Insurer Coface is set to launch its digital trade credit risk management platform across the entire Nordics region, after initially going live in Denmark and Norway.

A rollout in Sweden and Finland will follow in the coming months, Coface says.

In a soft launch in May, the product was also offered to corporate clients in France and Germany, ahead of renewals season in the insurance sector.

The platform – called Alyx – is designed to help Coface policyholders “automate and centralise their credit risk management from lead to cash”, the firm says, and has been created in partnership with Dutch software provider CreditDevice.

The prebuilt solution takes a client’s accounting data, including open and historical accounts receivable data and commercial limits for insured and non-insured buyers, and integrates it to a central location.

Users can see a real-time overview of risks, outstanding amounts and upcoming due dates, as well as manage credit limits and overdue payments, Coface says.

“Alyx is a good illustration of our willingness to integrate our services directly into our clients’ environment and thus differentiate ourselves with easy-to-use services,” says Thibault Surer, director of strategy and development for the Coface Group.

Speaking to GTR, Coface’s global head of digital partnerships Theo van der Ha says the platform is intended to save clients time and effort when managing trade credit insurance.

“Clients could build a connection between the Coface environment and their accounting software themselves, so that there is an automation between the two systems, but this is complex. Clients do not always have the budget, the time or the resources to do so,” van der Ha explains.

“With Alyx, a client only needs to install some software. Then, all the data from the accounting software and all the data from the Coface environment are linked together in one tool.”

The insurer’s business information products can also be integrated into Alyx, van der Ha says, and in future, Coface plans to consider linking Alyx to financial clients as well.