Coherent and Micruity have announced a first of its kind joint solution to transform the way retirement income products are created, connected, and consumed.
Using the Coherent and Micruity product engine, Product teams can now configure operationally ready calculation, storage, and tracking engines in a fraction of the time the process traditionally takes. And they can use existing tools they know well, such as Excel, without having to learn new systems. This joint solution:
- Enables the industry to more efficiently solve the challenges around offering retirement income solutions in DC plans.
- Quickly connects income products to platform providers in a fraction of the time and cost.
- Drives ongoing product innovation through accelerating development process while also reducing maintenance costs.
- Helps solve a longstanding industry challenge by increasing the availability and utilization of retirement income solutions for participants in plans nationally.
“Partnering with firms like Coherent can be a game changer for product manufacturers. We know they want to use best-in-class vendors to power their product stack. This joint solution enables true connectivity — from Coherent for the calculation, to best in class user interface apps, to existing policy admin systems for the data storage. This is all underpinned with using Micruity’s infrastructure. They get the best of all worlds and can build their Product Stack as they want, with modern services and a true open-architecture.”
Trevor Gary, CEO, Micruity.
“Coherent and Micruity are collaborating to bring to market a best-in-class retirement income product stack. This type of joint solution delivers on the promise of modern technology to fully automate and streamline processes that have traditionally been manual, error-prone, and expensive in today’s low margin environment. Together Coherent and Micruity replace cumbersome development team backlogs & paper processes with cutting-edge automation combining our modern calculation engine and Micruity’s advanced middleware solution. Coherent is a trusted partner with 100+ elite financial services firms globally, including leading insurers and asset managers. We are excited to jointly offer this new retirement solution to the industry.”
Scott Musson, Chief Partnership Officer, Coherent.