Specialist Credit Insurance Brokers
Golding McEvoy Risk Consultants (GMRC) are experts in credit insurance and understand how it can help your business thrive, both by protecting against the disastrous effects of bad debt and facilitating business growth.
WHAT IS CREDIT INSURANCE?
Trade credit insurance provides cover for businesses in the event of a customer becoming insolvent or failing to pay its trade credit debts. The credit insurer will monitor each of a policyholder’s insured customers, assigning them each a credit limit, which is the maximum amount covered in the event of an insolvency or non-payment.
WHY CREDIT INSURE?
It gives businesses the confidence to extend credit to new customers and improves access to funding, often at more competitive rates. Not only this, but insurers can help to reduce the risk of financial loss through credit management support.
HOW IS IT PRICED?
The cost of a credit insurance policy is typically a small percentage of insurable sales. The price can depend on several variables starting with the turnover of the business. This is further influenced by additional factors such as the trading and loss history of the company, the trade sector and the customer base.
WHY USE A BROKER
Very few policyholders of any type of insurance would purchase or renew a policy without wanting to know that they have the best cover at the best cost. Equally, a significant proportion of the underwriters will not issue a Credit Insurance policy without a broker.
A specialist Credit Insurance broker will work for their clients and use their experience to negotiate better terms and premiums than you would get from an Underwriter.
At GMRC we work on behalf of our clients and pride ourselves in our ability to proactively manage all aspects of your Credit Insurance policy, not just in the sales process, but also on an ongoing basis throughout the life of the policy. Additional support is provided to negotiate credit limit cover, and pre-vetting all claims to maximise and expedite claim payments.
Brokers are remunerated directly by the Insurers to manage their client’s policy. The cost of the broker is NOT passed on to the client by the insurer.
BENEFITS OF CREDIT INSURANCE
It provides an additional 'wrap' around your existing credit management to improve your days sales outstanding.
Insurers have access to detailed information on millions of companies around the world.
It allows you to expand safely and confidently with new customers, both domestic and abroad.
PEACE OF MIND
Allows you to sleep at night knowing your unpaid invoices are insured.
Having credit insurance allows you to negotiate better terms with your bank and other funders.
Improve your profitability by increasing your sales with trading more.
Fundamentally, it's there to replace money lost through bad debt as quickly as possible.
It allows you to be more efficient by helping you make the right decisions quickly.
Offer credit terms to customers when potentially your competitors can't.
It gives you the knowledge and comfort to sell new products to new customers, maybe even in new countries.
A BIT ABOUT US
We aim to improve the customer experience within the credit insurance broking market and to provide the very highest quality service to all of our clients. With nearly 40 years combined experience in dealing with both direct to insurer clients, and brokered clients, we understand that all clients want the same things; a speedy response, great service, and the best advice.
At GMRC we will not offer different levels of service to our clients depending on their spend. We are committed to providing our best service levels to all of our customers, and we believe that everyone should be treated the same.
MEET THE TEAM
Dave has over twenty years’ experience in the credit insurance industry working for both Insurers directly and specialist brokers.
With a proven sales record in the industry his last role was Head of Direct Sales for one of the largest Credit Insurers in the world, Coface.
In his 6 years at Coface, Dave achieved the accolade of top sales person in Western Europe twice, and in the UK four times.
Most of his time is spent growing the client base through finance introductions, client referrals and networking. However Dave is also responsible for managing a portfolio of clients and maintaining the highest levels of customer satisfaction and retention.
Christine has over seventeen years’ experience, beginning in sales & then as an Account Manager working for one of the largest Credit Insurers in the world, Coface.
During this time Christine has managed a mixture of both direct and brokered clients. In her career at Coface she has been recognised as Account Manager of the year twice.
Her skills include being able to manage the entire customer journey, from inception to renewal, as well as being able to manage issues with claims, collections, and negotiate with underwriters on challenging credit limits. Most importantly Christine has the ability to concisely explain everything in such a way that customers feel at ease and comfortable in their obligations.
Her role within the business is to manage the client portfolio and grow the book via customer referrals and introductions.