Two international firms, technology and management consultancy Capco and insurance technology provider Coherent, have entered a partnership to provide strategic planning and technology to clients in the insurance and banking sectors in Asia.
The partnership will combine Capco’s domain knowledge, strong client relationships, and post-implementation capabilities and Coherent’s core technology and suite of platforms to serve clients in the rapidly growing financial industries in the region.
A key pillar of the joint offering is Coherent Spark, Coherent’s cloud-based logic engine that converts complex spreadsheet logic into application program interface services in seconds. This will help solve significant pain points that insurance and banking clients are looking to address, such as high operational costs, slow product development and lack of controls in product management, the companies said. Through this partnership, Coherent will be able to discover new applications for its core technology and platforms and reach a wider range of clients.
“Our new partnership with Coherent offers insurers and banks enhanced access to market-leading technology that can transform the management of complex business rules and logic within their organizations,” said James Arnett, APAC managing partner at Capco. “We are pleased to be working together to offer Coherent's customer-centric technology ecosystems and propositions to enhance the speed, agility and operational resilience of insurance systems as part of the industry's wider digitalization initiatives.”
“By partnering with Capco, we are expanding our capability to deliver transformational solutions to insurers and banks at scale,” said John Brisco, CEO and co-founder of Coherent. “This is an exciting opportunity for us, and we are looking forward to working in collaboration to deliver our market-leading technology, Coherent Spark, to a more diverse group of customers who can truly benefit from it.”
