Socotra is the next-generation technology platform for insurance operations worldwide.
A comprehensive solution
Corporate and Retail, Life and P&C,
Underwriting and Claims
Our customers aren’t just underwriting companies, claims companies, or analytics companies—they’re insurance companies. They need an IT platform as comprehensive as their businesses. Socotra pulls the whole business together: underwriting and claims; P&C and Life; Corporate and Retail. Socotra even manages commissions, reinsurance, reporting, analytics, payment plans, inspection workflows, and media storage, so our customers can concentrate on growing their businesses.
Still, being comprehensive isn’t enough. More than a collection of disparate functionalities, Socotra’s design is cohesive from the ground up. A single engine powers underwriting, claims, and analytics, giving our customers a complete view. Socotra brings it all together.
A new kind of agile
Rapid Prototyping, Setup, Launches, and Changes
It takes a changing insurance company to compete in a changing market. A competitive insurer is always collecting new data, analyzing old data, improving distribution channels, and updating pricing. Socotra brings a new level of speed and agility to insurance IT. How is this possible?
Socotra separates the universal aspects of insurance from the customized parts. For example, every insurance IT solution must understand concepts such as policies, claims, invoices, and endorsements; but no two companies implement them the same way. Socotra lets you customize what changes, without reinventing what doesn’t.
a next-generation approach
Built with the same technologies powering
the world's largest Internet companies
Every day, billions of people around the world use websites that never go down. Social media and search sites continuously operate through software upgrades, configuration changes, and infrastructure failures. Socotra brings this same level of reliability to the insurance industry.
Socotra’s next-generation design includes:
- Modern SaaS Reliability: Immediate failover keeps Socotra running, even if an entire data center ceases to operate.
- Auditability and Traceability: Socotra tracks sources of all data and changes to all records. You know who changed it and when.
- Zero-Downtime Upgrades: Socotra continually delivers new features and configuration updates without a moment of service disruption.
- Configuration Management: Socotra facilitates continued, deliberate changes to insurance products, and can even reverse changes—all without downtime.