In the field of insurance, recovery is the amount recovered by an insurance company or by the person responsible for a damage or accident when an accident occurs and the responsibility does not lie with the insured. This amount is the one that the company has previously paid to its insured, that is, to the injured party in the accident.
There are three types of recovery: the recovery in which the entire compensation is covered; the mixed type recovery; and the claim for damages, in which the costs of the claim derive from a legal defense guarantee. The type of recovery applied to each claim will depend on the conclusions of the expert opinion.
Associate underwriters of ABK Credit are involved in the financial recovery, since the recovery strategy designed by you -who have a good knowledge of your client and the sector- is much more efficient than the one that can be offered by a credit insurer. In this sense, we combine external and internal forces in order to maximize recovery.
In case of needing external financial collection, ABK Credit has an associated recovery company ELSECREDIT, which assists in the management of unpaid debts in combination with insurers. This differential fact allows greater flexibility in the management of defaulters, which entails a higher rate of recovery of defaulters than if the default is managed by the insurer alone.
In reducing the cost of unpaid, improving debt collection is key, and the effort made by ABK in developing collection is unique in Southern Europe, with more than 35 professionals dedicated to this task.
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