Case Study: P&C Insurance Company (tech-driven MGA) accelerates growth and saves $32M with Socotra

Tech-driven MGA accelerates growth by migrating entire book of business to Socotra

P&C Insurance Company is a high-growth, tech-driven MGA and insurtech that offers homeowners, dwelling fire, flood, earthquake and expanded personal/commercial lines after a recent acquisition. Facing a legacy core that lacked flexibility and easy integrations, P&C Insurance Company needed a truly cloud-native, configurable platform to support AI/ML integrations, faster product launches, and aggressive growth—so they selected Socotra’s modern core platform.

Socotra migrated P&C Insurance Company’s entire book of business onto its cloud-native core, using well-documented APIs to accelerate integrations and product development. The migration completed in 18 months at roughly 10% of the cost of an alternative, delivering a $32 million cost reduction (≈90% savings), monthly product update velocity, and a 6% reduction in ongoing IT maintenance and support (about $5.4M annual savings today and ~$30M at the target $500M GWP), enabling the projected growth to $500M.