EQ Insurance and Coface partner to launch a simplified Credit Insurance policy specifically designed for SMEs
Recognising that a quarter of bankruptcies are linked to unpaid invoices and SMEs are usually the least protected, EQ Insurance and Coface are introducing an innovative solution targeted at SMEs. With a single on-line platform, SMEs could get the quotation and a tailor- made protection package in a few minutes.
“For any Small or Medium Sized Enterprise, the risk of one of their major customers not paying their outstanding trade invoices can severely impact their liquidity position. This portal gives easy accessibility and flexibility for them to obtain the most suitable solution to protect their receivables.” said Fabien Conderanne, CEO of Coface Singapore.
For a fixed price, ‘SME Credit Insurance’ is a simple turnkey policy, including:
- monitoring that gives SMEs information on the quality of their customers in order to limit the risk of unpaid invoices,
- collection of unpaid invoices,
- and rapid indemnification in case of a claim.
“EQ Insurance and Coface strategic tie up seeks to provide Trade Credit protection to the SME Market which is currently not given much focus. This should also generate mutually new growth engine and product maximization for both strategic partners. The E-portal launch will enable EQI’s distribution channel to transact Trade Credit Insurance with greater ease and efficiency.” said Ronald Cheng, EQ Insurance Principal Officer.
This unique offer also enables qualified SME businesses to receive premium support from the Trade Credit Insurance Scheme (TCIS) managed by International Enterprise (IE) Singapore.
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