AuditCover Is Changing Tax Audit Insurance with Ingenuity and the Socotra Modern Insurance Core Platform
AuditCover, an Australia-based startup founded in 2020, operates as a fully digital insurance product that provides best-in-class tax audit insurance to protect salary earners, sole traders, companies, directors, and SMSFs from professional fees when audited by a statutory authority.
Initially, the AuditCover team signed with a fully managed service that identified itself as “no code” and promised a delivery timeframe of within two weeks. However, those two weeks quickly turned into months and the team was beginning to find themselves entirely dependent on their vendor for updates, deployments, and product changes, which did not meet their need for control and growth goals. As a result, they began searching for an alternative platform.
Using Socotra’s Connected Core and intuitive APIs, AuditCover was able to quickly design an agile embedded product and launch it to market in record time – just under 3 months.
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