Category: Insight | Date: 19/06/2020

10 reasons to buy credit insurance

Why businesses should buy credit insurance?

We have identified these top 10 reasons why your business should have credit insurance cover:

1. Protect against bad debt

Credit insurance replaces money lost through non-payment, enabling your business to continue

trading normally.

2. Grow your business

Reduce uncertainty when dealing with new prospects, moving into new markets, and extending credit to existing customers.

3. Keep cash flowing

Combined with existing credit control measures, credit insurance ensures that your business’s lifeblood is protected.

4. Increase profitability

Growing your customer base involves risk, but credit insurance helps mitigate that exposure while you drive for greater profitability.

5. Trade with confidence

Whether approaching new customers or expanding into new markets or territories, risk mitigation enables bolder decision-making.

6. Make the right decisions

Credit insurance facilitates access to customer data, which enables business decisions to be made based on solid intelligence.

7. Better funding

Banks and other lenders are reassured by the protection credit insurance offers, which improves access to finance.

8. Be competitive

If competitors can’t take the risk of open credit terms, your business will seem more attractive to customers because it can safely do so.

9. Maintain focus

Knowing that your sales ledger is protected gives great peace of mind, so you can focus on running and growing your business.

10. Be agile

The protection and intelligence provided by a credit insurance policy can help your company adapt to market needs more quickly.

Contact us today to discuss how your business can benefit.