Providing high quality customer support and enabling safer export trade
Atradius has been providing technical expertise in trade credit insurance to our local partners (see below) in Malaysia for the past decade.
Our focus is on providing the highest levels of customer support to our partners, with strong relationships built on a solid understanding of your business, your strategic aims and your markets. With access to information on millions of businesses around the world we work with you to help minimise risk while making the most of trading opportunities, both domestic and export.
The policies are issued by our partners in Malaysian Ringgit (MYR) and include whole turnover, outstanding balances and special product policies. The policies primarily cover commercial risk (insolvency and default) and political risk, and can be invaluable during periods of economic uncertainty, such as those we are experiencing as a result of the COVID-19 pandemic.
It is possible to survive and even thrive during a recession. The key is to be vigilant and proactive about managing your cash flow. This means knowing your customers, understanding your supply chains and actively minimiszing the risk of late payments with tools such as credit insurance.
What is trade credit insurance?
Trade credit insurance is an important tool for any business that offers credit terms to its customers. If one of your customers fails to pay your bills and you don’t have insurance, you may be forced to write off the bad debt. This may impact your cash flow, possibly making it difficult for you to pay your own suppliers on time, or invest in your business. Credit insurance is designed to protect your business from bad debts.
In addition to providing peace of mind and protection against insolvency, trade credit insurance can help your cash flow. This is because many businesses that want to maintain a good credit profile actively seek to pay suppliers with credit insurance first. As a policy holder you will also benefit from the market knowledge of your credit insurer and may use that intelligence to expand into new markets and seek relationships with new customers. Depending on the terms of your policy, this may include local customers, or export trade.
Your credit insurance account manager will help you identify the right policy for your needs and will agree a credit limit with you for your customer. If your customer is late in paying your invoice, your insurer will contact your customer to resolve the delay. Perhaps they just need a bit more time, or perhaps they would benefit from a payment plan. If your customer is unable to pay your bill, your insurer will work to collect as much as possible (this may involve working with legal teams or receivers) and will reimburse you according to the terms of your policy.
Learn more about trade credit insurance with this short video: Credit insurance explained by Atradius.
Contact us
Lonpac Insurance in partnership with Atradius
Trade Credit Insurance Office
7th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman
50000 Kuala Lumpur
Malaysia
Tel: +60 3 2262 8622
Email: info.my@atradius.com
Our partnerships in Malaysia
We work with local partners to provide you with the highest levels of business trade support. Our partners in Malaysia are:
- Lonpac Insurance
- Tokio Marine Insurance (Malaysia)