Solving a problem fast: A RECENT CASE
This client was referred to us by a bank. Their client had been advised by EDC that their credit insurance policy was going to be cancelled as they no longer qualified for coverage due to a lack of exports. They needed to move fast.
We got the call on Friday. After discussing the problem with the customer, we forwarded them an application form. We met with them on Monday to review the application and to ensure it was completed correctly. Next we marketed the firm to 5 Insurers that we knew were suitable for the account. Within 10 days we had competitive terms from all 5 Insurers. They had been paying approximately .8% on sales with EDC for US and Canada. Pricing from the competition was between .3% and .44% with varying levels of deductible. Coverage on all main customers, from all Insurers, was 100%.
The customer selected the best option for them between the top 2 solutions and we were able to back date the policy for them so that there was no gap in coverage. The customer was happy we could do that.
Annual savings of approximately $35,000 for virtually the same coverage with less monthly administration. The bank is happy. The client is happy. A good solution for all.
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Next time you need an Accounts Receivable Insurance Solution, call on us – we’re here to help solve problems and provide affordable solutions.
For more information on your ‘Accounts Receivable Insurance Solution’ or to request an initial, no cost, no obligation meeting to learn more about how we can help you, contact
Mark Hall, B.A. Credit Insurance Specialist at 1-800-661-1518 or 905-525-7259 or
You can also CLICK HERE to review more information on Credit Insurance.