What is Credit Insurance

Credit Insurance provides protection for the repayment of loans made by financial institutions or traders, following the borrower insolvency or payment default.
This type of scheme usually applies to personal loans or loans granted in order to buy houses, cars, domestic appliances, furniture etc...
Credit Insurance can also provide protection to the wholesaler granting credit facilities to retailers or distributors.

Importance of Credit Insurance and advantages to the lending institution

Credit Insurance provides tranquility to the Insured, in a manner that he can rest assured that any payment default from the part of his customers, will be dealt in a proper way guarantying a reimbursement of the debt. The Insured also saves money and time while dealing with unpaid bills; he does not have to worry about legal and practical aspects related to recoveries, seizures etc..,

Membership

Credit Insurance, related to specific plans or programs is subject to compulsory membership for all eligible borrowers.

Cover

Lenders generally maintain regular records of loans and are able to produce accurate data very easily when computerized.

Cover is digressive, meaning that the amount insured is the remaining unpaid value of the credit, which decreases monthly.

Down-payment

All credits are submitted to a minimum 20% down-payment meaning that the maximum cover is equal to 80% of the material sold.

Additional cover

Credit Insurance is always accompanied by a credit life cover and sometimes by another policy covering the material damage to the goods object of the transaction.

Procedures

All loans are to be submitted to the Insurer for approval. If a transaction is not submitted or is rejected it is deemed not covered.

Cost of scheme

The Credit Insurance schemes, plans, and programs are really costless to the lender as all premiums are indirectly paid up in advance by the borrower.

Costing

The cost is expressed in one single rate applied once, in advance, on the total value of each and every loan.

Different products such as used car loans, small business loans, consumer loans, etc…

In house data base and close cooperation with commercial investigations firms.

In house developed system adapted to local social and financial factors.

Companies, retailers and small businesses who want to focus on their core business have understood the relevance of externalizing the management of their unpaid bills or bad debts. CS&T combines today a unique know-how regarding Debt collection and logistics facilities to offer a wide and tailored range of high value services to our customers :

CS&T SERVICES :

A unique know-how in commercial management regarding negotiation with debtors.

  • Highly Accurate written, phone or physical communication tools.
  • A high degree of tailored solutions according to the nature and type of debt.
  • A secured and private access to your customers portfolio on a monthly basis.
  • An efficient performant in house software.
  • A call center working on a 6 days basis, from 9 AM to 20 PM.

 

CONCILIATORY COLLECTION :

I-REACTIVITY :

  • A complete expert appraisement as far as collection is concerned :
  • A trained and dedicated team to your bad debts.
  • A personalized range of actions in collection.
  • The best solutions tailored to the typology of your debts.
  • An immediate management of your files.

II-EFFICIENCY :

  • An individual and constant follow-up of your files:
  • A collection action ranging from written mail, phone actions to physical collection at home or work.
  • Calendars tailored to every case of bad debt.
  • Collection rates and terms of payment improved significantly .

III-QUALITY :

  • An efficient and firm action in collection.
  • Combining ethics and commercial action.
  • Respect of your brand image.
  • Respect of human values.
  • A complete and constant commitment of CS&T teams to fulfill your commercial and cash flow targets.

Legal Collection :

  • The Strength of a national network of experts
  • The best price
  • The support of our teams in a relevant legal action

CS&T provides you with advise regarding the opportunity of choosing the right procedure and its implementation.
CS&T has an outstanding of over 10 years experience in credit insurance and collection management and a unique network of lawyers and legal partners to find out the right solution at the best price.

Minimizing losses:

CS&T allows a reconciliation of debts already classified as losses or under an existing collection procedure, including a systematic research of “Back to fortune” cases among the debtors concerned. 
CS&T can, also, take over files regarded as dead losses, after an accurate analysis on your debtors to know their current repayment
capacity.

Daily monitoring and follow-Up of ongoing debts.

Door to door collection.

Ongoing risks, O/S balances, ratios.

Comments and Solutions.

Analysis of claims arising from disputes related to credit insurance

Small businesses.

Personalized service and advice: all lines of insurance.

The concept behind Credit Systems & Techniques is to allow a natural access to competence in the credit insurance field, as no insurance company would be in a position to afford the very high running costs individually, nor to collect the necessary data under one single data base and generate enough business for it to become an attractive business proposition. Credit Systems & Techniques, is now in a unique position to tackle such an opportunity all over the Middle Eastern markets. Credit Systems & Techniques provides practical and proven solutions to enhancing and promoting commercial and consumer credit through: Allowing the betterment of credit terms and conditions By reducing the credit risk through securitization Backed by international specialized credit reinsurers; Credit Systems & Techniques is not only in a position to bring genuine credit solutions securitization and quality but also: Engineering and designing of credit products through its specialized company Byoutna. Credit worthiness and data analysis Evaluation tools Debts monitoring Bad debts recoveries Credit Systems & Techniques offers insurance companies: Equal access to underwriting and technical expertise in the credit insurance field; A sophisticated data base and; Reinsurance along with; The confidentiality and the reliability of an independent organization, familiar with doing business in this part of the World. Credit Systems & Techniques aim is not only to administrate Credit Insurance, but also to engineer Credit plans (through one of its specialized sister company) adapted to the local market needs.

The concept behind Credit Systems & Techniques is to allow a natural access to competence in the credit insurance field, as no insurance company would be in a position to afford the very high running costs individually, nor to collect the necessary data under one single data base and generate enough business for it to become an attractive business proposition. Credit Systems & Techniques, is now in a unique position to tackle such an opportunity all over the Middle Eastern markets. Credit Systems & Techniques provides practical and proven solutions to enhancing and promoting commercial and consumer credit through: Allowing the betterment of credit terms and conditions By reducing the credit risk through securitization Backed by international specialized credit reinsurers; Credit Systems & Techniques is not only in a position to bring genuine credit solutions securitization and quality but also: Engineering and designing of credit products through its specialized company Byoutna. Credit worthiness and data analysis Evaluation tools Debts monitoring Bad debts recoveries Credit Systems & Techniques offers insurance companies: Equal access to underwriting and technical expertise in the credit insurance field; A sophisticated data base and; Reinsurance along with; The confidentiality and the reliability of an independent organization, familiar with doing business in this part of the World. Credit Systems & Techniques aim is not only to administrate Credit Insurance, but also to engineer Credit plans (through one of its specialized sister company) adapted to the local market needs.

  • The sole consumer credit insurance TPA’s in the MENA region.
  • Professional expertise in the management of credit.
  • Large data base with credit history.
  • Several lawyers engaged for recoveries.
  • Long term reliable relationship with investigation companies.
  • Long term reliable relationship with Insurance Companies and Reinsurers.
  • Most Reinsurers dealing with Consumer Credit Insurance require that CS&T be the credit administrator.
  • Acts as an efficient go – between among involved parties.
  • Acts as the true and effective back office to the Insurance and the Insured.
  • Creation and implementation of merchants networks.
  • Sales Force covering all areas across countries of operation.
  • Best advices in different fields of general insurances.

The following departments constitute the core of CST Backbone, the CST team consists of highly trained individuals with experience in the credit field and familiar with the local market conditions; all of them having worked insurance or banking sectors with a successful track record.

  • Production and selection department
  • Credit investigation and credit risk evaluation
  • Monitoring, Follow-Up and Claims Recovery Department
  • Direct relation with insured’s customers with payment delays or payment defaults.
  • Claims Processing Department
  • Claim’s evaluation and process for acceptance or decline.
  • Legal Department

The department role mainly consists in transmitting claimed files when necessary to various specialized lawyers. This department also controls on a monthly basis legal pursuits engaged against claimed defaulters.

  • Reinsurance and Statistics Department

The department is in charge of preparing the quarterly reinsurance bordereaux together with general statistics to insurance companies and reinsures.

  • IT Department

Hardware, software and network maintenance. Assist in the programming of the new web CST specially customized software.

  • Accounting Department

Supervises accounts for all companies in the group.

  • Quality Control Departments

This department is in charge of verifying if all incoming and outgoing operations are in conformity with quality norms defined by CST guidelines.

  • Regional Division

This department coordinates all reinsurance matters centralized in Beirut. The regional divisions also make sure that production, follow up and claims resolution are in conformity with CST guide lines, This department is also in charge for regional development

  • Public Relations

This department caters for all companies customer relations.

  • The sole consumer credit insurance TPA’s in the MENA region.
  • Professional expertise in the management of credit.
  • Large data base with credit history.
  • Several lawyers engaged for recoveries.
  • Long term reliable relationship with investigation companies.
  • Long term reliable relationship with Insurance Companies and Reinsurers.
  • Most Reinsurers dealing with Consumer Credit Insurance require that CS&T be the credit administrator.
  • Acts as an efficient go – between among involved parties.
  • Acts as the true and effective back office to the Insurance and the Insured.
  • Creation and implementation of merchants networks.
  • Sales Force covering all areas across countries of operation.
  • Best advices in different fields of general insurances.

The following departments constitute the core of CST Backbone, the CST team consists of highly trained individuals with experience in the credit field and familiar with the local market conditions; all of them having worked insurance or banking sectors with a successful track record.

  • Production and selection department
  • Credit investigation and credit risk evaluation
  • Monitoring, Follow-Up and Claims Recovery Department
  • Direct relation with insured’s customers with payment delays or payment defaults.
  • Claims Processing Department
  • Claim’s evaluation and process for acceptance or decline.
  • Legal Department

The department role mainly consists in transmitting claimed files when necessary to various specialized lawyers. This department also controls on a monthly basis legal pursuits engaged against claimed defaulters.

  • Reinsurance and Statistics Department

The department is in charge of preparing the quarterly reinsurance bordereaux together with general statistics to insurance companies and reinsures.

  • IT Department

Hardware, software and network maintenance. Assist in the programming of the new web CST specially customized software.

  • Accounting Department

Supervises accounts for all companies in the group.

  • Quality Control Departments

This department is in charge of verifying if all incoming and outgoing operations are in conformity with quality norms defined by CST guidelines.

  • Regional Division

This department coordinates all reinsurance matters centralized in Beirut. The regional divisions also make sure that production, follow up and claims resolution are in conformity with CST guide lines, This department is also in charge for regional development

  • Public Relations

This department caters for all companies customer relations.

  • The sole consumer credit insurance TPA’s in the MENA region.
  • Professional expertise in the management of credit.
  • Large data base with credit history.
  • Several lawyers engaged for recoveries.
  • Long term reliable relationship with investigation companies.
  • Long term reliable relationship with Insurance Companies and Reinsurers.
  • Most Reinsurers dealing with Consumer Credit Insurance require that CS&T be the credit administrator.
  • Acts as an efficient go – between among involved parties.
  • Acts as the true and effective back office to the Insurance and the Insured.
  • Creation and implementation of merchants networks.
  • Sales Force covering all areas across countries of operation.
  • Best advices in different fields of general insurances.

The following departments constitute the core of CST Backbone, the CST team consists of highly trained individuals with experience in the credit field and familiar with the local market conditions; all of them having worked insurance or banking sectors with a successful track record.

  • Production and selection department
  • Credit investigation and credit risk evaluation
  • Monitoring, Follow-Up and Claims Recovery Department
  • Direct relation with insured’s customers with payment delays or payment defaults.
  • Claims Processing Department
  • Claim’s evaluation and process for acceptance or decline.
  • Legal Department

The department role mainly consists in transmitting claimed files when necessary to various specialized lawyers. This department also controls on a monthly basis legal pursuits engaged against claimed defaulters.

  • Reinsurance and Statistics Department

The department is in charge of preparing the quarterly reinsurance bordereaux together with general statistics to insurance companies and reinsures.

  • IT Department

Hardware, software and network maintenance. Assist in the programming of the new web CST specially customized software.

  • Accounting Department

Supervises accounts for all companies in the group.

  • Quality Control Departments

This department is in charge of verifying if all incoming and outgoing operations are in conformity with quality norms defined by CST guidelines.

  • Regional Division

This department coordinates all reinsurance matters centralized in Beirut. The regional divisions also make sure that production, follow up and claims resolution are in conformity with CST guide lines, This department is also in charge for regional development

  • Public Relations

This department caters for all companies customer relations.

  • The sole consumer credit insurance TPA’s in the MENA region.
  • Professional expertise in the management of credit.
  • Large data base with credit history.
  • Several lawyers engaged for recoveries.
  • Long term reliable relationship with investigation companies.
  • Long term reliable relationship with Insurance Companies and Reinsurers.
  • Most Reinsurers dealing with Consumer Credit Insurance require that CS&T be the credit administrator.
  • Acts as an efficient go – between among involved parties.
  • Acts as the true and effective back office to the Insurance and the Insured.
  • Creation and implementation of merchants networks.
  • Sales Force covering all areas across countries of operation.
  • Best advices in different fields of general insurances.