Lo­gis­tics in­dus­try and insurance ser­vice providers come to­gether to man­age risk fac­tors

Cargo Talk - - Contents -

Re­cently sev­eral lead­ing ex­porters, lo­gis­tics com­pa­nies, banks and ser­vice providers from insurance sec­tor met at a Con­clave on Ex­port Risk Man­age­ment in Mum­bai. With the theme `Man­ag­ing Risk in Volatile Times’, the Con­clave dis­cussed risk mit­i­ga­tion is­sues and tech­niques in crit­i­cal ar­eas of ex­ports re­lated to insurance, for­eign ex­change fluc­tu­a­tion, sup­ply chain man­age­ment and geo-po­lit­i­cal move­ments. Speak­ing at this con­clave, Deepal Shah, CEO – Hin­dus­tan Cargo, pointed out that the ad­vent of glob­al­i­sa­tion and out­sourc­ing in­ter-de­pen­den­cies on var­i­ous fac­tors af­fect­ing global SCM is lead­ing to higher un­cer­tain­ties and in­creased com­plex­i­ties. Nim­ble­ness in op­er­a­tions backed by global SCM knowl­edge is the only way for­ward to mit­i­gate risks and im­prove costs and de­liv­er­ables. N Shankar, Chair­man cum Man­ag­ing Di­rec­tor, Ex­port Credit Guar­an­tee Cor­po­ra­tion of In­dia pointed out that credit insurance stands out from other non-life insurance prod­ucts.

Ex­port Credit Insurance plays an im­por­tant role in en­hanc­ing the com­pet­i­tive­ness of ex­ports, es­pe­cially of de­vel­op­ing economies.

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