EFIC’s managing director, Angus Armour and executive vice-president and managing director, ZEMS, Daniel Riordan, say the alliance will enhance each organisation’s delivery of products and services to their respective clients, predominantly in the provision of political risk insurance (PRI).
“Combining ZEMS’ expertise and risk appetite and EFIC’s extensive experience in emerging markets will enable both organisations to better respond to new trends and client needs,” says Chang Foo, head of product management and risk transfer, at EFIC.
The alliance aims to cover three principal areas: (i) capacity building where EFIC looks to leverage private market capacity to support Australian exports and overseas investment; (ii) information exchange on product enhancement and development; and (iii) information pooling to improve risk assessment and management.
This alliance is part of a broader strategy by EFIC to work with the private sector to achieve its “market gap “mandate. “It’s a win-win situation – EFIC and ZEMS will combine their capacity to provide greater levels of support to their clients,” says Foo.
