Small and medium-sized enterprises (SMEs) form the bedrock of our economy, yet they often find themselves underserved in the trade credit insurance market. This situation presents both a challenge and a significant opportunity for insurers, MGAs, and brokers.
The crux of the issue lies in the delicate balance between volume and risk assessment. The sheer number of potential SME clients is vast, but accurately evaluating the associated risks has traditionally been a resource-intensive process. It’s akin to navigating a complex maze with limited visibility – the potential rewards are clear, but the path forward is fraught with obstacles.
The key to unlocking this potential lies in leveraging automation intelligently. This isn’t about replacing human expertise; rather, it’s about augmenting it. By implementing advanced data analytics and streamlined processes, we can dramatically increase the efficiency of buyer underwriting and credit limit decisions.
Automation allows us to process vast amounts of data quickly and accurately, bringing previously overlooked SMEs into sharper focus. It enables professionals to dedicate their time and expertise to the nuanced decision-making that truly adds value, rather than getting bogged down in routine tasks.
Another avenue for growth lies in client empowerment. Many SMEs have straightforward requirements when it comes to trade credit insurance. By providing intuitive, self-service portals integrated seamlessly into the overall IT architecture, we can cater to these needs efficiently.
This approach not only improves the client experience but also allows insurers, MGAs and brokers to handle larger volumes wiithout proportionally increasing their workload. It’s a strategic move that benefits all parties involved.
With over 25 years of experience in developing risk management software solutions, SCHUMANN stands at the forefront of technological evolution. Based in Göttingen, with a subsidiary in London, we pride ourselves on our independence and our ability to focus solely on delivering value to our clients.
Our solutions span a wide array of industries and functionalities, with advanced offerings specifically tailored for surety and trade credit insurers and MGAs. These tools are designed to enable businesses to scale operations effectively, optimise underwriting processes, and enhance client relationships through intuitive user experiences.
By leveraging credit & surety software, you can:
Efficiently scale your business
Improve the accuracy of buyer risk assessments
Increase client retention through user-friendly interfaces
Optimise credit limit decisions through intelligent automation
Ensure your unique selling point is accurately captured by software tailored to your needs
The landscape of trade credit insurance is evolving, and the opportunities for growth are substantial. By embracing automation and client centric solutions, insurers, MGAs, and brokers can unlock new levels of efficiency and service in underwriting and credit limit management.
Micha Teweleit is Sales Manager for Credit & Surety and works as a consultant for international credit insurance companies that want to digitalise and automate their risk and business process management systems.
He completed his Master's degree in Business Information Systems at the Georg-August University in Göttingen.
Sales Manager, SCHUMANN
