Socotra operates as a company providing technology solutions in the insurance industry. The company offers a range of products that help insurers accelerate product development, reduce maintenance costs, and improve customer experiences. It primarily serves the insurance industry. It was founded in 2014 and is based in San Francisco, California.
Socotra's Product Videos
ESPs containing Socotra
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The claims triage software market provides advanced tools and technologies to facilitate the triage process in insurance claims management. Claims triage involves the initial assessment and categorization of insurance claims upon first notice of loss to determine the appropriate level of attention, resources, and processing needed for each claim. Triage solutions leverage data analytics, artificia…
Socotra's Products & Differentiators
Socotra Connected Core
The only true cloud-native insurance platform, productized with publicly published open APIs and seamless automatic updates. Built to scale as your business grows, Socotra Connected Core accelerates your ability to bring innovative ideas to market while eliminating the inflexibility and expense of customized legacy software. Lower your total cost of ownership and get the control and flexibility needed to compete in today’s insurance market.
Research containing Socotra
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Socotra in 7 CB Insights research briefs, most recently on Aug 7, 2023.
Expert Collections containing Socotra
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Socotra is included in 4 Expert Collections, including Insurtech.
Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Latest Socotra News
Nov 8, 2023
Using a combination of Cloverleaf and its partner Socotra’s technology, Players Health is poised to elevate its data-driven strategies and bolster its services for sports organizations. Players Health , a Minneapolis-based provider of insurance solutions prioritizing athlete health and safety, has selected Cloverleaf Analytics ’ (Austin, Texas) Insurance Intelligence platform to further enhance its capabilities. Already a customer of Cloverleaf partner Socotra ’s insurance technology, Players Health’s selection of Cloverleaf’s platform signifies the company’s commitment to leveraging advanced analytics for optimal business performance to support its mission of providing the safest environments for athletes, according to a Cloverleaf statement. Players Health describes its role as using state-of-the-art technology, risk management, and insurance products to help protect young athletes and give them safe places to play the sports they love. The company notes that, with over 400,000 amateur sports organizations and 45 million children playing an organized sport in the U.S. today, there is a significant need for these organizations to step up and put the safety and wellness of athletes first. Players Health works with several thousand sports organizations, such as U.S. Youth Soccer, NFL Flag Football, and 3Step Sports. Along with providing background checks as a first line of defense, the company also provides organizations with training in Abuse Prevention, Sudden Cardiac Arrest, and Concussions to help mitigate risk for their clients. In embracing Cloverleaf Analytics’ Insurance Intelligence platform, which includes artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) capabilities integrated with Socotra, Players Health is poised to elevate its data-driven strategies and bolster its services for sports organizations, the Cloverleaf statement asserts. By harnessing the power of insurance intelligence, the vendor relates, Players Health aims to streamline operations, enhance risk assessment, provide more tailored insurance quotes, and ultimately deliver an even higher standard of care and protection to their valued clients. Pramodh Lakshmipathy, Chief Product Officer, Players Health. Providing Actionable Insights Players Health already benefits from Socotra’s cloud-based insurance platform which Cloverleaf describes as enabling seamless policy management, claims processing, and underwriting processes. Cloverleaf Analytics says its platform will further enhance Players Health’s value proposition by providing actionable insights derived from data analytics, AI, ML, and NLP to optimize risk assessment and improve decision making. “We are excited to integrate Cloverleaf Analytics’ cutting-edge Insurance Intelligence platform with Socotra to reinforce our dedication to athlete well-being and streamline our operations,” said Sandeep Bajaj, Group CIO, Players Health. “This strategic move empowers us to make data-driven decisions, optimize our insurance offerings, and better serve the sports community, ensuring a safer and healthier environment for all.” “With the implementation of the Cloverleaf Analytics platform, we are poised to unlock the full potential of our data assets, allowing us to develop and deliver impactful products and services that cater to the unique needs of our customers,” comments Pramodh Lakshmipathy, Chief Product Officer, Players Health. Mike Benayoun, Director of Partnerships, Socotra. Socotra’s insurance platform has been a foundational element of Players Health operations, providing agility and scalability for their insurance processes, according to the Cloverleaf statement. The integration of Cloverleaf Analytics’ Insurance Intelligence adds a layer of sophisticated analytics, enabling Players Health to extract actionable, near-real-time insights from its data and make more informed business decisions, the statement continues. Crucial Step in Business Transformation “Players Health made a crucial step in their business transformation by choosing Socotra, and we are thrilled to see them extend their capabilities by integrating Cloverleaf Analytics’ Insurance Intelligence platform,” said Mike Benayoun, Director of Partnerships, Socotra. “This collaboration demonstrates the importance of combining innovative technologies to drive efficiency and deliver enhanced value to the insurance industry.” Michael Schwabrow, EVP, Sales & Marketing, Cloverleaf Analytics. Cloverleaf Analytics, known for its advanced analytics solutions tailored for insurance, is honored to welcome Players Health as a customer. This partnership represents a fusion of expertise, with the shared goal of leveraging data-driven strategies to transform the insurance landscape. “We warmly welcome Players Health to the Cloverleaf family as they integrate our Insurance Intelligence platform with Socotra’s innovative, cloud-based core systems technology. Together, we aim to redefine how data analytics can shape insurance offerings and safety for athletes,” comments Michael Schwabrow, EVP, Sales and Marketing, Cloverleaf Analytics. “We are committed to supporting Players Health in their mission to provide superior insurance solutions to the sports community.”
Socotra Frequently Asked Questions (FAQ)
When was Socotra founded?
Socotra was founded in 2014.
Where is Socotra's headquarters?
Socotra's headquarters is located at 33 New Montgomery Street, San Francisco.
What is Socotra's latest funding round?
Socotra's latest funding round is Series C.
How much did Socotra raise?
Socotra raised a total of $84.2M.
Who are the investors of Socotra?
Investors of Socotra include 8VC, MS&AD Ventures, Nationwide Ventures, Portage, Brewer Lane Ventures and 4 more.
Who are Socotra's competitors?
Competitors of Socotra include Wefox, Boost, Root, Duck Creek Technologies, Particeep and 7 more.
What products does Socotra offer?
Socotra's products include Socotra Connected Core and 4 more.
Who are Socotra's customers?
Customers of Socotra include Lavalier (Berkley Asset Protection).
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