ABSTRACT
The impact of information technology innovation on the development of financial markets is one of the most important trends observed in recent years on the insurance market, both in the product area (new products and improvement of existing products), distribution channels, organizational structure and opening new markets (expanding demand), as well as changes in the business system of insurers. Considering the specificity of trade credit insurance, it can be expected that innovations will revolutionize this insurance industry.
The aim of this chapter is to describe the possible impact of innovations on the trade credit insurance market, with emphasis on insurance services and indications on how can it change the structure and the nature of trade credit insurance. The most important part of the chapter is the description of the impact of innovations on the business model of trade credit insurance insurers, system of sales (business information, underwriting, tariffing, product, distribution) and claim settlement (claim made, settlement of claims, recourse and debt collection). In addition, the authors try to describe the impact of innovation on services that make up the trade credit insurance market (demand, supply, ancillary services).
