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Today, this number has been reduced to three large groups: Allianz Trade (Euler & Hermes), Atradius
and Coface, which control about 60 % of the market.

3. Role of Trade Credit Insurance As A Management Tool

The role of the trade credit insurer is not limited to the traditional notion of insurance by simple
financial protection in the event of a bad debt. All credit insurance companies nowadays offer credit
management services, providing clients with credit information, credit lines for potential buyers and a
continuous follow-up of the credit risk of the insured. 13

Trade credit insurance includes a large package of services, such as continuous monitoring of the
credit-worthiness of the insured’s customers, servicing the account receivables and debt collection. The
value of trade credit insurance is to provide an external complement to internal risk management and to
bring new and more effective methods of control. Accordingly, the trade credit insurer is present at
several stages of the value chain of the credit department (see Figure 3).

Figure 3. Trade credit insurer’s business cycle vs. insured supplier’s business cycle

Appendix: CG - Capital Group, CDS – Credit Default Swap

Source: J. Lisowski, Ewolucja rynku ubezpieczeñ kredytu kupieckiego w Polsce, Wydawnictwo
Uniwersytetu Ekonomicznego w Poznaniu, Poznañ 2019, p. 61.

13 A. S. J.Riestra, op. cit., p .2