CoFACE FOR SAFER TRADE
C
oface UK helps businesses of all sizes protect their domestic and overseas trade through its credit management services: credit insurance, risk assessments and information, and collections. Its latest policy, SafeTrader, is available online to SMEs who want to protect their domestic and overseas sales. Present in the UK for 20 years, Coface UK is part of the Coface Group, a worldwide leader in credit insurance with a presence in 67 countries. The company prides itself on its product innovation and customer service. In 2014, it won the title Credit Insurer of the Year at the Institute of Credit Management’s British Credit Awards and in its latest customer satisfaction survey, 90% of its clients said they were satisfied with the service they had received from Coface in the UK. Coface UK’s portfolio of credit management products and services enables clients to evaluate their trading risks effectively, access new market opportunities with confidence and protects themselves from the damaging consequences of payment default. These include: Credit insurance policies: Coface has developed a range of credit insurance solutions to meet the needs of different businesses and trading challenges. For SMEs A new online policy for small businesses, Safe Trader allows companies with a turnover up to £3m to obtain a quotation and contract in a few clicks. For an annual, all-inclusive price, Safe Trader covers both domestic and overseas sales and includes information about the financial health of customers, credit insurance and collection of unpaid invoices. For more information, visit www.safetrader.uk.com For SMEs with a turnover up to £10m Premier Trader provides straightforward credit protection on domestic and
044_TB40_cofaceADVERTORIAL.indd 29
overseas sales at a fixed premium. It’s a policy that helps SMEs to continue to grow securely. For medium-sized enterprises Open Trader is a whole-turnover policy for companies with turnover between £10 and £100million. It offers protection from non-payment for domestic and overseas sales and debt collection. For multinationals Coface Global Solutions provides multicountry trade risk cover for multinational clients and includes Dashboard, a management tool which provides detailed analysis of credit risks. For strategically important customers Tailored credit insurance is available for companies seeking protection against insolvency or non-payment by key customers. With Coface’s Single Buyer Policy and Top Trader, policy-holders pay only for the cover they need. Meanwhile Top Liner enables companies with a standard Coface contract to obtain supplementary cover for specific short-term risks. For specific risks Coface has a dedicated team which focuses on political and commercial risks. They can arrange tailored single risk cover, including political risk, import, financing and investment guarantees. Credit management tools: All Coface clients have access to Cofanet, an online policy and credit management tool which allows them to apply for credit limits on new customers; monitor and adjust existing limits; view a real-time snapshot of the distribution of credit risk in their portfolio; and send messages directly to our underwriting department.
suppliers worldwide; credit reports; and customised credit opinions which evaluate the risk of default when extending a specific amount of credit. Country and sector risk assessments: Coface regularly produces reports by experienced economists about global trading risks and the trading situation in different countries which are published on its website. It also regularly a ssesses the risks and prospects for different industry sectors, from construction to retail. Uniquely within the industry, Coface UK holds an annual Country Risk Conference which brings together economists, policy experts, researchers and business leaders to review global economic trends and assess international trading opportunities and risks. Debt recovery: Coface has an in-house collections team who are multi-lingual and trained and experienced in debt collection in the UK and overseas. Coface’s international network means it can efficiently investigate debtor assets and secure payment more quickly. Finally, the acid test of any credit insurance provider is how efficiently it meets the needs of customers. Coface turns around over 80% of credit limit decisions within two days and over 70% of decisions are made within one day. By reducing claims documentation requirements and streamlining its internal processes Coface is able to pay successful claims of up to £5,000 within five days while all domestic and overseas claims are paid within 30 days.
For more information about Coface UK, call 01923 478111 or visit www.cofaceuk.com
Credit reports and opinions: Coface tracks the trading behaviour of over 66 million companies throughout the world. It provides detailed business reports so companies can assess potential new customers, partners and
23/12/2014 09:21