Leading a small or midsize business can feel like commandeering a tanker without a crew: The pressure, expectations and responsibility fall on that entrepeneur’s shoulders, especially if their vessel sinks, runs ashore or gets lost at sea.
Enter credit insurance, a buoy for small and midsize enterprises (SMEs) that can keep them afloat in the event of a severe financial loss.
“It’s a really important product, but a lot of businesses aren’t aware of it,” Sarah Murrow, CEO of Allianz Trade in North America, recently told PropertyCasualty360.com.
Of all the businesses in the U.S. that could buy credit insurance, she said, Allianz Trade estimates that only about 5% to 7% of them currently carry the product. “Businesses aren’t aware... of all of the benefits this product has,” said Murrow, a chiseled veteran of the global insurance business who has worked with Allianz, both in the U.S. and abroad, for about two decades.
Credit insurance accounts for roughly $9 billion euros in annual written premium for Allianz Trade, she added.
The slideshow above summarizes the value proposition posed by credit insurance, especially for small and midsize businesses.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.