Coface Sucks Customer Reviews and Feedback
Compagnie Française d'Assurance pour le Commerce Extérieur (Coface) is a credit insurer operating globally, offering companies solutions to protect them against the risk of financial default of their clients, both in their domestic and export market. In complement to credit insurance, Coface also offers debt collection services, factoring and business information, and bonds.
A former Account Executive from Watford, Hertfordshire stated that Compagnie Française d'Assurance pour le Commerce Extérieur is Not a nice place to work in a review he wrote for INDEED: Overworked, not enough staff, salary ok but no annual increase. You had to ask for one. Management awful. People leaving all the time. Alot of trainees as permanent staff leave after a short time. Temps to permanent placements. Alot of back stabbing.
Inside Sales Rep (Former Employee) says"Management is always hiring and firing. Firings take place every month. Just as someone else wrote, you are hired to be fired. They just want you to open up a few new clients and they will keep the business for themselves after they fire you. Once you get fired, you do not get any commissions from the business you wrote (some companies still pay you). They have no respect and loyalty to anyone. You cannot even take one day off without getting threatened. It is a very unhealthy work environment. Some reps just quit because it is such a unhealthy place to work. There is no quota relief. Your quota goes up every month. If you have two or three consecutive poor months, you are fired. It does not matter how successful you were in the past or how many times you did hit your quota. It is a "What have you done lately?" place. They fired some very talented and successful reps just because they were going through a slump. To give credit where it is due, you work from 8 to 5 everyday. You are never required to work overtime. You are eligible for full benefits (medical, dental and vision) after you complete 90 days. You will be fortunate to survive six months here. A year? Forget it. There is a saying "To survive a year here is the equivalent of surviving a day in the Holocaust".8-5, No OvertimeVery Strict, Very Stressful, Firings Every Month, Unhealthy Environment"
Regional Sales Executive (Former Employee) says"This company said that if I followed the plan that I would be successful. Well, I followed the plan and was not successful. I had to sell prospects on the idea of credit insurance THEN had to sell the deal to underwriting. NO GO.NoneEverything"
Telemarketer (Former Employee) says"This review is for Altus Global Trade solutions, which is a sub-division of Coface. At one point, it was fully part of the Coface family, but was diverted into its own business. The turnover rate for Altus is amazingly high. This company is the perfect example of "churn and burn". Most employees do not last past 4 months...and if they do, they're gone by the 7th. You are constantly calling the same dead leads, over and over again, until someone agrees to purchase the debt collection services that you are selling. The position is described as a "Business Development" opportunity. In reality, you are a glorified telemarketer.Absolutely none.Horrible management, horrible pay, expensive benefits."
Inside Sales Rep (Former Employee) says"Must have between 4 to 5 hours of talk time per day (impossible). Must make between 120 to 150 calls per day. Leads are old and stale. Cold calling. Management will grind on employees all day long.There is no residuals from clients you have signed up, only paid commissions on new business. They go through 50 to 75 people a year.The bottom line is you are hired to be fired. All they want is for you to bring in a few new clients and they will take the continuing business from that cleint for themselves after they fire you.8 to 5, no weekendsno mingling, strict, boot camp, no benefits, firings every month"
San Francisco Business Development Manager (Former Employee) says"Most of those that were at the same time I was hired by L.B. Spurrier the California captive agency representing Coface have moved on to other career moves. That should have been my first clue. Coface is going through some painful changes as it now public and no longer subsidized by the French government. Should be interesting if they keep the same business model or develop a direct model. It seems most agents did not TRUST management.decent draw salaryIsolated Representation, Not sincere on promises made."
collector (Former Employee) says"unqualified mgrs who would do not know commercial collections crtiteria and have poor communication skills"
Account Representative (Former Employee) says"Turn over EXCEPTIONALLY HIGH. Total boiler room. When I was there the police had to be called because the manager threatened to kill a sales rep and his family. This happened because the manager thought the employee reported him for smoking weed on the job. This is not a joke. Couldn't have made this up. Better to work at Burger King"
Manager of Enhanced Information Center (Former Employee) says"The company has no training to help employees to obtain new skills. There is no career path for the entry level people. There are many people there 20 years+. Don't be fooled the are not ambitious or motivated and many are over paid from a poor performance review system from the past. Many of the new people come in and leave within 9 to 14 months."
Business Development Executive (Former Employee) says"Lack of strong leadership. Across the board, it seems like as long as the numbers are where they need to be, management doesn't really care about your happiness, ethics, or you as a person in general. Very shady behavior from many, many people; everything gets brushed under the rug, though. Nobody really listens. The hardest workers get the most work, yet get nothing in return, while the slackers and suck ups get all"
Employee (Former Employee) says"All the employees always pushed their work to someone else's desk and very little room for growth. Constant meetings about the problems that keep coming up but are never solved. Initiative was not taken to resolve what was causing the problems, just a quick fix would satisfy management."
Sr. Account Executive (Former Employee) says"fast paced, 120 calls out going is expected with 4 hours of phone time.never workded past four o'clockshort breaks"
Head of Global Account Management North America (Current Employee) says"-hours are demanding but not unreasonable -good location for central NJ -typical day means managing a lot of competing priorities -adequate management -nice co-workers -best part is there is always a new project to work on -worst part is having so many people to keep happy"
Collections Agent (Former Employee) says"I worked for this company for about 3 years, and for the first 2 years, all was good. However, the last year that I was there, things started going downhill...loss of contracts, which meant layoffs. Plus, their turnover rates were REALLY high & they would lay people off if they did not reach their quota for the month if it occurred for 2 months or so.Benefits/Salary/Paid time offHIGH turn over rate/Poor Management in certain Dept"
Insolvency Officer/ Bankruptcy Claims (Former Employee) says"My typical day was to talk with 70 individuals about their customer service and administrative needs. I would send e - mails, talk on the phone, fax , mail or take care of daily tasks.Nice people to work with.laid off"
David C says"Last year I invested £7,000 on the loan to a company name 'Prospect Business Centres' the total loan amount of the loan is £500,000 and the company went busted in January 2020. The Administrator sold the company and got only £100000,more than £60000 went to the other creditors, the Archover investors only got £33,400 as their shares of the debts owed by the borrower so with my investment of £7,000 I only got paid back £152 plus the £689 from the paid interest as a result, I have totally lost £6,159. What I am trying to say is that Archover claimed they have the borrower assets secure to the loan and the value of the borrower's asset would be enough to pay off the debts if the borrower was to go busted, it proved that that is absolutely untrue. I have now learned a lesson and here to warn those who are considering to invest through Archover to think again. Wing Chan"
George Sin says"Have invested into a company "Ventalution" and I somehow have chosen a company which has default and has gone bankrupt? Not a safe investment. I am spending my time chasing for recovery just to have my investment back (i.e. to break even)? Would have done better just to put my money in the ground. Deeply disappointed with Archover."
Angela Mason says"EXIM was described as secured and insured but it turned out to be a fraud. How can Archover have been so complacent with such a big customer to allow this to happen? Surely this amounts to negligence especially as they are part of the insurance group Hampden?"
Howard Piper says"EXIM FRAUD As an ex-banker with hands on Trade Finance experience myself I was horrified to find that Archover's probably longest standing borrower for trade finance, secured and insured [apparently not], Exim, had been defrauding them (us) for x years. After numerous exchanges with their management I came away convinced that they are not in-dept, experienced or competent lenders with all that entails, including actually monitoring a facility competently after 'selling' it; they - we - got turned over very badly under their noses. Let's hope the supposed support of the Hampden Group is relevant to recovery, although I wonder if that's where the Exim relationship came from in the first place? They didn't want to speak to me! I can take a loss but not everyone is well diversified; no more P2P here for me or anyone I know."
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In The News
GlobeNewswire reports"COFACE SA: First quarter shows solid operational performance but is impacted by the initial effects of the COVID-19 crisis"
Insurance Journal reports"Insurers Face Big Investment Losses, Trade Credit Claims from Coronavirus Crisis"
GlobeNewswire reports"COFACE SA: Fitch places Coface on Rating Watch Negative"
Fitch Ratings reports"Fitch Maintains Coface on Rating Watch Negative"