Snapsheet and Socotra Launch Joint Platform Solution to Deliver Modern Experiences Across the Entire Policy Lifecycle

Leveraging cloud-first, API-driven platforms from Snapsheet and Socotra, the policy and claims tech stack helps insurers stand up modern and flexible next-generation products in as little as 10 weeks

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Snapsheet

Sep 30, 2021, 08:00 ET

CHICAGO and SAN FRANCISCO, Sept. 30, 2021 /PRNewswire/ -- Snapsheet, the pioneer of virtual appraisals and an emerging leader in cloud-native claims management software, and Socotra, the first cloud-native insurance core platform, today announced a joint platform solution built in the cloud, which allows insurers to quickly deliver and scale new products to drive more efficient, digital-first experiences spanning the entire policy lifecycle, from quote to claim.

By providing a modern, enterprise-grade core system, Socotra enables insurers to accelerate product development, reduce maintenance costs, and improve customer experiences. Snapsheet Claims software provides all the tools required for fully digitized, end-to-end claims management in one system, including automated assignment of work, omnichannel digital communications, and digital payment. The software integrates seamlessly with Socotra's core system with out-of-the-box workflow configurations, enabling carriers to spin up new products and scale a modern claims operating model within weeks – not months or years.

"Through our integration with Socotra, carriers can launch products faster with a fully configurable suite of SaaS solutions, ultimately making the end-to-end experience easier and more automated for insureds," said CJ Przybyl, chief strategy officer and co-founder at Snapsheet. "We are excited to now easily offer a full-featured claims platform for Socotra customers at the click of a button."

"We are thrilled to work alongside Snapsheet to further our mission to empower insurers to develop and distribute products that better serve their customers," said Dan Woods, chief executive officer and founder at Socotra. "By integrating with Snapsheet's cloud-first claims technology, we provide a modern tech stack that simplifies the entire policy lifecycle, empowering insurers while saving them time and money. "

High-growth insurtech company Bamboo Insurance is one of the first users of the joint solution. "Our goal is to leverage state-of-the-art technology to meet the evolving needs of our customers," said John Chu, chief executive officer and founder at Bamboo Insurance. "The offering from Snapsheet and Socotra was quick to implement and provides flexibility for our changing needs. Since we began using it, we've been able to leverage automation in new ways to significantly enhance overall customer satisfaction without escalating expenses."

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.

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. 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.

SOURCE Snapsheet