One of BIIA’s missions is to provide a neutral, open forum through which members, business information users, regulators, and government and public information sectors can debate and resolve common issues.  This was one of the primary reasons to invite ICISA to take part in our conference.

ICISA represents one of the largest user groups for business information and was very supporting of our request to participate in a panel discussion to discuss the topic of the future of trade credit and the implications on information services.  BIIA thanks ICISA of being a co-producer of our conference.   Rob Nijhout, Executive director of ICISA delivered his message to our industry:

Credit Insurance Industry’s Perception of Development Impacting their Business:

  • More personalised services
  • Big Data
  • Information Technology
  • Regulation
  • Restrictions on internet access
  • Increased compliance and regulatory demands

Credit Insurance Industry’s Wish List Concerning Information Services:

Credit information suppliers could perform better in terms of:

  • Transparency – being able to better assess risk
  • Group structures – from the ultimate parent to the local branch offices
  • Key information lacking –  reporting too superficial
  • Quality – varies country by country
  • Reliability – not always certain whether the information can be trusted
  • Financials – consolidated financials lacking

Four industry experts took this wish list to heart and presented an overview of shortcomings in the information infrastructure and poor attitudes relating to disclosure.  Nevertheless there appears to be light at the end of the tunnel due to new technological developments and the growth of digital services.  In particular the rapid growth of e-commerce seems should be a positive factor in improving transparency.

To download the full presentation click on this link: ICISA Hong Kong 2015

BIIA thanks ICISA for their support.

001 Session Nijhout 2015-08-24