Company Information

Get to know Socotra

Socotra is a software-as-a-service (SaaS) company that offers a next-generation core platform for insurers. Founded in 2014 by Dan Woods, the company's mission is to modernize the insurance industry by providing a flexible, reliable, and agile alternative to slow, expensive, and outdated legacy systems. Socotra's platform is designed to empower insurers of all sizes—from startups to large enterprises—to rapidly develop and deploy innovative insurance products, streamline operations, and enhance customer experiences through its open APIs and cloud-native architecture.

Industry

Technology Software DevelopmentPRIMARY
Financial Insurance
Financial Other Service

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Socotra

United States

Founded in

2014 (12 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

Security Information :

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Security Information

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.