The International Credit Insurance & Surety Association (ICISA) hosted its second edition of “Trade Credit Insurance Week” between 2 – 5 October 2023. Throughout the week expert speakers explored key topics impacting the industry today.
Trade Credit Insurance Week is organised annually as a series of online panels aiming at showcasing the industry and its importance for the global economy. This edition had 28 experts from within and outside the industry participating. Among the speakers were Antonio Fernández-Martos, Head of Unit, Multilateral Affairs and WTO at DG Trade (European Commission); Anil Berry, Group Board Member at Allianz Trade responsible for Marketing, Distribution and Commercial Underwriting; Antonio Marchitelli, CEO Global Specialties at Coface; as well as Angus Scorgie, Head of Prudential Regulation & International Affairs at Insurance Europe. Over 2400 participants registered for events across the week from a range of different locations and organisations.
Richard Wulff, Executive Director of ICISA: “Our position is to make the role of Trade Credit Insurance industry more accessible and to spread best practices between parties in the trade credit insurance sector. The success of the Trade Credit Insurance Week shows that our efforts are much appreciated by the wider market.”
Throughout the week, the importance of credit insurance products was highlighted as a tool that supports trade: “In this context of competitiveness export credit plays an important role, a role that has been growing and that we have identified as a necessity.” (Antonio Fernández-Martos, DG Trade), economies: “Credit insurance is key in terms of developing factoring and receivable financing.” (Dr Enga Kameni, Afrexim bank) and transition to sustainability: “We started by formulating ambitions and objectives based on three pillars, planet, people and prosperity” (Carine Cavallier, Atradius).
During the week, experts also looked at the products offered and possible challenges for the industry: “we need to remove complexity, be less technical and be much more solution-focused than product-focused” (Stuart Lawson, AON), “some banks are already changing the way they do things (…) and there might be pressure on pricing”( Jean-Maurice Elkouby, ING Bank).
ICISA will arrange TCI Week once again in 2024, as well as repeating the success of Surety Week early next year.
