Grow your business
Engage, innovate, and thrive
Modernizing your core insurance operations with Socotra delivers valuable benefits that impact your entire business– improved customer relations, operational efficiencies, and financial growth, just to name a few.
Expect these benefits with Socotra’s agile core platform
Our continuously-improving, true-cloud platform means that you enjoy a lower total cost of ownership (TCO). There’s nothing to maintain, reducing upfront capital expenditures, and once you’re live, product upgrades are continuous, automatic, and free.
Get products to market 3x faster
Our cohesive platform is ready out of the box with nothing to customize. This saves our customers valuable time and is just one reason why they can accelerate their product development — on average, our customers go live 3x faster than legacy systems.
Reduce cost of change
With Socotra, insurers can make product changes and updates in record time. Changing rating, adding policy documents or form fields takes minutes not months. Expanding your product offering into additional geographies is also an order of magnitude faster and cheaper, and can be done without software upgrades.
Reach new markets
Power new products and pursue new customers
Acquire and retain customers by creating innovative products and experiences they want. With Socotra’s flexible product model, you can easily create new digital-first products or modernize existing ones to provide your customers with next-level personalization and convenience.
“We at Aite Group believe that Socotra should be part of the conversation for any carrier looking to evolve.”
Jay Sarzen, Senior Analyst, Aite-Novarica Group
Read our blog to see why Aite-Novarica Group gives Socotra highest marks for product performance.
Meet customers where they are
Enable omnichannel interactions
Socotra is agnostic to distribution channel. This means you can increase your customer engagement with an omnichannel sales approach so policyholders can interact with you when and where they want, whether it’s on a mobile app, over-the-phone, or with an agent.
Choice of implementation approach
Whether you want to configure Socotra on your own using our open APIs and public documentation, collaborate with our professional services team, or leverage one of our certified SI partners, we have an option to ensure your success.
Leverage data-driven insights
Socotra’s well-designed APIs make it easy for insurers to access their customer data, enabling better risk assessment and pricing to drive profitability.
State of the art
Effortlessly integrate data and new tech
With Socotra’s open and intuitive APIs, insurers can easily take advantage of new data sources and technologies to improve business outcomes.