Case Study: CoverTree unlocks the manufactured‑housing market, achieves 90% straight‑through processing and 30% lower TCO with Socotra

CoverTree - Customer Case Study

CoverTree, a venture-backed InsurTech MGA founded in 2020 in Detroit, targets the underserved manufactured housing market but needed to enter quickly with a digital-first, AI-enabled straight-through underwriting and claims experience while keeping customer acquisition and operating costs low. To support custom UIs, third‑party integrations, and rapid growth, CoverTree selected Socotra’s cloud-native policy core platform for its open APIs, pay‑as‑you‑grow pricing, and continuous upgrades.

Socotra implemented its policy admin platform and integrations, enabling CoverTree to launch in six months and deliver a fast online purchase experience in under three minutes. The implementation produced measurable results: ~90% straight‑through processing, 30% lower total cost of ownership versus competitors, about 50% fewer technical staff required, and rapid premium growth (from $40K to $5M GWP within a year with a five‑year target of $100M) — all achieved using Socotra.

CoverTree

Divyansh Sharma

Co-Founder and CTO