4 minute read
Interview new member S2C S.p.A
Interview with Antoine Ninu, General Manager
S2C S.p.A. - Investing in the Digital Edge
Advertisement
ICISA is pleased to welcome S2C S.p.A. as a member. S2C is an Italian insurance company that was founded in 2010 specialising in surety bonds. In this interview Antoine Ninu shares his thoughts on the increasing need to embrace technological innovation and how collaboration within the ICISA framework can be of vital importance to achieve this.
According to Antoine S2C strives to be a ‘technology first’ company by making the necessary investments in technology and building up associated skill sets to ensure that they are constantly at the forefront of the
S2C
S2C S.p.A. is one of Italy’s leading specialist surety providers. The company’s team has deep-rooted market expertise both locally in the Italian and international surety markets. The underwriting policy is built on extensive industry experience in understanding risk with a strict and rigorous methodology at its foundation.
The company has had continuous growth from its inception, with a claim ratio that has consistently been lower than the market benchmark. In 2016, S2C S.p.A. achieved 10.6% year-over-year growth with a combined ratio of nearly 46% and a 3-year average ROE of 12.5%. At the end of 2016, the company’s solvency ratio was at 175%. S2C S.p.A. operates from its offices in Rome and Milan through a broad commercial network managing a diverse portfolio of multinational and medium-sized companies in various industries. The company offers a selected range of sureties primarily focusing on contract, VAT and customs bonds.
For more information about S2C SpA, please visit www.s2cspa.it latest methods to manage risks and serve clients better. He notes that “as a result S2C has had continuous growth from its creation with a claim ratio that has consistently been lower than the market benchmark.”
ICISA membership
When asked what Antoine expected from ICISA membership, he explains “S2C persistently strives to have the most up-to-date market knowledge and we believe that ICISA membership helps us to have more in-depth access to current trends and analysis”. He believes that being a member gives him access to new and relevant sources of information in order to have the latest perspective on new developments in surety markets. Having expert assessments and analysis from such varied and diverse backgrounds is seen by him as an invaluable resource in increasingly turbulent times. He also realises that ICISA membership is a two-way street and he looks forward to collaborating and actively contributing to ICISA’s development. He notes “we have a unique opportunity to understand Italian market trends and best practices from our industry with which we can help to provide insight and analysis to other members and share our experience to ICISA’s large audience.”
Technological developments
Antoine believes that the future of the surety industry will be greatly affected and largely defined by major technological developments. In the near future it will become increasingly essential for S2C and other players in the industry to harness the potential of these technological disruptions. He further notes that ICISA can play an important role in helping to guide the industry in accessing informative material and sharing best practices. Since its founding in 2010, S2C has made numerous of investments in new technologies
and in upskilling its employees to not only focus on raising productivity and providing better service to its clients, but also to remain agile and ready to adapt to new methods and workflows. He understands that the fast-paced change in our industry will affect all facets of the surety business, making it crucial to work together as an industry to explore and develop the right procedures and guidelines to help make the transition to increasing automation in the surety business. He considers ICISA as perfectly placed to provide its members and the industry at large a forum to collaborate and share expertise in the use and application of new technologies.
Education
Devoting resources to new technology is important to stay relevant in the markets of tomorrow, but it’s of no use if talented employees are not trained and skilled to take advantage of these. He adds that S2C is very much committed to invest and expand training opportunities in order to ensure that experienced staff are not only aware of different methods and integrated practices, but are also able to apply these in a successful manner. He emphasizes that “the STECIS training program is an excellent example of industryled training and networking events that can help foster an environment of collaboration and knowledge sharing.” He concludes the interview by stating that training initiatives such as this not only enhance the quality of the workforce, but benefit the industry as a whole.
Catalogue of Credit Insurance Terminology
The new English edition of the catalogue is available. It can be downloaded from the ICISA website (www.icisa.org). To order a hard copy, please send an email to secretariat@icisa.org
CATALOGUE OF CREDIT INSURANCE TERMINOLOGY
English edition
