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What to do if you anticipate a problem with debt collection?

<p>Michael Kolb_Goran Tolic_Alexander Kamitz_Acredia</p>
Michael Kolb_Goran Tolic_Alexander Kamitz_Acredia / Image by: foto

While the Croatian debt collection insurance market is still developing, entrepreneurs around the world are utilizing this form of insurance and entrusting risk management to third parties to improve their creditworthiness and protect themselves from difficulties in debt collection.

Most Croatian entrepreneurs face collection issues

The necessity of this form of insurance for companies in Croatia is confirmed by the results of a survey conducted by Acredia, the leading Austrian credit insurance company specializing in debt collection protection. A survey conducted earlier this year on a sample of 150 small and medium-sized enterprises showed that 80.7% of Croatian companies do not have debt collection insurance, even though 84% of respondents faced difficulties in collection in the last 12 months. Based on local expertise and global networking, Acredia provides credit insurance products that are essential for smart and successful risk management for businesses. It can also step in when a customer cannot pay, thereby protecting the claims of companies in Croatia and abroad.

Insurance against numerous risks

Acredia enters the Croatian market with its product Acredia GLOBAL, a bestseller that allows companies to protect payments worldwide. In addition to economic risks such as customer insolvency and payment delays, they also insure against various other risks such as foreign currency blockages or inability to pay due to conflicts or unrest. In addition to introducing new products aimed at small and medium-sized enterprises, plans for the Croatian market also include educating the market about the importance of debt collection insurance.

Acredia has been present in Croatia since 2012 as part of Allianz Trade, and the market potential of Croatia prompted them to start direct operations under their own name in July 2022. Michael Kolb, a member of the Acredia management board, stated: “Acredia, responsible for operations in Southeast Europe as part of the Allianz family, has been assessing companies in Croatia for years and is very well acquainted with the Croatian market. We check the creditworthiness of over 85 million companies worldwide daily. We can alert our clients to the reliability level of the customer they intend to do business with before they contract it. If it turns out we were wrong, we will cover the loss.”

Learn more about Acredia and the products it offers at the link.

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