Industry

Large contracts with large orders are virtually impossible without the cover of credit insurance. The security of payment is indispensable for the industry.

Credit insurance industry

The industry sector is responsible for the manufacturing of consumer goods from several raw materials. These companies process raw materials, materials and parts into new products. We use these products on a daily basis, products like a cell phone, our shoes and closets. Although this sector has become a bit smaller over the last 30 years, it stills offers lots of opportunities. The industry is very sensitive to the economic cycle and there is a lot of competition within this sector. Internationalization can be a threat. Order are often rather big within the industry. A non-payment of one of these big orders is not an option. A proper implementation of the debtor network is essential to be able to thrive within the industry.

A proper debtor network is dependent of a credit insurance. A credit insurance is an insurance designed for companies that supply on credit. Do you have a big order and is your debtor paying on credit? What happens if the debtor can not pay the outstanding invoice due to insolvency, but did receive its products? Te generated turnover can not be claimed due to insolvency, causing the working capital of your company can be compromised. When taking out a credit insurance, you are assured you will receive the generated turnover. 

How does a credit insurance work?

A credit insurance makes sure you receive your generated turnover. In case a payment of one of your debtors is held of, the credit insurer will yet claim the outstanding invoice. If this is not possible, the credit insurer will pay for the outstanding invoices causing your cashflow to remain optimized. 
Next to the payment of the outstanding invoices, you profit from many more advantages when taking out a credit insurance.  You can utilize the debt collection system of the credit insurer, provided that this is part of the policy.
Lastly, you can utilize the creditworthiness check. The creditworthiness check is a check of the creditworthiness of your current and new debtors as well. The CreditInsurers posses an enormous database with information concerning all industries, markets en companies. When taking out a credit insurance, you can make use of this database, provided that this is part of the policy. This way, you are provided with up-to-date information about the market and your debtors. With this up-to-date information, you can focus on the debtors with high creditworthiness.

Is a credit insurance interesting for your business?

Do you supply on credit, and do you usually deal with big orders? In this case taking out a credit insurance is recommended. If one of your bigger orders remains outstanding, your cashflow could be compromised. Next to the certainty that these bigger orders will be paid at all times, the cashflow will be optimized as well. Do you want to know more about the advantages of a credit insurance?

Do you have any questions? Or simply want some advice? With over 50 years of experience, we can provide you with proper advice. Our experts are happy to help you. Contact us for a free personal consultation, free from obligations.