How Socotra brought agility to Australia’s largest insurer.

When IAG, Australia’s largest general insurer, decided that it was time to update and transform IAG Satellite’s business strategy, the company selected Socotra as the new model’s core technology platform.

Discover how:
  • Socotra’s agile platform cut implementation time in half allowing IAG to launch Poncho Insurance in only ten months.
  • Socotra’s open APIs allowed for easy integration with other partners in IAG Satellite’s Accelerator model.
  • IAG’s modern insurance product better served its customers, earning them a 25-point improvement in customer NPS.
  • IAG achieved improved profitability of portfolio by over $70 million and a 30-point reduction in loss ratio over 18 months.
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[Socotra] is super flexible and low-cost allowing us to continually improve the product and deliver it at a great price to customers.
Phil Wilson-Brown, Executive Manager, IAG Satellite