Credit Insurance

Each company that bills invoices has to protect itself against exposures resulting from bad debts. This protection is normally done via credit insurances. 

Whereas credit insurer assign limits under certain conditions (obligations or conditions precedent to the policy) in order to minimize their own risks. The fulfilment of these obligations will be a must for you. These are comprehensive requirements which you will easily accomplish with the support of FACT.pilot.

FACT.pilot maintains and considers for you all credit insurance parameters like: 

• Customization of the credit insurance policy in the system
• Administration of several credit insurance policies per factoring client
• Distinction of named and unnamed limits
• Entrainment of the credit insurance reference number
• Definition of the validity period
• Administration of limits for main and sub insured, i.e. consideration of overall limits as well as consideration of special overall limits including limits for sub insured
• Season limits
• Automatic consideration of own payment experiences within the unnamed limits
• Comprehensive reports and analyses
• Etc.

FACT.pilot supports you with the fulfilment of all credit insurance obligations with automated reports to the credit insurer like:

• Information about exceeding of the maximum credit period
• Reporting of protracted defaults
• Non-payment information
• Reporting of turnover or accounts
• Information about new and increased applications

With FACT.pilot you can be sure to fulfil your obligations at any time!