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Coretech Insight Report: Insurers Can See Up to $25M Revenue Gain

A Coretech Insight Study Commissioned by Socotra

Insurers know that speed and agility are key to growth. But they struggle to quantify the value of investing in new technologies in terms of speed-to-market and revenue. To address this challenge, Coretech Insight, an independent advisory firm focused on core technology for the insurance industry, conducted a breakthrough study modeling three real-world scenarios to assess the economic value of speed-to-market, using publicly available industry and government data and validation by senior industry participants.

The analysis compared product launches for incumbent systems against new cloud-native agile platforms and found that insurers that launch products faster by deploying cloud agile technology are able to generate a revenue gain of as much as $25 million over five years.

What will you learn from this report? You’ll get the detailed information supporting these results and learn how findings like these were determined in this analysis:

  • The benefits of shorter time-to-market exceeded the costs of implementing and operating new cloud technology by a wide margin—as much as 40 times the cost of implementation.
  • Cloud agile technology can trim product launch times to a matter of months versus typical timeframes of a year to 18 months for outdated systems.
  • Cloud agile platform product launches enable insurers to capture revenue that would otherwise be lost to extended launch timeframes.
  • Insurers are forfeiting millions of dollars in new premiums due to delays common with incumbent systems.

Get your copy of this ground-breaking, must-read study today.

Socotra Empowers Steadily with Flexible API Integration and Responsive Support

AUSTIN, Tex. –  July, 11, 2023 – Socotra, the modern core platform provider for innovative insurers, today announced that Steadily, America’s top-rated landlord insurance solution, has adopted the Socotra Connected Core policy administration system. The collaboration has allowed Steadily to enhance its systems and deliver an exceptional user experience to its customers. One of the key highlights of the partnership has been Socotra’s robust API offerings. Steadily has greatly benefited from Socotra’s comprehensive API suite, which has provided the company with unparalleled flexibility in integrating Socotra Connected Core within its existing systems. The seamless integration has allowed Steadily to optimize its operations and offer a streamlined experience to its users. In addition, Socotra’s unique configurability has proven to be invaluable for Steadily. This innovative capability has enabled Steadily to rapidly deploy and launch the Socotra platform, significantly reducing the implementation time. Furthermore, as Steadily products continue to evolve, Socotra’s flexible configuration has allowed the company to adapt and iterate efficiently, ensuring ongoing success.

“Working with Socotra has been a game-changer for Steadily,” said Datha Santomieri, Steadily co-Founder and vice president.  “Their robust API capabilities have empowered us to seamlessly integrate their insurance core platform and offer a superior user experience. Socotra has expedited our time to market, allowing us to adapt swiftly to changing market needs.” “Steadily has built a reputation for offering fast, affordable landlord insurance paired with intuitive tech and beautiful design. We are pleased Socotra contributes to Steadily’s growth and achievements,” said Dan Woods, Socotra founder and CEO.  “The collaboration between the two companies exemplifies the power of leveraging cutting-edge technology and responsive expertise to drive innovation in the insurance industry.”

Socotra has consistently demonstrated responsiveness to Steadily’s inquiries, providing timely guidance whenever needed. Socotra’s outstanding support has fostered a strong and collaborative relationship, enhancing Steadily’s overall experience with the platform. About Socotra Socotra provides insurance companies with the flexible modern core platform and ecosystem they need to adapt, innovate, and grow their business. By leveraging solutions such as Socotra CorePlus and Socotra Connected Core, insurers can streamline policy administration, enhance digital experiences, and deliver products to market faster. 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. To learn more, visit socotra.comAbout Steadily Steadily was created by industry experts to offer the best landlord insurance service and top-rated customer experience from quote request to claim resolution. Mobile-first and direct-to-consumer, Steadily is poised to rapidly remake the insurance segment. The company is dual headquartered in Austin, Texas and Overland Park, KS., and is backed by investors including Matrix Partners, Zigg Capital, Next Coast Ventures, Nine Four Ventures, and SV Angel. Learn more at and stay in touch @SteadilyInsure and