Socotra, a cloud-native core platform for insurers, is to partner with provider of intelligent insurance claims automation omni:us.
Socotra said that together with omni:us, it will deliver next-generation capabilities across the entire policy lifecycle to streamline workflows and enhance customer experiences.
Socotra provides modules for underwriting and rating, policy administration, billing, claims and reporting. Insurers can take advantage of Socotra’s open APIs, cloud-native architecture, and flexible data model to rapidly develop and deploy innovative products and reduce total cost of ownership.
omni:us offers a range of products, which the company said it developed in response to the growing demand for more efficient claims processing. These include an AI-powered decision catalogue and machine learning to help claims teams close low-complexity, high-volume claims faster, while improving customer satisfaction.
Socotra said that by leveraging a no-code integration on its marketplace, mutual customers can gain instant access to the omni:us product suite without leaving Socotra’s core platform.
Martin Micko, founder and CCO of omni:us, said, “The combination of Socotra and omni:us represents a winning proposition, bringing a new level of insight and speed that carriers previously only dreamed of. As we seek to broaden the range of customers we serve, we look forward to partnering with Socotra, which has already established its modern core platform with many of today’s insurance carriers.”
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