(Image source: Avolanta homepage.)
Socotra (San Francisco), a cloud-native core platform for insurance, and Avolanta (Blythewood, S.C.), provider of a sales and service enablement platform, have announced a strategic partnership aimed at helpng insurers launch innovative products and seamless digital experiences for brokers, agents, and customers.
This partnership combines Socotra’s powerful policy core and Avolanta’s flexible sales and service enablement platform, according to a Socotra statement. “Together, the two companies will provide mutual customers with an end-to-end solution designed to streamline quotes, applications, and policyholder service, while reducing the friction between insurers, sales teams, and customers,” the statement says.
Socotra markets itself as delivering open APIs and a cloud-native architecture as the first truly modern core system empowering insurers to rapidly launch, integrate, and scale innovative products with minimal effort and expense. Socotra says Avolanta’s configurable platform allows insurers to build collaborative, mobile-first experiences for producers and policyholders faster and at a lower cost.
“Experiences for brokers, agents, and insurance customers often lag what is seen in other industries,” comments Chuck Wilson, Co-Founder, Avolanta. “One reason is the tremendous difficulty of integrating legacy insurance core systems with modern applications and digital portals. Socotra has overcome this industry-wide issue by providing intuitive and open APIs that make integrations simple. With the end-to-end solution from Socotra and Avolanta, insurers can seamlessly deploy both digital frontend experiences and a robust foundation for mission-critical policyholder data.”
Meeting the Needs of Modern Operators and Consumers
“Socotra and Avolanta share the view that insurance should be built to meet the needs of modern operators and consumers,” says Ekine Akuiyibo, VP, Business Development and Deployments, Socotra. “Avolanta offers insurers the ability to create collaborative and mobile-first experiences for brokers, agents, and customers. Socotra provides insurers with the powerful core and open APIs to launch next-generation insurance products—like embedded or usage-based insurance—with speed and ease. Combined, Socotra and Avolanta deliver the full tech stack that insurers need to differentiate their products and experiences and stay competitive in today’s market.”