Martin & Company, a leading provider of insurance technology solutions and consulting services for MGAs and carriers, has partnered with the American Association of Insurance Services (AAIS) to provide its Members with Rating-as-a-Service for all AAIS insurance products.
Martin & Company’s Rating-as-a-Service, powered by Coherent Spark, leverages AAIS’s Speed to Market Toolkit (S2M), which aims to help AAIS Member companies add new or update existing products in their business systems.
With Rating-as-a-Service, AAIS Members will be able to directly implement products via an Application Programming Interface (API). The API will provide the most current rating logic, which reduces—and in some cases, eliminates—development, testing, and deployment time. Members who adopt Rating-as-a-Service may save hundreds of thousands of dollars in costs while staying current with the marketplace.
“We’re proud to partner with a gold-standard organization like AAIS,” said Matt Heilmann, Vice President of Business Development at Martin & Company. “We know how critical speed to market is, and we’re excited to be able to help AAIS Members drastically reduce the time it takes them to bring a product to market with Rating-as-a-Service.”
“AAIS is excited to see the innovative approach that Martin & Company and Coherent Spark have built,” said Sheila Morris, Director of Product Operations at AAIS. “Their solution allows an AAIS Member company to be ‘in charge of’ updating their policy administration system without waiting in a queue for implementation of filed and approved rating information or policy calculation. We look forward to supporting their efforts by leveraging the AAIS Speed to Market Toolkit.”