Euler Hermes bags the HKB International Business Awards for Business Insurance

Euler Hermes launched a sector-specific trade credit solution initiative.

With over 100 years of experience and extensive global network and financial solidity, Euler Hermes is the world’s leading provider of trade credit insurance, debt collection and surety bonds solutions. The company provides comprehensive risk monitoring, economic intelligence, and industry risk analysis to various enterprises. Euler Hermes tailors its market intelligence reports by countries and sectors in order to provide bespoke reports to its clients. Since trade credit insurance in Asia Pacific is still at its infancy stage with an approximate penetration 5-7% in most markets, Euler Hermes has embarked on market education about trade credit related risk management and provided market intelligence to aid decision-makers in making calculated business decisions. This has garnered Euler Hermes the 4th Hong Kong Business International Business Awards for Business Insurance.

Unlike other insurance products, for trade credit insurance, there is a lot more insurer-customer interactions on a day-to-day basis when it comes to risk monitoring and market intelligence. Euler Hermes' 40 million companies monitored in its worldwide risk database, industries, and countries aids its customers to choose the right buyers and the right markets to avoid bad debt in the first place. But, when the unexpected does arrive, Euler Hermes gives companies the confidence that their businesses and transactions are protected.

To support Euler Hermes' sector-specific trade credit solution initiative, the company has integrated its marketing, EDM and social media campaigns to provide customers and potential customers with intelligence in macro-economic, payment, and insolvency trends in five key sectors of Asia Pacific region: automotive suppliers, electronics, chemicals and pharmaceuticals, food, and households. The firm has secured significant new business in the midst of its marketing push to the automotive, electronics, and chemical/pharmaceuticals sectors from January to May 2018.

The HKB International Business Awards was held on September 5, 2018 at the Island Shangri-La, Hong Kong. The award honours the most innovative projects and best practices amongst first-rate international businesses in Hong Kong.

The 2018 nominees were judged by a panel consisting of Andrew Ross, Managing Director at Baker Tilly Hong Kong; Roy Lo, Managing Partner at SHINEWING (HK) CPA Limited; Charbon Lo, Director at Crowe (HK) CPA Limited, and Anthony Tam, Executive Director in Tax Services at Mazars Hong Kong.

If you would like to join the 2019 awards and be awarded as one of the most outstanding international companies in Hong Kong, please email [email protected].