Coface has announced a revamp of its credit insurance offering, aimed at mid-market businesses.
The insurer will rename its “flagship” policy TradeLiner as the firm looks to update and modernise the coverage.
The key characteristics of the coverage are “simplicity and flexibility,” the company said in a statement and Patrice Luscan, group marketing and strategy director for Coface, explained that the update gives clients greater choice.
“Following EasyLiner, which launched in 2014 and targets the SME sector
, TradeLiner offers midcaps a solution to meet their requirements and expectations in terms of flexibility, an extensive range of options and the reactivity necessary in today’s business environment,” Luscan said.
The “modernised" coverage will soon offer companies in 98 countries across the globe access to comprehensive coverage to protect business activities concerning insolvency or late payment from buyers, prevention of non-payment, collection of unpaid invoices and indemnification if a collection fails or takes longer than anticipated.
Coface also announced one of TradeLiner’s “most valuable and exclusive features,” will be the ability to shorten the indemnification time businesses face if they encounter cash-flow problems related to unpaid debts.
“In addition to a commitment to quality and transparency for companies who sell their goods or services on credit in what is still a challenging economic climate, Coface has added a crucial cornerstone to its new segmented and global product offer, as part of its strategy of innovation that began three years ago”, Luscan continued.