Coface Bulgaria received an award for "Innovative products"
On December 1, 2011 in the ballroom "Sofia" in residence "Terra Group," at an official ceremony "Society Loyalty" presented its annual business awards. Coface Bulgaria was awarded thanks to its credit insurance in the category "Innovative products". For the fourth year in 5 categories successful business practices used by companies on the Bulgarian market were awarded on a ceremony, organized and hosted by "Brain Storm Consult" LTD. The nominees were determined by previous year's winners in the different categories and winners were selected by a specific set of criteria by a special jury, which included representatives of business in the country. Coface Bulgaria was nominated for the prize by "Higher School of Insurance and Finance."
"It's an honor for us to be awarded precisely in the category "Innovative products" thanks to credit insurance of Coface", said Georgi Lilyanov, CEO of Coface Bulgaria, during the ceremony. "In times of market uncertainty and economic slowdown, we believe that it is the insurance of Coface the tool that can help companies make the right decisions and develop their business."
Credit insurance of Coface insures trade receivables of companies, in both domestic and foreign markets, against the risk of default due to insolvency of their customers or payment delays due to economic or political reasons. It enables companies to optimize their risk management, to ensure the sales on domestic and foreign markets and to expand their business. The Insurance is aimed at companies of all economic sectors trading by using differed payment and want to protect their business from payment delays and default. The insurance coverage offers integrated services, including risk analysis of the company, debt collection services and compensations in case of insolvency and protracted defaults of its contractors.
During the event, the initiators of "Society of loyalty " also provided scholarships and internships programs. The main purpose of the annual business awards is to acknowledge companies that have made a special contribution to the development of business relations in Bulgaria in the last year - awardes, best practices, innovative products, community success, participation in social projects. The event was organized just one month after the establishment of the "Society of loyalty ", and was initiated by "Brain Storm Consult ". The organization was supported by the Ministry of Education and Science, and aims at realization of direct and fruitful dialogue between business and education in the country.
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