2nd August 2021 – LiquidX, the global fintech solutions provider for working capital, trade finance, and insurance, today announced that Coface Singapore Branch has joined its LiquidX 360 digital platform. The state-of-the-art tech platform offers enhanced operational efficiency and transparency for all participants in the trade credit insurance market, including carriers, brokers, and policyholders.
Coface Singapore is the first carrier in the region to join the platform since LiquidX was granted an insurance brokerage license from the Monetary Authority of Singapore in June 2021. This move marks the first step for LiquidX in replicating its successful business model in the United States. The majority of trade credit insurance carriers in the U.S., representing 80% of market premium, are active on LiquidX 360 platform. Todd Lynady, Global Head of Insurance at LiquidX, added, “Trade Credit Insurance is in great demand and highly valued by companies in Asia Pacific. We are very happy to welcome Coface Singapore as the first insurance carrier to join the platform in the region.”
“There’s no doubt that digital technology presents new opportunities for our industry and we are delighted to join the LiquidX platform,” said Graham Crozier, Country Manager of Coface Singapore. “We are ‘for trade,’ meaning we’re committed to adapt to where our services are needed most in support of effective local, regional and global trade.”
The LiquidX 360 platform digitizes trade insurance policies to automatically cross-reference policy terms and conditions and authenticate the eligibility of endorsed buyers. It provides unparalleled insight and transparency into a policy, or portfolio of policies, while providing the tools to manage all components of insured transactions in one centralized platform, regardless of geography, product, or broker.
“Coface is an established leader in Trade Credit Insurance and one of the first carriers to invest in the digital transformation of our industry, so it’s no surprise they are at the forefront of innovation in this space,” said Alex Bursak, Regional Head of Insurance Asia Pacific at LiquidX. “We look forward to working with the Coface Singapore team to deliver best in class solutions for banks, corporates, and asset managers to mitigate their trade credit risk across this growth region.”
