CGU Insurance is now offering installment billing on its business and office packages.

The insurer already offers installment billing on home, landlords and private and commercial motor products which are available via Sunrise Exchange.

GM Retail Mark Searles says installment billing gives customers the ability to split the cost of their insurance premium, allowing them to better manage their cashflow.

“For the intermediary we know that retention numbers are improved through being able to offer an installment billing plan.”