Property and Casualty
Deliver More with Less: The Power of Automation
We empower IT teams to do more with less. Technologists can focus on strategic initiatives rather than time-consuming customizations by automating product deployment. This increases capacity, paving the way for innovation and growth.
Tangible business value, blazingly fast
Turbocharge speed to market
P&C carrier reduced time to market for a new product from six months to 30 days.
Improve runtime performance
Specialty lines insurer experienced 75x faster execution than a high-performance rating engine.
Reduce development cost
Group Benefits Provider saved $740,000 in development costs on a single product deployment.
Streamline the product development lifecycle
Ensure product compliance requirements are met across the development life cycle.
Govern intellectual property risk and version control in one cloud-based location.
Manage secure authentication and access control to sensitive intellectual property.
Facilitate easy audits by saving and storing all versions of every model and related calculations in perpetuity.
Enable automation, version control, and pipelining of models using your current continuous integration continuous delivery (CICD) toolsets.
Spark tracks all versions as well as transaction details and underlying calculations. In the event of an inquiry the Spark audit trail has all the information you need.
Product launch accelerator
Rate calculations and simulation
Clearance rate simulation
Re-insurance and valuation modeling
Claims and fraud simulation
Say goodbye to costly customizations
By externalizing business logic and connecting via API to component systems, you can make time-consuming customizations a thing of the past. This unique approach enables IT teams to:
Mitigate the challenges between desired rating logic and various regulatory requirements.
Minimize the costly step of defining IP in each component
Reduce initial system implementation costs by approximately 20% - CAN WE SAY THIS? - how can we validate?
Improve system performance by XXX - how? Why does this matter?
Modernize architecture with improved flexibility - can we say this differently?
Eliminate technical complexity to unleash business innovation.
As the insurance industry evolves, it's time to think differently about owning software. At Coherent, we are more than a software solution. We are the partner for innovation, ready to deliver a future of increased efficiency, reduced costs, and enhanced agility.
You’ve modeled your risk appetite, your broker list (appointments), and blacklist– yet much of your clearance process remains manual, based on inputs and rules kept in spreadsheets. Triaging takes time. And faster clearance doesn’t always equate to better risk-rating decisioning.
What if you could automate the clearance process from start to finish—including testing on the backend? To get started, all your team needs is what they already have: a working knowledge of Microsoft Excel
Are you ready to unlock the full potential of your IT resources?
Learn more from our P&C technology experts.