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