SAN FRANCISCO, April 16, 2020 (GLOBE NEWSWIRE) -- Socotra, a San Francisco-based provider of the most modern, enterprise-grade core platform transforming how insurance products are created and scaled, announced today the company has received ISO 27001 certification. This designation is internationally recognized as the most reputable standard for the establishment and certification of an information security management system (ISMS).
“Core systems are a critical element in an insurer’s security program,” commented Donald Light, Director in Celent’s North America Property/Casualty Practice. “An ISO 27001 certification represents a core system provider’s continuing commitment to meeting rigorous information security standards.”
“Ensuring the security of our customers’ data is a mission-critical focus,” said Socotra founder and CEO Dan Woods. “This certification represents our significant investment and commitment towards information security management, and is a necessity for insurers to trust that their data is secure.”
Socotra’s platform is the insurance industry's first cloud-native backend, and the first with open configuration and APIs that empower insurers to deploy powerful technology with their choice of engineering resources. Socotra makes it easy for insurers to rapidly design and deploy new products and manage their books of business in a cost-effective manner.
Socotra, which has been live in Europe since July 2018, is also General Data Protection Regulation (GDPR) compliant.
About Socotra
Founded in 2014 and based in San Francisco, Socotra is a 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 www.socotra.com.
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