Credit Guarantee was the first South African short-term insurer to acquire the prestigious ISO 9001:2008 service quality rating. And not only the first to achieve this accolade in South Africa, but is also the first credit insurer worldwide to do so! Another fine accomplishment was the fact that the company achieved this rating on its very first attempt!
The ISO 9001:2008 standard was revised and published in December 2000. Credit Guarantee was within the first 1% of South African companies that converted to the new standard.
To continue to provide credit insurance cover in as many countries as possible, consistently means that the company has to pursue a 'best practice' philosophy in every sphere of the business! The internationally recognised standard was in fact, a logical step to follow and provides a sense of security for the international credit insurance and re-insurance community with whom the company has very strong ties.
Credit Guarantee's ISO 9001:2008 rating complements its AA credit rating by Global Credit Ratings Company. This AA rating signifies a high claims paying ability and also takes into consideration our exposure to adverse economic conditions, but recognises that Credit Guarantee is well positioned to defend its leading position in the market.
Companies were given a three-year period to convert from ISO 9001/2:1994 to ISO 9001:2008 standard. Credit Guarantee's new ISO 9001:2008 registration was effective from 22 January 2002.