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Greetings!
For the past few weeks, everyone has been glued to a TV (or laptop, tablet, or smartphone!), watching the best athletes in the world compete for the ultimate reward for their efforts - "The Gold". We are amazed at their strength, speed, grace, determination, and physical abilities. Just making it to the 2012 Olympics is a major accomplishment in itself, but each athlete wants to be recognized as the "Best of the Best" by winning "The Gold".
One Source has been recognized by the industry as being the fastest growing specialty insurance broker. We partner worldwide with the major insurance carriers and financial institutions, The world's largest credit insurance carrier says we're their #1 specialty broker in the USA. Like the London Olympians, our goal is to be the "Best of the Best". We continue to enhance our suite of products, tools, and services to provide you the most valuable risk solutions and information. This issue highlights some of the many activities that are underway as we continue to "Go for the Gold". We hope you enjoy reading it!
Best Regards, 
THAN
Monica Brown
Editor, One Source eNews
monica@onesourcerm.com
281-566-3307 (p)
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"How Are We Doing?" - You Answered, We Listened
Earlier this year, we sent out a very short survey to our current clients. As promised, here is a summary of the responses. If you didn't get a chance to respond, or are new to our client family, it's not too late - we want your input! Click on the link to complete the survey (it's quick - less than 5 minutes) and submit your responses:
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What You Said: 100% of the respondents are utilizing credit insurance, with 26% also using at least one other product or service (ex. excess, political risk, or export insurance; factoring, collections, international credit reports, etc.). The products have proven VALUABLE to 94% of the respondents. All of the surveyed attributes (customer service, professionalism, quality of products/services, and understanding customers' needs) received at least a 91% WELL ABOVE-->ABOVE AVERAGE rating, with none rated BELOW AVERAGE. Our service team's communications (response time, accuracy, and effectiveness) received an average 73% EXCELLENT and 27% GOOD (across the 3 attributes). Of the respondents that have visited our website, 95% rated the website as GOOD-->EXCELLENT. To those of you that took the time to write additional comments - thank you! Your feedback on specific team members is greatly appreciated and was shared with them. Highlights of some of the comments are in the "Client Testimonials" sidebar (on the right).
What We're Doing: When analyzing the results, our management team wasn't just looking at the kudos (although they were very nice to read!), but wanted to focus on areas where we can get better. To improve our service team's communications, we are enhancing our internal tools and processes to provide better information, quicker response time, and efficient yet effective support. We added additional team members and restructured our service teams to better support our clients and additional service offerings. Our website has been further improved, and we need to do a better job of pointing you to the website for the valuable info and tools that are there. We think we are on the right path........as we continue to "Go for the Gold"!
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Our Recent and Future Growth
We're Growing Inside and Out!
Inside Growth: We're experiencing a banner year in 2012. As of July, our client family has grown over 13%, as compared to the same time period last year. Equally as important as new clients, we had a 17% increase in policy renewals. "Repeat customers" show us that our products and services are providing value. We are doing it right! To better support our client growth and service offerings, our team also grew with the addition of two new Vice Presidents and two new Client Account Specialists (CASs). We also rewarded two of our top CASs with promotions to Service Manager for our Maine and Texas offices. We've grown and have a bigger and more knowledgeable team to successfully support our current clients' needs as well as our future growth.
International Growth: One Source continues to expand our global footprint with three new initiatives:
1) the launch of One Source Risk Management Canada Inc. 2) our recently finalized International Alliance 3) our US West Coast Office
One Source Risk Management Canada Inc. (OS Canada) was finalized on April 1, 2012. Headed by Nicola (Nick) DiNardo, OS Canada is currently servicing clients in Quebec and Nova Scotia, with plans for quick expansion to 3 additional provinces (and ultimately all of Canada). Nick has over 20 years experience in the credit services industry. Nick's contact info can be found on our website broker map (click OS Broker Map, then click on the Canadian flag).
For the past year, we have been hard at work creating our newly formed Global Network/Alliance of Specialist Brokers. This global group will give One Source representation in numerous countries and the ability to service clients locally worldwide. It will also give us the ability to assist in gathering financial data and other informational needs in local language and currencies.
Our US West Coast Office will provide additional staff to address the needs of our growing West Coast client base.
These three initiatives, as well as the growth of our One Source team demonstrate One Source's focus on continued expansion of our services to current and future clients, and the necessary investments to ensure success. Look for announcements with more details soon!
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One Source On the Road
Look for Us At These Upcoming Events!
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We know that the most effective way to learn our clients' unique business needs for their specific industry is though face-to-face interaction. Through regular client visits and participation in credit and industry-specific seminars, meetings, and conferences, we are able to share information on how credit insurance may benefit your particular industry. One Source invests heavily in educational groups, and has recently increased its corporate sponsorship to many. Look for us at these upcoming 2012 industry events:
International Energy Credit Association (IECA). The IECA 88th Annual Conference is Oct 14-17th in Marco Island, FL. One Source is a PLATINUM SPONSOR of IECA. Click on IECA for more info.
National Chemical Credit Association (NCCA): 3rd Qtr Meeting, Sept. 13-14th in Niagara Falls, Ontario (CAN), and 4th Qtr Meeting, Nov. 15-16th, Tampa, FL. One Source is a PLATINUM SPONSOR of NCCA. Click NCCA for more info.
North American Power Credit Organization (NAPCO) September 2012 Meeting; Sept. 12-14th, Seattle, WA. One Source was the corporate host for the May meeting. Click NAPCO for more info.
International Federation of Freight Forwarders Associations (FIATA): World Congress Oct. 8-12th, Los Angeles. The FIATA World Congress is being held in the USA for the 1st time in over 30 years!). Click FIATA 2012 World Congress for more info.
Association of Steel Distributors (ASD) - ASD 2012 Fall Conference, Oct. 25-27th in Las Vegas. ASD Regional Meetings Sept. 20th (Pittsburgh) and Dec. 5th (Chicago). Click ASD for more info.
Association of International Credit & Trade Finance Professionals (ICTF): ICTF New York Export Trade Forum, Sept. 19th, NYC (Paul Angeli, Vice President, will be the moderator); ICTF Annual Global Trade Symposium, Nov. 11-13th, Fort Lauderdale, FL. One Source is a FOUNDING MEMBER of the ICTF. Click ICTF for more info.
National Association of Credit Mgmt (NACM) - One Source is now a partner to NACM's Houston chapter, working with the NACM staff to create educational programs on the benefits of credit insurance and how it may assist the chapter's members. Click NACM Houston for more info. One Source recently joined the Connecticut chapter. Click NACM-CT for more info
NACM Credit & Financial Development Division (NACM CFDD) - John Flahaut, One Source VP, will be presenting at an upcoming NACM CFDD educational lecture in Phoenix. Click NACM CFDD for more info.
Turnaround Management Association (TMA) - One Source recently joined the Connecticut chapter. Click TMA-CT for more info.
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Looking for Previous Issues?
Are you new to our newsletter? Perhaps you deleted the email and need info from an earlier issue. Click on the One Source logo below to go to our website's homepage. On the bottom left, cick on "View Our One Source Newsletter Archive" to see the list of all previous issues, including a summary of each issue's topics and contents.
Monica Brown, Editor
newsletter@onesourcerm.com
One Source Risk Management and Funding
U.S. Service Center
281.240.3100 (p) 281.240.3130 (f)
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Don't Accept "NO" as the Final Answer!
Did the insurance carrier refuse your credit limit request (CLR) on one of your key buyers? If so, refer the issue to our Client Information Services (CIS) Dept for investigation. In 2011, our CIS Dept investigated over 340 buyers, had a 44% approval rate, and was able to get over $39 Million approved coverage that was initially declined by the carriers. By working closely with your buyer and the insurance carrier, CIS gets the required financial info for the carrier to reevaluate the CLR. In 2011, we obtained over 100 financial statements, and over 150 banks and trade references responded to our request for a reference. If your buyer is high risk due to their financial position or slow pay history, we may not be able to fix that (would you really want to extend credit to them?). However, if the carrier needs updated info to reconsider their decision, we can help. Refer the buyer to your CAS or Producer, who will open a request with our CIS Dept. We can even assist with international buyers (we have team members fluent in Spanish and French). Let our CIS team "do its magic!"
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Client Testimonials
(Feb. 2012 Survey)
One Source Products:
" protect our future"
"mitigates our risk"
"your credit insurance allows us to do more business domestic and internationally"
"helps us be a little more aggressive in the marketplace"
"we have been able to accept more customers because we are able to cover them with insurance"
One Source Service:
"service and follow-up are excellent"
"please continue to grow and invest in your people"
"our representative is responsive and cares about our business needs"
"I don't think you can get any better"
"they really take the time to know my business and develop that personal relationship"
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