The evolution of Credit Insurance
Bridge Insurance Brokers Ltd and Trade Cover Exchange begin an exciting partnership
Bridge Insurance Brokers Ltd and Trade Cover Exchange today begin a partnership which will see Bridge able to offer its clients direct, or supported, access to the Trade Cover Exchange online platform.
The platform is the single venue for businesses who wish to get quotes for Credit Insurance cover on a Single Invoice and receive quotes from multiple Insurers at the same time. Businesses simply register, select the debtor they wish to cover, the amount of the invoice and the due date – then they can sit back and wait for the quotes to come in. Finally, they can select the cover that fits their needs (and budget) and they’re protected!
A changing landscape
As the Global economy struggles to deal with the impact of COVID-19, Companies (both large and small) are keen to compensate for the negative impact on their revenues. They see the need to identify new clients (domestically as well as abroad) and originate larger commercial deals with existing customers – they may start to export for the first time or explore new international markets. All of this comes with “Risk” attached, and while Whole Turnover policies were the traditional choice, Single Invoice protection provides a quicker, easier and efficient option to immediately offset the risk, and give business owners peace of mind.
On the partnership, Gerard van Kaathoven, CEO at Trade Cover Exchange said: ‘Our marketplace aims to make trade credit insurance as easy and transparent as possible to all B2B companies. We are pleased to have started this partnership with Bridge Insurance Brokers Ltd, one of the largest independent insurance brokers in the United Kingdom. The combination of our digital trading platform for single invoice insurance and the client base of Bridge Insurance brokers Ltd will enhance their client’s ability to grow their revenues safely.
Mark Johnson, Director of Trade Credit at Bridge Insurance Brokers Ltd, added: “Credit Insurance is no different from every other product and service out there – it must adapt to suit the current needs of those who use it, and it’s fair to say that not every business needs to protect their whole debtor book. Sometimes it’s one particular debtor they have concerns over, or one transaction that’s bigger than what they’re used to, and this is where Single Invoice Insurance comes in. I’m very excited about the partnership with Trade Cover Exchange and I know that our clients will now benefit from something exceptional”.
Find out more
You can return to our news section by clicking here.