Case Study: IAG Satellite achieves rapid Poncho Insurance launch and major profitability gains with Socotra

How Socotra brought agility to Australia’s largest insurer

IAG Satellite, the accelerator arm of Insurance Australia Group, needed to modernize its technology and rapidly launch a customer‑centric digital auto product (Poncho Insurance) as part of a new “Accelerator” model. Facing long timelines with legacy core systems, IAG Satellite selected Socotra as the core insurance platform to provide a cloud‑native, SaaS foundation with open APIs and easy configurability.

Socotra delivered an end‑to‑end core (underwriting, billing, policy management and security) that integrated with partners like Salesforce and Mulesoft, enabling Poncho to go live in ten months instead of the two years a legacy implementation would have required. With Socotra, IAG Satellite now makes product changes in minutes, has shipped 300+ updates, and realized measurable impact: improved portfolio profitability by over AU$70 million, a 30‑point reduction in loss ratio over 18 months, a 25‑point NPS gain, and industry recognition via a Celent Model Insurer award.

IAG Satellite

Phil Wilson-Brown

Executive Manager