Socotra’s rating engine gives both P&C and life, health, and annuities carriers the power and agility to bring the right pricing to the right market at the right time. Whether your business requires highly complex pricing models using multiple sources of data or high-volume rapid quotes for multi-channel distribution, Socotra rating will modernize your approach.
Socotra supports the complex rating and real-time performance needed for all of your lines. Easily design and update pricing as needed with Socotra’s modern approach to rating algorithms, rules, and table management.
With open APIs and data integration, insurers can seamlessly connect to external systems, whether it’s integrating your internal legacy rating engine, pulling in experience rating data, or using third-party lookups to pre-fill data for efficient, accurate quoting.
With our enterprise-grade policy transaction engine and unmatched data accessibility, you can easily track and review how rates are calculated. Socotra offers clear and transparent rating logic, enabling you to effectively manage compliance and regulatory needs.
No specialized knowledge or bespoke programming languages required – ANY software developer can configure and implement Socotra right now. Plus, our core platform offers built-in encryption for your customer data and end-to-end platform security, and Socotra maintains ISO 27001 and SOC 1 Type 2 certification.
Adarsh Rachmale
CEO, CoverTree
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Built from the ground up as a true SaaS platform, Socotra gives our customers the benefits of world-class application architecture.
Create differentiated insurance products quickly and easily, with the full power of the insurance ecosystem at your fingertips for rapid innovation.
Say goodbye to complex custom development and hello to efficiency. Our open APIs let you focus on delivering exceptional products and services.
The industry’s most frequently updated PAS is also the industry’s more reliable PAS, with weekly updates and >99.995% uptime.
State-of-the-art encryption, access controls, and continuous monitoring.
Multi-tenancy and continuous upgrades with zero downtime.
Effortlessly meet and exceed complex compliance requirements.
Speed your new and updated products to market, streamline workflows, and improve operational response time while reducing TCO.
Take advantage of our simple configuration, open APIs, and App MarketPlace™ that offers value-added insurance apps and data services so you can focus on your unique business differentiators.
Recognized by global organizations as an award-winning company and leader in innovation
Test our platform by configuring a usable insurance product you can bring to market on day one.
