The changing economic situation has had on the credit market the following effects:
- companies have focused on enhancing and improving their trade information quality and some have changed their products by narrowing the scope of certain guarantees;
- today, the solvency of the company seeking the insurance coverage and the clientele on which the analysis of the credit risk is made, are becoming more and more important.
In the light of these changes, each company should assess with a wider perspective some aspects pertaining to credit insurance.It then becomes fundamental to rely on an experienced broker like Assiteca, which, through the Credit Insurance Division, has been working for many years as a broker between the company and the insurance market, offering the solutions most suitable to the customers’ specific requirements.
The Credit Insurance Division, with its 20 Units, 10 Specialists and 10 dedicated Account Managers, has its offices in Prato and in Rome, and was set up to offer an effective insurance solution to companies, together with a comprehensive service allowing a simpler internal monitoring of customers’ credit rating and guaranteeing the continuous support in credit risk management.
An adequate credit management is critical to guarantee the financial stability of all companies and the underwriting of a trade credit insurance has always been one of the most effective way to protect companies’ assets.
The credit insurance contributes to:
- protecting the company:
- prevention of customers insolvency risks
- protection from credit losses
- increasing sales:
- easier access to new markets
- increased business by increasing the customers base
- differentiation from competitors, without having to require additional guarantees
- improving the customer portfolio:
- focus on customers and credit to be granted
- continuous monitoring of each Customer
- optimizing financial management:
- improved conditions for accessing bank and financial credit (it is the only insurance coverage affecting Basel II rating criteria)
- improved credit quality recorded in the financial statements and, therefore, improved working capital quality.