Insurtech start-up Nimbla has partnered with Munich Re’s new business unit Digital Partners to provide complete credit management for SMEs (small- and medium-sized enterprises).
The announcement cited a £5.8 billion bad debt write-off among SMEs in the UK in the last financial year. Aimed at addressing the issue, Nimbla’s platform will offer intelligent credit control and ondemand single invoice insurance utilising cloud accounting and Digital Partners-agreed upon underwriting rules.
“We are delighted to be working with Munich Re Digital Partners,” said Nimbla chief executive Flemming Bengtsen. “They are incredibly progressive in their approach and have so much experience that we can benefit from.”
Bengtsen added: “Munich Re understands that the landscape for commercial lines is changing, especially for SMEs.”
Yannis Korgialos, head of European partners & products at Digital Partners, said the new Munich Re business unit was designed to partner with digital disruptors who are changing the way insurance is experienced by customers.
“We are looking forward to working closely with Nimbla to enable them to offer a customised insurance proposition to the SME sector aligned with their customers’ needs,” commented Korgialos.
An appointed representative of Ambant Underwriting Services, Nimbla provides single invoice insurance underwritten by Great Lakes Insurance SE.
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