Socotra’s open APIs and cloud-native platform will power Symetra’s digital-first product offerings
We are excited to announce that Symetra Life Insurance Company, a Bellevue, Washington-based subsidiary of Japanese insurer Sumitomo Life, has chosen Socotra as the core system for its digital platform build.
Symetra selected Socotra in part because it was the only cloud-native core platform that empowered Symetra’s technical team to model their product and test their pricing in a proof of concept. Socotra’s open design, with pre-built APIs and publicly available documentation, enabled seamless integrations, allowing Symetra to freely and easily transfer data between external systems.
“Symetra wanted the ability to rapidly develop and deploy new products in an agile fashion as consumers shift their purchasing habits to digital channels. Socotra’s platform allows us to adapt our processes and deliver the best experience to our customers,” said Mindi Work, SVP and chief of strategy at Symetra. “As Symetra continues to build and offer digital-first products, Socotra’s cloud-native platform, powerful data model, and intuitive design will be leveraged to facilitate a smooth transition from existing architecture and provide a strong foundation for Symetra’s future.”
Thanks to Socotra’s cloud-native platform and public documentation, Symetra’s technical team can handle the entire implementation process for the new initiative in house— allowing them to move quickly and implement on a short timeline.
“Socotra is proud to accelerate Symetra’s goals for innovation, including the digitization of its product offerings,” said Dan Woods, CEO of Socotra. “With Socotra’s flexible and cloud-native platform, Symetra will achieve an even higher level of service, and rapidly adapt and innovate within the insurance ecosystem for years to come.”
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