Case Study: Annex Risk accelerates high-risk homeowners insurance operations with Socotra

Annex Risk launches high-risk homeowners insurance in 6 months with Socotra

Annex Risk, a startup specializing in insurance for homeowners in disaster-prone areas, faced challenges with limited underwriting capacity and a need for modern solutions. To address these hurdles, they partnered with vendor Socotra to implement its modern, API-centric policy administration system.

Socotra's solution enabled Annex Risk to streamline its entire policy lifecycle, including quoting and binding, which was reduced from days to minutes. The implementation allowed the company to autonomously oversee the process and accelerate its time to market, producing a complex digital insurance product within six months. Socotra helped Annex Risk address the scarcity of underwriting capacity in the high-risk homeowners market.

Annex Risk