Socotra
Socotra provides cloud-native insurance IT solutions, including a unique app marketplace and robust security features.
Services
Socotra offers a range of insurance IT solutions that cater to diverse needs within the industry. Key offerings include Socotra Connected Core, Socotra CorePlus Auto, Socotra CorePlus Homeowners, and Socotra Unified Portal. These solutions provide insurers with advanced functionalities to streamline their operations. Additionally, Socotra offers a unique 30-day free trial for Socotra Connected Core, enabling potential clients to explore the platform's capabilities before making a commitment.
Products
Socotra's product lineup features several noteworthy solutions designed to enhance the efficiency and flexibility of insurance operations. Their offerings include Socotra Connected Core, which serves as a cloud-native insurance policy core platform, contributing to significant speed-to-market and adaptability through open APIs. Other specific products include Socotra CorePlus Auto and Socotra CorePlus Homeowners, tailored to meet the needs of auto and homeowners insurance. The Socotra Unified Portal unifies various aspects of insurance operations onto a single platform.
Innovations in Insurance Technology
Socotra stands out in the industry with its true cloud-native insurance policy core platform. This platform offers unmatched speed-to-market and flexibility, significantly benefiting from its open APIs. Furthermore, Socotra's commitment to security and compliance is demonstrated by maintaining ISO 27001 and SOC1 Type 1 certifications. Their platform supports multiple currencies, local languages, and multi-country regulatory requirements right out of the box, making it a versatile solution for insurers globally. Regular penetration testing is conducted to safeguard against security vulnerabilities.
Socotra App MarketPlace
The Socotra App MarketPlace is a distinguishing feature of the company's offerings, being the insurance industry's only app marketplace with pre-integrated apps. This marketplace includes contributions from leading software and data providers, offering insurers a wide range of tools and applications readily integrated with Socotra's core platform. This enhances the overall utility and flexibility of the Socotra ecosystem, allowing for seamless implementation and use of diverse functionalities.
Security and Compliance
Socotra prioritizes data security and regulatory compliance across all its solutions. The company holds ISO 27001 certification for its information security management systems and SOC1 Type 1 certification, underscoring its commitment to high-security standards. Additionally, Socotra employs enterprise encryption techniques to ensure customer data is fully encrypted at rest and in transit. Regular penetration testing is part of their ongoing effort to identify and mitigate any potential security threats, maintaining the integrity and security of their platforms.