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.
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.
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
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.
SpearTechnologies, Inc News
Spear Technologies Recognized by CIOReview as one of the "50 Most Promising Microsoft Solution Providers"
SpearClaims™ Showcased for its Cutting-Edge Technology Platform
Corte Madera, CA - Spear Technologies is proud to announce that it has been recognized by CIOReview as one of the 50 Most Promising Microsoft Solution Providers in 2021. CIOReview is a leading technology magazine, guiding enterprises with forward-thinking insights and information on today’s leading solutions.
CIOReview recognized Spear Technologies because the company has helped to address issues in the property and casualty insurance industry. To date, this is one of the last segments of the financial services market that has yet to upgrade to modern technology. As a result, many insurance organizations are stuck in time, using legacy systems that are difficult to adapt to today’s business challenges.
Co-founders Jose Tribuzio and Brian Mack launched Spear Technologies in 2020 to provide insurance organizations with a modern solution to this long standing predicament. By leveraging the Microsoft Power Platform – one of the best low-code/no-code platforms in the market –the company has helped organizations to modernize and transform their operations.
“We’re thrilled to receive this recognition,” said CEO Jose Tribuzio. “With our flagship product SpearClaims™ being built on the Power Platform, our customers can immediately take advantage of the significant progress Microsoft has made in regard to artificial intelligence, business intelligence, and automation. With these advanced capabilities, insurance companies have the infrastructure to reach the next level of growth and success.”
CIOReview noted that the Spear Technologies team has in-depth insurance experience coupled with an innovative mindset. This translates into knowing exactly where and how to leverage Microsoft technologies and capabilities to profoundly impact insurance performance.
“Imagine your insurance processes being driven by the Microsoft Power Platform – this would enable an unprecedented level of speed, control, and results,” said Brian Mack, CRO at Spear Technologies. “And we will continue to launch and enhance features and capabilities that leverage the cloud, robotic process automation (RPA), and virtual agents (bots) – all of it designed to support our clients’ unique objectives in a competitive landscape.”
Using SpearClaims on the Microsoft Power Platform, customers can take advantage of the following benefits:
• Extensibility. Organizations achieve tremendous control. They can easily configure and extend SpearClaims to support specific business needs. And using PowerApps, they can deploy even more capabilities.
• Performance. Companies bask in the simplicity of one user interface (UI) across a variety of devices, from desktop to mobile. A superior software-as-a-service (SaaS) data service translates into a solution that’s easy to use, easy to manage, compliant, secure, fast, scalable, and globally available.
• Intelligent Automation. Everyday business users may use tools like AI Builder and Power Automate to implement unique workflows and business processes with ease. These citizen developers, as well as other trained resources, can launch capabilities quickly, effectively and at a lower cost.
• Digital Engagement. Providing insureds and claims stakeholders with the information they need is vital to an efficient insurance and claims operation. UsingPortals and Virtual Agents, organizations can launch their own portal and use bots to enable and streamline virtual interactions.
• Integration. Insurance companies often have hundreds of data sources and applications. Now with an extensive library of pre-defined connectors, they can easily integrate SpearClaims with their other solutions.
• Analytics. Customers can build and customize their own dashboards using Power BI. By consolidating and visualizing key performance metrics in one place, they have the insights to target problem areas and improve overall outcomes.
• Trusted Cloud. These days more companies are moving to the cloud. Spear customers benefit from cloud hosting on Azure. Backed by the Microsoft Trust Center, which ensures security, privacy, compliance, reliability, and resiliency, a company’s intellectual property is well protected.