Together with the Swiss State Secretariat for Economic Affairs (SECO), SERV commissioned an external consulting firm to conduct a benchmark analysis of public export credit agencies (ECAs) in summer 2020. By systematically learning from other ECAs, SERV is able to develop new strategies and operate even more efficiently on the basis of an established benchmarking model for export credit agencies.
In an international comparison with other ECAs, SERV achieved very good to excellent efficiency ratings in numerous categories of the results. To maintain its leading position, however, it is essential that SERV keeps on developing. The Swiss export industry has changed significantly, as have the opportunities available in foreign markets. SERV must become even more flexible in how it operates, in order to keep pace with foreign ECAs in the long run and to effectively support the Swiss export industry in this changed environment. Peter Gisler, CEO SERV explains: ‘SERV will have to evolve from an insurer of last resort into a trade facilitator in order to help Swiss exporters remain competitive in the future.’ The first step towards this has already been taken with the ECA Pathfinding Project, launched by SERV two years ago to give SMEs better access to foreign infrastructure projects.
Additional, longer-term support and promotion measures are currently being assessed, such as adapting working capital insurance. Having liquidity for new orders is essential for successfully overcoming the COVID-19 crisis. SERV’s working capital insurance offers a way to achieve this and will be further improved going forward.
Swiss exporters face many different challenges. SERV relies on feedback from the export industry and will seek it more actively in future.