Coface North America
www.coface-usa.com
1035 W. Lake St., Ste. 201
Chicago, IL 60607
Contact: Dan O’Connor
Phone: (312) 382-7080
FAX: (312) 243-9677
dan_o’connor@coface-usa.com
Percent of business in Illinois by line:
Commercial: 100%
Premium Volume: 4,700,850
Are you currently appointing new agents? Yes, We are offering the opportunity for agents and brokers to partner with us to sell domestic and export accounts receivable insurance, which is a growing business line in the US.
What type of agency is your company looking for? We are looking for commercial agencies that want to grow their business by offering products and services to help companies better manage their accounts receivable. These unique products will extend an agency’s offering to their existing clients and also help it attract new customers. Accounts receivable insurance is beneficial to manufacturers, distributors and service firms that sell on open credit terms.
What are your premium volume requirements? (In profit sharing? In life?) We do not limit agency relationships by premium volume but are open to all potential business opportunities.
Are you currently doing any niche-marketing program? We are active members of credit industry associations and international trade groups that are identified targets for accounts receivable insurance.
What is your company’s most aggressive line of business? We offer accounts receivable insurance, also known as trade credit insurance. In addition, we offer political risk coverage. Our policies help ensure that companies will be paid for merchandise or services delivered to their customers. Coverage can include export and domestic business. Each policy is subject to the terms and conditions of coverage and covers the unpaid credit balance from sales made to customers.
Do you use credit scoring? Yes. To ensure that our clients are selling to credit worthy customers, we track 50 million companies in 176 countries. From this data, we developed an easy-to-use rating system that lets companies keep a constant watch over the quality of their customers and suppliers.
What methods do you use to distribute your insurance products? We distribute through a network of agents and brokers.
What do you think makes your company different, or stand out from all the rest in Illinois? Why would an agent want to contract with your company? Rated AA by Fitch, AA- by S&P and Aa3 by Moody’s, Coface is a world leader in trade-credit information and protection, serving 85,000 clients in 93 countries. The Coface advantage:
Please list your Marketing Representatives and the territory they cover:
Dan O’Connor
Agent, Illinois Region
1035 W. Lake Street, Suite 201
Chicago, IL 60607
Ph: 312-382-7080 ext. 234
Fax: 312-243-9677
Do you plan on retaining your current profit sharing agreements? We offer compensation through commission-based rates.
Do you offer the ability for agents to integrate third-party reports into their comparative rating process? No
Do you offer single-entry new business upload from either comparative raters and/or management systems? No
Do you provide an agent facing website for your agent’s reference? Yes. We offer a web-based policy management system, Cofanet.
Do you offer the ability to quote and/or issue new business? No
Can your agents service in-force policies? Yes
Which lines? Accounts receivables insurance
Do you publish agent manuals and policy forms on-line? Yes – policy management information and marketing materials.
Do you support direct bill commission statement download? No
Do you support real time service for inquiry? Yes
Which lines? Accounts receivables insurance
Claims? Yes
Billing? Yes
Do you have real time endorsement capabilities? No
Do you support either Transformation Station, Transact Now or other technologies? No
Please outline the top 3 technology initiatives your company will be implementing to benefit agency workflows, and describe how these initiatives will benefit the agency.
1. ISO 9001 Certification to increase user satisfaction.
2. Data warehouse implementation to facilitate reporting.
3. Implementing a CRM tool to increase prospect efficiency.