What is Socotra? Socotra Review, Features

Socotra is the technology platform for the world's most advanced insurers, built to power the fastest growing insurance businesses in the world.

About Socotra

Founded in 2014 and headquartered in San Francisco, Socotra provides a cloud-native application platform that runs on the Amazon Web Services (AWS) cloud. The platform hosts an integrated set of underwriting, policy management, claims, billing and reporting applications that insurance companies can configure and scale themselves.

Socotra's services

1. Simple configuration

Applications, endorsements, and premiums can be updated in minutes. Entire lines of business can be added in weeks without hiring outside vendors.

2. Create a policy document

Define and customize documents ranging from invoices to policy outputs to customer notifications. Users can download them as PDFs, view them as web pages, or automatically embed them in emails.

3. Efficient quotation and binding

Agents and underwriters can work together on our platform to generate quotes and bundle risks with required ratings, documentation and reports.

4. Reach your customers

In addition to our web portal, custom direct-to-consumer websites and mobile applications can be easily created using our API.

5. Create standardized products

ACORD tables and NCCI ratings can be quickly deployed or customized to speed product releases.

6. Integrated Search

All data is available through a common search tool on our portal.

7. Go global

Socotra supports multiple currencies, local languages, and multi-country regulatory requirements out of the box.