Latest news with #ErikGranmar
Yahoo
3 days ago
- Automotive
- Yahoo
If P&C Insurance launches car sharing product on Socotra's cloud platform
If P&C Insurance, a property and casualty (P&C) insurer in the Nordic region, has gone live on Socotra with an embedded car sharing product. The product, now available on Socotra's cloud-native platform, was brought to market within a five-month period. Socotra is a policy and billing technology platform that helps insurers launch products and updates with the help of cloud technologies and application programming interfaces (APIs). The car sharing insurance product is designed to provide a digital experience with features that cater to the needs of car sharing platforms and their users. These include on-demand coverage, usage-based pricing and options for deductible reduction, aimed at delivering customised protection. The initial phase of the partnership involved a five-month proof of concept, where If P&C self-implemented the insurance product on Socotra's platform, integrating it with their systems for payments, claims, accounting and reporting. If intends to continue leveraging Socotra's open APIs and the platform's configurable nature for future product updates and integrations. Socotra CEO Dan Woods said: 'I applaud the tech-savvy team at If for launching an embedded car sharing product in only five months. I am proud that Socotra's powerful and flexible core platform has enabled If's rapid deployment and innovative solution, and I look forward to accelerating their growth into new markets.' Erik Granmar, CEO of If P&C's subsidiary, Insrt AB, stated: "Choosing Socotra was a strategic decision that allowed If to go live quickly while maintaining autonomy. Socotra's powerful and flexible policy core empowered our team to easily self-implement an embedded insurance product and connect it to an ecosystem of technology. 'By partnering with Socotra, If can deliver new products faster and more efficiently, positioning us for greater success in the Nordic and Baltic markets." In March this year, If P&C announced its first business release on the Guidewire Cloud Platform, utilising Guidewire InsuranceSuite. The Swedish insurer reports $7bn (Skr67.5bn) in gross written premiums. "If P&C Insurance launches car sharing product on Socotra's cloud platform " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Wire
5 days ago
- Automotive
- Business Wire
If P&C Insurance Goes Live on Socotra With Embedded Car-Sharing Product
SAN FRANCISCO--(BUSINESS WIRE)-- Socotra, the leading provider of insurance core technology, announced today that If P&C Insurance (If), the largest property and casualty insurer in the Nordic region, has successfully launched a car-sharing insurance product on Socotra's cloud-native platform in only five months. By leveraging Socotra's flexible core and open APIs, If has rapidly expanded into new geographies and customer segments. As the largest P&C insurer in the Nordics with $7 billion in gross written premiums (GWP), If has established a reputation for innovation and agility in the insurance industry. With its innovative new car-sharing insurance product, If further strengthens its position within the sharing economy. The fully embedded and API-first solution enables a seamless digital journey for end users, providing peace of mind through customizable features such as on-demand coverage, usage-based pricing, and deductible reduction. This ensures tailored protection precisely when needed, specifically benefiting car-sharing platforms and their users. "Choosing Socotra was a strategic decision that allowed If to go live quickly while maintaining autonomy," said Erik Granmar, CEO of Insrt AB, a subsidiary of If P&C. "Socotra's powerful and flexible policy core empowered our team to easily self-implement an embedded insurance product and connect it to an ecosystem of technology. By partnering with Socotra, If can deliver new products faster and more efficiently, positioning us for greater success in the Nordic and Baltic markets." The partnership began with a 5-month proof of concept, in which If self-implemented the product on Socotra and fully integrated it with their existing infrastructure for payments, claims, accounting, and reporting. Going forward, If will leverage Socotra's open APIs and well-defined and reusable configuration to independently update products and integrations, increasing their agility and reducing costs. 'I applaud the tech-savvy team at If for launching an embedded car sharing product in only five months,' said Dan Woods, CEO of Socotra. 'I'm proud that Socotra's powerful and flexible core platform has enabled If's rapid deployment and innovative solution, and I look forward to accelerating their growth into new markets.' About Socotra Socotra is the most powerful policy and billing technology in the insurance industry. Over 40 insurers worldwide trust Socotra to deliver the fastest product launches and updates, unrivaled data access and control, and the best support for insurance at massive scale–all for the lowest total cost of ownership. With true cloud and open APIs, Socotra is the most mature insurance core platform on the market. Learn more at About If P&C Insurance If is the leading property and casualty insurer in the Nordic region, with over 3.7 million customers in the Nordic and Baltic countries. If offers a full range of P&C insurance solutions and services to a broad customer base, from private individuals to large corporate customers. If operates on a pan-Nordic basis leveraging both scale and capabilities across all areas in If. If's key success factor is continuous improvement of its operations.
Yahoo
5 days ago
- Automotive
- Yahoo
If P&C Insurance Goes Live on Socotra With Embedded Car-Sharing Product
Socotra's Flexible Core and Open APIs Enabled If P&C Insurance to Self-Implement Product in Only Five Months SAN FRANCISCO, May 28, 2025--(BUSINESS WIRE)--Socotra, the leading provider of insurance core technology, announced today that If P&C Insurance (If), the largest property and casualty insurer in the Nordic region, has successfully launched a car-sharing insurance product on Socotra's cloud-native platform in only five months. By leveraging Socotra's flexible core and open APIs, If has rapidly expanded into new geographies and customer segments. As the largest P&C insurer in the Nordics with $7 billion in gross written premiums (GWP), If has established a reputation for innovation and agility in the insurance industry. With its innovative new car-sharing insurance product, If further strengthens its position within the sharing economy. The fully embedded and API-first solution enables a seamless digital journey for end users, providing peace of mind through customizable features such as on-demand coverage, usage-based pricing, and deductible reduction. This ensures tailored protection precisely when needed, specifically benefiting car-sharing platforms and their users. "Choosing Socotra was a strategic decision that allowed If to go live quickly while maintaining autonomy," said Erik Granmar, CEO of Insrt AB, a subsidiary of If P&C. "Socotra's powerful and flexible policy core empowered our team to easily self-implement an embedded insurance product and connect it to an ecosystem of technology. By partnering with Socotra, If can deliver new products faster and more efficiently, positioning us for greater success in the Nordic and Baltic markets." The partnership began with a 5-month proof of concept, in which If self-implemented the product on Socotra and fully integrated it with their existing infrastructure for payments, claims, accounting, and reporting. Going forward, If will leverage Socotra's open APIs and well-defined and reusable configuration to independently update products and integrations, increasing their agility and reducing costs. "I applaud the tech-savvy team at If for launching an embedded car sharing product in only five months," said Dan Woods, CEO of Socotra. "I'm proud that Socotra's powerful and flexible core platform has enabled If's rapid deployment and innovative solution, and I look forward to accelerating their growth into new markets." About Socotra Socotra is the most powerful policy and billing technology in the insurance industry. Over 40 insurers worldwide trust Socotra to deliver the fastest product launches and updates, unrivaled data access and control, and the best support for insurance at massive scale–all for the lowest total cost of ownership. With true cloud and open APIs, Socotra is the most mature insurance core platform on the market. Learn more at About If P&C Insurance If is the leading property and casualty insurer in the Nordic region, with over 3.7 million customers in the Nordic and Baltic countries. If offers a full range of P&C insurance solutions and services to a broad customer base, from private individuals to large corporate customers. If operates on a pan-Nordic basis leveraging both scale and capabilities across all areas in If. If's key success factor is continuous improvement of its operations. View source version on Contacts Paige Comishpcomish@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
