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.
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
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
Build
Build rules in Excel—any format, any level of complexity
Tag
Tag inputs (such as broker blacklists, adverse media, OFAC sanctions list, etc.) and corresponding outputs
Upload
Upload your model to Spark
Return
Return responses
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.
Ready to get started with Coherent Spark now? Visit our marketplace listings with AWS or Microsoft to get access immediately. Snowflake listing coming soon!
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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