Socotra Vaunts First 12 InsurTech Partners in Socotra App MarketPlace

Introduced at InsureTech Connect 2021 as a beta program, Socotra App MarketPlace now has twelve insurance technology providers to accelerate time-to-market and modernize every aspect of the insurance value chain, from user experience to underwriting to claims.

(Image credit: Andrew Svk.)

Socotra (Austin, Texas), a cloud-native core platform for insurance, has announced that twelve insurance technology providers have joined the Socotra App MarketPlace to publish modern software apps connected to Socotra policy core.

Built on Socotra’s cloud platform, the vendor pitches the Socotra App MarketPlace as enabling insurers to eliminate integration projects and add new solutions and services in minutes.  “As insurers seek to stay competitive and introduce new products and features at unprecedented speeds, they’re increasingly looking to advanced technology solutions that accelerate time-to-market and modernize every aspect of the insurance value chain, from user experience to underwriting to claims,” a Socotra statement says. “However, integrating these modern technologies is often impossible due to inflexible legacy core systems.”

Dan Woods, CEO, Socotra.

“From Salesforce AppExchange to Stripe App Marketplace to AWS Marketplace, there is no stronger engine for innovation than an app ecosystem,” comments Dan Woods, Founder and CEO, Socotra. “Socotra App MarketPlace is the first marketplace for insurers that works just like these well-known enterprise app marketplaces. Socotra was already the industry’s best platform for innovation. With the addition of Socotra App MarketPlace, Socotra customers are able to add nearly limitless capabilities in minutes, not months.”

Socotra App MarketPlace was introduced at InsureTech Connect 2021 as a beta program, and Socotra has reported steady progress on building out the vision of a modern core platform. The first twelve partners developing apps for Socotra App MarketPlace are as follows, as described by the vendor:

  • CAPE Analytics: Instant property intelligence for buildings across the United States and Canada for residential and commercial property stakeholders
  • Coherent: Offers Spark, a low/no-code SaaS platform that “API-ifies” Excel, enabling workflows that reduce days and hours into minutes for even the most complex business logic
  • DataArt: A global software engineering firm that takes a uniquely human approach to solving problems
  • Fenris Digital: A suite of API-delivered, SOC2 compliant products which leverage well-established, proprietary data repositories for Predictive Scoring, Data Enrichment and Pre-fill, and Life Event Monitoring & Alerts
  • ​​Five Sigma: A cloud-native, data-driven Claims Management Solution with embedded AI/ML capabilities to allow simple and smart claims processing for the insurance industry
  • Fize: Empowers consumers to access, retrieve, and use their insurance policy data from wherever it’s being held
  • Fulcrum Digital: Expertise in digital transformation, machine learning and emerging technologies, and offering a consulting-led, integrated suite of enterprise-grade software solutions catering to the ever-evolving needs of insurers, Insurtech, and Fintech
  • Geosite: A platform and data engine that enables carriers to access and leverage geospatial data in their day-to-day insurance operational processing
  • GhostDraft: An intuitive, end-to-end customer communications and digital experience platform that empowers insurers to rapidly transform communications into engaging experiences
  • One Inc: Modernizing the insurance industry through a unified and frictionless payment network that reduces costs, increases security, and optimizes the customer experience
  • Tranzpay: Provides electronic payment solutions utilizing the latest technologies and a forward thinking mindset
  • Verisk: A trusted partner to many in the insurance industry providing data-driven analytic insights and solutions, integrated with their 360Value reconstruction cost estimate data to help insurers maintain insurance-to-value – from new business to renewal

Socotra says it will discuss the Socotra App MarketPlace at InsureTech Connect 2022 when the vendor hosts the Modern CoreTech Forum on September 20 at the Mandalay Bay in Las Vegas. Socotra says its partners will also demo apps throughout the conference at the Socotra booth, and that more partners will be announced in the near future.

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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 or (503) 936-2803.

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