There are many reasons for you as an insurance broker to strengthen the bond within the credit insurance sector and actively participate as members of KGFF. Credit insurance is still a relatively underdeveloped part of the insurance sector in Sweden, and the market penetration is one of the lowest in Europe. Therefore there are large possibilities for new business with both new and existing customers.
The Swedish Credit Insurance and Surety Association (KGFF) includes EKN, private credit insurance companies, brokers, banks and other relevant persons/companies in an association whose purpose is to spread knowledge and information about the value of credit insurance for Swedish trade and export.
Credit insurance, insures payment defaults and reduces the risk in factoring and other types of business financing, the receivables that act as security may be insured against possible credit losses. Companies’ receivables often represent more than 1/3 of the total asset base. Credit insurance could improve security of financing contracts.
With credit insurance you, as an insurance broker, can support your clients to protect one of their most important and most volatile assets, namely the clients’ receivables. Apart from a protection against credit losses credit insurance can help your clients with expansion towards new markets as well as contributing to create new financial possibilities.
KGFF hopes that you as insurance brokers become a member of this organization and we can together help each other to jointly develop the Swedish credit insurance market.