Valet Finance Integration with Modular Solutions

Premium Financing, Conveniently Delivered with Valet Finance

Valet Finance is a Canadian FinTech founded in 2020 by seasoned insurance professionals. Headquartered in Canada and serving clients across the country, Valet offers deep industry expertise with innovative technology to deliver a white glove experience for the Canadian insurance industry and their customers.

Valet Finance offers a fully integrated premium financing solution. It offers seamless, real-time connectivity and automation, making premium financing effortless while clients maintain control of their customer relationships. Teams can focus on underwriting and client service, not performing endless manual financial administration.

Features of the Valet Finance Integration

Fully embedded and integrated premium financing

Multiple payment plans and payment methods available

Full policy lifecycle premium financing automation

Automated interest and monthly payment calculations

Automated finance agreement creation with contract e-signature

Integrated payment processing (payments and refunds)

Flat interest rate that can vary by payment plan

Ability to change payment method, preferred payment day, and scheduled payment dates

Ability to hold payments, accept contract buyouts, and accept additional payments

Automated document generation and payment notifications

Payment exception handling including manual payments, partial payments, reversals, holds and releases, write-offs, disputes, and declined payment follow-ups

Visibility into failed, pending, and held payments

Automated reconciliation for accounts payable and accounts receivable

Automated journal entry generation for the general ledger

How the Valet Finace Integration Works

The integration between Modular Solutions and Valet Finance follows an event-driven workflow that minimizes manual steps and keeps data synchronized across systems.

Policy Event Trigger

When a customer’s policy is issued or renewed with a financing option selected, Modular Solutions triggers Valet Finance to generate a loan offer based on the premium and applicable taxes.

Customer Data Synchronization

Valet Finance retrieves borrower details from Modular Solutions, ensuring accurate, real-time identification of the policyholder and related contact information.

Premium Finance Agreement Delivery

Using the loan terms provided, Modular Solutions generates a Premium Finance Agreement and stores it directly within the policy record. This document becomes the authoritative agreement governing the premium finance loan. The payment schedule is also determined at this stage.

Payment Processing

The payment is processed through another Solutions Exchange integration: credit card or bank account payment (EFT/PAD).

Financial Reconciliation and Accounting Sync

Once the loan is active, Valet Finance sends repayment schedules and loan balances to the Modular Solutions Finance module. When payments occur through the Payment Gateway, the loan balance is updated automatically and corresponding journal entries are generated in the general ledger.

All of this happens without duplicating effort across systems — changes in underwriting automatically flow into the finance and reconciliation modules.

Policy lifecycle events such as changes, renewals, cancellations and reinstatements can trigger financing updates. Service teams can also manage exceptions such as payment changes, holds, partial payments, and payoff actions when needed.

Business Outcomes & Benefits of the Valet Finance Integration

Reduced Manual Effort

Automated reconciliation and balance updates eliminate manual bookkeeping tasks and reduce finance workload. There is also automation throughout the finance policy lifecycle, improving efficiency and reducing administrative burden.

Greater Financial Accuracy

Synchronization across underwriting, payment processing, and accounting ensures loan balances always reflect actual policy and payment activity.

Improved Compliance and Auditability

Every transaction — from loan offer creation to final repayment — is captured with an auditable history for compliance and reporting.

Improved Customer Experience

Clients benefit through being able to finance their premiums and pay more conveniently. The process is frictionless and offers unparalleled flexibility if there’s a need to change payment method, dates, or hold payments.

Frequently Asked Questions About the Valet Finance Integration with Modular Solutions

What does the Valet Finance integration actually do?

It allows premium financing to be offered as part of the insurance workflow rather than through a separate, disconnected process. The goal is to make financing easier to offer, service, and track alongside the policy.

Who is this integration best suited for?

It is best suited for insurers, MGAs, and brokerages that want to offer premium financing in a more embedded way, especially where service teams and finance teams need better visibility and less manual work.

What problem does the Valet integration solve for insurance organizations?

It reduces friction around premium financing by connecting policy activity, payment activity, and finance operations more closely. That means less re-keying, fewer handoffs, and a smoother experience for both staff and policyholders.

Is premium financing offered inside the policy workflow?

Yes — financing can be presented and managed as part of the broader insurance workflow rather than as a completely separate administrative process.

Does the Valet integration support the full policy lifecycle?

The Valet Finance integration supports key financed-policy lifecycle events such as new business, renewals, policy changes, cancellations, and reinstatements. Specific behavior can vary depending on configuration and workflow design.

Do policy changes affect the financing arrangement?

Yes. If the policy premium changes during the term, the financing can be updated to reflect those changes where applicable.

Can customers choose different payment plan options with Valet Finance?

Multiple financing plan options are supported, but the exact plans available depend on the client’s setup and program rules.

Can payment methods be updated after the premium financing term is active?

Yes, payment methods can be updated.

Can payment dates be adjusted?

Yes, payment dates can be adjusted.

Can customers pay off or buy out the financing early?

Yes, early payoff or buyout-related actions can be supported.

How does this integration help finance or accouting teams?

Beyond the customer experience, the Valet Finance integration supports finance and accounting teams with automation of reconciliation and general ledger journal entries. It also provides visibility into payment activity and accounting generally.

What is the benefit to insurance customers with the Valet Finance integration?

Customers get a smoother financing experience, clearer payment handling, and less friction during policy issue, renewal, and policy servicing. They also have additional flexibility for payments including changes to the payment method and payment dates.

Want to learn more?

Learn more about the Valet Finance Integration