Insurity, the leading provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, announced the launch of Insurity Spreadsheet API, a solution designed to help insurance organizations launch new insurance products faster by transforming the business logic in spreadsheets into easy-to-use APIs. This highlights Insurity’s commitment to providing innovative solutions that meet the evolving challenges of the insurance market.
Insurity Spreadsheet API, developed in partnership with Coherent, enables insurers to convert complex spreadsheet logic into streamlined, reusable APIs. This notably enhances product deployment speed, cutting the time to launch new products from months to just 30 days or less. Additionally, the product offers an impressive 75x faster runtime, allowing insurers to handle tasks quickly and efficiently.
Insurity Spreadsheet API significantly improves operational efficiency and cost-effectiveness by accelerating time to revenue by transforming spreadsheet workflows into reusable APIs and reduces product development costs by 83% on average. The API streamlines compliance management by centralizing risk governance and version control in a secure, cloud-based location. Additionally, it maximizes business logic management while leveraging advanced cloud performance, supporting multiple version inputs, and enabling historical comparisons. Insurity Spreadsheet API allows for confident strategy validation through user-defined bulk case generation and process visualization with version comparison charts.
“Partnering with Insurity and embedding Coherent software into Insurity’s industry leading insurance platform enables insurance professionals to bring new products to market in an accelerated, cost effective, and innovative manner,” said John Brisco, Coherent Co-Founder and CEO.
“Insurity Spreadsheet API represents a significant leap forward for insurers looking to modernize their operations,” said Chris Lafond, Chief Executive Officer at Insurity. “By converting business logic from spreadsheets into APIs, our solution not only accelerates product launches but also reduces development costs by hundreds of thousands of dollars. This integration will drive greater efficiency and agility in day-to-day operations, allowing insurers to stay ahead of the competition.”
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