Allianz Trade clinches Business Insurance win at HKB Greater Bay Area Enterprise Awards 2022

The company allows customers to expand markets and grow their business through streamlined trade credit services and a simple plug-and-insure solution.

Credit insurance firm Allianz Trade in Asia Pacific has taken home the Business Insurance category at the recently held HKB Greater Bay Area Enterprise Awards 2022 for its China-Hong Kong Corporate Solutions Platform and e-commerce credit solution.

The China-Hong Kong Corporate Solutions Platform is a one-stop trade credit insurance solution for corporates to help companies expand domestic markets in China and international trade markets by providing fast, efficient and streamlined trade credit services to excel in both domestic and export trade markets. Through the platform, customers can formulate credit insurance policies to suit their needs for trade development, aiding their company in exploring domestic and international markets.

In addition to enjoying preferential rates, Allianz Trade also provides customers with a seamless service model and aligned policy framework for both Hong Kong and China. The customised policy set-up allows for efficient, easy policy management and also ensures that the legislation systems of both markets are compliant, minimising risk, and mitigating potential issues. 

Moreover, the platform also has a worldwide database with local expertise to help filter high-quality customers and develop new markets. Allianz Trade’s extensive database covers more than 83 million businesses, helping clients monitor the credit risk of existing and new clients. When customers default on their accounts receivable, Allianz Trade’s international debt collection services will also assist in recovering the accounts in a legally compliant and professional manner.

Meanwhile, with B2B e-commerce expected to grow at a 17% compound annual growth rate until 2027 and a market size of EUR 21t, Allianz Trade is leveraging its position as the global leader in trade credit insurance to expand into the B2B e-commerce space. It aims to do this by introducing an e-commerce credit solution, which provides peace of mind to e-merchants to grow their online business by offering deferred payment terms through simple plug-and-insure solutions.

It has a two-fold strategy. First, it looks to directly address large merchants and give them the ability to offer credit terms to online customers. In addition, it is able to support businesses that provide buy-now-pay-later (BNPL) services to sellers who want to offer BNPL terms. Its strategy is to offer a bundled product by partnering with fraud specialists and banks and offering it to both traditional sellers and platforms.

The e-commerce product allows customers to offer deferred payment terms to their buyers, confident that the transactions are secured. With e-commerce credit insurance from Allianz Trade and via API integration, sellers can safely and automatically propose deferred payment terms to their customers in real-time.

The HKB Greater Bay Area Enterprise Awards is presented by Hong Kong Business Magazine. To view the full list of winners, click here. If you want to join the 2023 awards programme and be acclaimed for your company's initiatives in the Greater Bay Area that foster mutual cooperation, investment, and development, please contact Bianca Penaranda at [email protected].