Ecclesiastical has become the first UK insurer to be awarded the new Quality in Credit Management (QICM) accreditation from the Institute of Credit Management.
A range of factors were considered in the judging such as credit risk policy, customer services, and compliance, and Ecclesiastical achieved the required standard in all areas.
The award, launched in 2009, recognises “best practices” in credit management and has been presented to companies such as HSBC, Invoice Finance and Shell International.
Paul Brooker, Ecclesiastical’s group credit risk manager, said: “This is a fantastic achievement for the team as it demonstrates our pursuit of operational excellence to help deliver strong financial performance and customer service
“Embedding the credit risk policy required increased collaboration between Group Credit Risk Management and commercial areas. This has helped produce credit management results of which we all can be proud”.
The Chief Executive of the Institute of Credit Management, Philip King, will present Ecclesiastical with the award early next year. “QICM is now widely recognised as the benchmark for excellence,” he said, “and the Ecclesiastical team has set the standard for the insurance industry.”
