Socotra includes a billing system that features automated recurring billing and integrated reporting. We support grace, laps, reinstatement, cancellations, and renewal invoices so that all your billing needs are in one place.

Collect payments

Easily process payments by integrating with your payment processor of choice. As consumer habits shift, you can adapt to them, whether they want to pay with cash, card, or cryptocurrency.

Automate invoicing

Socotra generates recurring invoices automatically based on the pricing you’ve determined and the duration of the policy. You can invoice at whatever frequency you need.

Retrospective billing

With Socotra’s Premium Reporting feature, you can support usage-based insurance (UBI) products out of the box. Whether you are charging based on fluctuating mileage, payroll, fleet size, or the contents of a warehouse, Socotra has you covered.

Record transaction details

Socotra automates the application of and reporting on complex fees, taxes, and commissions, as well as recording them in your choice of accounting platform.

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