The primary benefit of credit insurance is protection against bad debt caused by insolvency, cash-flow issues and political risks (export risk). Companies who use credit insurance also benefit from:
- Improved cash-flow – the policy works with your credit control and enhances it
- Increased new business and repeat sales – the protection from the policy means a business can go after new markets you may have found too risky. The credit terms you offer are also a good selling point for winning and keeping business.
- Better terms from suppliers – by having a credit insurance policy, this also gives a supplier more confidence that your customers will not fail due to a bad debt.
- Up-to-date credit information – the credit insurer that underwrites the credit risk of a company has the most up to date information possible and quite often that means companies with a credit insurance policy will be the first to know if a problem is on the horizon.
- Reduced debt collection and legal costs – debt recovery action is also covered under our managed credit insurance policy meaning your client would reduce their spend on debt recovery processes.
Please get in contact with us to know more.