News from the Wire

Ledgebrook goes live with Socotra Connected Core

Thursday, June 01, 2023 — 10:26:54 (EDT)

AUSTIN, Texas – June 1, 2023 – Socotra, the next-generation core platform provider for modern insurers, together with Ledgebrook, an InsurTech MGA focused on the excess and surplus (E&S) market, today announced the launch of Ledgebrook’s new platform, powered by Socotra Connected Core.

The end-to-end platform empowers Ledgebrook to redefine speed and service in the US wholesale broker market by offering a faster and simpler quoting experience, as well as best-in-class pricing and risk selection while streamlining operations, enhancing customer experiences, and accelerating new product launches.

Ledgebrook, a Boston-based InsurTech MGA founded in March 2022, set out to introduce the powerful combination of cutting-edge technology and deep insurance expertise in the E&S space, with the goal of delivering a best-in-class experience to the previously underserved wholesale broker community.

The company is initially launching with a broad-appetite E&S GL product that will give brokers a competitive edge with increased quote-to-bind speed and an enhanced customer service.

"Ledgebrook has fast track growth objectives, which Socotra enables us to accelerate. We can provide our wholesale broker customers with better, swifter and more innovative insurance solutions than ever before, backed by the outstanding service they deserve,” said Gage Caligaris, Founder and CEO of Ledgebrook.

“We are excited to see Ledgebrook leverage the capabilities of Connected Core and App Marketplace to bring their new products to market more rapidly and enhance their customer experience,” said Dan Woods, founder and CEO of Socotra.

Ledgebrook’s platform integration was led by Socotra’s implementation partner, DataArt, a global software engineering firm with over 6,000 professionals in over 25 locations, worldwide, which enabled Ledgebrook to achieve a swift and successful implementation of the platform in under four months.

Yaroslav (Slava) Buga, Vice President at DataArt said: "Our team collaborated closely with Ledgebrook to understand their unique needs and ensure the successful implementation of the Socotra Connected Core and the accompanying ecosystem of market leading insurance applications. We wish them well with their exciting growth ambitions.”

Ledgebrook and Socotra will be sharing the stage to discuss ”Using the Ecosystem to Accelerate Speed to Launch: A Real-World Example,” at the upcoming Insurtech Insights USA, June 7-8 in New York City. Attend the session to gain valuable insights or stop by the Socotra booth 812 during the show.

About Socotra

Socotra brings unparalleled speed, flexibility, and choice that gives insurers more control over their businesses. With Socotra’s complete insurance solutions, insurers and MGAs of all sizes can accelerate product development, reduce costs, and improve customer experiences. Socotra provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable.

To learn more, visit: socotra.com.

About Ledgebrook

Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack. Led by insurance industry veterans, the ultimate vision for Ledgebrook is to become a globally diversified re/insurer built from the ground up with modern technology. Visit us at: ledgebrook.com.

About DataArt

DataArt is a global software engineering firm that takes a uniquely human approach to solving problems. With over 25 years of experience, teams of highly-trained engineers around the world, and deep industry sector knowledge, we deliver high-value, high-quality solutions that our clients depend on, and lifetime partnerships they believe in.

Headquartered in New York City, DataArt now employs over 6,000 professionals in 20+ locations throughout the US, Europe, Middle East and Latin America, with clients including major global brands like Unilever, Priceline, Ocado Technology, Flutter Entertainment, among others.”

For more information: www.dataart.com/

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Source: Company press release.