EximBank starts selling insurance policies on line

Bucharest, February 1 st 2012 – EximBank implemented on its website – www.eximbank.ro– a new platform for selling insurance policies and commercial information reports online aiming at facilitate the access for companies to products that help reducing business risks.

”The continuously increasing appetite for new information technologies determined EximBank to consider embracing these trends in order to better accommodate its partners’ needs. As we continue to witness international turmoil, the quick access to economic information regarding the local or international business partners as well as to products that can protect companies against profit losses, especially in international contracts, becomes more and more critical. Through the changes that we are implementing now, we are trying to facilitate the access to this kind of information”, declared Oana Nuta, EximBank spoke person.

The new on line sales platform allows:
– Access to the necessary documents related to insurance and commerical information products;
– Usage of on line calculator to determine preliminary insurance premiums;
– On line requests for specific products;
– Access to countries ranking as per business risks (drafted by Organization for Economic Cooperation and Development – OECD);
– On line payment for insurance premiums.

EximBank covers commercial and political risks that may occur during international commerical transactions of Romanian companies, offering them the confort of recovering their liabilities.

Thus, the Bank is offering to exporting companies the Insurance policy for foreign non payments for nonmarket risks (that offers the safety of cashing 85% of the total export value) or Insurance of the exchange rate that protects the export cashing against unfavorable variations of the exchange rate.

Also, the companies that are interested in investing abroad can benefit from the Insurance policy of Romanian capital investment abroad that covers the recovery of up to 90% of the investment project value.

To these we can add theInsurance policy for buyer credits that covers the risks of non-payment of credit granted by commercial banks to importers that have to pay goods or services bought on Romanian market, as well as Insurance policy for export credits on medium and long term – covering the recovery of up to 85% of losses derived from export contracts concluded by Romanian companies with foreign partners on medium and long term.

As long as the Credit and commercial information about business partners is concerned, companies accessing this product receive a report on a potential business partner that covers:
– Identification data – address, registration number of the Trade Registry, Unique Identification Code, history, actual business status, management, employees, subscribed capital.
– Financial data publicly reported: main balance sheet positions, profit and loss account, financial diagnosis of the company based on financial reporting: payment capacity and behaviour, financial power, turnover evolution, economic results and positioning in risks classes as per the risk level associated to the business activity.
– Recommendations regarding the safety level up to which the company can conclude commercial transactions using credits.

Commercial companies buying information reports based on subscription (comprising 25 to 60 reports) receive as bonus risk analysis for 76 countries.

EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absorption of EU funds.