Q: Hi Klarins, with Hong Kong slowly emerging out of the Covid restrictions, what trade credit insurance buying trends are you seeing in the market?
A: We have certainly received more enquiries on trade credit insurance and businesses seeking risk migrating advice since Q2 2022. They come from all channels, such as direct, referral and digitally, and in particular, the household equipment and electronics industries. As a trusted and reputable brand, many are being referred by their own buyers in the US and Europe!
As trading companies are experiencing a tremendous bounce-back from the relaxation of Covid measures, exporters are keen in protecting their accounts receivable against bad debts through credit insurance. When negotiating with new customers in new markets, especially exporting to those in the US and Europe where higher sales and longer payment terms are involved, our global company database can offer exporters with credit rating insights to help them with formulating cash flow and internal credit management procedures.