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Trade credit insurance for medium-sized companies

Build your business with the power of our unique business intelligence.

 

Credit insurance: What does it cover?

If a customer is unable to pay not only one but multiple invoices by their due date, this can have disastrous consequences for your company. With that in mind, our insurance serves not only as insurance against bad debts; we also provide you with an ongoing review of the credit standing of all your current customers. This means that you are always in the picture should one of your business partners or customers get into financial difficulties. We align our insurance solutions to your specific needs, taking into account how big your company is, which field you work in and the amount that needs to be covered. Generally speaking, credit insurance encompasses payment defaults and bankruptcies on the part of customers as well as regular credit checks. You will also be indemnified by our credit insurance if your customers are unwilling to pay.

When is the right time to take out trade credit insurance?

No matter how large or small your company is, you could have to deal with your customers or partners defaulting on their payments at any time. Let's assume you deliver goods to a customer or provide them with a service and issue an invoice with a payment deadline of 60 days. If you still haven't received payment from the customer four weeks after the invoice was due, for example, we get an electronic alert about this and can set in motion all subsequent steps, such as drawing up a claims notification (four months after the overdue notification). This means that, following a waiting period of six months, you will receive the money you are owed and are protected against serious losses – even if the customer ultimately isn’t insolvent.

 

Manage credit limits online – simply and conveniently.

Our online portal now makes it even easier to manage and update your credit limits. All you have to do is log in with your access data. You can then adjust and manage the credit limits at your convenience. The portal is provided to you free of charge.  In the event of a limit enquiry, we will charge the costs of this together with your credit insurance.

Our online platform The Customer Service Guide can help you with all your questions about your credits and policy.

How does it work?

  1. Customer credit check: We analyse the credit standing and financial stability of your customers.
  2. Credit limit calculation: Every customer has a credit limit set for them. This is the maximum amount we will indemnify in the event of non-payment.
  3. "Business as usual": You then go about your business with your customers as usual – but now you are covered up to the credit limit.
  4. Limit updates: We keep you updated about adjustments to limits if these are raised or lowered due to changing circumstances.
  5. Expanding your business: When you are approached by potential new customers, you can check their credit standing. Afterwards, you will receive a confirmation from us – or an explanation as to why your request for cover was denied.
  6. Submitting a claim: Has a customer failed to pay? Simply send us all the pertinent information. We will then investigate the case and reimburse you in the amount of the insured loss resulting from the default, subject to compliance with the applicable conditions.

Example of an indemnification process in the event of unwillingness to pay (protracted default):

The benefits of credit insurance speak for themselves

Our credit insurance can help protect you against business risks and safeguard your liquidity. We also offer you flexible and individual protection for all your business dealings with customers and business partners and will be happy to provide you with personalised advice. To avert potential losses resulting from customers’ inability to pay, we have created an optimal solution for you in the form of our trade credit insurance. In addition, if you are due to arrange conditions for a loan with a bank, having credit insurance puts you in a much stronger position to negotiate the terms. We also offer you industry-specific insurance solutions and are a strong partner to have by your side.

Why you should choose us

We are the global market leader in the field of credit insurance and we want to put our expertise to work for you. With us as a reliable and strong partner by your side, you will receive speedy claims settlement, indemnity in line with the claim and optional collection services. We check your customers' credit standing and provide you with personal service, combined with EOLIS, our convenient online service. Are you interested in working together? Find out more.

Would you like some advice?

I am here for you!

Dominique Haab
Senior New Business Underwriter

Allianz Trade in Switzerland
Richtiplatz 1
CH-8304 Wallisellen

Phone:        +41 44 283 65 48
Mobile:       +41 79 574 91 82
LinkedIn Profile
dominique haab

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