projects4mp
New member
EXECUTIVE SUMMARY
The time tested credit insurance organisation with expertise ECGC, till today enjoys virtual monopoly. Yet, the share in terms of value of exports is just eleven percent. The insurance mind set never existed in the export community in the past and even now, despite of IRDA’s effort to educate every one about risks, insurance and cover they do not voluntarily come forward for availing the services. Bankers were once a major channel for ECGC’s business. Today, banks are reluctant to insist exporters on ECGC policy.
The previous two studies brought out many issues such as (i) untapped potential exists due to inaccessibility for exporters (ii) established markets suffer due to lack of constant interaction (iii) dissatisfaction prevails due to delay in buyers credit limit approvals (iv) optional products were not properly understood by export community.
All those problems have been taken seriously and many proactive decisions came into implementation like opening branches in many places, fast fixation of credit limit on buyer and introduction of many products which are customer friendly in nature.
The time tested credit insurance organisation with expertise ECGC, till today enjoys virtual monopoly. Yet, the share in terms of value of exports is just eleven percent. The insurance mind set never existed in the export community in the past and even now, despite of IRDA’s effort to educate every one about risks, insurance and cover they do not voluntarily come forward for availing the services. Bankers were once a major channel for ECGC’s business. Today, banks are reluctant to insist exporters on ECGC policy.
The previous two studies brought out many issues such as (i) untapped potential exists due to inaccessibility for exporters (ii) established markets suffer due to lack of constant interaction (iii) dissatisfaction prevails due to delay in buyers credit limit approvals (iv) optional products were not properly understood by export community.
All those problems have been taken seriously and many proactive decisions came into implementation like opening branches in many places, fast fixation of credit limit on buyer and introduction of many products which are customer friendly in nature.