Piscataway, NJ – September 23, 2021 – OwlSurance, a cloud business unit of ValueMomentum, announced today it has become a strategic partner for Socotra, the first cloud-native core platform for insurers. This partnership gives insurers easy access to advanced cloud technology and exceptional services to rapidly roll out digital-first products with enriched experiences. OwlSurance will support new and existing Socotra customers around the world as a cloud solutions provider.
As a Technology Concierge, OwlSurance helps insurers in building, operating, and maintaining an enterprise-wide technology core that allows them to achieve a scalable digital operating model at a low upfront cost and low ongoing maintenance expenses. These technology cores are crucial as insurers strive to build on their strengths in distribution, segment leadership, digital operations, and ecosystem partnering.
Socotra delivers a powerful combination of cloud-native architecture, open APIs, and a flexible data model to help insurers complete digital transformation 3x faster than legacy systems. With Socotra, insurers can easily launch, update, and scale digital-first products, as well as power engaging customer experiences across the entire policy lifecycle.
“We’re pleased to welcome ValueMomentum’s cloud business unit, OwlSurance, as the newest partner in our modern insurtech ecosystem,” said Ekine Akuiyibo, VP of Business Development and Deployments at Socotra. “ValueMomentum’s rich capabilities and impressive track record of outstanding client service are just a few reasons why this partnership is an attractive value proposition for our shared customers. Together, we look forward to helping insurers of all sizes leverage powerful technology to accelerate digital transformation and unlock new market opportunities.”
“Insurers have to serve more touchpoints than ever before, creating more challenges—but also many more opportunities to delight customers and partners,” said Anant Iyer, President – Markets & Outreach, OwlSurance. “These engagements must be managed holistically, keeping customer and partner relationships and digital engagement journeys in context. A digital-first operating model and a digital tech stack are a necessity for this new era. Socotra’s cloud-native insurance core platform is an integral part of the digital tech stack that insurers need to compete effectively. We are very excited by the possibilities this partnership represents for our mutual customers.”
Socotra is the 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. Learn more about Socotra at www.socotra.com.
OwlSurance, a cloud business unit of ValueMomentum, provides affordable and simplified cloud solutions and enterprise-class services that insurers need to succeed in a digital world. For more information, visit https://www.owlsurance.com.