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Unqork + Coherent creates improved P&L for P&C

Rapidly launch new products, efficiently rate risk, and swiftly attract new policyholders

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Rapidly launch new products, efficiently rate risk, and swiftly attract new policyholders with the joint capabilities of Unqork’s no-code application building solution and Coherent’s business logic platform, Coherent Spark.

Dependence on inflexible and disconnected legacy systems makes it extremely time-consuming for carriers to launch new products (often taking 18–24 months) and to update existing products. Too often, underwriters must work across multiple disparate systems, which leads to high error rates, slow quote turnaround times, and a lack of visibility. Outdated underwriting solutions leave customers and brokers with a poor customer experience and detract from an underwriter’s core value: to identify, structure, price, and negotiate the best policies.

With Unqork’s P&C Product Launcher, carriers can develop, test, and launch customized products in as little as 12 weeks using Unqork’s enterprise no-code platform. Moreover, once the platform is launched, critical repricing, calculation, or assumption changes can be made in a matter of hours. The Launcher transforms and accelerates your underwriting process from intake to bind by combining a product manager, broker/customer portal, and underwriter workbench in one integrated platform. Coherent is a core integration partner, and the Coherent Spark platform further enables carriers to rate risk effectively and ensure accurate, competitive pricing for customers. Coherent Spark can integrate the most complex P&C underwriting and rating models from home and auto, to complex commercial, liability, and specialty lines.

With Coherent Spark’s robust testing and simulation capabilities in the Testing Center, clients can gain confidence in driving efficient underwriting outcomes. Coherent Spark’s connection capabilities to Unqork’s no-code platform represent value-add clients can’t get anywhere else. To date, Unqork and Coherent’s shared clients have run more than 1,000,000 test cases combined.