Marsh Team with FGI Risk Services to Deliver Enhanced Trade Credit Policy Management and Servicing Support
Marsh has signed a multi-year agreement with FGI Risk Services to deliver enhanced trade credit services to Marsh clients. Under an agreement with FGI, Marsh will license FGI Risk Services' TRUST policy management platform to provide policy management and servicing support for the trade credit insurance policies placed by Marsh for its clients.
The new policy management offering, called Marsh Trade Credit powered by FGI TRUST, is a web-based platform that combines Marsh's industry-leading trade credit specialists with the technology, processes and personnel of FGI Risk Services. The offering is designed to optimize services for trade credit insurance policies issued by Marsh to its clients. It also enables policy management support for advanced servicing functions, such as buyer credit limit requests and appeals, and may lower the operational costs for risk management organizations.
"The global financial crisis has highlighted the need for policyholders to proactively manage trade credit insurance policies," said Evan Freely, global leader of Marsh's Political Risk & Trade Credit Group. "Marsh's global network and trade credit expertise, combined with the unparalleled servicing platform of FGI Risk Services TRUST platform, allows us to better meet the coverage and servicing needs of our clients, and to expand into new areas. Through this offering, Marsh and FGI Risk Services are raising the bar for broker value-added services in the trade credit insurance marketplace."
"Trade credit insurance can be a very powerful product, but requires significant management and maintenance to deliver maximum value," said Fred Voccola, President of FGI Risk Services. "The FGI TRUST program fully automates the critical compliance and maintenance needs required to optimize these programs, eliminating manual and often costly efforts. This offering can help Marsh's customers realize the complete value of their trade credit programs, without a significant investment of time and effort."