Through this partnership, Jetty will integrate its two key products—Jetty Deposit, a surety solution, and Jetty Protect, a renters insurance product—onto Socotra’s cloud-native platform. This integration will support Jetty’s operations in surety, renters insurance, and complex transactions related to personal leases.
Suleiman Sukkar, VP of Product Delivery at Socotra, highlighted the benefits of the partnership: “Socotra is the system of record that enables you to move forward instead of holding you back. Insurers can create and manage products without costly workarounds and customisations, with enforced data integrity and traceability. We are thrilled to see Jetty succeeding with Socotra, and we look forward to a long and fruitful collaboration.”
Since switching to Socotra, Jetty has seen its policy binding process become four times faster, with similar improvements in financial reporting, transitioning from a daily batch system to nearly instantaneous reporting.
The increased speed and reliability enable Jetty to meet reporting requirements more efficiently and streamline policy data usage for underwriting analysis. Jetty sought a platform that could offer easy data access and accelerate business processes without compromising reliability.
The company needed a system that could seamlessly integrate with external platforms, provide native API support, and enhance digital experiences. Jetty found that Socotra fulfilled these requirements, offering integration with key external platforms such as Stripe and Snapsheet, along with robust API capabilities and real-time bulk data access.
Junaid Warwani, Head of Product Engineering at Jetty, concluded: “Socotra’s expansive APIs and flexible configuration helped us deliver on our specific product needs without sacrificing engineering simplicity.”
