Atradius supports businesses with credit insurance cover

International businesses turn to Atradius for assistance with credit insurance decisions all over the world.

Today, the Atradius name is recognised globally as one of the world’s leading credit insurance and collections businesses with 168 offices in 42 countries and a team of 3,400 highly skilled people. We not only provide customers with up to date information on 52 million businesses, but also make more than 22,000 credit decisions every day to ensure that international trade is supported by high quality credit insurance cover.

high quality credit insurance cover. With a history spanning almost 90 years, this status wasn’t achieved overnight and the company has undergone a number of key changes along the way to ensure it is always aligned with the needs of international business.

So, where did it all begin? The Atradius timeline started in 1925, with the formation of Nederlandsche Credietverzekering Maatschappij (NCM) in the Netherlands, whose primary goal was to support and improve trade for Dutch businesses and partner with the Dutch government to provide export credit services.

The next key phase of the company’s evolution occurred in 1954 when German insurance company, the Gerling Group, established its specialised credit insurance arm, Gerling Credit, which was the first private company to offer export credit protection.

Following the merger of NCM and Gerling in 2001, the company became a global leader in credit insurance and credit management. To better represent the business and provide a unified brand in the market, the new name of Atradius was adopted in 2004. This coincided with a change in shareholder structure where the Gerling Group was replaced by a group of leading international financial institutions that included two leading Spanish companies, Seguros Catalana Occidente, and, the fourth largest global credit insurer Crédito y Caución. Founded in 1929, Crédito y Caución became part of the group in 2008.

Atradius in Hong Kong and Asia
Atradius’ commitment to Hong Kong spans more than a decade and reinforced by selecting Hong Kong as the location of Atradius’ regional headquarters for Asia in 2007. Atradius business in China, Singapore, Japan and India is also managed through a global network of offices and partners.

Atradius has more than 50 years experience of providing credit insurance expertise and support to businesses throughout Asia, helping to give them the confidence to seize opportunities knowing that the risk of financial loss due to non-payment is covered.

Eric Jan den Boogert, New Business Regional Director with Atradius, explained: “Hong Kong is a perfect vantage point for Atradius to not only observe, but also to deliver credit insurance solutions into, the dynamic Asian market and business environment.”

He added: “The spread of business types, coupled with the diversity of trading requirements, has enabled us to develop outstanding solutions for companies doing businesses within Asia and has given the Atradius team an unrivalled level of knowledge, expertise and experience not only of the markets, but also the business culture and the specific demands of trading in this part of the World.”

Atradius credit insurance
We’ve compiled a brief overview to answer a few common questions. This overview is just a general guide. What is trade credit insurance? Credit insurance is a tool to protect your business against the risk of not getting paid when trading on credit payment terms. Once the goods have been dispatched and your customers have accepted delivery, they are obliged to pay you by the due date. However, if you don’t get paid, then the credit insurance policy covers you against potential financial loss. 

How does it work?
Once the due date has passed and additional pursuit of payment has been ineffective then, at the appropriate time, you can make a claim against your policy. Where the reason for default is the customer’s insolvency, a claim may be made immediately. 

What are the benefits? It minimises a company’s exposure to the risk of financial losses in the event of non-payment, giving businesses the freedom to pursue sales opportunities knowing they are protected.

If banks know your trade finance is protected, it can ease access to loans and other forms of finance as well influencing interest rate negotiation. We provide valuable insight into the financial viability of up to 52 million buyers. 

The truly global solution
To do business freely and confidently in a world that increasingly trades without barriers, the protection of seamless global cover is vital. 

Atradius’ single ‘Global Policy’ is true to its name; a unique solution created in partnership with its account team to meet the specific strategies, objectives and structure of each individual customer business, while protecting exposure to risk. 

One flexible, tailored policy from one global credit partner means substantial savings in complexity and cost. Conflicts and overlaps are written out; bespoke cover and control are written in. 

Companies can, for example, select umbrella cover with common terms for the group and add individual policies for each country that reflect local terms and situations.

The Global Policy is central to Atradius’ ability to protect its customers’ bottom line and improve cash flow, enabling them to trade with confidence anywhere in the world. This includes access to Atradius Collections, a global network of collection specialists, lawyers and insolvency practitioners covering 220 countries, to help ensure customers’ invoices get paid on time.