Credit insurance is not just an insurance policy; it incorporates a simple method for protection of Client´s commercial accounts against the risk of non-payment. It is a service which permits the development of an integrated system of commercial risk management, based on protection vs. default.
Bruzon offers this service via all Insurance companies, specialised in this field, to include:
- Security: by having pre-sale information, at their disposal.
- Saving: though eliminating provisions and collection management.
- Indemnity: with or without, recovery from the Insurance Company.
- Solvency: in the face of Third Parties and financial institutions.
Proposals are designed to adapt best to the needs of a Client company.
A classification Audit of the Company´s clients is undertaken to apply a credit rating according to sales forecasts and set time-limits. Coverage begins on delivery of the merchandise or from the start of the service and or supply.
Clients need only declare their sales and notify possible payment or default agreements, thus starting collection management and recoveries, with control over settlements and indemnities.
Also, individual transactions may be studied, ”single risk”.
- Information: analysis is carried out on each of the Company´s clients who form part of the insured portfolio.
- Indemnity: allows the Company greater tranquility in respect of non-payment of sales on credit.
- Recovery undertaken by the Company: thus avoiding unnecessary misuse of time and resources.
- A more flexible sales philosophy: permitting the Company to reach a larger number of clients, and more markets, thus offering better sales´ conditions.
- Low cost: short-term compensation due to the increases in sales which may be generated.
- Account receivables cease to be simple expectations: they become assets which are free of risk, leading to an improvement in the financial position.
- The company is not obliged to provision that part of non-paid credit which is insured.