Coherent's Spark solution stands out by transforming the business logic in traditional spreadsheets into easy-to-use APIs, allowing insurers to launch products faster. Integrated with Insurity’s modern product suite, this technology facilitates seamless migrations from legacy systems, enhances processing speeds, and significantly reduces costs.

The partnership directly addresses the critical challenge of rating and rules externalization and provides a holistic solution that covers the complete workflow for carriers and intermediaries. By reducing dependency on outdated systems, Insurity and Coherent enable insurers to manage diverse risks and customizations more effectively.

Key benefits of this collaboration include transforming insurance operations through the integration of spreadsheet APIs, leading to a reduction in time-to-market and development costs. This results in an 89% faster product deployment and provides a comprehensive approach to managing carrier and intermediary workflows without needing third-party development or coding. Previous deployments of Coherent’s platform have brought considerable benefits to insurers, including a saving of $740,000 from a single deployment and a 75-fold acceleration in runtime.

"Coherent is thrilled to partner with Insurity and empower hundreds of P&C insurers to overcome the challenges of legacy systems and launch new products quickly,” said John Brisco, CEO at Coherent. “Our platform's ability to unlock business logic and seamlessly integrate with Insurity’s systems is just one example of how we simplify complexities for insurers at scale. Together, we’re delivering a powerful solution that reduces deployment times and operational costs and significantly enhances market responsiveness."

“This partnership with Coherent will help our customers launch products faster by unlocking the business logic in spreadsheets into easy-to-use APIs," said Sylvester Mathis, Chief Insurance Officer at Insurity. "Coherent's technology compiles the logic within spreadsheets and generates an API, integrating effortlessly with Insurity's systems to simplify operations and boost responsiveness in the market."