Allianz Trade, a division of Allianz specialising in trade credit insurance, has tied up with TreviPay, a B2B payments and invoicing network.

This collaboration will integrate Allianz Trade's credit insurance into TreviPay's suite of trade credit and invoicing solutions, providing businesses across the world with enhanced risk management and funding capabilities.

Trade credit insurance is a B2B product that covers the non-payment risks of trade receivables and is triggered when a customer is unable to make payment as per the terms of the contract.

The partnership is set to benefit small to medium-sized businesses by leveraging trade credit insurance to secure transactions and support growth, despite potential limitations such as insufficient credit history.

Additionally, it will aid companies in adapting to direct-to-consumer models and managing risks associated with transacting beyond the traditional distribution channels.

Allianz Trade's expertise in underwriting diverse buyers complements TreviPay's automated B2B payment technologies.

Recent research from TreviPay indicates that 72% of business buyers show greater loyalty to vendors that offer preferred payment methods such as trade credit.

However, offering trade credit can be challenging for many businesses due to cash flow concerns and the risk of increased days sales outstanding.

The partnership with Allianz Trade allows TreviPay to enhance its funding options, providing trade credit insurance tailored to specific client risks.

With the alliance, TreviPay clients are expected to improve their order-to-cash processes.

Furthermore, Allianz Trade gains a referral partner for its trade credit insurance clients in need of advanced accounts receivable automation technology.

Allianz Trade global head of group transformation Francois Burtin said: “By combining our expertise in risk management with TreviPay's technological capabilities, we are setting new standards in business payments.

“This partnership allows us to support more businesses in achieving their strategic goals with enhanced security and efficiency.”

TreviPay CEO Brandon Spear said: “A strong alignment in innovative financial solutions and customer commitment makes this partnership with Allianz Trade a natural fit.

“The option to integrate trade credit insurance into our offerings ensures that our clients can transact with greater confidence and flexibility, driving business growth and customer loyalty.”

This year, in April, Allianz Trade introduced its next-generation trade credit insurance product in the UK and Ireland.