Benefits | Prva kreditna zavarovalnica

The benefits of credit insurance

Achieve your business goals. Ensure yourself payment of indemnity in case of buyer default.

Benefits

A company that controls its business operation can achieve business targets faster and more effectively. The benefits of credit insurance provided by First Credit ensure you a safe, reliable and financially stable business operation.

In this section you will learn about:

  • The benefits of credit  insurance for your undertaking
  • The benefits of credit insurance for your financial institution
  • The benefits your financial institution gains if it receives the rights from your insurance policy
  • How to sign an insurance policy in only 3 steps

Insure your assets and immediately start gaining benefits that will improve your business operations

A credit insurance offers a series of benefits you can claim by concluding a policy with First Credit.

  • You are entitled to a compensation should, for any reason, your customer be unable to settle its liabilities. This guarantees that you will receive your money even if your customer declares bankruptcy.
  • Achieve your business targets faster, increase your income and profitability, and expand your sales onto new and unknown markets with greater confidence.
  • Provide your business with a stable cashflow and make future planning easier.
  • Your company will gain a higher level of economic security because it is protected against financial loss.
  • Your credit rating will improve which will put you in a good light with lenders what, essentially, means better financing options.
  • You can—partially or completely—transfer your rights from the insurance policy onto a chosen fund provider (assignment of receivables).
  • First Credit will monitor credit ratings of potential customers or conduct constant monitoring of your existing customers and offer you ongoing assistance and support.
  • Save time and money by reducing administrative costs as you will not have to asses customers and examine their solvency, and submit all documentation fast and easy via the web app PKZ-Net. It is important to note that insuring your whole turnover does not require you to set a specific default payment instrument for each single claim.
  • A credit insurance will make sure you are responsibly managing your risks.
  • Gain tax and accounting benefits: insurance premium is a recognized cost and a credit insurance will reduce provisions for bad claims.

How does your financial institution benefit from your credit insurance?

  • As a result of your good credit rating, your financial institution will face less risk—this means that you are a reliable borrower.
  • Closing an insurance contract means that you are responsibly managing your company’s risks.
  • Not only could you significantly improve your rating but your financial institution could also benefit from the increased income and profitability of your undertaking.

What does your financial institution gain if you transfer your insurance rights onto it?

  • Credit insurance prevents assignment of receivables between connected parties which allows your financial institution to set a proper collateral. A record of insurance rights disables multiple insurance of receivables.
  • The fact that your customers had been verified and genuine facilitates your financial institution in making decisions regarding the scope of your financing and warrants the amount of your credit limit approval. The approved credit limit represents a realistic estimation of the future exchange with customers which is a great foundation for the assessment of your financing needs.
  • Your financial institution receives information on limit change (level, self retention, conditions), defaulted settlement of outstanding premiums, termination of insurance contract, etc. in the shortest time possible. This kind of monitoring applies only to assigned (transferred) limits.
  • Your financial institution will receive indemnification even if your company declares bankruptcy. In this way, your bank receives the funds to settle all credit obligations.

Insure your receivables in only 3 steps and start doing better business

  1. In order to obtain more information on your business, we ask you to complete the Questionnaire.
  2. You will then receive a customized offer in the shortest time possible.
  3. You sign a policy.

The right information is worth more than a hundred news

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Frequently asked questions

  • If we have credit insurance, does this help us in getting bank loan?

    Yes, the insurance policy improves the creditworthiness of the insured, since banks and business partners know, that you have your credits insured. In addition you are also able to transfer your rights from the insurance policy also to bank or other financial institution (assignment). With this you partly or entirely substitute other forms of collateral, which the banks and other financial institutions usually request, and as a consequence you are entitled to the better financing conditions.

  • Do you also cover the costs of recovery against the debtor?

    Yes we do, in the same proportion, as we have covered the loss.

Contact

Davčna ulica 1 (south entrance)
1000 Ljubljana
Slovenia

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