Dialogue, the award winning independent, complex credit insurance platform has launched an innovative algorithmic underwriting engine, creating access to new, automated, credit insurance capacity for brokers for the first time. Specialist MGA Nimbla is the first to sign up to a partnership with Dialogue to help increase its distribution across the syndicated credit insurance market.
Nimbla can now leverage this Lead/Follow engine to help increase access to its capacity for brokers and clients, allowing brokers to automatically approach additional insurers with trusted and agreed terms.
Nimbla currently uses algorithms to assess risks, protecting businesses against late payments. Nimbla’s unique technology enables businesses to insure individual invoices and credit limits against non-payment in a fast, affordable way. As a result of this agreement withDialogue, Nimbla is now able access the syndicated part of the credit insurance industry and distribute to new markets.
With risks becoming larger and increasingly requiring syndication, Dialogue’s engine provides an effective way to increase liquidity for brokers, while also reducing unnecessary complexity of the actual transactions, through algorithmic underwriting and automation.
Dialogue is already working with 90% of credit insurers and aims to continually innovate, pushing boundaries to better increase the size of the credit insurance market. Dialogue’s newLead/Follow offering aims to achieve just this. It's fully API enabled, independent and neutral, meaning any broker or insurer can either use the browser interface, or connect their own internal system to access the same functionality.
Ben Heaney, CEO of Dialogue said: Dialogue’s core goal has always been to increase the size of the credit insurance market, in addition to closing the gap between risk and capital. With Lead / Follow, we’ve achieved both. Only a fraction of the world’s insurers offer credit insurance - there is a vast need to minimise the gap, while widening the pool of insurer opportunity. Our Lead / Follow engine is the result of substantial and continuous investment in data and technology and we are delighted to enter into this agreement with Nimbla to assist and enhance its distribution.
Elizabeth Jenkin, CEO at Nimbla said: We naturally look to partner with ‘technology first’ companies. Our partnership with Dialogue will enable Nimbla to distribute to new markets, including some of the longer term, structured credit placements, many of which are syndicated. Dialogue’s new Lead / Follow model is a powerful development that we are excited to support which will bring additional capacity to assist brokers and customers.