Life Insurance & Annuities

Life insurance carriers and annuity manufacturers use Spark to keep their product offerings on the leading edge of the industry, where speed is a competitive advantage—especially in response to changing economic conditions.

Group of business persons during a meeting in the office

Life insurance carriers and annuity manufacturers use Spark several ways:

Investment-linked policy (ILP) product acceleration

Product management

product distribution

Distribution illustration and calculation

IFRS 17 and US GAAP LDTI modeling & control

Capital / valuation modeling

Excel-to-API Leads to ROI

Coherent Spark can dramatically accelerate underwriting, rating, issuance, claims—and any other process leveraging Excel-based logic such as rules, calculations, or data of any complexity. To see how Spark works for rating, check out our customer case study featuring a new rate plan launched 6x faster than the traditional process.

Re-price Products Fast

If you’re looking for a faster way to re-price your products in line with the rapidly rising 10-year US Treasury, you’re not alone. We know how hard business leaders and IT teams work to bring products to market. Our team of former industry executives and actuaries have built a solution for your entire product suite (every product, every version)—throughout the product lifecycle.

All you need to know is Excel

Step 1

Build

Build your products in Excel

Step 2

Tag

Tag your inputs and outputs in your Excel file

Step 3

Upload

Test and simulate changes to pricing or other variables

Step 4

Return

Spark generates application programming interfaces (APIs) for illustration tools or other platforms

Step 5

Analyze

Re-price products in real time

Faster Product Innovation

Success with Spark means rising to the challenge of a rising rate environment, or any moment when time is of the essence. Now your product and actuarial teams can manage pricing with speed and precision. Build, maintain, and go to market with your whole product catalog—using a no-code solution that’s as flexible as Excel, without coding in another programming language.

Get a head start on ESG compliance & reporting
Spark allows you to extract relevant information and update your ESG (Environment, Social and Governance) models easily on Excel.
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Boost control & governance within EUC
Spark’s strong audit capability for re-runs and data validation helps you manage EUC (End User Computing) business models and run extensive tests across different scenarios.
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Manage complex financial models directly from Excel
Spark empowers you to effectively control and manage your complex financial models on Excel with seamless and secure integration to your cloud systems.
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Manage risk models securely
Spark manages risk models securely on a central control environment to facilitate speedy model validations and reporting through strong audit and testing capabilities.
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Ready to get started with Coherent Spark now? Visit our marketplace listings with AWS or Microsoft to get access immediately. Snowflake listing coming soon!

Complete your ROI

Estimate you ROI with our Spark-powered calculator.
Answer a few simple questions to find out how Coherent Spark can transform your organization.

Your Results

Initial development effort saved
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Recurring development effort saved
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Testing development effort saved
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Business Analysis and Project Management effort saved
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Total effort saved
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Potential revenue uplift
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Uplift from reduced operational risk
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Ready to see how Coherent Spark can work for you?

Give us your spreadsheet logic of any complexity and we’ll show you how Coherent Spark can transform it into an API in seconds. Contact us today for a demo.

Get in touch to see the power of Coherent Spark for yourself

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