Welcome back to the Nimbla News Funder edition. If you would like to receive this direct to your inbox then click here to subscribe. Here are the headlines:
➡️ 88% of nil limits sent by Top Tier Broker for review were insurable by Nimbla - Review your gap fill needs
➡️ As loss payee you are still at risk of non-payment if the client goes insolvent. We have a solution
➡️ Nimbla has new products offering up to 6 month cover on single invoice and single risk. Recent deal detailed
Read on for more detail...
Gaps in your current whole turnover policy? We can fill them
We have seen a huge increase in gap fill enquiries from banks, lenders and brokers in the last 3 months.
Our flexible products and data-driven underwriting allow us to provide short and long-term solutions that others cannot.
Here you can see the outcome of a recent review of nil limits with a Top Tier Broker:
Purchase direct, refer or embed? What is right for you?
There are a number of options available to Funders & Fintechs that use trade credit insurance or want to offer bad debt protection as part of their product offering.
The question we are often asked is:
“As loss payee on the policy, are we covered in the event of an invoice not being paid due to our client going insolvent, as opposed to the end debtor going insolvent?”
Our answer is...
“As loss payee you are still at risk of non payment if the client goes insolvent. Our Funder App allows you to purchase the policy as a policyholder and add the supplier and buyer details to the policy. This ensures that you can submit a claim regardless of whether the client is solvent or not.”
We’re here for you
Here is an example of how we helped one Funder recently.
A recession brings with it a need for businesses to access more finance but of course there are heightened risks for Funders like yourselves in financing those businesses. We'll be hosting our latest webinar this month, introducing you to our Funder Proposition and how it can help - click here to get the invite.