COFANET is an online tool for working with an insurance contract. In COFANET a policyholder can watch the process of setting credit limits by the Insurer and trace history of their changes. In addition, policyholders can make online requests for new credit limits or for changing the ones approved earlier. COFANET is a reliable, easy to use and accessible at any time system.
Advantages of COFANET:
Instant company search (information on more than 60 million companies around the world) Instant update of credit limit information Opportunity to put comments for analysts while making a request Free access for policyholders Data can be easily exported (including scheduled automated export) for using in accounting systems Automatic credit limit notifications to user’s via E-mail Multiuser interface, different levels of access for users Multilanguage interface Underwriter’s comments to every refusal/reduction/cancellation decision
Apart from credit limit information, COFANET users know their buyers’ creditworthiness presented as a rating score – a unique and unified assessment of corporate default risk based on a 10-grade scale. The score shows the buyer’s ability to pay its creditors for the next 12 months regardless of an industry sector or a country.
Probability of default varies from «0» (the company is close to bankruptcy) to «10» (a very reliable buyer). Such information enables to compare reliability of buyers in one portfolio and have an idea of how risks spread and evolve in the portfolio in general and within particular buyers groups.
