TALKING INSURANCE

The South African credit
insurance environment
is undergoing significant
positive changes with the
introduction of new insurers
and healthy competition, in
the view of Kathleen Naidoo,
head of credit at Eikos Risk
Applications.
Credit Insurance Solutions
(part of the RMB stable),
as well as Euler Hermes
(the largest credit insurer
in the world), are the two in
question, says Naidoo.
“In order to make credit
insurance work for your
company, it’s vital to know
exactly what to look for in
a credit insurance provider.
It’s impossible to decide on
a provider based solely on
price. You need to look at
which credit insurer will
best complement a client’s
internal credit process as
well as the insurer’s ability
to provide the debtor limits
required,” says Eikos director
Jason Freeman.
Credit insurance is a credit
risk management tool that
covers a company’s debtor’s
book or accounts receivables
against non-payment for
national and international
business-to-business trade.
“There are many benefits of
taking out credit insurance,”
says Freeman, “among these
the fact that it provides access
to expert assessment of
payments relating to domestic
and international debtors.”