{"id":17352,"date":"2024-04-12T02:15:46","date_gmt":"2024-04-12T02:15:46","guid":{"rendered":"https:\/\/www.unqork.com\/?post_type=resources&p=17352"},"modified":"2024-05-23T15:02:27","modified_gmt":"2024-05-23T20:02:27","slug":"unqork-coherent-creates-improved-pl-for-pc","status":"publish","type":"resources","link":"https:\/\/www.unqork.com\/resource-center\/briefs\/unqork-coherent-creates-improved-p-l\/","title":{"rendered":"Unqork + Coherent creates improved P&L for P&C"},"content":{"rendered":"\n
\n
\n
<\/div>\n<\/div>\n<\/div><\/section>\n\n\n\n
\n
\n
Briefs<\/a><\/div>\n\n
\n < 1 <\/span> min read\n<\/div>\n\n\n

Unqork + Coherent creates improved P&L for P&C<\/h1><\/div>\n<\/div>\n<\/div><\/section>\n\n\n\n
\n
\n
\n

Rapidly launch new products, efficiently rate risk, and swiftly attract new policyholders with the joint capabilities of Unqork\u2019s no-code application building solution and Coherent\u2019s business logic platform, Coherent Spark.<\/em><\/p>\n\n\n\n

\n
\n\t
\n\t\t\t\t<\/span>\n\t\t\n\t\t\tDev Ops\t\t<\/span>\n\t\t\t<\/div>\n<\/div>\n\n\n\n

<\/p>\n\n\n

<\/svg><\/span><\/a><\/path><\/svg><\/span><\/a><\/path><\/svg><\/span><\/a><\/div>
<\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div><\/section>\n\n\n\n
\n
\n
\n

Dependence on inflexible and disconnected legacy systems makes it extremely time-consuming for carriers to launch new products (often taking 18\u201324 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 Outdated underwriting solutions leave customers and brokers with a poor customer experience and detract from an underwriter\u2019s core value: to identify, structure, price, and negotiate the best policies.<\/p>\n\n\n\n

With Unqork\u2019s P&C Product Launcher, carriers can develop, test, and launch customized products in as little as 12 weeks using Unqork\u2019s 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.<\/p>\n\n\n\n

With Coherent Spark\u2019s<\/a> robust testing and simulation capabilities in the Testing Center, clients can gain confidence in driving efficient underwriting outcomes. Coherent Spark\u2019s connection capabilities to Unqork\u2019s no-code platform represent value-add clients can\u2019t get anywhere else. To date, Unqork and Coherent\u2019s shared clients have run more than 1,000,000 test cases combined.<\/p>\n<\/div>\n<\/div>\n<\/div><\/section>\n\n\n\n