(Image source: Socotra homepage.)

Socotra, a San Francisco-based startup core system/platform vendor, announced that it has received ISO 27001 certification. The designation is internationally recognized as the most reputable standard for the establishment and certification of an information security management system (ISMS).

“Core systems are a critical element in an insurer’s security program,” comments Donald Light, Director in Celent’s (Boston) North America Property/Casualty Practice. “An ISO 27001 certification represents a core system provider’s continuing commitment to meeting rigorous information security standards.”

“Ensuring the security of our customers’ data is a mission-critical focus,” comments Dan Woods, founder and CEO, Socotra. “This certification represents our significant investment and commitment towards information security management and is a necessity for insurers to trust that their data is secure.”

Socotra describes its platform as the insurance industry’s first cloud-native backend, and the first with open configuration and APIs that empower insurers to deploy powerful technology with their choice of engineering resources. “Socotra makes it easy for insurers to rapidly design and deploy new products and manage their books of business in a cost-effective manner,” a vendor statement says.

Socotra, which has been live in Europe since July 2018, is also General Data Protection Regulation (GDPR) compliant.

Socotra’s Case for the Productization of Insurance Platforms