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Key Management Group Partners with Socotra to Transform the Insurance Industry Through Lowering the Risk and Expense of Developing Innovative Products

Apr 13, 2023
socotra product implementation

New York | April 13, 2023 — Key Management Group (KMG), a provider of niche IT professional services, announced today its strategic alliance with Socotra product implementation, provider of the insurance industry’s most connected core platform, providing unparalleled speed, flexibility, and choice. The alliance aims to help insurance companies innovate and adapt to the rapidly changing industry landscape through the integration of cutting-edge technologies and customized solutions.

KMG specializes in delivering digital transformation services to the insurance industry, enabling clients to optimize their business processes, improve customer experiences, and enhance operational efficiency. With a comprehensive suite of services, including consulting, automation, custom development, digital integrations, and product implementation, KMG empowers its clients to navigate the complexities of the digital world.

Socotra is a trailblazer among insurance software providers, offering an open, cloud-native, and API-first Connected Core platform that is enhanced by its Socotra App MarketPlace, which empowers insurers to rapidly connect to a wide array of apps and data sources that improve every aspect of the insurance value chain.

This partnership between KMG and Socotra will bring together KMG’s deep understanding of the insurance industry and Socotra product implementation state-of-the-art technology platform. The collaboration will allow insurers to harness the power of digital innovation, creating a seamless and engaging customer journey, while streamlining operations and reducing costs.

Ravendra Singh, EVP & Insurance Practice Head of KMG, said, “We are thrilled to partner with Socotra product implementation, a true pioneer in the insurance software industry. By combining our expertise in digital transformation with Socotra’s next-generation platform, we will be able to deliver groundbreaking solutions that enable our clients to stay ahead of the curve in a rapidly changing insurance landscape.”

Michael Benayoun, Director of Partnership at Socotra added, “We are delighted to be partnering with KMG. Their extensive experience in the insurance industry and their commitment to innovation make them the ideal partner for Socotra. Together, we will help insurers accelerate their digital transformation journey while delivering unparalleled value to our joint customers.”

With a shared vision of redefining the insurance industry, KMG, and Socotra are poised to become formidable forces in the market, providing innovative and transformative solutions that drive growth, increase efficiency, and deliver exceptional customer experiences.

About KMG

KMG is a leading provider of IT professional services, specializing in digital transformation for the insurance industry. Through its comprehensive suite of consulting, development, and implementation services, KMG helps insurance companies optimize their business processes, improve customer experiences, and enhance operational efficiency.

For more information, visit www.kmgus.com.

About Socotra

Socotra provides a modern core platform for Integration solutions for insurance, bringing unparalleled speed, agility, and efficiency to carriers, insurers, and MGAs. The platform is best known for its advanced cloud-native technology and standardized, public, open APIs that enable clients to innovate quickly and stay competitive in a fast-changing market. This platform is enhanced by the Socotra App MarketPlace, which is an industry breakthrough because it provides instant integration to an expanding community of data and service providers.

To learn more, visit socotra.com.

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