Fenris Partners with Socotra

Data provided by Fenris will accelerate the closing of new business and improve conversion rates for Socotra personal lines customers.

(Image source: Fenris homepage.)

Fenris Digital (Richmond, Va.), an insurance data sourcing vendor providing a suite of API-delivered, SOC 2 compliant products, has announced a partnership with insurance platform software provider Socotra (New York) aimed at improving the customer buying journey.

Jennifer Linton, founder and CEO, Fenris.

Socotra has integrated with Fenris’ Personal Lines Prefill Data Solution, which will be available to insurer clients through Socotra Marketplace, which the vendor calls the first no-code app marketplace for insurers. As a charter partner for Socotra Marketplace, Fenris will work with Socotra to advance digital transformation and innovation within the insurance ecosystem.

“By providing prefill data for personal lines insurance applications, we not only eliminate any errors which could be introduced during manual entry by potential policyholders or agents, we also improve the customer experience,” comments Jennifer Linton, founder and CEO, Fenris. “Our integration with Socotra means better, more proactive intelligence injected into workflows for insurers. We look forward to working with Socotra on new and innovative ways of making technology and data work better together for the benefit of the entire industry.”

The partnership combines Fenris’ API-delivered, SOC 2-compliant solutions, which use APIs to provide instant insights and enrichment through alternative data and machine learning (ML), with Socotra’s policy core and cloud-native architecture to empower insurers to rapidly launch, integrate, and scale products, according to the Fenris announcement.

Ekine Akuiyibo, VP, Business Development and Deployments, Socotra.

“We’re excited to have Fenris as a charter partner of Socotra Marketplace,” comments Ekine Akuiyibo, vice president of business development and deployments at Socotra. “Through Socotra Marketplace, insurers can gain instant access to Fenris prefill data directly from the Socotra platform, reducing the time, complexity, and cost required by typical integrations. Our mutual customers can then focus on improving quote-to-bind ratio and delivering exceptional buying journeys for their customers.”

Fenris reports that it utilizes well-established data repositories of 255+ million adults, 130+ million households, 30+ million small businesses, and complete coverage of all properties in the U.S. to enable better customer acquisition for traditional, innovative, and embedded insurance providers.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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