Socotra Sets New Standards in Insurance Technology Reliability
Socotra Achieves Remarkable Reliability Metrics for 2024
Socotra, a leader in cloud-native insurance core technology, announced impressive reliability metrics for the upcoming year. Customers utilizing Socotra's platform have experienced an average of less than 32 minutes of downtime for both planned and unplanned events. This performance is a testament to the innovative upgrades that Socotra consistently delivers, with around 50 backwards-compatible enhancements implemented throughout the year.
Unmatched Industry Reliability
For the second consecutive year, Socotra stands out as the sole provider in the insurance cloud technology sector to disclose such significant reliability performance. Notably, customers saw an outstanding average uptime of 99.9941%, ensuring that services remain uninterrupted and dependable.
Consistent Performance Metrics
The latest report shows that the least reliable customer on the platform still achieved an impressive uptime of 99.8867%. This consistency illustrates Socotra's commitment to maintaining a robust and resilient infrastructure for all clients.
Minimized Downtime
In addition to an average of less than 32 minutes of downtime, planned maintenance activities accounted for 50 necessary upgrades throughout the year. This deliberate approach to system enhancements minimizes disruption to users, positioning Socotra as a benchmark in the industry.
Innovative Cloud-Native Design
Socotra's cloud-native architecture is instrumental in providing a modern solution for insurance carriers that need to adapt quickly to market demands. This design not only ensures high availability but also maintains responsiveness to customer needs.
Enhancing Unplanned Downtime Management
By keeping all customers up to date with the latest version without any custom modifications, Socotra automates comprehensive testing of its features for all users. This results in enhanced stability and security, with the added benefit of built-in redundancy across multiple availability zones, further bolstered by multi-site failover capabilities.
Streamlining Planned Downtime
Socotra innovatively manages planned downtime by delivering small, frequent updates that prevent disruptions. Most API updates are seamlessly backwards compatible, with any necessary breaking changes being communicated well in advance to prepare users effectively.
Commitment to High Performance
Alongside its reliability, Socotra also claims the title for the highest performance metrics within the industry. Recently published data, audited by Amazon Web Services (AWS), confirms these findings in the 2024 performance report.
About Socotra
Socotra has established itself as the leading provider of policy and billing technology across the insurance sector. More than 40 insurers globally trust Socotra to deliver swift product launches and updates, unrivaled data access, and support for expansive scaling—all while maintaining the lowest total cost of ownership. With a commitment to innovation and efficiency, Socotra's platform leverages cloud technology and open APIs, solidifying its position as the most advanced insurance core system available today. To learn more, visit socotra.com.
Frequently Asked Questions
What were Socotra's reliability metrics for 2024?
Socotra reported an average uptime of 99.9941% with less than 32 minutes of downtime for all customers combined.
How does Socotra ensure minimal downtime?
By automating testing and delivering regular upgrades without custom versions, Socotra keeps clients on the latest system for enhanced reliability.
Why is Socotra significant in the insurance technology space?
Socotra is pioneering in its transparency regarding performance metrics and has set new industry standards for system reliability.
What is the role of cloud-native design in Socotra's offerings?
The cloud-native architecture allows for quick updates, high reliability, and responsiveness to changing market demands.
Where can I find more information about Socotra?
For additional details about Socotra's offerings, you can visit their official website at socotra.com.
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