[On-demand webinar] The 10-week tech stack: How API-based platforms can help insurers rapidly spin up new products and reduce costs

“Insurers are trying to solve a difficult problem. But they have a monster in the basement: their legacy tech stack,” said Socotra CEO Dan Woods.

The insurance industry is currently undergoing a massive digital transformation. Insurers are investing lots of time and money into modernizing their services, but many are hindered by slow and outdated backend systems. How can insurers make the most of their investments and stop playing catch-up?

Driving speed to market with a 10-week tech stack

In our webinar, Dan Woods and former Snapsheet President Jamie Yoder discuss the benefits of cloud-native and API-based platforms, insurers’ need for a modern policy administration and claims IT stack, and the value of a 10-week product development timeline.

Socotra’s cloud-native, API-based platform helps insurance companies around the world accelerate digital transformation by prioritizing affordability, efficiency, and flexibility. Earlier this year, Socotra partnered with Snapsheet, a leader in virtual appraisals and cloud-native claims management software, to give insurers a plug-and-play joint platform. 

Socotra’s core insurance engine and Snapsheet’s claims workflow software combine to deliver a modern, end-to-end insurance IT stack with an automated, fully integrated, and continuously updated digital experience. In a matter of keystrokes, the platform handles policies from inception to claims and helps insurers spin up new products at reduced costs in as little as 10 weeks, which, as Dan and Jamie discuss, just isn’t possible with legacy systems.

“It’s about bringing a total solution that drives speed to results—not just speed to launch. You now have the ability to hit new segments, quickly create new value, and focus on the results,” said Jamie.