If you're considering credit insurance, it's important to understand what you're getting for your money.
Trade credit insurance typically covers around 90% of what is owed to you if your customer fails to pay. This is most often because they have entered insolvency but may also be due to other reasons (as agreed with your insurer) such as political events, currency restrictions, trade embargoes or withdrawal of production licences.
Having said that, it is important to emphasise that with Atradius your insurance policy is always tailored to your business and its needs. For example, we can supplement your regular insurance with guarantees and cover when you buy goods on prepayment.
Making your credit insurance policy work for you
If you are using your credit insurance policy like you would for insurance against fire or theft, you may be missing out on its full value for money. Your credit insurance can and should also be used actively to develop your business. It is not designed to sit in a drawer waiting to be activated once a disaster has occurred. It is a valuable business intelligence tool and support network that you can use for strategic decision making and for enabling growth.
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Our API solutions enable you to integrate our essential data about your customers into your own financial systems. You will also have access to our online portals Atrium and Insights. As a policy holder you can see payment patterns and ratings for your customers.
As a credit insurer, we are notified as soon as a payment is missed with one of our customers. Our Risk Underwriters are in a dialogue with buyers to ensure that we have updated information, sometimes this means that we have access to confidential information that we cannot share, but integrate into our risk assessment and credit limit decisions. This is valuable data that you as a customer can benefit from.
Continuous up-to-date business intelligence
As a customer of Atradius, you will have a personal customer success manager assigned to you. They get to know you and your business, help you tailor your policy and can advise you on competitive payment terms in your sector.
In addition, for practical questions, you have access to our local customer centre. Our customer centre support staff can help you with everything from minor everyday questions to any inquiries you may have with integration of our APIs.
Professional B2B debt collection services
As part of your trade credit insurance policy, you will typically gain access to our professional debt collection services at no extra cost. Atradius Collections is an internal debt collection company with a network of lawyers who do what they can to recover outstanding amounts. Atradius Collections has a global reach and can be particularly useful if you are trying to collect a debt or engage with receivers or liquidators in another country.
Your customers will be aware that they are dependent on a good credit rating from Atradius in order to buy on credit from their insured suppliers. We find this often acts as an incentive with debtors either paying our policy holders or our collections department more quickly in order to avoid a bad rating in the future.
