AI Insurance & Coherent Spark Join Forces to Streamline Program Pricing
The insurance industry often faces lengthy delays in launching new commercial and specialty insurance programs due to complex pricing models and the manual conversion of spreadsheet-based rate logic into functional rating engines. AI Insurance, a cloud platform for commercial insurance, has partnered with Coherent Spark, a firm specializing in Excel automation and API services, to address this challenge by introducing a more automated, efficient approach.
Tackling Slow Program Launches
A New Standard for Speed and Automation
Through the integration, Coherent Spark automates the conversion of Excel-based pricing logic into APIs, which AI Insurance incorporates seamlessly into its cloud-native platform. This eliminates the need for extensive custom coding and development traditionally required for program launches. As a result, the time to deploy new insurance product pricing has been drastically reduced from around twelve months to just four weeks.
Empowering MGAs with Agility
This accelerated process provides MGAs and insurance program administrators with increased agility. They can now update pricing components and adjust underwriting criteria more frequently without undergoing lengthy development efforts. This speed allows market-facing teams to react promptly to evolving market conditions, regulatory changes, and competitive pressures, ensuring programs remain relevant and profitable.
The Future of Insurance Program Delivery
The AI Insurance and Coherent Spark partnership exemplifies the move towards intelligent automation within insurance operations. By leveraging cloud capabilities and automated API-driven workflows, the industry can move beyond legacy systems and manual processes. This progression supports ongoing digital transformation, equipping insurers with scalable, agile platforms that reduce operational friction and deliver faster time-to-market advantages.
As the insurance sector increasingly adopts technology-driven solutions, partnerships like this will likely set new benchmarks for efficiency and innovation in program management.
