How a top-3 insurance company launched a new insurance platform with Socotra in six months
After partnering with a leading ride-sharing company to provide vehicle protection for its drivers, a top-3 global insurance company looked to Socotra to help build an Insurance-as-a-Service platform for distributing on-demand insurance products. The insurer’s Vehicle Interruption Cover was successfully launched in the United Kingdom in 2019.
- Socotra helped the insurer implement a new technical platform and launch a new product in only six months—3x faster than it would have taken with a legacy core system
- The insurer’s implementation team was made up of just 10 members, thanks to Socotra’s easily configurable platform
- The insurer’s “run” cost on Socotra is significantly lower compared to other legacy solutions
- Socotra helped the insurer deliver simplicity, speed, flexibility, and personalization in every step of the customer journey