Welcome to July's issue of Credit Insurance News Digest, the industry newsletter devoted to the global trade credit insurance industry. This issue is sponsored by Chubb

Credit Insurance News
Credit insurer is concerned at the spike in claims for bad debts in Australia. Mybusiness has reported that NCI's latest Trade Credit Risk Index recorded a 50% jump (to 462) in the number of trade credit insurance claims made between the March and June quarters in Australia this year. This is the highest number of claims ever recorded in the index’s seven-year history. The result also saw a corresponding rise in the total value of these claims, hitting AU$34.1 million — up from AU$27.8 million in the previous quarter. Overall, Construction saw the highest number of claims lodged, while Electrical topped the list by value, with claims worth AU$4.92 million. To read Mybusiness' article go to https://www.mybusiness.com.au/finance/6073-insurer-concerned-at-spike-in-claims-for-bad-debts.
A growing number of US businesses now view cash as safer than payment by credit. GTR (Global Trade Review) has published an article which reports that a new survey by Atradius indicates that a quarter of all B2B invoices issued by firms in the US, Mexico and Canada are past due. David Huey of Atradius told GTR that Atradius are seeing a deterioration in payment practices and predict a surge in payment delays throughout the rest of 2019. As a result, businesses in the US and Mexico are now requesting quicker payment of invoices than one year ago. In addition, more business now appear to view cash as safer than payment by credit, (51% in the US, 63% in Mexico and 39% in Canada) and plan to request payment in cash from B2B customers more frequently. To read GTR's article go to https://www.gtreview.com/news/americas/poor-payment-practices-put-north-american-firms-under-pressure/.
The door to a global recession is wide open. Fresh Plaza has reported that Euler Hermes and the Allianz insurance group have produced a combined study, German Global Trade Momentum (GGTM), to analyse the extent to which the German economy is "a heart monitor" for global trade dynamics. Johan Geeroms, Head of Risk Underwriting Euler Hermes Netherlands: commented “Germany is the third exporter in the world, and as an exporter, they’re widely represented in a number of economic sectors. . . As a result, global developments can be observed earlier in Germany than anywhere else.” According to Mr Geeroms, not only does the severely weakening German economy indicate that the door to a global recession is wide open, the GGTM research sees no sign of recovery. "It’s almost inevitable that the global economy will decrease in 2019. That will be the first time since the financial crisis.” To read Fresh Plaza's article go to https://www.freshplaza.com/article/9133182/german-gauge-global-recession-continues/.
Nimbla and QBE announce commercial trade credit insurance partnership. Nimbla, a digital insurance platform designed to provide small and medium-sized (SMB) businesses with flexible insurance to protect against insolvent customers, has announced a commercial partnership with QBE. The new collaboration, which aims to offer affordable trade credit insurance to SMBs, makes Nimbla a delegated underwriting authority of QBE and allows Nimbla to expand into new geographies. This announcement coincides with the launch of Nimbla’s new online platform, which has been redesigned from the ground up to make it easier and faster to use. To read Nimbla's news release go to https://www.nimbla.com/blog/nimbla-and-qbe-announce-commercial-partnership.
Lockton partnership aims to market trade credit insurance in the Philippines. Insurance Business Asia has published an article which notes that in emerging markets such as the Philippines, trade credit insurance is currently virtually unknown. Furthermore, trade finance options for businesses in the Philippines are quite limited, especially for small businesses. To help boost the profile of trade credit insurance in the Philippine market, Singaporean-Filipino financial technology start-up Vesl, has announced that it has partnered with re/insurance broker Lockton to raise awareness and uptake of the cover in the market. Through the partnership, Lockton will use the Vesl platform to market and promote trade credit insurance in the country. To read Insurance Business' article go to https://www.insurancebusinessmag.com/asia/news/breaking-news/lockton-partners-up-to-boost-sme-growth-173184.aspx.
Trade credit insurance in New Zealand is still 'catching on'. Insurance Business NZ has reported that although trade credit insurance is a well-known product globally, according to Atradius, New Zealand is still catching on to its benefits. According to Mark Hoppe, Atradius Oceania's Managing Director, market saturation for this product is still relatively low, with only an estimated 6-10% of suitable businesses using trade credit insurance. He notes that although the primary factor that puts businesses off is cost, in most cases the exposures pose a significantly higher cost to the business if payment is not made. He concludes: “I always say to businesses – if paying this premium could help you double your business in 2-3 years, would you do it? The answer is always ‘yes’. So it’s really a conversation about the benefits, rather than looking at the initial cost.” To read Insurance Business' article go to https://www.insurancebusinessmag.com/nz/news/breaking-news/are-your-clients-protected-against-bad-debt-173178.aspx.
Euler Hermes provides credit insurance to APiO Marketplace investor. Euler Hermes has announced an investment and strategic partnership with APiO Inc., a US FinTech company, to facilitate an innovative working capital solution called APiO EarlyPay for small-to-medium-sized businesses (SMBs). By directly integrating with leading accounting systems and leveraging the power of big data and AI, APiO EarlyPay aims to enable SMBs to register and get immediate funding on eligible invoices. According to APiO CEO William Borghetti: “Our proprietary technology allows APiO to simultaneously provide same-day funding for SMBs and create a totally new, high-quality asset class for institutional investors." To read Euler Hermes' news release go to https://www.eulerhermes.com/en_US/about-usa/press-releases/euler-hermes-partners-with-apio.html.
Tinubu Square launches Bonding Insurance Suite. Tinubu Square has launched a new product, the Tinubu Bonding Insurance Suite, which has been developed to support surety carriers in their digital transformation journey and to help them to adopt the technologies they need to manage an increasing number of bond wordings and signature processes and enhance their value proposition to customers. Olivier Placca, Tinubu Square Deputy CEO, said: “The Bonding Insurance Suite is an extension of our existing, proven software, so it offers opportunities to digitise transactions and take advantage of data assets. It will also ensure that companies are equipped for fluctuating regulations and the particular demands of operating in multiple geographical locations.” To read Tinubu Square's news release go to https://www.tinubu.com/launch-of-bonding-insurance-suite/.
The Berne Union latest newsletter: Export Credit and Investment Insurance, Today and Tomorrow. The Berne Union has released the July issue of its BUlletin, 'Export Credit and Investment Insurance, Today and Tomorrow'. This issue examines how current trends may influence the future of the export credit and investment insurance industry over the coming decade. In addition: Berne Union Educational Scholarship winner, Shelley Schad (AXA XL), presents her vision of ‘the export credit insurance industry in 2030’; Lyron Wahrmann and Asaf Gavrieli of Surecomp describe technology as a ‘change-enabler’ in the article Transforming trade finance via digitalization; and Atradius' John Lorié, describes the extent to which Public credit insurance benefits international trade. To read the BUlletin go to https://www.berneunion.org/Newsletter.
News Quiz 
We are delighted to launch July's News Quiz.
Just five short questions (all answers can be found in this issue and Credit Management News Digest), with the chance to win a £20 Amazon gift card or equivalent donation to the charity of your choice.
We will announce our next winner in the next issue on 11 September.
Click here to take part.

Thank you to readers who took part in June's Quiz. We are delighted to say that the prize went to Roy Stuart at Euler Hermes. Congratulations Roy!
New Appointments
Tinubu Square has announced the appointment of Sophie Riottot as Group Sales Director. She joins the company from Dhatim, a French start-up specialising in AI-powered invoice services, where she was responsible for sales strategy and partnership development. Prior to this, she was with Microsoft for over 17 years.
Markel International has appointed Keith Paul as senior underwriter in its trade credit and political risk team in Dubai to focus on new business development across the GCC and Africa regions. Mr Paul has more than ten years of experience in underwriting across political risk, surety, trade credit and financial lines and joins Markel from Coface Australia. 
Career Opportunities
Summer 2019: Featured Vacancy
Senior Account Manager - Commercial UK & Ireland 
35 hours/week. London
Atradius provides trade credit insurance, surety and collections services worldwide through a strategic presence in 50 countries. Atradius has access to credit information on 200 million companies worldwide. Its credit insurance, bonding and collections products help protect companies throughout the world from payment risks associated with selling products and services on trade credit. Atradius forms part of Grupo Catalana Occidente, one of the leading insurers in Spain and worldwide in credit insurance.

Unit / Team
As the Commercial Unit, located across the UK and Ireland, our key responsibility within the Atradius group is to ensure profitable and sustainable growth of the Regional portfolio and to manage customer satisfaction, retention and distribution strategy.
Within the team are sales, account management, customer service & support, project management and control teams who work together to oversee and implement the Commercial strategy in order to achieve their targets.
Atradius has its UK and Ireland HQ in Cardiff Bay, and a network of offices throughout the United Kingdom and Ireland, so that our customers can be assured of our personal services.

Job description
As Account Managers in the Commercial UK & Ireland Unit and based in the London office, to suceed in the role you must demonstrate a real desire to support our existing clients thus ensuring we remain the insurer of choice in a challenging London marketplace. Working with our Broker community you will service and grow an existing portfolio of clients in order to meet their needs and achieve your retention and additonality targets. You will make presentations to clients, brokers and other industry professionals in order to negotiate and close renewal of the policies within your portfolio. To do this effectively you will have, or be able to demonstrate sound communication and negotiations skills. You must have the ability to plan and execute your work independently and be able to react quickly to changing priorities.

Knowledge, Skills and Experience
  • Experience within Credit Insurance desirable 
  • Strong understanding of policy structures and an excellent appreciation of the responsibility that comes with managing relationships and delivering against operational plans 
  • Ability to successful renew business ,either at an individual or board level 
  • Well organised and prepared for all customer and broker visits 
  • Confident, ambitious self-starter with a desire to succeed in a competitive market 
  • A team-player, able to work alongside & with other team members to progress / enhance our offering to provide the optimum solution for our Clients & Brokers 
  • Proven ability to achieve financial targets  
  • Relevant business experience or degree 
  • Right to work in the UK
What we offer
  • A great and challenging place to work - dynamic, transparent and informal 
  • An environment for our people where they can realise professional growth 
  • Work in a very international working place 
  • Good career opportunities 
  • Attractive terms and conditions: salary in line with market conditions, commission scheme, pension scheme etc.
Office Location: 10 Fenchurch Street,London EC3M 3BE

Interested? Please send your CV and motivation letter to UKjobs@atradius.com.

Account Executive/Business Development Executive, Leeds
An opportunity to join the W Denis Credit Risks team, and become part of a well established growing independent specialist broker. 
Based out of the group head office in Leeds, you will be initially be responsible for new business throughout the North of England, supported by our in house business development team. Longer term there is the possibility of moving over to a servicing role as our business grows. 
Training and support is provided, and candidates need to be enthusiastic and self motivated. Experience of sales and credit insurance preferred, must be IT literate and familiar with the usual Microsoft programmes. 
Salary – commensurate upon experience. 
Apply in writing to John Cockshutt, Brigade House, 86 Kirkstall Road, Leeds LS3 1LQ john.cockshutt@wdenis.co.uk (please mark applications confidential).

About W Denis – W Denis Credit Risks Ltd is an independent limited company, with offices in Leeds, Tamworth and London. Majority owned by the W Denis Group, but with shares held by employees as well, the business has been trading since 2000, and has grown steadily in the last 9 years. The W Denis group was set up in 1963, and is a Lloyds of London broker, with its HQ in West Yorkshire. 

Junior Underwriter - Special Products Analyst team
Job description
Within our well established team based in London we have a vacancy for a junior Underwriter responsible for supporting the team to manage a portfolio of buyers within the Special Products Analyst (SPA) team. The SPA team is responsible for approving /acceptance of new requests for credit insurance cover from both our new and existing customers.

You'll get to:
Control Buyer Risk: Through financial and political risk analysis, applying underwriting principles and procedures to support a new risk, or modify an existing strategy, you will work collaboratively with Business Units to obtain and maintain profitable business and ensure appropriate market /sector intelligence is applied in order to be proactive. To be a success you will need to attend customer and broker meetings and present yourself in a knowledgeable and professional manner and apply knowledge gained at the meetings to manage risk.
Deliver Against Quality/Speed of Service: Contributing to ensure the development and maintenance of Service Level Agreements between Underwriting, Claim & Recoveries, and Business Units/Customer is managed successfully. You will control and improve workflow processes to ensure delivery against targets.

You'll achieve this using your:
  • proven technical / financial analysis skills or someone who convinces us they have the desire to learn
  • ability to work efficiently under pressure and deliver against speed of service deadlines
  • aptitude to think outside the box
  • interest and drive to keep up with economic, political and trade sector developments
  • interest in worldwide current affairs
  • willingness to develop
  • desire to deliver excellence 
  • proactive portfolio management
  • ability to work within a team environment 
And you will use your:   
  • excellent communication skills, written and verbal.
  • ability to work independently / self-starter
  • ability to multitask
  • Good organisational and time-management skills
  • Self-motivation, ability to work on own initiative, 
  • Strong knowledge of MS software packages
  • Flexibility to travel locally and internationally
You'll want to work for us because:
  • by joining Atradius you will become part of a successful and ambitious organisation
  • you will thrive in a dynamic, international and challenging work environment
  • you will get training and support to reach your full potential including the opportunity for continuous professional development
  • you will benefit from attractive terms and conditions, including competitive salary, pension package and a range of flexible benefits and rewards
Candidates must be fluent English speakers, a second language would however be an advantage and you must have to right to work in the UK.
Office Location:  Based in our office in London, you will also have the flexibility to travel in the UK and on an occasional international basis.

Contact details, Interested? Please send your CV, cover letter and salary indication to caroline.bannister@atradius.com.
Please note that we do not accept speculative applications from recruitment agencies.
Client Manager

Aon are currently looking for a Client Manager to join the Credit Solutions team based in the Reading office. 
About the role 

As a Client Manager your key responsibilities will include: Working as part of a multi skilled broking team and under instruction of client directors, to support strategic and global client relationships as well as ownership of own portfolio of clients. Interacting with Clients, Insurers and colleagues on day to day policy management including: 
  • Managing credit limit process (applications, follow up, providing feedback to clients) 
  •  Supporting clients on reporting of overdue buyers and liaising with insurers 
  • Assisting with claims submissions and claims’ broking process 
  • Negotiation of policy wordings with insurers and ensuring timely delivery of accurate policy documentation 
  • Management and monitoring of activity logs where required 
  • Providing clients with training and guidance on policy terms and conditions 
  • Gathering and analysing policy and market data, producing reports and presentations
Managing policy renewals within own portfolio and supporting client directors on renewal process for strategic accounts. Gathering and analysing relative statistical detail, submissions to market, chasing insurers for indications of cover, presenting terms and preparation of renewal reports. 
Preparation for, and attendance of, client and insurer meetings/conference calls plus timely follow up of meeting notes and actions.
Providing advice to clients on market developments and share knowledge of market trends to enhance the overall value proposition. 
Introducing and supporting team on new business opportunities to achieve individual new business target Liaising with colleagues across the Aon global network on Global Client programmes. 
Responsible for adherence to business processes, systems and procedures (including usage of e.g. applicable client service model, applicable insurer online platforms) and Aon insurer security policies where relevant. 
Working in accordance with the Aon UK Limited Risk Management Framework, and compliance with the Aon UK Limited policies, including participation in the management of risks (including completion of mandatory training) that may adversely affect the business, interests or reputation of any Group Company. 

About you
As a Client Manager your skills and qualifications will ideally include;   
  • Experience of credit insurance, credit management or related sector a requirement
  • Competent in use of Microsoft Office and IT systems   
What we’re looking for in you:   
  • Enthusiastic and innovative
  • Team player
  • Ability to handle significant workflow through efficient time management and organisation
  • Ability to use IT systems to efficiently to deliver client service
  • Self motivated and willing to use own initiative
  • Ability to find creative solutions to new problems as they arise
  • Integrity and working in a way that positively impacts our clients, colleagues and communities 
Salary and Benefits 
This role offers a competitive salary and bonus, plus a comprehensive benefits package and 25 days holiday. Through our flexible benefits, you will also have the opportunity to choose additional benefits, including healthcare, childcare vouchers and additional holiday.  We also offer tremendous potential with a growing worldwide organisation.
To apply email your CV and covering letter to Laura Chen-Hoyle at laura.chen-hoyle@aon.com.
Events & Offers
GTR Asia 2019, 3-6 September 2019, Singapore.
GTR Asia 2019 (formerly known as Asia Trade & Treasury Week) will return to Singapore September 3-6, 2019. Recognised as the world’s largest international gathering for the trade, commodity, fintech and treasury community, GTR’s annual event in Singapore last year welcomed a record-breaking total of over 1,100 industry participants from local and international banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and more!
2019’s event is set to be even bigger and better! Participants will have the chance to hear over 100 of the world’s leading trade, treasury and fintech experts reflecting on developments in the Asian market and more globally, whilst also having the chance to network and discuss trade priorities with over 500 different companies.
Delegates will also benefit from the use of multiple streams with coverage at the event focused on a range of topics and markets, whilst a variety of formats (breakouts, workshops, debates, formal launches, speed-networking) will provide excellent opportunities for engagement and knowledge sharing.
With the event once again enjoying unrivalled support from local government organisations and public bodies including the Monetary Authority of Singapore (MAS) and Enterprise Singapore, as well as the world’s leading financial institutions, attendees will receive critical market insight, build business relationships and gain the inside track on the latest financing trends and techniques.
Use code: EBD10 for 10% early booking discount – expires August 2. Click here for more information.
GTR Europe 2019, 14 October 2019, Paris.
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets! 
Last year, the two largest sectors in attendance were corporates & traders (39%) and bankers & financiers (22%). Over 250 different companies from around the world were in attendance, 78% of all attendees held a senior to a c-level position. Use code: EBD10 for 10% early booking discount – expires September 20. Click here for more information.
Supply Chain Finance Summit, 15-16 October 2019, Singapore.
BCR’s Supply Chain Finance Summit-APAC in Singapore focuses on the growth of supply chain finance across the APAC region.
With local governments, international and regional banks; and investors all actively encouraging the development of local and cross-border SCF programmes, it is now, more than ever before, vital to review the latest developments in this market and understand how to capitalise on opportunities in this region.
Join us in Singapore to hear from the industry's thought leaders, engage in debate, network with your peers and help define the future of working capital.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/supply-chain-finance-summit-apac-0.
 The Credit Insurance News delegate discount code is CIN19 – please utilise the code upon booking.

Alternative & Receivables Finance Forum, 14 November. London.
Alternative & Receivables Finance Forum tracks the transformation of receivables and invoice finance; showcasing the most successful new entrants to the market, examining the future of technology-enabled funding models, and driving the conversation on alternative finance for SMEs. This is a unique gathering, where you can network with established receivables finance providers and ‘alternative’ SME funders and find out how the competitive landscape for commercial finance is changing.
The comprehensive programme provides insights into the priorities influencing SMEs’ financial choices and showcases the latest technology-enabled distribution models.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/alternative-receivables-finance-forum-1. The Credit Insurance News delegate discount code is CIN19 – please utilise the code upon booking. Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
Supply Chain Finance Summit, 30-31 January 2020. Amsterdam
The fifth annual Supply Chain Finance Summit is a great opportunity to learn about the latest trends, ideas and developments transforming working capital and supply chain management, as well as a chance to network with leaders in the industry.
This in-depth event tracks the transformation of supply chain finance (SCF); showcasing the latest innovations within the industry for both domestic and cross-border financing, examining the future of technology-enabled supply chain models, and driving the conversation on increasing access of SCF for SMEs and emerging markets.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/supply-chain-finance-summit-1.
The Credit Insurance News delegate discount code is CIN20– please utilise the code upon booking. Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
About the Sponsor: Chubb
Chubb Global Markets (CGM) is the London Market wholesale and specialty arm of Chubb, the world’s largest publicly traded property and casualty insurer.
In addition to traditional political risk and trade credit products, CGM offers ‘Credit Complete’, a trade credit top up coverage that provides capacity excess of credit limits granted by primary insurers.
Initially developed for the German market, Credit Complete is now launching in the UK, Ireland and other selected countries. Designed to provide capacity across an existing portfolio of partially insured receivables to facilitate increased sales and optimise finance facilities, Credit Complete is entirely managed online via a dedicated user friendly portal and uses a simple, easy to understand wording that does not impact on the primary policy.
Credit Complete compliments Chubb’s core political risk and credit underwriting expertise and offers a solution for brokers and clients in times where capacity constraints are more prevalent than ever before. 
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