LiquidX says that Coface Singapore Branch has joined its LiquidX 360 digital platform, a marketplace for participants in the trade credit insurance market, including carriers, brokers, and policyholders.
According to a release, Coface Singapore is the first carrier in the region to join the platform since LiquidX was granted an insurance brokerage license from the Monetary Authority of Singapore (MAS) in June.
LiquidX says this is the first step in replicating its business model in the United States. The company reports that the majority of trade credit insurance carriers in the U.S., representing 80% of the market premium, are active on LiquidX 360 platform.
The LiquidX 360 platform digitizes trade insurance policies to automatically cross-reference policy terms and conditions and authenticate the eligibility of endorsed buyers.