By insuring all their European operations under one aggregated Coface program, Brother International Europe has gained financial savings, increased insurance coverage and a higher visibility of credit risk.
In brief
Brother International Europe (BIE) was looking to consolidate their trade credit insurance across their European operations. They needed a credit insurer that could deal with them at a local and European level. With its worldwide reach and 100 offices around the world, Coface Global Solutions (CGS) was an ideal fit.
The aggregated CGS policy has offered BIE financial and business gains. This includes blanket coverage across the BIE domain, common trading terms, cost savings, a high visibility of credit risk and increased efficiency through systemised processes.
“We can intelligently manage the business better than we ever could before” - Phil Jones MBE, Managing Director, Brother UK
Coface solution
Brokered through Marsh, CGS offered a comprehensive credit insurance solution that covered all the countries within Brother’s European operations. This was a complex, ambitious project and Brother was impressed at how CGS dealt with the process.
The result
The financial gains were notable as CGS’s new consolidated program was a lower premium than the cost of the multiple policies held before.
“It saved us a considerable sum on our annual premiums,” said Phil. “We now have trade insurance in play using exactly the same process in every operation in Europe.”