Trade credit insurer Atradiushas enhanced its support to SMEs with a new streamlined cover option.
Atradius Modula Freedom protects SMEs from the risk of non-payment and is designed specifically with smaller businesses in mind. Freedom is simple yet effective, making trade credit insurance more accessible for SMEs. The policy cuts through any jargon and although uncomplicated, includes all the features that an SME business will need.
Atradius Modula Freedom has a transparent, fixed pricing matrix including affordable fixed premiums with credit check decisions included in the price. Supported by Atradius’ new and sophisticated online platform Atrium, insured customers can manage their policy from any location, and can track buyers and credit limits as well as log claims when needed. An international collections service is also included in the policy to further help businesses cash flow and debt management.
The added protection against customer insolvency follows a rise in business insolvencies since Q3 2016. Atradius economists forecast an increase in insolvencies of 6% this year and 8% next year.
Richard Reynolds, of Atradius, said: “Non-payment is the single biggest risk facing businesses today with the potential to squeeze cash flow and even cripple a business. A customer becoming insolvent is never easy to bear but, when you’re a SME, the financial blow has even more impact and can turn what would be a crisis for larger firm into a potential catastrophe. In an economic environment where insolvencies are expected to increase, it is imperative businesses protect themselves from the risk of non-payment.
“Atradius understands that the needs and daily workings of a SME are unique to them and they therefore require a trade credit insurance policy that reflects this. Atradius Modula Freedom offers the protection SMEs need with a format, pricing matrix and clear features designed specifically for them alongside Atradius’ best-in-class customer service.”
Atradius Modula Freedom replaces the former Modula First policy and is now available nationally.