22 December 2020 – Since 1998, South African-based Prestige credit group has been providing solutions for clients in need of customised credit insurance products. The firm has established specialised broker agreements with several of the top credit insurers, operating across South Africa and Southern Africa in countries such as Namibia, Mozambique, Swaziland.
Prestige Credit is pleased to announce that the trade credit insurance agency has been providing solutions to credit insurers in the industry for more than two decades. Since 1998, the company has been active in the credit insurance field, protecting companies against delinquent or bad debts and slow debtor payments, offering tailored credit insurance solutions to fit the customers’ needs. Prestige will look at each client’s specific needs and provide a turnkey credit insurance solution.
With their involvement and comprehensive experience in the trade credit industry, Prestige identified a need to provide clients with a holistic solution for credit risk management. The result is Debtcol Management Solutions and Prestige Advantage.
The specialised companies were launched with the determination to provide clients with a full-service package. Prestige ensures that all documents are in order, the debtors’ book is insured, and a qualified professional can collect any delinquent commercial debts. The specialised services provided by Prestige include assistance in expedition and resolution of queries from the various service providers, offering support to clients in understanding administrative requirements of online systems, and investigation of marketplace rumours to confirm or refute them.
More information about the company and its portfolio of services is available at https://prestigecredit.co.za/
Prestige provides updates on market trends, as well as on-product development activities with local and international market trends. The company establishes synergy in the group companies’ processes to ensure peace of mind at the head office level. In the business component related to risk management systems, Prestige compiles risk management reporting tools to determine the level of under-insured buyers and un-insured buyers. The reports monitor the percentage of insured and also overdue buyers, with identification of possible claim action.
Prestige has specialised broker agreements with several credit insurers, including Credit Guarantee Insurance Corporation of Africa Ltd; The Hollard Insurance Company Limited; Coface South Africa Insurance Company Ltd; Euler Hermes Services South Africa Pty Ltd; and Lombard Insurance Company Ltd. As a member of Credea, an international perspective is part of trade credit requirements. Credea has more than 1500 clients globally, with a sum of more than 75 billion Euros in credit insured global sales through 25 strategically located offices.