INSURANCE TECHNOLOGY

Socotra Acquires Avolanta to Add Unified Agent and Customer Portal to Its Advanced Policy Core

Socotra | May 21, 2022

Socotra_Acquires_Avolanta
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customers are still forced to fill out paper applications with agents and brokers manually entering customer data into outdated web portals. Avolanta enables insurers to solve these issues by seamlessly connecting agents, brokers, and customers with its unified portal.

Avolanta provides the only unified portal purpose-built for insurance

Avolanta was founded in 2018 by insurtech entrepreneur, Chuck Wilson, and insurance veteran, Gavin Dean. With decades of experience in the industry, the founders created Avolanta to provide insurers a better way to streamline processes and create user experiences.

The cloud-native platform allows insurers to rapidly innovate and deploy new products with a unified portal. Agents can collaborate with customers through secure, shared online applications to reduce manual entry. As a result, insurers can deliver customized experiences, automate data capture and analytics, and ultimately drive more conversions and revenue.

Joining Socotra is an exciting next chapter for Avolanta, Avolanta’s frontend technology focused on the user experience is the perfect extension to Socotra’s backend policy core. The combined platform will help insurers quickly develop new insurance products with more convenient buying experiences for any distribution channel—whether it’s agent, embedded, or direct-to-consumer. We can’t wait to see how insurers will leverage Socotra to innovate.”

Chuck Wilson, CEO and co-founder of Avolanta.

The acquisition of Avolanta is a perfect complement to Socotra’s industry-leading policy core, Socotra and Avolanta share a mission to modernize the insurance industry with open APIs, true cloud, and off-the-shelf capabilities that accelerate innovation and speed-to-market. Together, we now offer the complete front-to-back platform that moves the insurance industry forward.”

Dan Woods, founder and CEO of Socotra.

About Socotra
Socotra is bringing unparalleled speed and ease to insurance technology. With Socotra’s modern core platform, global insurers and insurtech MGAs can accelerate product development, reduce maintenance costs, and improve customer experiences. Socotra provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable.

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Safe Harbor Pollution Insurance Partners with Rhode Island Environmental Non-Profit

Save The Bay | January 27, 2022

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CORE INSURANCE

PERFORMANCE BONDING SURETY & INSURANCE BROKERAGE, L.P. ANNOUNCES PARTNERSHIP WITH BRP GROUP, INC.

Baldwin Risk Partners | January 11, 2022

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INSURANCE TECHNOLOGY

Roamly Launches Nationwide Pet Insurance Product

Roamly | March 24, 2022

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INSURANCE TECHNOLOGY

Segal Has Acquired Michigan Insurance Broker Union Services Agency

Segal | June 09, 2022

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