Global technology and management consultancy Capco has signed a new digital solutions partnership with Asia- and US-based insuretech Coherent.
The partnership will bring together Capco’s consulting skills and domain knowledge with Coherent’s core technology and platform suite to deliver new digital solutions.
Under the terms of the deal, Capco and Coherent will provide technology solutions and strategic planning to joint clients within insurance and banking.
A key feature of the joint offering will be Coherent Spark, Coherent’s cloud-based logic engine that converts complex spreadsheet logic into API services in seconds.
The two companies believe that Coherent Spark has the potential to 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.
John Brisco, CEO and co-founder of Coherent, said: “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.”
Through the partnership, Coherent also aims to discover new applications for its core technology and platforms with a wider range of clients, developing the offering and expanding its footprint into new sectors.
Matt Hutchins, global insurance lead at Capco, said: “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 organisations.
“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 digitalisation initiatives.”