Socotra

Insurance Technology

Socotra | October 28, 2022

Socotra, the modern core platform provider for innovative insurers, today announced that KOBA Insurance, an insurtech MGA pioneering usage-based insurance products in Australia, is migrating its insurance program onto the Socotra policy core platform. Currently, KOBA is one of the first insurers to offer pay-per-kilometer personal auto insurance in Australia. Since launching nationwide last November, KOBA is rapidly evolving the car insurance narrative; growing 50% month-on-month,...

Core Insurance

CoverTree and Socotra | October 03, 2022

CoverTree, an insurtech MGA based in Michigan, partnered with Socotra, the core platform provider of choice for innovative insurers, to launch easy and affordable insurance for owners, renters, and landlords of manufactured homes. With Socotra, CoverTree can now automate 92% of its applications with straight-through processing, enabling their customers to purchase a policy online in less than three minutes and save up to 40% in premiums. Traditionally, manufactured homes have been...

Insurance Technology

Socotra | May 21, 2022

Socotra, the partner of choice for innovative insurers, today announced the acquisition of Avolanta, a software startup offering the only unified portal purpose-built for the insurance industry. As part of the acquisition, the Avolanta team will join Socotra and Avolanta’s technology will become Socotra Unified Portal. Insurance companies are struggling to deliver the types of digital user experiences that are now common in other industries. Many insurance customers are stil...

Insurance Business Magazine | January 16, 2020

Insurance start-up battleface, which provides travel insurance for unconventional travelers worldwide, has announced that it has successfully closed a seed funding round with backing from strategic and venture capital investors. Fintech Ventures Fund has invested in battleface, joining Greenlight Re and Tangiers Group. The investment will be used to expand software development, hire sales and business-development personnel, and expand battleface’s global reach, the company said. “We ...