Socotra has launched Agentic Configuration, a brand new function that enables insurers to construct insurance coverage product configurations inside Socotra’s platform utilizing conversational AI.
This new AI device is claimed to scale back product improvement instances by as much as 50%, prices by 75% and prototype iteration time by 90%.
Socotra not too long ago launched the Socotra MCP Server, which facilitates immediate integration between the Socotra Insurance coverage Suite and AI instruments reminiscent of Claude and Cursor.
Agentic Configuration builds on the Socotra MCP Server, enhancing product configuration capabilities by leveraging AI inside Socotra’s platform.
Based on Socotra, Agentic Configuration goals to simplify the product improvement course of, notably for non-technical customers.
It additionally permits enterprise groups to analyse necessities, configure insurance coverage merchandise and check configurations with out relying closely on technical personnel.
This method addresses frequent challenges in conventional configuration processes, reminiscent of useful resource intensiveness and reliance on technical experience.
Socotra benchmarking claims to point out that the device can speed up time-to-market for insurance coverage merchandise, decreasing configuration and testing timelines and prices.
As well as, the device promotes AI literacy amongst enterprise customers, permitting them to realize sensible expertise with conversational AI, mentioned the corporate.
Socotra chief working officer Ekine Akuiyibo mentioned: “Insurance coverage firms are below immense stress to innovate shortly whereas dealing with a scarcity of technical expertise.
“With Agentic Configuration, insurers can transfer from product idea to testable configuration in weeks as an alternative of months.
“This functionality democratises product improvement, promotes AI literacy and unlocks the creativity of enterprise groups with out sacrificing accuracy or governance.”
The US-based insurtech firm claims that its know-how is versatile and permits insurers to deploy merchandise with out the necessity for customisation.
This functionality builds on options reminiscent of superior information fashions, product inheritance, open APIs and absolutely printed documentation.
Its AI platform helps a variety of insurance coverage merchandise throughout completely different geographies and distribution channels, mentioned the corporate.
Presently, Socotra’s new Agentic Configuration device is out there to all its clients and choose companions.
Earlier this yr, If P&C Insurance coverage, a property and casualty (P&C) insurer within the Nordic area, adopted Socotra with an embedded car-sharing product.
