Credit Insurance Market Share, Size, Outlook, Trend 2025

Credit Insurance Market to 2025 - Global Analysis and Forecasts by Component (Products, and Services); Enterprise Size (Small & Medium Enterprise, and Large Enterprise); & Application (Domestic, and Export)

Publication Month: Oct 2018 | Report Code: TIPTE100000758 | No. of Pages: No. of Pages142 | Category: Technology, Media and Telecommunications | Status: Published

The credit insurance market was valued at US$ 8.64 billion in 2017 and is projected to reach US$ 10.77 billion by 2025. The Credit insurance market is expected to grow at a CAGR of 2.9% during the forecast period of 2017 to 2025.

The credit insurance market refers to the type of insurance which deals with property and casualty insurance. The traders or the merchants or the exporters across the globe faces severe challenges related to slow payment, debtor’s insolvencies and bankruptcies. This factor has bolstered the adoption rate of credit insurance policies in the developed as well as developing regions. The major benefit of credit insurance which attracts the consumers is that the insurance policies protects the companies from non-payment of commercial debts. The global trade sector is experiencing a significant growth in both domestic market as well as international market, with Europe and North America being the leaders in the exporting various goods and products. Countries in Asia Pacific, Middle East and Africa, and Latin America are constantly experiencing substantial demand for trading and exporting products out the country. The global Credit Insurance market for credit insurance is expected to exhibit high growth in near future. Some of the major driving factors contributing to the market growth includes the global macro-economic instability, which is posing a severe commercial threat to the trader, thereby, increasing the adoption of credit insurance. Another factor catalyzing the demand accounted for different services offered by the companies which include sales support and account receivable support. However, the growth of global market for credit insurance accounted for several fraudulent cases related to insurance claims from both the policyholders as well as the insurance underwriters.

The market for credit insurance globally has been segmented on the basis of components into two major segment including products and services. The companies operating in the global credit insurance market design and innovate robust products and services depending upon the requirements of the customers or clients. The global credit insurance market is further bifurcated on basis of enterprise size as small & medium enterprises (SMEs) and large enterprises. The large enterprises capture a significant market share in the global credit insurance market over the years. The different types of applications of credit insurance includes domestic trading market and export trading market. The export segment in the application is much more prominent and the demand for credit insurance products and services are gaining importance in the domestic market in the current years. The global market for credit insurance is categorized on basis of five strategic regions namely; North America, Europe, Asia Pacific, Middle East and Africa, and South America. Geographically, the two most dominant region in the current market scenario accounted for Europe and North America.

Lucrative Regions in Credit insurance Market

Lucrative Regions in Credit insurance Market

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Credit insurance Market Insights

Improving Sales and Accounts Receivable Support Benefits to Accentuate the Demand for Credit Insurance

Businesses now a days are constantly focusing on enhancing their technologies, services, and customer base in order to improve the sales year on year. The credit insurance companies help the manufacturer, distributors, suppliers and other business traders with enhanced knowledge to select the appropriate customers, in order to optimize the trader to optimize their company’s bottom line. Selecting the inappropriate or wrong customers lead to credit defaulter or slow pay customers, which again negatively impact on the company’s sales. Credit insurance also offers protection against exceptional export risks by stipulating the market dynamics and knowledge across the globe in which the company operates. This offers the traders to venture into different geographies, thereby resulting in increase in customer base and ultimately improving sales. This factor also mitigates the potential risks of the company with less clientele. These factors place the trader especially an export business company at a competitive advantages position over other traders operating in the same industry.

Component -Based Market Insights

The credit insurance market has been segmented on basis of component as products and services. The products are the insurance policies offered by the underwriters, which benefits the insurance buyers or traders to understand the market scenario and the available risks related to the buyer’s business. This factor is a major driver for the product segment under component segment. On the other, the insurance companies are also dedicating their time and efforts to offer their clients with enhanced services, which is propelling the demand for credit insurance in the merchandise sector across the globe.

Credit insurance Market, by Component – 2019 and 2025

Credit insurance Market, by Component – 2019 and 2025

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Enterprise Size -Based Market Insights

The global credit insurance market is segmented on basis of enterprise size as small & medium enterprises and large enterprises. The credit insurance companies offer their products and services to every level enterprises and also alters the policies and services depending upon the enterprise size, annual revenue, trading history, historical debt loss, trade sectors and customer base. In case of the policyholder opts for political risk coverage, the premium amount is higher for both large and small & medium enterprises.

Strategic Insights

Report CoverageDetails
Market Size Value inUS$ 8.64 Billion in 2017
Market Size Value byUS$ 10.77 Billion by 2025
Growth rateCAGR of 2.9% from 2017-2025
Forecast Period2017-2025
Base Year2017
No. of Pages142
No. of Tables17
No. of Charts & Figures66
Historical data availableYes
Segments coveredComponent ; Enterprise Size ; & Application
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Players operating in the Credit insurance market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the credit insurance market. A few developments by key players of the credit insurance market are:

In June 2018, Atradius N.V. opened branch office in Sofia, Bulgaria to strengthen its strategic presence in the burgeoning Bulgarian market, through steadily expanding exports and high GDP growth rates, creating a substantial credit insurance market volume.

In September 2018, Coface announced that it has signed a binding agreement to acquire PKZ.

Credit Insurance Market – by Component

  • Products
  • Services

Credit Insurance Market – by Application

  • Domestic
  • Exports

Credit Insurance Market – by Enterprise Size

  • Small & Medium Enterprise
  • Large Enterprise

Credit Insurance Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Spain
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • SAM
    • Brazil
    • Rest of SAM

Credit Insurance Market – Company Profiles

  • American International Group, Inc
  • Atradius N.V.
  • China Export & Credit Insurance Corporation
  • coface sa
  • Credendo
  • Euler hermes
  • Export Development Canada
  • Qbe insurance group limited
  • zurich insurance group

The List of Companies

1. Euler Hermes
2. Atradius N.V.
3. Coface SA
4. American Internation Group, Inc.
5. Credendo
6. QBE Insurance Group Ltd.
7. Zurich Insurance Group
8. China Export & Credit Insurance Corporation
10. Export Development Canada

  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the credit insurance market, thereby allowing players to develop effective long term strategies.
  • Develop/modify business expansion plans by using substantial growth offering in developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to segmentations like components, enterprise size, and applications.
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