Market Highlights: Trade credit insurance provides cover for businesses if customers who owe money for services or products do not pay their debts, or pay them later than the payment terms dictate. It gives businesses the confidence to extend credit to new customers and improves access to funding, often at more competitive rates. Trade credit insurance is for products and services that are due within 12 months. COVID-19 pandemic has accelerated the demand for trade credit insurance. This can be attributed to the increased uncertainty and protectionism in global trade, which is set to boost demand for trade credit insurance. The market study is being classified and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Key Players: The prominent players in the Trade Credit Insurance are Atradius (Netherlands), Coface (France), Zurich Insurance Group (Switzerland), Credendo Group (Belgium), QBE Insurance (Australia), Cesce (Spain), EULER HERMES (A Allianz Company) (Germany), Marsh Inc. (United States), Aon (United Kingdom), AXA (France), AIG (United States) and PingAn (China).
On 16 Jan 2017, Indian insurer HDFC ERGO has announced the launch of a new trade credit insurance product. The product will cover businesses against the commercial risks of their buyer’s defaults. Causes of loss covered by the policy will include insolvency and default.
Key Questions Answered in the Report What will the Trade Credit Insurance Market size and the growth rate be in Future? What are the key factors driving the Trade Credit Insurance Market? What are the key market trends and macro-economic impacting the growth of the Trade Credit Insurance Market? What are the challenges to market growth? Who are the key vendors in the Trade Credit Insurance Market? What are the market opportunities and threats faced by the vendors in the Trade Credit Insurance Market? Trending factors influencing the market shares of the Players. What are the key outcomes of the five forces analysis of the Trade Credit Insurance Market?
Research Methodology: The top-down and bottom-up approaches are used to estimate and validate the size of the Global Trade Credit Insurance market. In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Trade Credit Insurance market. In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc. Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Trade Credit Insurance Companies, Trade Credit Insurance Brokers/Agents, Regulatory & Government Bodies, Industry Associations, Upstream & Downstream Vendors, End Users and Others. This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc. Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.