Madrid, 24th April, 2023. Atlax 360, a multinational company specialised in B2B credit risk and Munich Re, one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions acting through its corporate venture Talaria, launch the Flexible Credit Insurance Cover, a frictionless embedded trade credit insurance. This smart portfolio cover is a prime example for the potential of frictionless embedded trade credit insurance. The smart porfolio cover is embedded into Yndika – a platform for Order to Cash process optimisation with advanced risk management capabilities.
The Atlax 360 cloud platform, Yndika , contributes to management control and allows companies of any size to optimise their order-to-cash processes, providing efficiency and improving company performance.
The users of Yndika can now design a trade credit insurance solution based on their individual needs. This is possible without changing the user interface and with fully automated administration processes such as notifications or claims management and thus bureaucracy is considerably lower than with traditional trade credit insurance covers. The acquisition of the policy with a duration of 3, 6 or 12 months can be done with a few clicks. The real time risk assessment on a debtor but also on a single invoice level is available both for the customer as well as for the insurer. The result is professional risk management and a fair pricing according to the risk.
Talaria’s trade credit insurance solutions are integrated into the Yndika platform and are available for Spanish companies, small and medium sized companies as well as larger enterprises.
“The future of B2B payments lies in embedded finance. Smaller and mid-sized companies as well as larger enterprises increasingly ask for more user-friendly financial solutions that are ideally fully integrated into their existing software platforms. These software platforms might be B2B market places, ERP systems or order to cash solutions. Business to business customers are also retail customers and expect the same customer experience when acting as a company. Embedding trade credit insurance and financing into the most successful B2B software platforms both allows for more flexible and easy to use products as well as reduces the normally quite extensive manual administration burden to a minimum,” explains Andreas Moser, Head of Embedded Trade Finance Solutions at Munich Re.
“One of the main pillars of Atlax 360 is to offer personalised and competitively priced financial services to the European SME segment. In order to achieve this goal, digitalisation and automation are essential. Talaria is a key partner thanks to its high level of innovation and ability to support our fintech and insurtech solutions in a simple and flexible way. Our collaboration with Talaria stands out for its accessibility and ability to offer solutions in a simple and agile way, allowing us to adapt our products to the market and always with a personalised service,” emphasizes Santiago Martin, CEO at Atlax 360.
About Munich Re
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance- related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business.
Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to the 2019 Pacific typhoon season. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyberattacks. Munich Re is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.
Disclaimer Munich Re
This media release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of Munich Re. Munich Re assumes no liability to update these forward-looking statements or to make them conform to future events or developments.
About Atlax 360
Atlax 360 is a multinational company specialised in B2B credit risk. Our cloud platforms, Yndika and Triniom, enable companies of all sizes to optimise their order-to-cash processes, bringing management efficiency and accelerating business growth. The group has recently launched cutting-edge financial services available in just a few clicks: flexible credit insurance and non-recourse factoring. The uniqueness of both services lies in the advanced analytical capabilities of Atlax 360 and the use of machine learning techniques, which facilitate the immediacy of their contracting and the reduction of associated costs. Atlax 360’s mission is to contribute to economic and social development by promoting credit in a secure manner.
Disclaimer Atlax 360
The ATLAX 360 credit insurance service is provided by ESPISAN AGENCIA DE SUSCRIPCIÓN S.L., CIF B93742120 and number of Registro Administrativo de Distribuidores de Seguros y Reaseguros AS-0108, an agency of Great Lakes Insurance SE, a Munich Re company.