![\"\"](\"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2020\/06\/4127-logo-531.png\"){kind=logo}
<\/p>\n<\/p>\n
Credit insurers Nimbla and ABL operating system Dancerace have partnered to increase SMEs’ access to<\/strong> credit insurance when they apply for invoice finance. The move is designed to help increase SMEs’<\/strong> confidence at a time when many firms are facing increased defaults by customers.<\/strong><\/p>\n Credit insurance, or Bad Debt Protection (BDP), protects businesses by insuring their outstanding With demand for cover likely to increase in coming months, the new partnership between Nimbla and As well as offering full-book cover – whereby firms and financiers insure every invoice in a ledger Already used by Barclays, Starling and the Federation of Small Business Insurance Services, Nimbla’s As part of the new partnership, SMEs and financiers will now be able to access both single and whole Of the new partnership, Nimbla CEO and Founder Flemming Bengtsen<\/strong> says: “Embedding our risk pricing and risk transfer technology within Dancerace delivers our next generation Elliot Avison, Dancerace CEO<\/strong>, says: “The Government’s Coronavirus Business Interruption Loan Scheme and Bounce-Back Loan Schemes have put commercial finance at the centre of the UK’s economic recovery from COVID, and the forces encouraging SMEs to use invoice finance are the same ones steering them to consider credit insurance. Working with Nimbla to embed their single insurance cover into our platform is, therefore, a natural fit and a big step forward for us and should help give SMEs the confidence they need to start trading again. That’s something that benefits all of us!”<\/p>\n Tags:<\/b> Mark Walker<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
invoices against non-payment.<\/p>\n
Dancerace will increase the range of BDP options offered to businesses when they access commercial
finance from banks and lenders using the Dancerace platform.<\/p>\n
– Nimbla will also offer their unique ‘single invoice’ cover as part of the partnership. This will allow firms
and financiers to insure specific invoices in circumstances where whole-book cover is unnecessary.<\/p>\n
single-invoice policies cost from £5.60 per invoice, with cover lasting up to 12 months. Single-invoice
insurance quotes are provided in 90 seconds via the insurer’s automated system and successful claims
are paid within 30 days.<\/p>\n
ledger insurance cover within Dancerace’s ABL software. An industry standard used by 60 banks and
lenders across the UK, the Nimbla partnership is the platform’s latest integration alongside their existing
insurance modules with Euler Hermes and Tinubu-Square.<\/p>\n
of digital credit insurance to the Receivable Finance industry. In the current climate the need for the
product could not be greater and the efficiencies that it brings cannot be underestimated.”<\/p>\nSee Campaign: <\/strong>https:\/\/thefintechtimes.com\/credit-insurance-provider-and-invoice-finance-platform-collaborate-to-boost-credit-insurance-access-for-uk-smes\/<\/a>
Contact Information:<\/b>
Mark Walker<\/p>\n
<\/a>, Wire<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
\nContact Information:<\/h3>\n
Credit insurers Nimbla and ABL operating system Dancerace have partnered to increase SMEs’ access to credit insurance when they apply for invoice finance. The move is designed to help increase SMEs’ confidence at a time when many firms are facing increased defaults by customers. Credit insurance, or Bad Debt Protection (BDP), protects businesses by insuring their outstandinginvoices … Continue reading Credit Insurance Provider and Invoice Finance Platform Collaborate to Boost Credit Insurance Access for UK SMEs<\/span><\/a> Continue Reading