Socotra Unveils Industry’s First No-Code App Marketplace at ITC

Socotra Unveils Industry’s First No-Code App Marketplace at ITC

8 October 2021

Socotra Marketplace is now available in a Partner beta, enabling participants to easily build integrations for the industry-first, no-code app marketplace.

SAN FRANCISCO, Oct. 05, 2021 (GLOBE NEWSWIRE) — Socotra, the enterprise-grade core platform that enables insurers to rapidly develop and deploy innovative products that better serve their customers, today announced its newest offering: Socotra Marketplace. Joined by charter partners Betterview and Snapsheet, the company unveiled Socotra Marketplace during the Modern CoreTech Forum at ITC in Las Vegas.

The first of its kind in the insurance industry, Socotra Marketplace empowers insurers to accelerate the integration of their core systems with a variety of innovative third-party applications and services. Socotra Marketplace offers integration apps that can be deployed instantly by technical or non-technical users and require no custom coding, in stark contrast to the traditional core system marketplaces that require lengthy and expensive IT projects to deploy integrations.

“Socotra Marketplace continues our mission to equip the insurance industry with the same quality of technology we all enjoy in other areas of our lives—whether it’s adding an extension to your browser or a new app to your smartphone,” said Dan Woods, Founder and CEO of Socotra. “Partnerships and integrations are nothing new to Socotra, but we didn’t want to call it ‘Socotra Marketplace’ until the underlying technology met the world’s standard for app marketplaces.”

“Socotra Marketplace is a true game-changer for insurers and insurtech companies alike,” said CJ Przybyl, Co-Founder and Chief Strategy Officer of Snapsheet. “We love that our customers can now integrate Snapsheet’s solutions with Socotra at lightning speed. In addition, our customers will benefit by having easy access to a broad ecosystem that covers an insurer’s every need.”

In addition to a catalog of apps, Socotra Marketplace includes modern tools and cloud infrastructure that enables app creators to build, run, and maintain integration apps faster and more efficiently than has ever been possible. Partners, customers, and systems integrators can build apps for their own use or to share with the Socotra community through the marketplace.

“Modern insurers rely on countless sources of data and analytics to make decisions and deliver standout customer experiences. Socotra Marketplace helps our customers integrate our full suite of actionable insights into their systems without lengthy and expensive custom IT projects,” said David Tobias, Co-Founder and COO of Betterview.

Charter partners for Socotra Marketplace include Avolanta, Betterview, Cape Analytics, Fenris, Omni:us, One Inc, Snapsheet, and Sureify. Insurtechs that wish to build and share integration apps during the Socotra Marketplace Partner beta can learn more and request an invitation by visiting www.socotra.com/marketplace-beta.

About Socotra

Socotra is the modern, enterprise-grade core system that enables global insurers to accelerate product development, reduce maintenance costs, and improve customer experiences. Socotra is trusted by insurers to provide them with modern technology to rapidly develop products that better serve their customers and manage their existing book of business. Socotra’s flexible, radically open, cloud-native solution unifies underwriting, rating, policy management, claims, billing, reporting, and more. To learn more, visit http://www.socotra.com.

About Betterview

Betterview was founded with the mission of helping P&C carriers better identify and manage property risk. It was created with a deep, first-hand understanding of the challenges that carriers have faced in obtaining high-quality, actionable insight. Betterview’s remote property intelligence platform enables carriers to provide a better experience to their insureds and agents while improving their bottom line.

About Snapsheet

Snapsheet is the pioneer in virtual appraisals and a leader in cloud-native claims management software, enabling the most innovative claims organizations to deliver the best experiences for customers. With a focus on engagement, digitization, and intelligent automation, Snapsheet provides unmatched software and processes to improve customer experience, drive greater organizational agility, and deliver transformational benefits through its Snapsheet Cloud software suite and Appraisal Services offerings.

Snapsheet leads the industry in claims innovation including the deployment of the fastest digital auto insurance claims process in the United States. As a trusted innovation partner, Snapsheet works with more than 125 clients, including many of the largest insurance carriers, third-party administrators, MGAs, insurtechs, and sharing economy disruptors. For more information, visit snapsheetclaims.com.

Media Contact:
Liana Porto
347-768-2752
liana@bulleitgroup.com

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