Nimbla, the pioneering invoice insurance startup, today announced a commercial partnership with QBE, one of the world’s leading business insurers, with the goal of bringing affordable trade credit insurance to small and medium-sized businesses.
The new partnership makes Nimbla a delegated underwriting authority of QBE and allows Nimbla to expand into new geographies through the global capabilities and professional network of QBE.
Nimbla, based in London, is a digital insurance platform designed to protect small and medium-sized businesses against insolvent customers. Providing fast and flexible insurance, Nimbla can help businesses expand into new and existing markets, secure invoice funding, and safeguard against insolvent customers.
Nimbla is a 2018 graduate of the Barclays Accelerator powered by Techstars in London. Nimbla and QBE’s commercial partnership is a result of Techstars’ and QBE’s Network Engagement Partnership, a programme that creates opportunities for QBE to gain access to Techstars’ network and connect with startups, founders, mentors and investors to advance their innovation goals.
Flemming Bengtsen, CEO and Founder, Nimbla, said:
“We are thrilled to now be working with QBE, a Standard & Poor’s A+ rated business insurer. Together we are committed to revolutionising the trade credit insurance industry, both here in the UK and abroad."
Nicky Ablett, Head of GlobalCredit & Surety, QBE Insurance Group, said:
“At QBE Global Credit & Surety, we are proud to listen to our customers and feel that the Nimbla platform gives those customers total flexibility and automation by using innovative technology and data science to make the product much simpler to use and attractive to smaller business. We are excited to be partnering with them to support this fast-growing sector.”
This announcement coincides with the launch of Nimbla’s new online platform, which has been redesigned from the ground up to make it easier and faster to use.
Launched in 2016, Nimbla has created a digital insurance platform that enables small and medium-sized businesses to check the risk of their customers and prevent losses from bad debt by insuring invoices against non-payment without the traditional restrictions of trade credit insurance.
QBE Insurance Group is one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018, was US$13.7 billion.