Collateral beauty could refer to the beauty on the inside. It can refer to the hidden beauty in something that can't be seen directly.
The term collateral beauty could also be used to describe the meaning behind something. For example, when something bad happens to a person, they might want to check for the collateral beauty or the hidden meaning behind the event, which could a beautiful thing.
The words collateral beauty could be used to refer to the bright side of something. During an unfortunate event, a person could look for the collateral beauty or the bright side of the situation.
In the movie Collateral Beauty starring Will Smith, the words referred to the acts of selfless kindness that results from tragedies. According to the movie tragedies can change people and make them kinder since they will develop more empathy for those who suffer.
In the movie Collateral Beauty, the words referred to the meaning behind death, heartbreaks and tragedies in general. Collateral beauty in such a case referred to the good hidden meaning behind a serious tragedy. See Collateral Beauty movie explained.
The term collateral beauty could also refer to the hidden bliss behind something. A good thing can happen but might seem to someone that as a bad thing. Because the bliss was disguised as a bad thing, the person should look for the collateral beauty.
The term collateral beauty could also refer to personality since personality is a hidden thing and can't be seen directly by the eye.
Collateral beauty could refer to the good lesson learned from a certain bad event. In the movie Collateral Beauty, the word also referred to the good things a person can come up with after experiencing pain.