Aon plans to create marketplace for syndicated trade credit insurance

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Re/insurance broker  Aon has entered into a strategic partnership with Hamburg-based fintech platform Walbing.

The aim of the partnership is to operate a syndicated trade credit insurance offering via the Walbing platform.

Under the agreement, customers who want to insure a transaction with trade credit insurance will receive a quote for the potential insurance coverage directly and in real-time via the new marketplace. The respective contract will be concluded via One Underwriting Agency GmbH (an Aon group company) as managing general agent.

"In the midst of the Corona pandemic, more and more insurers have withdrawn from trade credit insurance or significantly reduced their credit lines. Together with Aon, we want to use a digital syndication process to ensure that trade credit insurance no longer becomes a bottleneck for international supply chains," explained Jörg Hörster, founder and CEO of Walbing.

Kai Engelsberg, member of the executive board credit solutions at Aon added: "We are convinced that customers and insurers alike will benefit from building a digital solution for syndicated trade credit insurance. With Walbing, we have exactly the right partner with the corresponding expertise in setting up transparent, automated processes on our side.

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