Starting as an industry outsider and Silicon Valley insider figuring out core systems for a Rwandan insurer, Socotra has about a dozen customers across four continents, including household name organizations such as Nationwide and Mutual of Omaha.
The insurance core system/platform company seeks to expand globally and build a customer base that already includes household names such as Nationwide and Mutual of Omaha.
Majesco describes Digital1st Insurance is a cloud-native, microservices-based digital experience platform with a low code/no code configurability and a robust API and partner ecosystem apps.
Novarica’s Matthew Josefowicz remarks on some of the greatest changes that have taken place in insurance IT since the year 2000.
Novarica’s recent study shows overall IT spending ratios inching upward as insurers invest in greater speed-to-market, ease of doing business, and improved digital and data/analytics capabilities.
Tower was able to introduce new motor and home and contents products on EIS Group’s fully digital, cloud-based policy, billing and claims platform within 18 months.
Nationwide built and deployed Spire in nine months, with Socotra as the core system upon which it runs its entire policy admin operation, from quote to claim.
The insurer has rolled out for homeowners on the platform to all its agents and will begin its commercial lines implementation in early 2020.
Verisk seeks to strengthen its existing data and analytics solutions for the life and annuities market.
Initially expecting to replace only its claims system, the insurer decided to replace all its legacy corse systems with the fully integrated core suite.