Global Business Credit Insurance Market Overview:
Business 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. Business credit insurance is for products and services that are due within 12 months. COVID-19 pandemic has accelerated the demand for business credit insurance. This can be attributed to the increased uncertainty and protectionism in global trade, which is set to boost demand for business credit insurance. Some of the players profiled in the study 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) and AXA (France).
On the basis of geography, the market of Business Credit Insurance has been segmented into 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). If we see Market by Enterprise Size, the sub-segment i.e. SMEs will boost the Business Credit Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Companies will boost the Business Credit Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Coverage, the sub-segment i.e. Commercial risk will boost the Business Credit Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Manufacturers will boost the Business Credit Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Exponential Growth in International Business across the Globe
- Increasing Demand for Business Credit Insurance Coverage So As To Ensure Protection against Unique Export Risks
- COVID-19 Pandemic Has Boosted the Demand for Business Credit Insurance
Influencing Trend
- Rapidly Growing International Business Volumes
Restraints
- An Availability of Alternate Policy Options such As Self Insurance
Opportunities
- The Shift in the Distribution of Insurance towards Digitalization and Technology Platforms Presents Huge Opportunities in the Business Credit Insurance Space
Challenges
- Rising Concern about Fraudulent Policies as well as Claims
Key Market Developments:
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.
Target Audience:
Business Credit Insurance Companies, Business Credit Insurance Brokers/Agents, Regulatory & Government Bodies, Industry Associations, Upstream & Downstream Vendors, End Users and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Business Credit Insurance market on the basis of product [
] , application [], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Business Credit Insurance market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Business Credit Insurance industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are AIG (United States), PingAn (China), HDFC Ergo (India) and Great American Insurance Company (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Business Credit Insurance market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.