Export Credit Insurance Market Report: Trends, Forecast and Competitive Analysis to 2031

Export Credit Insurance Market Trends and Forecast

The future of the global export credit insurance market looks promising with opportunities in the short term (<1 year) and medium term (1-5 year) markets. The global export credit insurance market is expected to grow with a CAGR of 3.2% from 2025 to 2031. The major drivers for this market are the rising global trade activities & cross-border transactions, the growing awareness among exporters about financial risk protection, and the increasing instances of payment defaults & political instability.

• Lucintel forecasts that, within the type category, single buyer is expected to witness higher growth over the forecast period.
• Within the application category, short term (<1 year) is expected to witness higher growth.
• In terms of region, Europe is expected to witness the highest growth over the forecast period.

Gain valuable insights for your business decisions with our comprehensive 150+ page report. Sample figures with some insights are shown below.

Emerging Trends in the Export Credit Insurance Market

The export credit insurance market is shifting at an astonishing rate due to global trade changes, new technology, and risk variations. There is more than one factor impacting the direction of this vital industry.

• Accelerated Use of Digital Tools and Fintech Innovations: A greater focus is placed on digital solutions and fintech integration for easier application, underwriting, and policy management of export credit insurances. Unquestionably, this is helping businesses increase efficiency as processing times and administrative workloads are lowered. Exporters, especially SMEs, have better access to aid. Enhanced data analytics and risk assessment allow digital platforms to offer tailored and competitive insurance services.
• Increasing Need For Customized and More Flexible Insurance Solutions: A growing number of exporters have expressed the desire for more flexible and specific insurance products that meet the unique demands of every industry and market. The impact is more classic policies being replaced with customizable ones that address specific risks and provide optimum coverage. This includes coverage for newly emerging forms of trade like ecommerce exports well as more refined assessments of debt and political risk in targeted areas.
• Combining Political Risk Insurance and Commercial Credit Insurance: So as to address rising geopolitical uncertainties, there is a trend towards combining political risk insurance with commercial credit insurance. The effect is more comprehensive risk mitigation for exporters, improving their confidence to venture into more competitive markets by protecting them against buyer insolvency but also against currency inconvertibility, expropriation, and political violence. ‘Comprehensive’ means that exporters can focus more on fulfilling their obligations more and less on being non-compliant with volatile international trade laws.
• Mainstreaming Support for Small and Medium Sized Enterprises : What are SMEs categorized as enterprises with limited resources, small to medium size enterprises (SMEs) are often regarded as the backbone of a nation. Bearing in mind the significance of SMEs as drivers of export growth, there is more emphasis placed on developing export credit insurance products and procedures specific to SMEs. The impact is improved access to insurance for SMEs that in many cases find it more difficult to manage export-related risks than bigger corporations. This involves more responsive and accessible education, application processes, documentation requirements, and structure of premiums.
• Emphasis on Sustainable Trade and Environmental, Social, and Governance Factors: Export credit agencies and private insurers are beginning to incorporate sustainability and ESG elements into their risk evaluation and underwriting methodologies. As a result, there seems to be a change in the availability and pricing of insurance, where exporters and projects more aligned with social and environmental considerations are likely to receive more favorable terms. This development is part of a more responsible global approach to business and an understanding that sustainability affects long-term creditworthiness and political risk.

These trends are caused by the drilling down of Customization and Scope of Risks applied to export credit insurance making these services more digital, integrated, accessible to SMEs, comprehensive in risk coverage, and aligned with sustainable trade practices, thus redefining the export credit insurance market. The goal is to empower exporters with the tools and confidence they need to help them sail through the complexities brought about by international trade.

Recent Developments in the Export Credit Insurance Market

In response to the changes in the global trade landscape, the export credit insurance market is undergoing several key developments aimed at improving its support for exporters and addressing the changing risks.

• Expansion of Coverage for Non-Traditional Risks: Recent developments include the broadening of export credit insurance to cover non-traditional risks such as supply chain interruptions, changes in trade policy, and violations of intellectual property rights. The impact is more holistic protection for exporters functioning within intricate global value chains and encountering new forms of trade related risks.
• Greater Adoption of Data Analytics and Artificial Intelligence (AI): There is a growing tendency to utilize data analytics and AI for assessment, streamlining underwriting, and even detecting fraud in export credit insurance. The impact is expedited and precise evaluations of risks, effective policy issuance, and greater protection for insurers and exporters.
• Creation of Digital Platforms for Stakeholder Collaboration: Recent developments concern the design of export finance that allow greater collaboration and information dissemination among exporters, insurers, banks, and even government institutions in relation with export finance. The impact is enhanced collaboration and streamlined service delivery, which addresses the issue of information asymmetry.
• Prioritize Providing Solutions for Emerging and Developing Markets: Due to the opportunities and risks an emerging or developing market possesses, there is more attention directed to crafting specific tailored export credit insurance solutions for these markets. The result is greater support for exporters seeking to penetrate these markets, increasing trade and investment in high-risk economies.
• Development of Specialized Insurance Products for Individual Industries: Specialized sector-based export credit insurance products focusing on industries such as renewable energy, technological innovation, and agriculture are emerging in the market. This enables more accurate and effective risk management for exporters in these sectors that need more attention to sustain growth, leading to increased international competition and innovation.

These changes are affecting the export credit insurance market by increasing the insurers’ scope of risk exposure, applying sophisticated technologies and data precision to streamline processes, enhancing cooperation and support among industry players, broadening support for emerging market economies, and customizing support for specific industries.

Strategic Growth Opportunities in the Export Credit Insurance Market

The evolution of exporters across various sectors and markets provides targeted applications within the export credit insurance market ample strategic growth potential opportunities.

• Supporting E-Commerce Exports for SMEs: This segment stands out for the development of simple, tailored export credit insurance solutions that are designed for easy access by SME’s partaking in cross border e-commerce. The impact is helping smaller businesses to expand their online sales internationally and overcome payment risks.
• Providing Coverage for Sustainable and Green Exports: There is a growing opportunity to provide export credit insurance for goods, services and projects that are eco-friendly because of the heightened focus on sustainability across the globe. This will provide incentives for sustainable trade practices and aid the advancement of businesses that are supporting a greener global economy.
• Tafari Mapfumo yak Bashara Ketika Sook Jiya: There is ample opportunity in the development of new and agile products like underwriting policies that protect exporters from losses due to changes in political and commercial risks over trade and business relations with emerging and frontier markets. All of these measures can encourage exporters to cover these regions, contributing towards economic development and diversification of trade.
• Providing the Most Comprehensive Coverage Underwrite Policies: Providing tailored export credit insurance for project finance and infrastructure exports in developing countries is an example of a burgeoning market. The premiums collected in these markets will aid the realization and financing of crucial development projects to economic growth and international cooperation.
• Providing along with logistic services to purchase order financing moving with supply chain finance along with export credit insuring form a strategy for capture new markets. Offering integrated cooperation coupled with protecting accounts receivables solutions form pathways towards attaining these goals. The exported goods after their delivery shift therefore aligned shift the risk onto the exporters managing risks as a unit across the replacement parts chain.

These e commerce strategic initiatives underscore the importance and specific focus areas for growing opportunities in the export credit insurance market such as: promoting trade sustainability, aiding emerging market participation, infrastructure financing, and providing comprehensive financial services.

Export Credit Insurance Market Driver and Challenges

The balance of forces for the export credit insurance market is contemporary in nature influenced by the world economy, geo-political issues, policy, and technology which serve as both significant aids and major hindrances to growth.

The factors responsible for driving the export credit insurance market include:

1. Sustained Growth of International Trade and Supply Chain Integration: The continued expansion of international trade and the increasing interconnectedness of global supply chains creates demand for export credit insurance to mitigate the risks involved in cross border trade.

2. Increasing Geo-Political Risk and Economic Uncertainty: There is an increase in economic risks trade disputes in different parts of the world. These risks make international trade more challenging and necessitates the need for export credit insurance for exporters.

3. Government Sponsored Export Promotion Policies: Sponsoring export credit schemes is a prerequisite for many governments as a way to promote economic growth and rising levels of unemployment.

4. Deepening Understanding of Risk Management and Its Mitigation: This phenomenon can be observed in relation to the increasing sophistication of businesses, as they comprehend the importance of export credit insurance in safeguarding international receivables and reducing possible losses.

5. The Necessity to Access New and Untapped Markets: Export credit insurance is often sought by exporters wishing to exploit the new and emerging market opportunities because of the greater commercial and political risks involved with these regions.

Challenges in the export credit insurance market are:

1. Complexity of Global Regulations and Compliance: Such uniformity does not exist among the various countries, regions, and cultures, which presents a significant challenge for both exporters and export credit insurers.

2. Evaluation and Pricing of Political and Economic Risks: It poses a challenge to export credit insurers to systematically evaluate and price the volatile political and economic risks of various international markets.

3. Administration of Claims and Reclamation in International Relations: In international trade disputes and bankruptcy of buyers, the handling of claims and recovery can be very lengthy, expensive, and complicated legally.

The global trade expansion currently drives the market for export credit insurance alongside rising geopolitical and economic tensions, government initiatives focused on promoting exports, and increasing focus on risk zone management. As willingness to access new markets grows, there is also a need to manage risks. On the other hand, issues pertaining to regulatory intricacy, risk evaluation, and claims control systems need to be easily solved for international trade to be supported effectively.

List of Export Credit Insurance Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies export credit insurance companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the export credit insurance companies profiled in this report include-

• Euler Hermes
• China Export & Credit Insurance Corporation
• Coface
• Credendo Group
• QBE Insurance
• Atradius
• Cesce
• Swiss Export Risk Insurance SERV
• Allianz Trade
• ARI Global

Export Credit Insurance Market by Segment

The study includes a forecast for the global export credit insurance market by type, application, and region.

Export Credit Insurance Market by Type [Value from 2019 to 2031]:

• Single Buyer
• Combination of Multiple Buyers

Export Credit Insurance Market by Application [Value from 2019 to 2031]:

• Short Term (<1 Year)
• Medium Term (1-5 Years)
• Others

Export Credit Insurance Market by Region [Value from 2019 to 2031]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the Export Credit Insurance Market

The latest changes in the export credit insurance market show an industry response to rising geopolitical tensions, economic instability, and the need for businesses to manage risks in international trade. Governments and private insurers are responding to these issues by increasing automation, providing more customized plans for SMEs, and creating new products for emerging markets. The goal is to help exporters broaden their international reach while simultaneously ensuring protection against loss due to insolvency, political risks, and other volatile factors related to the buyer.

• United States: Exports Credit Insurance in the United States is financed through the Ex-Im Bank of the United States (EXIM) and private insurance companies. Some of the latest changes are EXIM increasing attention for supporting Small and Medium Sized Enterprises (SMEs) and attempts to slow China's export credit dominance. There is also growing concern about digital platforms that ease the application process and management of export credit insurance policies. Specialized export credit insurance per sector and political risk insurance with commercial credit risk are increasingly provided by private insurers.
• China: The export credit insurance market in China is led by a government body called China Export and Credit Insurance Corporation (SINOSURE). Recently, SINOSURE has extended its coverage due to the growing Chinese Belt and Road Initiative to aid Chinese exporters in emerging markets. There is also an increased consideration in developing more flexible and customized insurance covers to new investments and trade which employs novel actions by these exporters. Service digitalization is also rapidly growing.
• Germany: The Germany export credit insurance market is the responsibility of Euler Hermes (now Allianz trade), on behalf of the German government (Bundeskreditgarantien). Recent Developments focus more on exports related to non EU countries and seems to have greater attention towards supporting German SMEs. There is also a focus on creating policies that can protect and foster sustainable trade and investment. Risk evaluation and policy management functions are further enhanced using digital platforms for better efficiency and access enabling the exporter.
• India: The market for export credit insurance is primarily catered to by the Export Credit Guarantee Corporation of India (ECGC) in India. ECGC has been trying to improve its export coverage to include more difficult and new markets. There is also an emphasis on streamlining policies and providing better risk management tools to Indian exporters. Efforts to promote the use of export credit insurance amongst SMEs, as well as the creation of digital service delivery platforms, are currently in progress.
• Japan: The market of export credit insurance for Japan is served by the Nippon Export and Investment Insurance (NEXI), which is a government body. NEXI has also concentrated its attention on Japanese businesses venturing into new and strategic regions, especially in Asia and Africa, for Shinto expansion since those areas are relatively new. There is a growing trend of removing rigid requirements and structures within policies and services offered, increasing customization of the insurance products as well as higher levels of digitization of services for exporters from Japan.

Features of the Global Export Credit Insurance Market

Market Size Estimates: Export credit insurance market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2019 to 2024) and forecast (2025 to 2031) by various segments and regions.

Segmentation Analysis: Export credit insurance market size by type, application, and region in terms of value ($B).

Regional Analysis: Export credit insurance market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the export credit insurance market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the export credit insurance market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the export credit insurance market by type (single buyer and combination of multiple buyers), application (short term (<1 year), medium term (1-5 years), and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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