Industry Background:
Credit insurance can be defined as a commercial coverage against losses resultant of a failure of occupational mortgagors to pay their obligation to the insurer, usually due to liquidation. The coverage is geared to manufacturers, wholesalers, and service providers who may be dependent on a few accounts and therefore could lose substantial income in the event of a liquidation/insolvency. It is often termed as bad-debt insurance. Credit insurance software is a full end-to-end software solution comprising an online portal for brokers and policyholders. It facilitates credit insurers to manage the lifecycle of their products, from commercial and risk underwriting to claim payment. The software supports all operations of a credit insurance firm such as policy set-up, applying for payment on costs invoices; premium calculation and invoicing coverage request handling and arbitration; payment under guarantee, claim to handle, and collection from the debtor (amicable and legal) when applicable.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Codix (France), Coface (France), Collenda (Germany), Comarch SA (Poland), DXC Technology Company (United States), ESKADENIA Software (India), EULER HERMES (France), Onguard (United States), SCHUMANN (Germany) and Tinubu Square (France) |
According to AMA, the market for Credit Insurance Software is expected to register a CAGR of 3.2% during the forecast period to 2028. This growth is primarily driven by The Rising demand from the Banking Industry and Growing internet penetration and digitization across the world.
Globally, a noticeable market trend is evident The growing demand for cloud-based solutions
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Codix (France), Coface (France), Collenda (Germany), Comarch SA (Poland), DXC Technology Company (United States), ESKADENIA Software (India), EULER HERMES (France), Onguard (United States), SCHUMANN (Germany) and Tinubu Square (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
Influencing Trend:
The growing demand for cloud-based solutions and High adoption from policy brokers
Market Growth Drivers:
The Rising demand from the Banking Industry and Growing internet penetration and digitization across the world
Challenges:
Lack of Awareness regarding the banking software in the underdeveloped region
Restraints:
Technological Complexities related to the Credit Insurance Software
Opportunities:
Technological Advancement Associated with Credit Insurance Software and High demand from a developing country
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Credit Insurance Software Market
- Analysis about New Entrants in Credit Insurance Software Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Credit Insurance Software Study Sheds Light on
The Credit Insurance Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Credit Insurance Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Credit Insurance Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.