If P&C Insurance partners with Socotra

Swedish insurer If Insurance has introduced a new car-sharing insurance product using Socotra ‘s cloud-based platform. The product was developed and launched in five months, integrating with If’s existing systems for payments, claims, accounting, and reporting .

This insurance offering is tailored for car-sharing platforms, providing features such as on-demand coverage, usage-based pricing, and options for deductible reduction.

“Choosing Socotra was a strategic decision that allowed If to go live quickly while maintaining autonomy. Socotra’s powerful and flexible policy core empowered our team to easily self-implement an embedded insurance product and connect it to an ecosystem of technology. By partnering with Socotra, If can deliver new products faster and more efficiently, positioning us for greater success in the Nordic and Baltic markets.” – Erik Granmar, CEO of Insrt AB, a subsidiary of If P&C.

“I applaud the tech-savvy team at If for launching an embedded car sharing product in only five months. I’m proud that Socotra’s powerful and flexible core platform has enabled If’s rapid deployment and innovative solution, and I look forward to accelerating their growth into new markets.” – Dan Woods, CEO of Socotra.