Hedgehog, the new online motor insurance provider, has teamed up with Premium Credit, the supplier of premium finance.

Hedgehog uses intelligent, automated underwriting and data analysis to drive advanced risk pricing and fraud prevention, powered by its own cloud-based software platform. Premium Credit will offer finance options to its customers in Hedgehog’s first year of business.

The new entrant is offering motor insurance products aimed at drivers who face higher than average premiums for reasons such as holding points on their licence, a driving conviction or being declined by certain insurers because of their postcode or age.

Hedgehog looked for a supplier that could help it create the smoothest customer journey possible. It said the partnership with Premium Credit would result in a seamless online experience with the whole purchasing process of motor insurance, with a range of payment options including premium finance, being achieved in just one transaction and without the customer being directed to another site.

Powered by its own cloud-based software platform, Hedgehog’s proprietary pricing engine creates a quote from scratch in real-time, combining several sources of external data with cover being offered initially through an exclusive agreement with aggregator, Confused.

Those taking motor cover and wishing to finance their premium payments can sign credit agreements electronically, 24/7, anytime, anywhere from either mobile or desktop devices.

Pete Storey, founder and CEO of Hedgehog, said: “Our online user experience aims to be second to none for simplicity and convenience.

“Through early collaboration with our e-commerce team, Premium Credit has arrived at the exact, seamless electronic integration we wanted for our customers. This combined with competitive pricing, great customer service and a willingness to listen to exactly what we wanted, sealed the deal.”

Tom Woolgrove, Premium Credit’s executive officer, said: “We are delighted to be selected by Hedgehog. Our continuous investment in technology has allowed us to develop cutting edge, digitally-led insurance payment solutions which we are confident will assist them in their business growth ambitions.”