French trade credit insurer Coface is stepping up its game by transforming into a provider of business intelligence tailored for today's complex economic challenges, often referred to as the "polycrisis." This shift aims to help businesses navigate an increasingly unpredictable landscape marked by various crises, including economic, political, and environmental factors.
Coface is utilizing advanced data analytics to predict potential corporate failures more effectively. By leveraging a wealth of information, the company can offer insights that go beyond traditional insurance coverage, acting as a proactive guide for businesses looking to mitigate risks.
With this new focus, Coface aims to empower companies with timely intelligence that can inform their decision-making processes. This means businesses can not only protect themselves against insolvencies but also make smarter strategic choices in uncertain times. The intelligence offered could help identify reliable partners and manage supply chain risks, which are crucial for resilience.
This approach is especially relevant for SMEs (small and medium-sized enterprises) that may lack the resources to conduct extensive market analyses on their own. By providing more accessible data, Coface can help smaller businesses compete on a more level playing field.
Overall, Coface's initiative highlights a growing trend in the insurance industry to adapt to changing market needs by focusing on data and analytics. As businesses navigate this era of uncertainty, tools that provide foresight could prove invaluable.
Original Source: https://www.ft.com/content/c33d04fc-01cb-4a4c-88a8-e2d7056dd0c9