Before developing the solutions on the Microsoft Power Platform, Spear Technologies had tested the efficacy of the leading low-code/no-code platforms available in the market place. After an extensive evaluation, the company realized the exciting technical capabilities of these platforms as well as the extraordinary capabilities of the Microsoft Power Platform and went on to develop their solutions utilizing the same. However, they understand the need to educate organizations about the benefits of low code/no code. As such, Spear Technologies has a focus to educate their market on the technical aspects of low code/ no code platforms and thebenefits that they can bring to P&C operational needs.
The company’s flagship product is SpearClaims™, an enterprise P&C claims administration system that handles everything from multi-jurisdiction workers compensation to commercial and personal auto to property, and even homeowners. The solution is equipped with all the functionality needed for claims management along all lines of insurance. As the solution is built on the Microsoft Power Platform, it comes with multipronged benefits.
Insurance organizations can utilize all components of the Power Platform such as Microsoft Power Apps, Power Automate, AI builder, Virtual Agents, Portals, and Power BI, which are hosted on Microsoft Azure. The company applies these components to build applications for the client’s diverse business cases. In addition, the company offers its clients the flexibility to utilize all the capabilities of the Microsoft platform directly. For example, when a client has a need to track more data, implement a unique workflow, or implement a model to predict an outcome, the can use the built-in capabilities of Power Apps, Power Automate, and AI builder immediately. Also, as Microsoft continues to develop their platform, the company’s solutions are infinitely scalable. “Our solutions will continue to grow along with Microsoft and become more powerful,” mentions Jose Tribuzio, CEO and cofounder of Spear Technologies.
Our solutions will continue to grow along with Microsoft, become more powerful, and provide our clients with an unparalleled level of speed, control, and results
In one instance, Spear Technologies tackled an invoice management process that was previously manual. A common issue is that huge volumes of invoices in varying formats are manually entered daily into a payment module. To address this, Spear Technologies deployed their solution and used AI Builder to systematically parse the invoices resulting in a streamlined process where payments are generated without any human intervention in record time.
Moving ahead, the company plans to expand their product portfolio to include policy administration and billing. With that, Spear Technologies plans to offer a complete suite of solutions for core applications. The company continues to augment their solutions with new features and functionalities whilst ensuring that clients utilize them effectively.