TONI Digital | December 23, 2020
TONI Digital, a leading European insurtech provider, has picked Socotra, the main cloud-native insurance center platform, to control the new TONI insurance-as-a-service innovation platform for the white-label insurance market.
TONI Digital has built up an insurance-as-a-service arrangement enabling large corporations to rapidly enter the insurance market, generate income, and leverage existing brand and client bases. Based on Socotra's agile center platform, TONI Digital's new proprietary insurtech service will have the option to automate all aspects of the insurance life-cycle. It will offer profoundly serious insurance charges and integrate with established danger carriers. Back up plans will have the option to furnish clients with easy to understand, completely digital encounters and transparent, affordable insurance products. The service is launching with personal auto insurance and will keep on expanding into different lines of business.
TONI Digital has heavily invested in its new proprietary insurtech platform, which it began creating on Socotra's cloud-native insurance center platform only 10 months ago. By utilizing Socotra's modern product architecture and open APIs, TONI Digital's new insurtech platform has the agility expected to add new insurance products and appropriation partners at a remarkable speed. Subsequently, TONI Digital was able to rapidly configuration, create, and launch a complete, cloud-based service providing corporations with exceptionally customizable insurance products.
“Socotra handed us the essential underlying insurance functionality as a readily developed product on a silver platter,” said Alexander Sanders, TONI Digital CTO. “Integrating the Socotra insurance core using their well-documented APIs was easy. Additionally, we can configure everything ourselves—no phone calls or time-consuming and costly customizations needed. At the same time, Socotra fits perfectly into our vision of TONI developing highly-valuable intellectual property on our own TONI Digital insurance tech platform. As an example, we built our highly-flexible, self-hosted, proprietary pricing engine on top of Socotra’s cloud-native core. We also took a similar approach to developing integrations with 3rd party providers, and creating our customer-facing frontend and features. This hybrid-approach of Socotra’s cloud-native core and our proprietary technologies and integrations is a glimpse of the future of insurance technology.”
“It’s exciting to see what a talented team can build on Socotra’s platform,” said Dan Woods, Socotra CEO. “The TONI Digital team is taking full advantage of Socotra’s extensibility to empower banks, retailers, and other businesses to provide their customers with custom digital insurance products. We’re thrilled to partner with them as they build out the personal auto insurance service and explore additional lines of business.”
About TONI Digital
TONI Digital offers Europe’s leading insurance-as-a-service offering and enables companies and corporations to quickly enter the insurance market without requiring any insurance know-how, insurance licence or insurance IT system. TONI’s proprietary insurance tech platform offers a fully digital and state-of-the-art customer experience in all aspects of the insurance life cycle while achieving unprecedented cost ratios due to its high degree of process automation. To learn more, visit www.tonidigital.ch.
Founded in 2014 and based in San Francisco, Socotra is a modern, enterprise-grade core system that enables global insurers to accelerate product development, reduce maintenance costs, and improve customer experiences. Insurers trust Socotra’s modern technology to rapidly develop products that better serve their customers and manage their existing books of business. Socotra’s flexible, radically open, cloud-native solution unifies underwriting, rating, policy management, claims, billing, reporting, and more. To learn more, visit www.socotra.com.
Cision PR Newswire | September 04, 2020
FastTrack, a leading provider of insurtech solutions for the Life & Disability insurance industry, announced today the completion of their migration to a cloud-computing platform. The project resulted in a transition to Microsoft Azure for their entire suite of solutions and was completed without any service disruption to its customers. Leveraging the hosting platform's ability to handle the multiple coding languages employed by FastTrack demonstrates their continued dedication to using all resources at their disposal to create a flexible, easy-to-use platform for their client base without compromising on security. The new model also allows for a system that will seamlessly scale computing needs to match the growth of FastTrack, who has seen a 60% increase in insurance claims under management over the last 12 months.
High Street Insurance Partners | December 14, 2021
High Street Insurance Partners ("HSIP") announced today that it has acquired Nebraska-based GTA Insurance Group.
GTA Insurance Group provides comprehensive insurance and risk management solutions across Nebraska. It has an extensive agricultural practice and offers business and personal insurance, as well as benefits.
"We are thrilled to have GTA Insurance Group join HSIP, This represents over 30 new offices across Nebraska, which greatly expands our footprint in communities across the Midwest. More importantly, this partnership allows us to provide deep agricultural expertise to our clients."
-Scott Wick, CEO of HSIP.
We are excited to join HSIP. Together we will be able to better serve our clients, our employees, and our communities. We'll also be able to add new clients who will benefit greatly from this partnership and its shared, community focused philosophy.
- Krae Dutoit, President, GTA Insurance Group
HSIP is one of the fastest growing insurance brokerages in North America. The firm has now completed 83 acquisitions since forming the company in mid-2018.
About High Street Insurance Partners
High Street Insurance Partners (HSIP) is a full-service, independent insurance brokerage firm. Founded in 2018, the Traverse City, Michigan-based company provides a broad array of business insurance & risk management; employee benefits & human capital management; financial & retirement services; and personal insurance solutions delivered through community-focused agencies. HSIP employs over 1,700 insurance specialists & consultants in offices based in Arkansas, Colorado, Connecticut, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, & Washington.