Choosing between credit insurers goes beyond comparing the lowest premium. Choosing a Credit Insurer: What to Look For describes the criteria that actually matter.
Comparing coverage and acceptance policy
Insurers differ considerably in their willingness to grant limits for specific sectors or countries. An insurer with the lowest premium but a strict acceptance policy that rejects most of your customers offers less practical value than a slightly more expensive insurer that genuinely covers the portfolio well.
Speed and flexibility of limit requests
In a commercial environment where fast action is needed, the time an insurer takes to assess a new limit matters. An insurer that responds within 48 hours delivers practical value not found in the policy terms but that does affect daily work.
Service at claim time
The true test of a credit insurer isn't in the sales phase but at an actual claim: how smoothly does the process run, how fast is payout made, and how transparent is the insurer about the reasoning behind a possible rejection. References from other customers often give better insight here than the policy terms themselves.
Practical: making a well-informed choice
Comparing credit insurers requires more than a premium comparison.
- test the acceptance policy against your own receivables portfolio before signing.
- ask about the average turnaround time for assessing new limit requests.
- inquire about references regarding claim handling.
- compare not just premium but also deductible and additional costs.
- assess the quality of the credit information service as part of the proposition.
What CreditCraft adds
CreditCraft helps compare credit insurers on criteria genuinely relevant to your own practice, instead of just the lowest premium.
Conclusion
Compare Atradius, Allianz Trade, Coface, and others on coverage, service, and terms: the best choice is rarely the cheapest, but the insurer that genuinely covers your own portfolio well.