Manchester’s Bridge Insurance Brokers Ltd has launched the UK’s first broker-branded portal for credit insurance clients.
The 50 year old business has partnered with The Trade Cover Exchange to create the platform, which will allow clients to get credit insurance quotes from multiple insurers for a single invoice, simply by registering and selecting the debtor they wish to cover as well as the invoice amount and due date.
The portal will support large and small businesses needing to compensate for the negative impact of COVID-19 on their revenues, as Mark Johnson from Bridge explains: “Businesses will need to identify new clients, domestically as well as abroad, and originate larger commercial deals with existing customers. They may start to export for the first time or explore new international markets. All of this comes with risk attached, and while whole turnover policies have always been the traditional choice, single invoice protection from the portal provides a more cost-effective and swift option, to immediately offset the risk and give business owners peace of mind.”
Trade Cover Exchange Chief Executive Gerard van Kaathoven adds: “Our marketplace aims to make trade credit insurance as easy and transparent as possible. We are pleased to have started this partnership with Bridge Insurance Brokers Ltd, one of the largest independent insurance brokers in the United Kingdom.
“The combination of our digital trading platform for single invoice insurance and the client base of Bridge Insurance Brokers Ltd will enhance their clients’ ability to grow their revenues safely.”
Mark concludes: “It’s important to provide the most appropriate service to customers and while we still provide bespoke management and account teams across all our divisions, this launch heralds a giant move forward compared to the more “traditional” route of obtaining credit insurance.”