Even if you’ve never experienced a loss before, it only takes one to greatly affect your bottom line and the future of your business.
With trade credit insurance from Coface, your business is protected against loss from bad customer debt. That affords you greater peace of mind to focus on your company’s success.
After an in-depth analysis of this retailer’s situation, Coface warns the company of the customer’s non-payment risk. The CEO, with input from the plant manager and the head of sales for large accounts, is nevertheless prepared to proceed with this order, which alone would increase the company’s annual sales by 5%.
After further reflection, the chief financial officer decides to request a meeting with a Coface analyst, who convinces him emphatically of imminent and serious difficulties with the prospect. In the end, the company passes up the deal and leaves it to a competitor. That competitor is never paid by the retailer, which files for bankruptcy just a few weeks after the meeting with Coface.
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Credit Insurance protects businesses from bad debt caused by a customer's insolvency or payment default. It safeguards cash flow. So should the worst happen and non-payment occurs credit insurance will replace the cash, safeguarding the future of the company.
A credit insurance policy covers the unpaid credit balance from sales made to your customers. Whether you choose to protect your domestic or export business, you are able to minimize the risks associated with customer's insolvency or delayed payment. Credit insurance from Coface is a comprehensive approach to receivables management, combining credit information, protection and collections. Insuring your receivables ensures your business will be around tomorrow.
Coface Global Solutions (CGS) provides large multinational clients with a dedicated international team to develop bespoke credit risk solutions for management and protection.
Clients also receive access to our global database with information on 65 million debtors, our 350 specialised risk underwriters covering each business sector and our renowned knowledge of country and sector risks.