Do you sell goods or services on credit and face the risk that some customers will not pay? The credit insurance is a simple way to protect you against non-payment of your receivables.
Purchasing on credit plays an important role in today’s business world. The ability to leverage credit as a means of buying today and paying later is a critical function of the economy. However, what happens when a customer you have extended credit will not pay? What if the customer goes bankrupt?
In order to protect against such situations where your business faces financial losses from a non-paying customer on credit, you should take advantage of Trade Credit Insurance. If your company sells goods or services and allows customers to pay later, Trade Credit Insurance is not only a wise choice, it is a must. In simple terms, this insurance helps you stem losses resulting from non-paying customers.
Partnering with us brings peace of mind that your business is in right hands. We invest time to understand your needs and deal with major insurers which are familiar with this type of insurances. Together, we build tailored solutions that align with the unique needs of your business.
Credit insurance works by providing a guarantee that your insurer will pay up when your customer doesn’t. For example if your customer declares bankruptcy after you have shipped goods to them but before they have paid you, the credit insurance will cover your loss.
Trade credit insurance protects against the risk of non-payment of receivables because of customers’ inability or unwillingness to pay.
Whether through debt collection or insurance you should get all or most of your money back. In many instances, credit insurers may cover up to 90% of the debt.
The insurance implies a credit worthiness assessment of your customers, which can prevent any kind of losses. For this, our insurance partners use information obtained through attentive monitoring and active data collection.
The credit insurance has certain benefits you should be aware of:
- Certainty that your receivables will be paid
- Banks can grant financing using the credit insurance policy as an additional guarantee/security
- Access to information about the creditworthiness of your customers by credit limit decisions.
Without some sort of financial protection, every sale you make on credit can be considered a risk, preventing you from expanding sales to further grow your company. For newer businesses, this is especially important, considering the capital limitations. Moreover, for companies with a smaller customer base, each customer may represent a relatively large risk to the business. Trade Credit Insurance helps reduce your risk and allows you to pursue growth, without having to worry about a non-paying customer.
- Provide you with free and impartial specialist advice concerning risk management and cover options
- Provide you with the right insurance product which best suit your specific needs, helping you to:
- Minimise your exposure to risk
- Save your time and money
- Manage your insurance policies, timely informing you about the relevant aspects
- Manage your claims, provide assistance and representation in front of insurance partners
- Give you peace of mind that you are protected for things that matter to you
- Our services are based on technical expertise and robust business knowledge, underpinned by complete understanding of your specific needs
- We have access to a large range of insurance providers allowing us to offer bespoke insurance solutions with the best value for you – both in terms of cover and price
- We think holistic and act responsible. We believe that respect and integrity are vital to building and maintaining trust and good long term relationships