Rating-as-a-Service solution helps AAIS Members streamline product updates and reduce costs.
PHILADELPHIA, Jan. 24, 2025 /PRNewswire-PRWeb/ -- 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."
About Martin & Company
Martin & Company is a specialized provider of consulting services, data, and technology to insurance carriers and MGAs. Martin's suite of products and services helps clients ensure compliance and improve performance throughout the insurance product lifecycle. For more information visit martincompanyus.com.
About AAIS
Established in 1936, AAIS serves the property & casualty insurance industry as the only national not-for-profit advisory organization governed by its Member insurance carriers. AAIS delivers high-quality advisory solutions, including best-in-class policy forms, rating guidelines, and data management capabilities for commercial lines, inland marine, farm & agriculture, auto, and personal lines insurers. Their consultative and unbiased approach, unrivaled customer service, and innovative technical capabilities underscore a focused commitment to the success of their Members. Together with Member carriers, insurance regulators, Partners, MGAs, and other key stakeholders, the AAIS Community is working to build a more cost-effective and sustainable industry. For more information about joining the AAIS Community, visit AAISonline.com.
Media Contact
Hannah Bauer, Martin & Company, 1 4025871945, [email protected], martincompanyus.com
SOURCE Martin & Company
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