CAPE Analytics a provider of geospatial intelligence for property risk and valuation, has announced a partnership with Socotra, Socotra (San Francisco), a cloud-native core platform for insurers, to offer carriers a new form of loss-predictive information directly through Socotra’s platform. The integration will be made available on Socotra Marketplace, which that vendor characterizes as the first no-code app marketplace for insurers, capable of powering better underwriting results and more granular policy pricing.
By the terms of the partnership, the two companies will provide joint customers with access to CAPE’s property intelligence data, powered by geospatial imagery, risk-relevant information, and machine learning.
Integrating New Risk Signals into Quoting and Underwriting
“CAPE’s partnership with Socotra will unlock additional opportunities for insurers to quickly and seamlessly integrate an array of new risk signals into quoting and underwriting workflows without waiting for IT bandwidth,” comments Busy Cummings, Chief Revenue Officer, CAPE Analytics. “This integration combines CAPE’s speed and data maturity with Socotra’s robust ecosystem, to help modernize underwriting and straight-through processing for carriers.”
“We are thrilled to welcome CAPE as a charter partner of Socotra Marketplace,” comements Ekine Akuiyibo, VP, Business Development and Deployments, Socotra. “Socotra already enables insurers to easily configure our flexible rating and underwriting engine or build their own proprietary pricing model on top of our platform. With instant access to CAPE’s next-generation property intelligence directly through Socotra, insurers now gain even more powerful tools to improve risk assessment and deliver personalized pricing.”
Source: Insurance Innovation Reporter
