Euler Hermes: improving buyer/insurer relationships.
Credit insurer launches buyer hotline
Published: 23 November, 2009
LONDON: Credit management and insurance company Euler Hermes UK has launched a Buyer Line – a dedicated channel for companies to share financial information more promptly and directly with one of 11 locally-based Euler Hermes Risk Offices.
According to Kris Macauley, Head of Risk Information at Euler Hermes UK: "The launch of a dedicated telephone line will significantly improve the buyer/insurer relationship, allowing buyers to share information with our local teams more quickly and easily, and in turn enabling us to make better informed underwriting decisions to support trade.
"Our role is to steer our policyholders away from the greatest risk, and our decisions are based on the most up-to-date information gathered from our Risk Office network," he stated.
"The challenge over the past 12 months has been to build better relationships with buyer customers of Euler Hermes' policyholders. This improves the quality of information received and ultimately the quality of underwriting decisions that are made," he added.
Most buyers now accept that their reluctance to provide current management accounts or refusal to requests for further information can be viewed negatively by the credit insurer, Mr Macauley believes.
"A positive engagement between buyer and insurer is more likely to result in a better outcome and cover being maintained."