How a top-3 insurance company launched a new insurance platform with Socotra in six months
The customer in this case study is a top-3 global insurance company that strives to excel in every step of the customer journey with simplicity, speed, flexibility, and personalization.
After partnering with a leading ride-sharing company to provide vehicle protection for its drivers, this insurer looked to Socotra to help build an Insurance-as-a-Service platform for distributing on-demand insurance products. The insurer’s Vehicle Interruption Cover was successfully launched in the United Kingdom in 2019.
- Socotra helped its customer implement a new technical platform and launch a new product in only six months—3x faster than it would have taken with a legacy core system
- The insurer’s implementation team was made up of just 10 members, thanks to Socotra’s easily configurable platform
- The insurer’s “run” cost on Socotra is significantly lower compared to other legacy solutions
Watch the demo: See how Socotra drives agility for commercial insurers
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.
SOCOTRA FOR COMMERCIAL INSURERS
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.