Property & Casualty Insurance

Whatever Excel-based processes you have, Coherent Spark can improve your speed and efficiency with an innovative way to achieve results in moments, not months. It works by converting your business logic from Excel to a secure application programming interface (API)—which is then readily available to your systems, partners, and distributors.

Real Estate Agent Working On Laptop

Leading P&C carriers and managing general agents use Spark several ways:

Product launch accelerator

Rate calculations and simulation

Clearance rate simulation

Claims and fraud simulation

Re-insurance and 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.

Faster Clearance, Faster Decisioning

Coherent Spark can be used to accelerate the clearance process for commercial insurers. By automating the clearance-related rules and logic you currently maintain in Excel, you can enable your business to grow capacity and build more sophisticated models based on your risk appetite.

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.

How it works: All you need to know is Excel

Step 1

Build

Build rules in Excel—any format, any level of complexity

Step 2

Tag

Tag inputs (such as broker blacklists, adverse media, OFAC sanctions list, etc.) and corresponding outputs

Step 3

Upload

Upload your model to Spark

Step 4

Return

Return responses

Step 5

Analyze

Analyze the output at scale

Better, Faster Decisions

Success with Spark starts with higher throughput than today’s clearance process—but it doesn’t end there. With Spark’s Testing Center, you can perform data analysis at scale. This combination empowers you to make smart moves to achieve business objectives. Create value, scale faster, and tune your risk models. It all comes down to better, faster decisioning. Because if you can run faster, you can transform your business.

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.
Request a demo
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.
Request a demo
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.
Request a demo
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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