FGI Risk Services Achieves Continued Growth in Q4 of 2010
NEW YORK, January 25, 2011 – FGI Risk Services (www.fgirisk.com), the leader in optimizing organizations’ credit insurance programs, announced a 237% growth in its trade credit insurance brokerage business for the fourth quarter of 2010, adding over 47 customers worldwide. The company attributed this significant growth to both the continued increase in demand and success of its T.R.U.S.T. platform as well as increased demand in the US for Trade Credit Insurance products. The T.R.U.S.T. platform optimizes credit insurance programs for organizations leveraging credit insurance worldwide.
Fred Voccola, President of FGI Risk Services stated, “Our positive Q4 results are a direct by-product of the US becoming more aware of the benefits of Trade Credit Insurance. Demand for this product is on the rise as organizations recognize the need to protect what is frequently their largest balance sheet asset; their account receivables. Companies who have credit insurance are recognizing the need for automation of the management of their credit insurance policies in order to receive these products’ full value. FGI Risk’s continued growth and demand is a result of the FGI T.R.U.S.T. platform and its ability to automate and optimize the value of our clients’ credit insurance policies.”
Marshall Pittle, Assistant Credit Manager for FreshPoint agrees, “In the time frame we’ve been using the T.R.U.S.T. platform, we’ve realized significant benefits. The transition to the T.R.U.S.T. technology was seamless and required no integration to our systems, thus we were able to increase required coverage by over 50% while improving our policy structure by almost 20%! Leveraging the T.R.U.S.T. platform enables FreshPoint to continually monitor our coverage goals and automatically remediate coverage gaps.”
FGI T.R.U.S.T. is currently optimizing credit insurance programs for hundreds of organizations worldwide, enabling them to maximize the value and protection of their credit insurance policies.
About FGI Risk Services
FGI Risk Services is a member of the FGI family of companies and specializes in providing businesses with critical risk mitigation solutions. The parent company, FGI, is a leading global conglomerate of financial services firms providing a wide array of commercial finance, risk mitigation, consulting, trade and transactional products and services to firms around the world. To learn more about FGI Risk Services, please visit our website at www.fgirisk.com.
About Fresh Point
FreshPoint is North America’s leading and most respected fresh produce distributor. They currently have 31 distribution locations and growing across North America. They are owned by SYSCO, a Fortune 100 company and North America’s leading and most respected foodservice distributor. To learn more visit their website at www.freshpoint.com.