Firstly, if you need any insight to how other people view the world of trade credit then check out my twitter profile – https://twitter.com/SimonMoulson
During the last 30 months many companies have not carried out a review of their credit insurance policies. This has been mainly due to time and other more pressing business issues that needed attention.
One new client’s business had changed considerably since they first had a credit insurance policy. Sadly, their policy had not changed. We identified several areas which were not covered and worked with them and their insurer to update the policy and put the right cover in place.
Another new client asked me to review the market as they felt their broker was simply renewing the policy with the same insurer year on year. By introducing competition from other insurers, we saved the client £15,000 in annual premiums. Same cover, different insurer.
At a recent renewal we saved a client 15% on their premium.
One long standing client needed a significant credit limit on a customer to complete and win a huge order. Working with the client and credit underwriters in the UK and US, we were able get the cover in place.
We helped another client secure a large export order. Again working with the client and credit insurer.
There is a lot of competition between credit insurers, which means more competitive premiums and flexibility in the structure of cover.
If you want to review how we can help you either set up a credit insurance policy or review your options and improve your existing policy, please get in touch.