AFCO Direct
The leading insurance premium finance company in the industry
Overview
AFCO Direct is the leading provider of insurance premium finance and payment solutions in the United States. With over 65 years of industry experience, the company was formed through the merger of legacy AFCO Credit Corporation and BankDirect Capital Finance, now operating as a subsidiary of Truist Insurance Holdings, Inc. AFCO Direct supports insurance agencies by providing customized premium finance programs while easing administrative duties, improving cash flow, and delivering digital capabilities.
The company specializes in commercial insurance premium financing, helping businesses and individuals pay their insurance premiums over time through flexible financing options. AFCO Direct's groundbreaking technology and in-depth industry expertise help agencies achieve more, with abundant funding capacity to support partners of all sizes.
AFCO Direct is changing the game with PayMyPremiums (PMP), its fully digital premium billing, down-payment collection, and financing solution. The platform integrates with leading agency management systems like Vertafore's AMS360, enabling agencies to offer 24/7 invoicing, payment, and premium financing through client experience platforms.
Products & Services
PayMyPremiums (PMP)
AFCO Direct's flagship fully digital premium billing, down-payment collection, and financing solution.
Key Features
- Mobile-friendly platform for premium payments
- Credit/debit card and ACH payment options
- Pay-in-full or finance with recurring monthly installments
- Agents receive gross premiums from AFCO Direct 100% of the time
- AMS360 and Sagitta integration at no additional cost
- InsurLink integration through Vertafore partnership
Target Users: Insurance agencies, insureds
Premium Finance Programs
Customized premium finance solutions designed to improve agency cash flow and reduce administrative burden.
Key Features
- Commercial insurance premium financing
- Abundant funding capacity
- Flexible payment terms
- Low-cost capital access for insureds
- Professional account management
Target Users: Independent insurance agencies, commercial insureds
Finance Connect (via ePayPolicy)
Integration with ePayPolicy's Finance Connect feature allowing customers to connect AFCO Direct financing at checkout.
Key Features
- Seamless checkout financing
- Connected to ePayPolicy payment platform
- Streamlined application process
Target Users: Agencies using ePayPolicy
At a Glance
- Founded
- 1957
- Headquarters
- Lake Forest, Illinois
- Employees
- 51-200
- Funding
- PE-Backed (Truist Insurance Holdings)
Category & Focus
- Category
- Billing & Payments
- Subcategories
- Premium Finance Payment Processing Digital Billing
- Insurance Verticals
- P&C (Commercial)
- Target Customers
- Agencies, MGAs, Brokers
Customers
- Independent insurance agencies nationwide
- Insurance Networks Alliance members
- Vertafore AMS360 users
Links
Last updated: 2026-03-25