Insurance Solutions
Coherent has a superpower to transform your business, starting with a single cell. By converting spreadsheets into APIs, you can experience the rapid flexibility and scalability you need, elevate your governance and control, and enhance customer experience through your existing assets. You can have your spreadsheets and control them, too.Â
Modernizing EUC
Coherent is in the business of transforming businesses, and for financial services, Coherent Spark can:
Manage any model as a connected cloud service
Accelerate time to market for new products
Improve precision in pricing models
Transform legacy processesÂ
Deploy in cloud or on-prem
Reduce costs and raise ROI Â
Build enterprise-scale scenario testing
Reduce risk and enhance compliance
Implement stronger control & governanceÂ
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Convert challenges into opportunities
Spreadsheets are prevalent across the insurance industry but are also the largest unchecked surface of IP that exist within many organizations. While useful, spreadsheets as they exist today weigh down your operational agility and create risk. But with Coherent Spark, you can take your spreadsheet experience:
Slower time to market due to complex pricing models
Sluggish Excel processing times
Lack of control
Feeling the need to replace spreadsheets
Frequent breaking
Data silos
Rapid-speed calculations so you can adjust to distributor or market changes
1,000x the Excel logic speed
Version control and execution run logs
Improving upon existing technologies
Accuracy at scale
Centralized intelligence
Solutions For Every Application
Even the most complex spreadsheets can be reined in with Coherent Spark. Below is just a sampling of how Spark can bring positive impact across the insurance sector.
Life & Annuities
New business product illustration
In-force product illustrations
Back office actuarial calculations
Policy administration conversions
Closed block and reinsurance treaty calculations
Operational annuitization calculations
Property & Casualty
Specialty insurance raters
Re-rating and re-pricing books of business
New risk raters
Data modeling and sensitivity testing
Reserve opinions
Retirement
Defined contribution pricing
401K
Lifetime income algo
Plan benchmarking tool
ERISA compliance testing
Daily valuation stable value engine
Ready to see how Coherent Spark can work for you?
You can convert your first spreadsheet now by booking a demo with one of our Spark experts.
