BOISE, Idaho — January 8, 2020 — Clearwater® and Coface North America Insurance Company (Coface) announced today that Coface has selected Clearwater’s SaaS solution for investment data aggregation, reconciliation, accounting, and reporting.
Coface has been one of the world’s leading credit insurance companies for the last 70 years. Coface specializes in facilitating business-to-business trade, working with its customers to develop their operations both on their domestic markets and internationally. Whatever their size, nationality, or sector, Coface offers its customers innovative products that suit their needs and business strategy — from payment protection to information and debt collection services. Coface also keeps its customers up-to-date on current market conditions, leveraging their international business and risk management expertise, country and sector assessments and quality data on 80 million companies worldwide.
Clearwater will provide Coface with a complete, transparent, and up-to-date view of its investment portfolio. This increased insight will enable Coface to actively monitor its investments and analyze any changes in its portfolio. Clearwater will also provide complete asset class coverage to simplify and streamline accounting and regulatory reporting for Coface’s more complex assets.
“It’s important for us to have better visibility into our portfolio and to be able to drill down to specific details to understand where we stand with our numbers and have control over our investments,” said Gary Scharf, Director of Investments and Statutory Reporting. “We are impressed by Clearwater’s reporting capabilities and look forward to the advantages we will gain with Clearwater.”
“Coface understands the value of providing their own clients with in-depth reporting and analysis, something our two companies have in common. We look forward to working together to support Coface's growth and provide them with more actionable investment data, a faster and more efficient close process, and access to detailed analytics. We know these benefits will give them a strong footing as they look to the future,” said Scott Erickson, Chief Operating Officer at Clearwater Analytics.