Trade Credit Insurance solutions to protect your business
Solutions from one of South Africa’s top trade credit business insurance providers
REQUEST MORE INFO
The credit insurance service offered by Prestige Credit is only for business to business insurance of debtor’s books. Unfortunately insuring Personal / Consumer debts or Financial Loans cannot be accommodated.
Prestige Credit does not provide Personal Loans or Business Loans. We provide credit insurance covering non-payment of business-to-business transactions.
WHAT IS TRADE CREDIT INSURANCE?
Trade Credit Insurance is a financial risk management tool designed to safeguard traders, businesses, manufacturers, and service providers against losses often incurred due to non-payment or extremely delayed payment.
Suppose a buyer is unable to pay due to various reasons, mostly due to insolvency or bankruptcy. In that case, the insured can claim from their trade credit insurance policy for payment
For businesses offering credit to their buyers trade credit insurance can provide protection against non-payment, insolvency, and unwarranted losses. It can also potentially help with business expansion, increasing profitability and strengthen business stability.
Is YOUR BUSINESS writing off HUGE LOSSES?
HOW CAN IT HELP YOUR BUSINESS?
Trade Credit insurance offers a wide range of benefits to the businesses, including –
Credit Insurance Offers A Better
Relationship With Customers
Having trade credit insurance would allow you to draw more customer-friendly agreements, improving overall relationships with your customers.
Facilitate Bank Financing &
Better Interest Rates
When the accounts receivables of the organisations are insured, the banks offer loans at more favourable terms and a lower rate of interest can be negotiated.
Increased Sales
Businesses with trade credit insurance can help increase sales considerably by offering customers better & more favourable credit terms, eliminating the need for expensive letters of Credit.
Collection Services
When the organisations are covered with trade credit insurance, they get access to cost-effective and reputed collection services.
Protection Against Insolvency/bankruptcy
When sales are made on credit, covered by trade credit insurance, the organisations can protect themselves from the unforeseen risk of customers’ defaults, bankruptcy/Business Rescue, and insolvency.
Lower Concentration Risk
Many businesses and organisations depend on a select few customers for a healthy bottom-line. Having trade credit insurance would lower the dependency on these customers and offer considerable protection if these customers default.
Boosts Confidence
When businesses are protected with trade credit insurance, it helps them diversify with ease and expand beyond traditional markets. It is a must for businesses aiming to grow and expand.
Early Warning
Having trade credit insurance would help businesses gain credit information about companies with high-risk profiles or poor credit. It warns companies of such exposure so that business owners can avoid unnecessary risk.
Improved Payment Behaviour
When businesses are insured with trade credit insurance, the customers typically pay faster than traditionally, improving organisations’ cash flow and liquidity.
WHERE TO GET IT?
If you’re a business or organisation operating in South Africa, Prestige Credit Group is a provider of trade credit insurance to businesses ranging from small and medium-sized entities to large corporate organisations. Prestige Credit Group offers custom-tailored insurance solutions to its clients, ensuring their requirements are perfectly met without costing a fortune.
WHAT IT PROTECTS YOU FROM?
Trade credit insurance typically covers two types of risks, including:
COMMERCIAL RISK
The commercial risks entail the inability of the customers to pay due to insolvency or other such financial issues. It may also include unusual delays in payments.
POLITICAL RISK
Political Events are defined to include any of the following events which occur when goods are exported:
- A war declared or not involving the Buyer’s country.
- A riot, civil war, rebellion, act of terrorism, revolution or any similar event in the Buyer’s country.
- Any legislative or administrative measure in your country that prevents the export.
- Any governmental measure preventing the import, the transfer of the funds or exempting the Buyer from the payment.
Trade Credit Insurance
When choosing Trade Credit insurance for your business, it is important to choose an experienced and trusted provider with a solid reputation in the market. Prestige Credit Group is a highly recommended credit insurance provider in South Africa, and rightly so. Let us look at some of the major reasons why Prestige is the best.
Highly Experienced
Prestige Credit Insurance Consultants (Pty) Ltd started offering economical, custom-tailored, and flexible credit insurance solutions to its clients across South Africa in 1998.
Over the years, the company has built a solid reputation in the insurance sector, winning the trust of many clients. Its experience and expertise in the field are unrivalled.
EXEMPLARY CUSTOMER SERVICE
Prestige Credit Group offers exceptional customer service, which is fast, responsive, and friendly. Customers can expect their queries to be resolved quickly, especially due to its strong network and close ties with other service providers.
ONGOING ADMINISTRATIVE SUPPORT
For clients looking for technical and administrative support, Prestige Credit Group offers hands-on support for clients’ online systems.
IN-DEPTH INVESTIGATION
Our company conducts in-depth and rigorous investigations into any market rumours to confirm or disprove them. It helps make informed decisions based on fact and eliminate any risks in financial transactions for the client and the company.
INTEGRATED & SYNCHRONISED PROCESSES
Prestige Credit Group has integrated processes that create synergy when handling accounts of Group Companies, and it ensures peace of mind for the company owner(s) and boards, to ensure effective management of credit insurance policies.
Trade Credit Insurance
Why it is important for your business
Prestige Credit Group has been amongst the leading credit insurance solution providers in South Africa since 1998. The company has relationships with most of the major credit insurers in the industry and caters to businesses of all sizes.
Prestige Credit Group understands the volatility associated with the trading and business environment at large and aims to fill the void through its trade credit insurance solutions. It not only protects the businesses from unwarranted trade-related risks and debts but improves overall bottom-line quality and profitability.
SPECIALISED BROKER AGREEMENTS
As one of the oldest players in the trade credit insurance sector, Prestige Credit Group as specialised broker agreements with many of the leading credit insurers in South Africa, 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 Limited
- Lombard Insurance Company Limited
- Asset Finance Insurance
In today’s volatile business environment, it is essential to take steps to safeguard your business and financial processes. Trade Credit Insurance is one of the key components of this endeavour, ensuring financial safety and protection against any unforeseen debt situation and mitigating financial risks to a great extent.
Prestige Credit Group can offer customised credit insurance solutions to businesses of all sizes, helping them grow uninterrupted and stay competitive at the same time.
REQUEST MORE INFO
The credit insurance service offered by Prestige Credit is only for business to business insurance of debtor’s books. Unfortunately insuring Personal / Consumer debts or Financial Loans cannot be accommodated.
Prestige Credit does not provide Personal Loans or Business Loans. We provide credit insurance covering non-payment of business-to-business transactions.
Get in touch
Prestige Group
The credit insurance service offered by Prestige Credit is only for business to business insurance of debtor’s books. Unfortunately insuring Personal / Consumer debts or Financial Loans cannot be accommodated.