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Insurance Business Review: Specials Magazine
Running a business without a proper credit risk strategy is like setting sail with no weather report. The skies might look clear, but one wrong move—a late payment, a defaulting customer, an uninsured shipment—and suddenly you’re in a storm. That’s the reality many midsize, multinational firms have faced for years. They are too big for one-size-fits-all insurance, too complex for off-the-shelf advice and too often left dealing with providers who offer products rather than partnerships. GfK Gesellschaft für Kreditversicherungsservice doesn’t do pre-packaged solutions. For over three decades, it has acted less like a broker and more like a guide, helping clients wade risk with precision, responsiveness and uncommon care. Its expertise spans credit insurance, factoring advisory and global risk implementation and its value lies in how these tools are applied. GfK helps companies secure receivables, strengthen liquidity and confidently enter new markets through a tailored strategy. “We centre everything on craft. It’s not glamorous work, but for our clients looking to grow without capsizing, we’re the difference between steering blind and staying one step ahead of the waves,” says Winfried Vogt, owner and CEO. That depth of service is reinforced by reach. GfK’s international network, FaroSol, co-founded by Winfried Vogt and Angelo Piazzoli, COO and MD, enables the firm to combine local expertise with a global perspective. Clients receive proper support, wherever they trade, anchored by people who understand the risks and the ground realities. Managing Risk with Custom Solutions Navigation is only as good as the map guiding it. At GfK, that map is drawn from a forensic understanding of each client’s receivables structure and the risks embedded in every transaction. This level of insight ensures that before any policy is written, GfK can pinpoint exposure and understand how a single disruption, like a late payment or buyer default, could ripple through the business. The team designs credit insurance programmes that support broader business resilience and growth. These solutions support liquidity, strengthen balance sheets and unlock financing that might otherwise remain out of reach. For long-term capital goods projects, GfK structures policies up to 60 months, far beyond the traditional 12-month limit. Manufacturing risk is built in, protecting production costs even before delivery. For high-value or one-off orders with no payment history, insured claims are used as collateral to give businesses leverage to negotiate refinancing.
Insurance Broker
BAVARIA AG was founded in in 1973 by Dieter Krautgartner to exhibit its services with reliability and personalized care in the European insurance brokerage space. Since then, the company has been committed to fostering strong client relationships through a personal touch that transcends industry norms. Following Krautgartner's legacy, BAVARIA AG remains a frontrunner in traditional speciality insurance brokerage, setting new standards while being dedicated to fulfilling its client’s needs. “Central to our success are the core principles of reliability, personalization, and directness,” says Sandra Ahrabian, chairwoman of BAVARIA AG's supervisory board. “These principles are not merely buzzwords but ingrained in the company's ethos, guiding every interaction and decision.” BAVARIA AG's steady binary growth over the years serves as a testament to the effectiveness of this approach, setting it apart from competitors in the market. The company’s expert employees are at the forefront of handling damages, insurance, and claim settlements. Clients can rely on the company to provide round-the-clock support and remain the direct point of contact for any questions or concerns. With a focus on procedures and the progress of claim cases, BAVARIA AG works closely with insurance companies to ensure swift and satisfactory resolutions for its clients. One of the distinctive offerings of BAVARIA AG is its aircraft insurance classification system, tailored specifically for single-engine aircraft. This proprietary system utilizes a comprehensive database to assess each aircraft and pilot, considering factors such as pilot workload and technical specifications to determine insurance premiums. By customizing premiums based on individual risk profiles, BAVARIA AG ensures fair and competitive pricing for its clients.
Specialty Insurance
Pulse Insurance excels in providing specialty innovative insurance solutions for individuals and businesses facing higher-than-standard risks. Authorised fully by Lloyd’s in the UK and Brussels in Europe, both premier names in the insurance marketplace, Pulse Insurance wields the independence to underwrite personal accident and travel risks directly. This autonomy allows the company to offer comprehensive coverage across Europe, blending competitive rates with broad policy provisions to strengthen operational resilience. What sets Pulse Insurance apart is its commitment to customisation. Recognising that one-size-fits-all solutions are often inadequate, it proactively adjusts its policies to better fit the distinct needs of each client. This flexibility is a significant advantage, streamlining the underwriting process by minimising referral points, which in turn speeds up decision-making and policy implementation. As a result, businesses can secure the essential coverage they require swiftly, ensuring continuity in their operations. Joe Balsom, head of specialty at Pulse Insurance, encapsulates the company’s ethos, stating, “Finding the best solution for clients has always been in our DNA. We ensure that holding a Pulse Insurance policy means being in safe hands.” The company shines in the realm of niche insurance. It offers personal accident insurance and optional sickness coverage—plans precisely designed to protect businesses when employees are incapacitated by illness or injury. These policies are a lifeline for companies, allowing them to compensate affected employees or hire additional staff to maintain operational continuity. This layer of protection is vital for SMEs, where the stability of the workforce is directly linked to sustained business performance. The benefits of Pulse’s comprehensive approach extend to employees. Offering travel insurance as an employee benefit means staff have one less thing to worry about when they take a break from work. If the company holds a Pulse Travel policy, their employees receive 24/7 access to medical emergency assistance and coverage that includes pre-existing conditions— provisions that are often omitted in standard policies. Not just that, Pulse’s policies cover cancellation, curtailment and personal accidents during company trips and even extend to vacations taken by company directors.
CXO INSIGHTS
Risk And Insurance Management In The Shipping And Cruising Business
Rocco Bozzelli, Head of Global Insurance, MSC Cruises
Navigating Strategic Growth and Innovation in the Insurance Sector
Joe Steidl, Head of UK Insurance Distribution, Invesco
PALFINGER: Pioneering In Employee Benefits Insurance
Gregor Sterrer, Group Insurance Manager, PALFINGER AG
Driving Agile Transformations in Credit Insurance
Jose Luis Piedrola Nadal, ITS Director, Atradius
Risk Management: How Banca IFIS is Interpreting the GDPR in the Digital Era
Laura Quaroni, Head of Privacy & Security, DPO, Business Continuity Manager, Banca IFIS Group
IN FOCUS
Rethinking Client Engagement in Credit Insurance in Europe
Trade credit insurance is evolving from a transactional relationship to a partnership model, focusing on tailored solutions and proactive risk management to support businesses amid economic uncertainty.
Rethinking Credit Insurance for a Volatile Europe
European businesses are transforming trade credit insurance from a basic risk tool to a strategic solution, emphasizing transactional trust and proactive risk management amidst economic uncertainty.
EDITORIAL
Credit Insurance Evolving to Strengthen Business Resilience and Growth
Credit insurance once operated quietly in the background, safeguarding manufacturers and exporters. No longer. Today, it stands as a frontline instrument in European business resilience. Late payments and insolvency risks are surging across various sectors, and firms are seeking more than just simple indemnity. They demand intelligence, agility, and foresight. These insurers have shed their passive role to become strategic partners who navigate volatile markets alongside their clients. Digitalisation and geopolitical flux are transforming the sector at breakneck speed. Real-time risk assessment is replacing static coverage. AI powers the underwriting. APIs embed protection directly into enterprise systems. This structural shift isn't merely technological. Small businesses suddenly find doors opening. Policies adapt and evolve in response to market conditions. Decisions that once took weeks happen in hours. Trade wars, sanctions, and conflict have meanwhile shattered the old boundaries between political and commercial risk, compelling insurers to rebuild their entire policy architecture. What's emerging is a data-rich, strategically vital service that mirrors the full complexity of global commerce. Uncertainty has become the norm, and with it, the industry's relevance only deepens. The market tells its own story through projections of $12.084 billion by 2032, with a 2.1 percent CAGR. One thing is unmistakable. Credit insurance has travelled from the back office straight to the boardroom. This magazine features thought leadership articles from Marina Billinge-Jones, Group Insurance Manager at Severn Trent, and Yasmine Li, Head of EMEA Surveillance at Macquarie Group, who share insights on how claims management and integrated risk data are reshaping the future of insurance and compliance. We also highlight the firms transforming how businesses approach credit risk. One such firm, Gesellschaft für Kreditversicherungsservice (GfK), stands out as a trusted guide, crafting tailored credit insurance and factoring strategies that help businesses secure receivables and strengthen liquidity. In this edition, featuring leaders redefining credit insurance as a strategic lever for resilience and growth, we hope you find the right partner to meet your organisation’s needs.
