The collaboration also allows sellers to make quicker, more informed credit decisions. Credit: Andrey_Popov/shutterstock.com.

Nuvo, a B2B trade credit technology platform, and Allianz Trade in North America have partnered to enhance trade credit insurance policy management for customers.

Allianz Trade is the trade credit insurance unit of Allianz Group.

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Nuvo’s credit technology platform, which is designed to simplify customer onboarding, credit risk assessment and fraud prevention, will now administer key elements of Allianz Trade’s trade credit insurance policies.  

This integration allows Allianz Trade customers using Nuvo to add coverage, monitor approval policy adherence, and ensure their sales strategies align with customer risk and insurance coverage.

Allianz Trade Americas transformation and digital partnerships regional head Aaron Lindstrom said: “It is more critical than ever that businesses mitigate the risk in their business relationships.

“Integrating with Nuvo will enable our shared customers to manage their policies more simply, and to protect their operations from unforeseen risk events.”

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The alliance between Nuvo and Allianz Trade combines the latter’s insurance underwriting expertise with Nuvo’s workflow technology. This allows sellers to make quicker and more informed credit decisions.

Nuvo co-founder and CEO Sid Malladi said: “Allianz Trade’s leading trade credit insurance offering complements Nuvo in our mission to give finance teams the confidence needed to grant the credit that fuels their business growth.”

Finance teams utilising Nuvo can now incorporate their Allianz Trade policy into credit term decisions, fostering new business opportunities and minimising undue risk.

Last year, Allianz Trade agreed to buy a 50% stake in Portuguese company Cosec from Portugal’s Banco BPI. The deal will offer Allianz Trade sole ownership of Cosec.