Serving one of the world’s largest and most technologically neglected industries, Socotra’s mission is to provide insurers with a modern, enterprise-grade core system that enables them to rapidly develop and distribute products that better serve their customers.
Our platform unifies underwriting, policy management, claims, reinsurance, reporting, and more. Socotra supports both property & casualty and life businesses. Our powerful data model and extensible architecture empowers insurers to prototype, launch, and update insurance products quickly and easily. The Socotra platform is built from the ground-up using the latest technologies to be transparent, reliable, flexible, and secure.
Our team comes from the best software companies and engineering schools in the world. We are headquartered in San Francisco.
Consultant in Insurance
Advanced user of Socotra
★★★★★
Socotra policy admin partnership has been great
What do you like best?
I appreciate the flexibility and configurability that the Socotra policy admin system provides. It allows us to have a single source of truth for our product attributes and business rules that can be imported into their system. In addition, the Socotra staff assigned to our account has been very responsive to our questions and concerns. Our partnership with them has been great.
What do you dislike?
Unfortunately some features that were requested were not completed in the time frame committed.
Recommendations to others considering the product:
Our partnership with Socotra has been very good. They have a nice product that is flexible and configurable for many different insurance products. They are generally very responsive to feature requests but getting them completed may take some time. They have a number of requests in their backlog and your needs may not always be a top priority.
What problems are you solving with the product? What benefits have you realized?
We are looking to use a single policy admin system for all of our of life and health products. Socotra provides the flexibility and configurability that we are looking for in a policy admin product. Socotra also helps us to get out products to market more quickly.
Review source: G2.com
