PriyaPatel
TLDR:
- Insurtech Bondaval enters trade credit market with launch of first product.
- Product aims to offer simplified policy compliance and enhanced portfolio insights.
London-based insurtech Bondaval has recently entered the trade credit insurance market with the launch of its first product in this line. The company’s chief underwriting officer, Tom Powell, expressed excitement about working with new and existing broker partners to explore opportunities for market expansion. The product, backed by Great American International Insurance UK, aims to provide credit teams with simplified policy compliance and enhanced portfolio insights, all while being supported by the Foreign Credit Insurance Association (FCIA). The policy will initially be available in the UK and European Union.
Bondaval’s approach to the market emphasizes the importance of client relationships and aims to utilize these relationships to maximize benefits for customers. The insurtech’s chief relationship officer, Sam Damoussi, highlighted the focus on bringing intelligent technology and financial risk underwriting together to help broker partners add value to their clients and unlock new opportunities. Policyholders will have the ability to manage their policies through Bondaval’s in-house platform, designed and built by the company’s product and technology team.
The launch of this trade credit product marks Bondaval’s entry into a new market and showcases its commitment to innovation and client-centric solutions. By providing simplified policy compliance, enhanced portfolio insights, and intelligent technology, the insurtech aims to make a significant impact in the trade credit insurance sector.
