Euler Hermes/CRiskCo using AI to improve trade credit insurance, risk management
Trade credit insurer Euler Hermes and fintech credit risk analyzer CRiskCo have united to employ artificial intelligence (AI) to improve trade credit insurance and risk management.
Euler Hermes DigitalAgency (EHDA) cofounder Christophe Spoerry explains the goal.
“EHDA and CRiskCo are working together to evolve trade credit insurance and risk management, particularly at the transaction and single invoice cover levels. This has the potential to offer small-medium enterprises (SMEs) significantly more protection when doing business, by providing innovative, simple and affordable customer analyses.”
Single Invoice Cover was recently launched by EHDA to protect companies from non-payment on a transaction-by-transaction basis while optimizing supply chains and extending optimal credit terms to buyers. CRiskCo harvests and analyzes data to produce algorithms which can improve underwriting within Single Invoice Cover. The combination of prediction analytics and machine learning produces a credit score indicating the probability of business success or default.
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