Motor insurance provider Cuvva has signed a three-year deal with premium finance provider PremFina. Under the agreement, PremFina will provide customers purchasing annual policies with a monthly payment option in Cuvva’s mobile app.

Annual products are an expansion of Cuvva’s core short-term product portfolio and the provider says they are becoming a more important part of its proposition.

Matt Robinson, operations director at Cuvva, said: “As our annual insurance offering grows, flexible payment options are essential. We wanted a partner that could match our pace, integrate cleanly into our platform and uphold the standards our customers expect. PremFina gives us that capability.”

Laura Sweetman, chief product and revenue officer at PremFina, added: “Cuvva has been at the forefront of rethinking how insurance works for today’s drivers. We’re delighted to have been selected as their premium finance partner as they continue to scale their annual product.”