The United Nations (UN) Centre for Trade Facilitation and Electronic Business (CEFACT) Forum took place in Geneva, Switzerland, from 8 to 12 May 2023. Over 350 representatives from 55 countries attended to discuss transparent and effective processes for global trading. Over the years, the UN CEFACT Forum has played a pivotal role in shaping the future of trade facilitation from a digitalisation perspective.

Affiliated industries (trading, shipping, banking, customs, etc.) have transformed their documents into digital data and were actively discussing the international digital framework from a practical point of view during the meetings. Cargo insurance document has also been recognised as an internationally exchanged document and therefore listed as a category under the UN/EDIFACT (Electronic Data Interchange for Administration, Commerce and Transport). However, it has not been discussed with insurance representatives for many years. I had the opportunity to present updates on cargo insurance at the forum.

The points I made were:

— Most cargo insurance certificates/policies are still issued as a PDF or on paper; therefore, discussions need to be focussed on harmonised digital frameworks
or data standards on an international level.
— Countries are working to transform cargo insurance certificates/policies into digital data. Accordingly, a data standard among the insurers in Japan has been set.
— Findings from the recently developed framework of digital data standards in Japan.

Along with other trade documents, cargo insurance documents are assigned and transferred internationally. Today, once trade documents are exchanged digitally; expectations are that the shippers/consignees will also request cargo insurance documents digitally.

It’s time we face digitalisation and catch up to affiliated industries.