Alliance combines Capco’s consulting expertise and domain knowledge with Coherent’s core technology and platforms to deliver innovative new solutions
LONDON, October 21, 2021 - Capco, the global technology and management consultancy, and Coherent, the Asia and US based insurtech, today announced a new partnership to provide innovative technology solutions and strategic planning to joint clients within insurance and banking. The partnership will leverage Capco’s deep domain knowledge, strong client relationships, and post-implementation capabilities to deliver transformational solutions using Coherent’s core technology and suite of platforms.
A key pillar of this joint offering is Coherent Spark, Coherent’s cloud-based logic engine that converts complex spreadsheet logic into API services in seconds. This game-changing technology has the potential to solve significant pain points that insurance and banking clients are looking to address, like high operational costs, slow product development and lack of controls in product management. Through this partnership, Coherent will discover new and compelling 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 organizations. 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.”
John Brisco, CEO & Co-founder at Coherent, said:
“By partnering with Capco, we are expanding our capability to deliver transformational solutions to insurers and banks at scale. 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.”
Capco, a Wipro company, is a global technology and management consultancy specializing in driving digital transformation in the financial services industry. With a growing client portfolio comprising of over 100 global organizations, Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector. Capco’s cutting-edge ingenuity is brought to life through its Innovation Labs, and award-winning Be Yourself At Work culture and diverse talent. To learn more, visit www.capco.com or follow us on Twitter, Facebook, YouTube, LinkedIn Instagram, and Xing.
Coherent Group is a global insurtech company with the mission to create world-class digital platforms and data intelligence engines that help insurers transform key stages in their business lifecycle including product development/rating, sales, customer acquisition and engagement, and policy management. Coherent employs more than 200 team members across global locations and collaborates with over 40 insurers across numerous geographical markets (including USA, Brazil, Japan, Hong Kong, Singapore, China and Southeast Asia). The company has investment backing from Cathay Innovation and Franklin Templeton, who led a $14M Series A round in late 2020. For more information please visit: https://www.coherent.global