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Who We Are
CST was established in 1997 By Mr. Andre Anhoury ( 1955-2018) , with the aim of providing credit reinsurance support,, coupled with professional expertise in the management of such credit granted by banks and financial organizations. CST also manages all kind of consumer loans, beginning with selection and ending with bad debts recoveries.
Credit insurance allows a true and real “TRANSFER OF RISK” allowing the bank to rest safe in case of payment default. Hence the effective risk is in fact borne by the insurance company. CST acts as a perfect go-between between the bank, the insurance company, the participating merchants and finally the consumer or end-user. CST acts as the back-office for parties involved in such financing schemes: The bank, the insurance company, the trader, etc… Within our system, the credit operation is followed since the time the credit application is filled by the consumer and up to the time when the latter has totally reimbursed his loan.CST makes the necessary inquires and evaluates the credit risk (credit scoring), it also takes in charge the daily follow-up of payment delays, and eventually the claim process and recovery in case of payment default
Full credit management third party administrator functions and Credit investigation.
- Credit scoring
- Debts monitoring and follow-up
- Monthly promissory notes collection
- Bad debts recoveries
- Full range of statistics
- Statistics analysis
- Credit insurance loss adjusters
What is Credit Insurance ?
Credit Insurance provides protection for the repayment of loans made by financial institutions or traders, following the borrower insolvency or payment default. This type of scheme usually applies to personal loans or loans granted in order to buy houses, cars, domestic appliances, furniture etc… Credit Insurance can also provide protection to the wholesaler granting credit facilities to retailers or distributors.
Importance of Credit Insurance and advantages to the lending institution Credit Insurance provides tranquility to the Insured, in a manner that he can rest assured that any payment default from the part of his customers, will be dealt in a proper way guarantying a reimbursement of the debt. The Insured also saves money and time while dealing with unpaid bills; he does not have to worry about legal and practical aspects related to recoveries, seizures etc..,
What is trade credit insurance ?
Trade credit insurance provides protection of accounts receivable (sales to buyers on credit) from losses due to credit risks, such as default, insolvency and bankruptcy.
Trade credit insurance is offered to business entities wishing to protect their accounts receivable (sales to buyers on credit) from losses due to credit risks, such as default, insolvency and bankruptcy. The buyers can be in the same country of the insured business (domestic) or in another country (export).
The concept behind CST is to allow a natural access to competence in the credit insurance field, as no insurance company would be in a position to afford the very high running costs individually, nor to collect the necessary data under one single data base and generate enough business for it to become an attractive business proposition.
CST, is now in a unique position to tackle such an opportunity all over the Middle Eastern markets.
CST provides practical and proven solutions to enhancing and promoting commercial and consumer credit through:
- Allowing the betterment of credit terms and conditions
- By reducing the credit risk through credit insurance
Backed by international specialized credit reinsurers; CST is not only in a position to bring genuine credit solutions, credit insurance cover and quality but also:
- Engineer and design credit products.
- Data analysis and credit worthiness.
- Use sophisticated evaluation tools
- Monitor debts on a regular basis.
- Recover non performing debts.
CST offers insurance companies:
- Equal access to underwriting and technical expertise in the credit insurance field;
- A sophisticated data base and;
- Reinsurance along with;
- The confidentiality and the reliability of an independent organization, familiar with doing business in this part of the World.
CST aim is not only to administrate Credit Insurance, but also to engineer Credit plans (through one of its specialized companies) adapted to the local market needs.
CST role, is to create and administrate Credit plans for the participant insurers and also to join forces with those same insurers and their customers, in order to come out with new credit concepts, adapted to the local social factors, easily understandable and acceptable to the majority of consumers and traders. All plans and programs will be framed, so as to include the maximum guarantees, in order to secure regular payments and easy recovery in case of claim.
CST task is to secure the insured (financier, trader, merchant …) while preserving the reinsurer and the insurance company’s interest. Our goal is reached through a strict application of CST underwriting guidelines coupled with a strict individual selection of credit applicants, a serious control and an efficient daily follow-up.
The risk management concept in credit insurance being totally different, from any other insurance line; it is our deep belief and previous experience have proved the rightness of our view, that a credit management company represents the best tool to deal with credit insurance.
Entering foreign markets must in our opinion be done through the establishment of a local credit insurance management company (third party administrator). This company will be created as a joint venture between CST and local partners in each and every targeted market.
The newly formed local management company will be using CST software, underwriting guidelines, claims resolution guidelines and all related data base and programs. Furthermore special credit schemes adapted to the local market could be offered to the insured and implemented.
Furthermore, and in order to ease the implementation of credit insurance in the different countries of operation, we believe a specialized insurance consultancy and brokerage firm would be the useful tool to approach in the name of the insurance companies the banking sector, offering professional advices and consultancy. Finally, we would like to emphasize on the wide possibilities brought up by such a gathering (CST, and local insurance companies) in the development of professionally managed and secured credit insurance and also the very high profitability one can expect from such an approach when dealing with credit insurance
- The sole consumer credit insurance TPA’s in the MENA region
- Professional expertise in the management of credit
- Large data base with credit history
- Several lawyers engaged for recoveries
- Long term reliable relationship with investigation companies
- Long term reliable relationship with Insurance Companies and Reinsurers
- Most Reinsurers dealing with Consumer Credit Insurance require that CS&T be the credit administrator
- Acts as an efficient go – between among involved parties
- Acts as the true and effective back office to the Insurance and the Insured
- Creation and implementation of merchants networks
- Sales Force covering all areas across countries of operation
- Best advices in different fields of general insurances
Lebanon got out of his catastrophic war in the early nineties of the past century. With peace installed and the need to develop its war torn economy, the country badly needed new incentives allowing the banks to ease credit facilities.
From there, the idea of implementing credit insurance grew-up. The founder of CST group of companies, further to a long experience in the banking and insurance sectors in Canada and the U.A.E., came out with his project being the creation of “retail credit insurance third party administration” catering to insurance companies willing to do business in the retail and trade credit insurance field.
CST for Loans
Installments & Insurance Lebanon
The first step in the implementation of this new product was to secure the support of first class international reinsurers, bearing part of the risk borne by the participating insurance companies.