COMMERCIAL INSURANCE
Deliver digital-first experiences for both customers and agents
In the digital-first era, customers want to engage with insurers online, and agents want to focus their time advising on more complex policies. With Socotra, insurers can deliver both. Our agile and API-driven core platform gives insurers the flexibility needed to attract new customers, improve the agent channel, and stay ahead of the competition.
See how Socotra can deliver immediate business value
Socotra is on a mission to make insurance interactions better for customers and agents worldwide. Watch our demo and see what agility and flexibility really look like with a modern core platform.
Trusted by commercial insurers to launch new products and manage their existing book of business
Average customer goes live from project start
3x faster
Average customer during implementation
Saves 50%
After going-live
Upgrades $0
Lower TCO
Our continuously-improving platform means that commercial insurers enjoy a lower total cost of ownership (TCO). As a true-cloud provider, there’s nothing to maintain, reducing upfront capital expenditures, and once you’re live, product upgrades are continuous, automatic, and free.
Launch 3x faster
Our cohesive platform is ready out of the box with nothing to customize. This saves our commercial insurance 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, commercial insurers can make worry-free product changes and adapt to market demands in record time. Making product changes—updating ratings, adding policy documents, or form fields—takes just minutes, not months. Expanding products into additional geographies is also an order of magnitude faster and cheaper and can be done without software upgrades.
Reach new markets
Acquire and retain customers by creating innovative commercial insurance products and experiences they want. With Socotra’s flexible product model, insurers can easily create digital-first experiences or modernize existing products to provide their customers with next-level personalization and convenience.
Streamline the agent channel
By offering self-serve channels for simplified products and leveraging digital automation for manual tasks like re-keying data, agents become more efficient, allowing them quality time to advise on more complex, higher premium policies.
[Socotra’s] core technology is more advanced than other options we evaluated in the marketplace for our digital-focused initiative.
Ted Aerts, COO, MS Amlin Insurance SE
Complete
A seriously powerful insurance platform out of the box
Underwriting & Rating
Create and update rules and rates that reflect your evolving guidelines.
Policy Administration
Efficiently manage the complex interactions needed throughout the policy lifecycle.
Billing
Take control with automated recurring billing and integrated reporting.
Claims
Manage claims from FNOL through settlement.
Reporting
View and download standardized reports.
Our Ecosystem
Choose Socotra, and get access to our ecosystem of partners
From payment processing to risk modeling to a front-end, we’ve got you covered through the Socotra Partner Network.
