CORE INSURANCE

Coherent Partners with Duck Creek Technologies to Offer Property and Casualty Carriers and MGAs a Path to Faster Policy Issuance

Coherent, Duck Creek Technologies | July 13, 2022 | Read time : 04 min

Coherent Partners with Duck Creek Technologies
Coherent, a global software as a service (SaaS) company fast becoming the ubiquitous standard for business logic, announced today that it has partnered with Duck Creek Technologies (Nasdaq: DCT), the intelligent solutions provider defining the future of property and casualty (P&C) insurance. With this partnership, the firms announce the integration of Coherent Spark with Duck Creek Policy.

Coherent Spark converts business logic, including rules, calculations, and data, from any Microsoft Excel file into an application programming interface (API), which can then connect to any application, including an insurer’s policy administration system. This new integration will empower customers with a uniform solution that enables them to retain rating workbooks and seamlessly pass Excel-based data into Duck Creek Policy to issue policies immediately.

“Our customers will benefit from the lightning-fast speed of Coherent Spark,” said Andy Yohn, Vice President, Product Management of Duck Creek Technologies.

“Our customers will benefit from the lightning-fast speed of Coherent Spark,” said Andy Yohn, Vice President, Product Management of Duck Creek Technologies. “There’s so much proprietary business logic that feeds into the process of issuing and administering insurance policies. Through this integration, P&C insurance carriers and MGAs will achieve faster speed to market, reduced development costs, and greater revenue potential.”

Coherent and Duck Creek Technologies will jointly pursue opportunities across the global P&C industry.

Todd Buchanan, CEO - USA at Coherent, stated, “We’re pleased to partner with Duck Creek Technologies to enable Excel-based logic to flow into Duck Creek Policy at the speed of Spark. What makes this partnership special is our mutual passion for accelerating even the most arduous business processes throughout the insurance lifecycle with innovative technology.”

Buchanan added, “As many of our customers are launching new products or looking to streamline existing ones, we’re going to serve that market with a new solution that can handle even the most complex models in seconds.”

To learn more about the integration of Coherent Spark with Duck Creek Policy, visit https://www.duckcreek.com/partner/coherent.

About Coherent
Coherent is a global software-as-a-service (SaaS) company redefining how business and IT teams build software together. Most companies run critical business operations on hundreds of spreadsheets. Additionally, they spend billions globally on IT budgets to recode the business logic inside spreadsheets to add connectivity to other applications, auditability, and cloud scalability. Coherent’s core technology, Spark, is a no-code SaaS platform that makes building business software as fast, approachable, and cost-effective as using Excel. Create your first application programming interface (API) from your existing Excel rules, formulas, and data models in minutes and make it available on the cloud to connect with any modern application. Then supercharge it by adding deep version control, automated testing, and parallel simulation capabilities. For more information, visit: https://www.coherent.global/.

About Duck Creek Technologies
Duck Creek Technologies (NASDAQ: DCT) is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

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The rise of Artificial Intelligence has brought in technology transformation in many industries. This presentation will show use cases in insurance that leverage the recent developments of AI. These use cases are being used across the entire insurance value chain. Artificial Intelligence is used here as a broad terminology that refers to the modeling methods, tools and platforms, applications, big data utilization, and the thought process for problem-solving in the field of Artificial Intelligence.

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