We can assist you in the collection of your business' overdue accounts to improve the speed and success with which you collect money owed to your business. Furthermore, should the worst happen and one of your buyers become insolvent, the prompt settlement of your claim will safeguard your cashflow.
Our insurers monitor over 40 million buyers. Through their credit limits and opinions service, clients can take advantage of their trade sector, country and buyer knowledge. If you decide to trade on the basis of their credit limit decision and your buyer refuses to pay or becomes insolvent you will be entitled to make a claim on your credit insurance policy.
Banks and trade financiers are often more willing to provide trade finance, or may be prepared to offer more favourable lending terms to businesses with a credit insurance policy.
Insurers' unique proprietary information, obtained by visiting companies and received through our clients, coupled with their detailed knowledge of businesses and trade sectors enables their Risk Analysts to set appropriate credit limits. By following their advice, you are able to review existing trading relationships and so reduce your exposure to potential bad debt.
You may be able to negotiate more favourable terms with your suppliers, since they know the business they are trading with has taken steps to protect its balance sheet assets.
Using your credit insurance policy enables you to reassess your internal credit management procedures. Banks and trade financiers often take the existence of a credit insurance policy as an indicator that the business takes a structured approach to its credit control procedures.
Credit insurance is a simple way to protect your business against the effects of bad debt. You have the reassurance of knowing that if one of the buyers covered under your policy can't or won't pay then in accordance with the policy the insurers will.