Trade Credit Insurance: Trusted by the World's best

Whilst trade credit insurance (TCI) may be a discretionary product, the value it can bring to your business and the support it can provide in reaching your business goals is unparalleled. Here's why TCI is trusted by the World's best.

One of the primary reasons businesses choose to buy TCI is risk mitigation. Credit insurance protects your business against the risk of non-payment by customers, thereby reducing the potential financial impact of bad debts. Non-payments could typically be as a result of cash flow difficulties experienced by your customer, or even certain political events. This protection ensures that businesses can maintain a steady cash flow by compensating for unpaid invoices, which is crucial for ongoing operations. What’s more, you’ll benefit from our industry knowledge and gain access to up-to-date information such as payment behaviour's in different geographies and sectors.

Another benefit of having trade credit insurance is its potential to enhance sales. By offering more competitive credit terms to customers, companies can boost sales and expand their market reach. Many businesses often use trade credit insurance to offer their customer open account terms instead of other often more expensive forms of securities such as letters of credit or up-front payments from their customers. Additionally, having trade credit insurance can make it easier to secure financing, as many banks and lending institutions look favourably on businesses whose trade is secured with trade credit insurance. Insured receivables are viewed as lower risk, which can lead to better borrowing terms. Your policy can also help you to build a strong relationship between your business and your banks or lender.

Businesses can reap vast benefits from the market knowledge and insights of our underwriters. Being equipped with the most up-to-date information allows them to make decisions around testing new products or exploring new sectors and geographies with minimal risk. Although credit insurance is not a risk transfer, a key benefit of credit insurance is knowing when it is not safe to trade with businesses that are not credit worthy or sometimes have even defaulted with other companies. This help you identify the best areas in which to invest in trade and nurture business growth.

Trade credit insurance is for businesses of all sizes. That is why we tailor the price of premium to suit your business, so no matter your size or your sector, you are covered. It is also worth noting, and for businesses to consider, that your premium is an allowable business expense so will reduce your corporation tax bill.

As mentioned, there will be occasions where our underwriters will be unable to offer insurance for a particular company, if they feel they are not creditworthy or at a high risk of failure. However, we don’t take these decisions in isolation and our underwriters are experts in their fields and will take the time to explain their decision to you. By informing you that there is a high risk that your prospective customer will struggle to pay you, you can choose to act on that information and possibly seek out a safer buyer to sell your goods or services to. This will save you money and hassle in the long run.

Trade credit insurance is unlike any other insurance policy, it is a live, ongoing active policy.  This is because the policy is there to support your business and trade. As your business grows and changes your account manager is there to support you and your business needs. Our customer service team, and also risk underwriters are there to discuss the credit limits you require, and to provide insights that may inform your decisions. This means you can get much more from your policy by working with it and actively managing it through online portals or through dedicated account managers, customer service teams and brokers. Your broker is able to offer their support throughout the process, and if you ever have any questions regarding your policy, our customer service team is vibrant and proactive, with the aim of providing high-quality service and a unique offering that puts the customer and broker at the forefront.

So why are the world's best investing in a credit insurance policy? For all the reasons above! TCI is an invaluable tool for to be used in your risk management and business strategies.