Euler Hermes ACI (American Credit Indemnity)
www.eulerhermes.com/usa
3333 Warrenville Rd., Suite 160
Lisle , IL 60532
Contact: Andrea Farrell, Broker Relations
Phone: (630) 245-8100
FAX: (630) 245-8111
Andrea.farrell@eulerhermes.com
Percent of business in Illinois by line:
Commercial: 100%
Premium Volume: $8,000,000
Are you currently appointing new agents? We are actively pursuing and developing marketing partnerships with new agents. Since we are a specialty insurer (monoline carrier of business credit insurance), we do not require an independent agent or broker to have a contractual appointment in order to place business with us.
What type of agency is your company looking for? Dynamic agencies (with dedicated Commercial P & C producers) who are interested in pursuing opportunities to introduce new products and services to their customers in order to strengthen client ties, earn additional revenue and differentiate themselves from their competition. Target customers are manufacturers, distributors, wholesalers or service providers who sell to other businesses on open credit terms (either domestically or abroad). Fastest growing industries in Illinois include Metals, Lumbers, Plastics and Service Companies.
Are you currently doing any niche-marketing program? We exclusively offer a niche/specialty product. We currently have defined programs with specific market partners such as the National Association of Wholesalers & Distributors. Please see our website for further information.
What is your company’s most aggressive line of business? We are a monoline carrier of accounts receivable insurance, also referred to as trade credit insurance or business credit insurance. We protect against losses from insolvency and past dues both - ensuring payment on goods shipped or services rendered in 160 countries worldwide.
Do you use credit scoring? Exclusively write commercial businesses who sell to other business on open credit terms. Euler Hermes ACI maintain a proprietary risk database on over 40 million companies worldwide and utilizes a propriety risk rating system for buyers.
What methods do you use to distribute your insurance products? Distribution is through established network of direct agents, trade associations, banks and independent brokers.
What do you think makes your company different, or stand out from all the rest in Illinois ? Why would an agent want to contract with your company? For over 110 years, Euler Hermes ACI (a member of the Allianz Group) has been a services company first and an insurance company second - helping businesses to grow. Rated A by A.M. Best and A+ by Standard & Poors. Competitive advantages include: 1. Tailored products for broad range of businesses of all sizes. 2. close relationship with an industry-based expert with product flexiblity and substantial credit line capacity. 3. Our global risk management network (local underwriting offices) that spans 5 continents and 36 countries. 4. Proprietary risk database that continuously monitors over 40 million companies globally and 5. Leading edge online technology for policy management.
Please list your Marketing Representatives and the territory they cover:
Andrea Farrell, Assistant Vice President, Broker Relations, Central Region
Jim Furio, Vice President, Central Region
Team of sales professionals/agents in Illinois to assist you to build your knowledge of credit insurance and identify potential opportunities within your existing customer base.
Bill Dunne (630-577-8020, bill.dunne@eulerhermes.com)
Bob Francisco (630-577-8002, robert.francisco@eulerhermes.com)
Lee Fahrenz (630-577-8022, lee.fahrenz@eulerhermes.com)
Patrick Moan (630-577-8018, patrick.moan@eulerhermes.com)
Do you plan on retaining your current profit sharing agreements? Exclusively offer commission based compensation.
Do you offer the ability for agents to integrate third-party reports into their comparative rating process? No
Do you offer single-entry new business upload from either comparative raters and/or management systems? No
If yes, how many transactions do you process a month? We process over 12,000 credit line limit requests daily
Is it in development? No
Do you provide an agent facing website for your agent’s reference? Proprietary on-line policy management tool (EOLIS)
Do you offer the ability to quote and/or issue new business? No
Can your agents service in-force policies? Yes
Do you publish agent manuals and policy forms on-line? Yes (policy data, claims summary and marketing materials)
Do you have upload? No
Do you support direct bill commission statement download? No
Do you support real time service for inquiry? Yes
Claims? Yes
Billing? Yes
Do you have real time endorsement capabilities? No
Do you support either Transformation Station, Transact Now or other technologies? No
Is this technology available today? No
Please outline the top technology initiatives your company will be implementing to benefit agency workflows, and describe how these initiatives will benefit the agency.
Enabling customer/agent access to one of our proven risk management tools. We are working to offer our customers an alternative method to evaluate and qualify the credit-worthiness of discretionary buyers (limited "blanket" cover for buyers not specifically named in the policy). The planned risk rating offering will be available through our online system and will reduce the need for policyholders to qualify their buyers' credit through the use of mercantile agency reports, bank references, credit checks with other suppliers or other costly, labor-intensive processes.