Risk management at SERV
Did you know that the public export credit agency, in other words Swiss Export Risk Insurance SERV and its predecessor ERG, has been in existence for a total of 90 years? We have been assisting companies by covering a wide range of risks and supporting them throughout the entire duration of their export transactions for nine decades.
What for many is too great a challenge, we see as an opportunity: Managing complex risks is part of our daily work. We specialise in risk management and support our customers in successfully opening up even challenging markets.
“Managing complex risks is our daily work.”
Peter Gisler
CEO of SERV
But what risks do we encounter on a daily basis? Below you will find a brief overview of the various types of risk that we work with every day – explained using examples.
Political and strategic risks
Political and strategic risks also affect SERV. Political changes such as international crises or expanded mandates directly impact our business. The focus is currently on the climate transition, in which we are increasingly seeing conflicts of interest between economic viability and political climate goals.
Operational risks
Operational risks such as budget shortfalls or skills shortages present constant challenges for companies – especially since highly specialised skilled workers are hard to find. SERV’s diverse and first-class employees mean it is very well prepared for the coming challenges. This committed team, which combines creativity and pragmatism, makes us a reliable partner for our customers even in difficult times.
External risks
Global economic shocks, sanction risks and strict ESG guidelines can pose major challenges for companies – up to and including payment defaults or reputational damage. SERV acts as a reliable shield here, providing protection when the economic storm hits and remaining steadfastly at your side even in strong headwinds.
Risk assessment of transactions
Our core competence is assessing the risk of individual transactions, particularly in relation to traditional credit and country risks, and determining appropriate premiums for them. We insure not only typical exports but also exceptional projects, from a ski resort and a Netflix production to rollercoasters, LED banners in sports stadiums and pregnant cattle.
Monitoring and portfolio management
In addition to insuring risks, our work also involves monitoring them on an ongoing basis. We do this using a limit system that requires a balance between our development mandate and risk management. SERV is also active in the reinsurance market, carefully reviewing these risks through 18 existing agreements with other ECAs and ongoing negotiations with multilateral institutions.
Claims processing
In claims processing, we are your reliable partner and mediator in the event of differences of opinion. Whether it’s moral risks or attempted fraud, we have seen it all before and navigate through every challenge with experience and a cool head.
Recovering funds
Recovering funds from politically unstable countries can be fraught with risks – almost like in a spy film. But even in such situations we are fully prepared and keep a level head.
There are always risks, wherever you are and whatever you are doing. We are here to ensure that these risks do not become obstacles. We are your partner, your security networker and – yes – sometimes your problem solver too. It may not always be possible to control risks, but we can ensure that they never blow you off course.
