credit Insurance
Professional guidance for managing and adjusting your credit insurance policy
The effectiveness of credit insurance policy related to the policyholder's needs is changing from time to time- The policyholder's strategic, exposure, clients portfolio, acquisition, business sector's risks, etc. -All are changing and volatile. The insurer's influential factors are also changing as strategies, credit capacity , risks appetite, economic and business environment- could all be volatile.
It is important to get and maintain a long term optimal credit insurance policy that will support the company's business at all times.
Incerto's credit insurance support services includes:
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Learning and Understanding the policyholder's business and credit insurance needs in order to customize an optimal program.
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Periodic check up of the policy, making adjustments if needed and making sure it matches the companies updated needs.
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Professional experienced understanding of the insurers 'language' and perspective.
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Professional contacts with insurers from Israel and from abroad, supports access the optimal solutions.
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Supporting the contact with insurers on major issues- significant change of credit facility to a strategic clients, major claims handling , managing major debt repayments agreement etc.
Credit insurance benefits
protection on the asset 'Receivables' - Transferring the credit risks to the insurance company and receiving rewards in the event of an insurance (financial failure of a customer), is a basic value of the credit insurance policy. to insure additional essential values. Reducing the provision for bad debts- Credit risk hedging enables the reduction of the provision for bad debts by relying on the insurance rewards.
Prevention of an insurance event (bad debt) Preventiom-Activity to prevent an insurance event is a unique characteristic of a credit insurance company. This activity includes A large investment of resources in technology, information acquisition, collection and analysis The information for underwriting and credit control, combined with extensive experience and access to many insured reports in the world. All of these will be referred for the purpose of taking steps to identify an increase in risk and reduce the damage in cooperation with the insured.
Legal treatment of debts (hard)- The insurance company works through lawyers and international collection companies to recover an unpaid debt when legal procedures and settlements are required.
Access to decision-supporting information The insurance companies have a lot of information about the economic activity and the stability of individual companies in Israel and abroad, as well as on Activity sectors and countries. The information partly helps For the insured in making decisions regarding a client, sector or activity in the country, all subject to confidentiality obligation limitations.
Improved credit management- The credit insurance policy includes obligations applicable to the insured. These together with ongoing contact with influential professionals, improve and tighten the DNA and the work processes in the company, in everything related to credit management.
Expanding access to funding sources- property insurance (customer debt) allows the insured to use it as collateral for financing and in any case strengthens the trust of the financiers in the stability of the company and its assets.
Safe growth- Moves for growth in activity are accompanied by an increase in risk. The risk arises from selling to new customers, new sectors, new countries or increasing sales volume and exposure to existing customers. The security provided by credit insurance helps to 'run' forward without hindrances and without debt 'mishaps' at the beginning of the road. You can focus on goals.
Strengthening the relationship with the customers - The security provided by the insurance increases the flexibility in granting credit days to customers both as part of competition, both as support for the customer and as support for the sale of products/services The insured through the customer as a channel for their distribution which requires, among other things, the availability of inventory.
stockbroker- Credit insurance specialist agent
professionalism- - The field of credit insurance requires an in-depth understanding and familiarity with the insurance platforms, the existing solutions and their adaptation to the characteristics of the insured's activity, the trade conditions and the unique risks of each credit organization. It is desirable that this specialization be by your side from the stage of building or updating the insurance plan, through its implementation, in the ongoing management and dealing with events along the way.
Postal Code- Professional credit insurance accompaniment, done by an expert whose field of business is credit insurance and allows you to focus on your core areas and growth.
Experience-The experience in credit risk management and the management of many credit policies, makes it possible to understand the characteristics of the company, identify the risks and build practical solutions.
knowledge- Current knowledge allows the insured To be updated at all times on the available options, coverage aspects, the structure of the insurance plan and costs.
time- Many companies find it difficult to free up time to gather data, examine and analyze Possibility of a potential credit insurance plan. They usually do not deal with the management and analysis of the policy and its adjustment, but with current credit applications. Beyond the lack of information and knowledge, most companies do not have the time to manage and analyze on an ongoing basis and in fact, perform an independent analysis (without appropriate tools) once a year or more, in preparation for policy renewal or before a periodic meeting with the insurance company. As a result, the operation of the policy is not optimal.
Personal contact all the way-To the personal relationship a great contribution to interface with credit insurance. for Companies that are considering insuring their activities or insurance companies. Accompanying an expert broker will ensure strengthening and maintaining a continuous long-term support relationship, allows you to maintain a continuous and stable relationship with the insurance company both during the policy settlement or update phase and along the way as part of dealing with events that affect the terms of the policy. A broker is the man you have along the way. Knows the history and is up-to-date on plans for the future.
They can also play an important role in the day to day administration of policies...their key roles is helping companies find the optimum insurance and to advise insureds on the nature, cost and extent of cover available in the market...brokers
are in day to day contact with insurers and thus have to be up to date with the marketconditions and how these may be changing
Study on short-term trade finance
and credit insurance
for the european commission
February 2012
Prepared by International Financial Consulting Ltd
Traditionally, brokers are paid by the insurers although they are not "agents" of the
insurers and, formally, their main responsibility is to the insured on whose policies they
are brokers
Study on short-term trade finance
and credit insurance
for the european commission
February 2012
Prepared by International Financial Consulting Ltd