What is a Credit Insurance Broker?
A credit insurance broker acts as a knowledgeable guide who can navigate the complex landscape of trade credit insurance on behalf of businesses. They are independent experts who don’t work for a specific insurance company or law firm but rather represent the interests of their clients. By thoroughly understanding a business’s unique trade credit risks, the broker leverages their market knowledge and relationships with various credit insurers to identify and negotiate the most suitable and cost-effective insurance policies.
Beyond simply securing a policy, a good credit insurance broker provides ongoing support, assisting with policy management, claims processes and offering expert advice on credit risk mitigation strategies. We will explore some of the best credit insurance brokers in Singapore throughout this ranking, so continue reading to find out more.
Here are some of Singapore’s leading Credit Insurance Brokers
- Howden Singapore
One of the main benefits of Howden Singapore is that they offer bespoke trade credit insurance solutions that are tailored to the client’s specific needs. Focusing on understanding the risks involved for clients significantly helps with their process, as they give quality coverage for negotiations all year round. They provide further cover options that credit insurance too, such as whole-turnover, single contract and domestic/export.
- AWG Insurance Brokers Pte Ltd
Offering a range of corporate insurance in Singapore, AWG Insurance Brokers Pte Ltd is a well established credit insurance broker that gives clients more control over the process. Some of their main benefits that they advertise include effective control of bad debts, cash flow relief and higher levels of funding at better rates. Their credit expertise is second to none.
- BPL (Berry Palmer & Lyle)
Having their own Singapore based location, BPL have expertise in several client sectors from infrastructure, to commodities, renewables and finance. This means that no matter the industry your company is in, BPL can help you obtain the best rates with little hassle. They also have the ability to enhance protection against Insolvency, protracted default and political risks.
- Marsh Singapore
Marsh provides a wide range of trade finance solutions in Singapore that can help businesses manage their receivables risk. They pride themselves on forming lasting relationships with clients that will be nurtured over a long period of time. Relationships with major insurers are also kept by Marsh to ensure that they can negotiate cost-effective coverage for their clients’ trade credit risk. They don’t just offer Singapore services, as their services are multinational so they can help businesses around the world.
- PH Credit
When you search ‘credit insurance brokers’ on Google, PH Credit ranks number 1 and there’s a good reason for that. They have vast amounts of trade credit insurance experience that provide a cost-efficient, diligent and personal service that can be catered to each client they receive. PH Credit has specialist credit insurance broker status with some of the leading insurance companies. This includes Atradius, Allianz Trade, Coface UK and Chubb.