Thoughts on the use of Credit Insurance
This article was published by The Channel, an IT sector publication/website http://www.channelregister.co.uk/2013/06/17/lost_meelions_on_reseller_failures_credit_is_a_risky_biz/
The author, Eddie Pacey, is a 35-year veteran of the credit industry, spending more than 20 years running the credit function in IT distribution, and has managed global credit insurance policies.
In the article Eddie not only explains the importance of credit insurance but also the need to use it effectively - "My experience tells me more than 50 per cent of businesses operate the wrong policy, fail to note the value of policy by region or, worse, incorrectly manage it"..........."If as a business you sustain a loss and it's inevitable you will, by all means try to minimise the effect but you can only achieve this through communication, the right policy for your business, contact, rational argument, gentle persuasion and demonstrated control through a successfully managed credit policy".
The CMR Insurance Services Managed Policy is designed to be simple to administer and tackles some of the points Eddie has raised. Our policy is aimed at the SME market and provides cost effective cover with additional benefits such as debt collection and claims handling, and we visit all policyholders to fully explain the terms and essential procedures of their policy.