Fenris Announces New Partnership with Socotra to Improve Customer Buying Journey
February 17, 2022
Data provided by Fenris will accelerate the closing of new business and improve conversion rates for Socotra personal lines customers
Fenris Digital, an insurance data sourcing innovator providing a suite of API-delivered, SOC 2 compliant products, is pleased to announce a new partnership with Socotra, the first truly modern insurance core platform.
Socotra has integrated with Fenris’ Personal Lines Prefill Data Solution, which will be available to insurer clients through Socotra Marketplace, the first no-code app marketplace for insurers. As a charter partner for Socotra Marketplace, Fenris will work with Socotra to advance digital transformation and innovation within the insurance ecosystem.
“By providing prefill data for personal lines insurance applications, we not only eliminate any errors which could be introduced during manual entry by potential policyholders or agents, we also improve the customer experience,” said Jennifer Linton, founder and CEO of Fenris. “Our integration with Socotra means better, more proactive intelligence injected into workflows for insurers. We look forward to working with Socotra on new and innovative ways of making technology and data work better together for the benefit of the entire industry.”
This partnership combines Fenris’ API-delivered, SOC 2-compliant solutions, which leverage robust APIs to provide instant insights and enrichment through alternative data and machine learning (ML), with Socotra’s powerful policy core and cloud-native architecture to empower insurers to rapidly launch, integrate, and scale innovative products—such as embedded and usage-based insurance—with minimal effort and costs.
“We’re excited to have Fenris as a charter partner of Socotra Marketplace,” said Ekine Akuiyibo, vice president of business development and deployments at Socotra. “Through Socotra Marketplace, insurers can gain instant access to Fenris prefill data directly from the Socotra platform, reducing the time, complexity, and cost required by typical integrations. Our mutual customers can then focus on improving quote-to-bind ratio and delivering exceptional buying journeys for their customers.”
Fenris utilizes well-established data repositories of 255+ million adults, 130+ million households, 30+ million small businesses, and complete coverage of all properties in the U.S. to enable better customer acquisition for traditional, innovative, and embedded insurance providers.
Fenris Digital (Fenris) is an insurance data sourcing innovator delivering a suite of API-delivered, SOC 2-compliant products which leverage well-established, proprietary data repositories for Predictive Scoring, Data Enrichment and Pre-fill, and Life Event Monitoring & Alerts (LEMA), to enable modern customer acquisition workflows across auto, home, life, and small commercial lines. For more information, please visit www.fenrisd.com.
Socotra is bringing transparency and accessibility to insurance technology. With Socotra’s modern core platform, global insurers and MGA insurtechs can accelerate product development, reduce maintenance costs, and improve customer experiences. Socotra provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable.
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