Brokerslink Launches Trade Credit Insurance Practice

Brokerslink, the network of independent brokers, has introduced a specialised Trade Credit Insurance (TCI) practice, as it seeks to meet increased demand from international affiliates.

The new TCI practice will provide Brokerslink’s Partners and Affiliates with exposure to a shared pool of expertise in the Trade Credit sector, ensuring brokers are able to enhance their services for local and multinational clients.

The Practice will be led by five regional ambassadors: Miguel Carranza from Alliant for the Americas, Phillip Krinker from MDS Group for LATAM, Frantz Bouchereau from Filhet-Allard Credit for Europe, Amine Bengraiou from Alpha Assurances for Africa, and Dongmin Lee from LK Insurance Services for APAC.

José Manuel Fonseca, Chairman of Brokerslink, said: “Our latest dedicated knowledge hub will share the immense wealth of specialist knowledge we have across our broking community. This, along with our employee benefits and risk management practices, allows us to pool this knowledge for the mutual benefit of our network.”

The initiative comes after a recent network survey showing that three-quarters of brokers are keen to expand into Trade Credit Insurance, with half of these brokers identifying existing regional accounts that require support, which Brokerslink is well positioned to provide.

Alongside sharing Trade Credit knowledge across the global network, the new practice aims to expand access to credit and surety capacity and develop opportunities for international business and broader market reach.

Krinker, Leader of LATAM: “The trade credit insurance market already sees global premiums in excess of $11 billion with an annual growth rate in the region of 10-30%. Whilst the sector is currently dominated by large corporations in Europe and Asia, the opportunities globally are substantial. We’ve recognised this opportunity and responded to the demand coming from the network.”

“The new TCI Practice has been designed to facilitate knowledge transfer between brokers, share best practices and help them bolster their propositions,” Krinker added.

Brokerslink’s goal is to help the management of new global trade credit accounts from brokers’ existing portfolios and generate new trade credit insurance premiums for the market.

The announcement is part of Brokerslink’s wider strategy to share specialised market expertise and to foster cross-border collaboration and growth, such as the Employee Benefits Practice it launched last year.