Insurance is a purely information-driven industry. It doesn’t build or ship anything but solely collects, organizes, stores, and analyzes information. With American and European insurance premiums equal to 9% of GDP, there is probably no other industry in the world where optimal use of information has a greater impact. Despite the magnitude and criticality of information to this industry and the world economy, insurance IT is badly broken.
Socotra is the first and only core insurance platform to offer a modern answer. It is the only one that is cloud-native, the only one with real transparency, the only one customers can test drive before they buy. These attributes are common to platforms in other industries, from CRM to online advertising, and Socotra brings them to one of the world’s largest and most critical industries. The impact can’t be bigger, and the rewards can’t be bigger.