Socotra

Overview

Socotra is an insurance technology company offering a cloud-native core platform tailored for the insurance industry. Its platform is designed to empower insurers with modern software that enhances product development, operational agility, and customer service. Recognized as the first cloud-native core system for insurance, Socotra features open APIs and configuration formats that help modernize legacy systems.

The comprehensive platform supports the full insurance policy lifecycle, including policy administration, automated billing, and customizable digital experiences. Socotra boasts high reliability and scalability, efficiently handling thousands of users and millions of policies. Serving insurers across ten countries, it covers personal, commercial, and life insurance lines, aiming to reduce IT complexity, accelerate innovation, and provide cost-effective solutions for enhanced operations.

Basic Information

Contact Details

• Phone: +1 650-353-5713
• Website: socotra.com
• LinkedIn: linkedin.com/company/socotra

Key Focus Areas & Initiatives

• Insurance
• Software development
• Multi-product support
• Transaction model
• API integration
• Data control
• Financial technology
• Automations and complex transactions
• Data analytics integration
• Real-time data access
• Insurance software
• Fully documented APIs
• Product inheritance
• Policy automation
• Support for any insurance product
• Insurance product prototyping
• Low total cost of ownership
• Cloud SaaS
• Robust security and compliance
• Risk scoring integration
• Regulatory compliance automation
• AI and machine learning
• Policy configuration in JSON
• Multi-channel distribution support
• Out-of-sequence endorsements
• Custom UI development
• Insurance digital transformation
• Automatic policy renewal
• Policy lifecycle management
• Modular UI and portals
• CI/CD pipelines
• DevOps tools
• Data security
• Data lake connectivity
• Product configuration
• Policy management
• App marketplace
• Cloud-native insurance platform
• High scalability and performance
• Reversible billing transactions
• Policy version control
• Developer-friendly environment
• Insurance technology
• Open APIs
• Enterprise insurance software
• B2B
• Services
• Engineering services
• Automation
• Insurtech
• Digital transformation
• Customer engagement
• Risk assessment
• Predictive analytics
• Operational efficiency
• Business intelligence
• Finance technology
• Financial services
• Computer & network security
• Enterprise software
• Enterprises
• Computer software
• Analytics

Technologies Used

• AI
• Gmail
• Google Apps
• Grafana
• Mailchimp Mandrill
• Microsoft Office 365
• React Redux
• Remote
• Route 53
• Salesforce
• Socotra
• WP Engine

Affiliated Organizations & Regional Branches

• Avolanta