Source: Businesswire

Socotra, a provider of insurance core technology, announced that If P&C Insurance (If), the largest property and casualty insurer in the Nordic region, has successfully launched a car-sharing insurance product on Socotra’s cloud-native platform in only five months. By leveraging Socotra’s flexible core and open APIs, If has rapidly expanded into new geographies and customer segments.

As the largest P&C insurer in the Nordics with $7 billion in gross written premiums (GWP), If has established a reputation for innovation and agility in the insurance industry. With its innovative new car-sharing insurance product, If further strengthens its position within the sharing economy. The fully embedded and API-first solution enables a seamless digital journey for end users, providing peace of mind through customizable features such as on-demand coverage, usage-based pricing, and deductible reduction. This ensures tailored protection precisely when needed, specifically benefiting car-sharing platforms and their users.

“Choosing Socotra was a strategic decision that allowed If to go live quickly while maintaining autonomy,” said Erik Granmar, CEO of Insrt AB, a subsidiary of If P&C. “Socotra’s powerful and flexible policy core empowered our team to easily self-implement an embedded insurance product and connect it to an ecosystem of technology. By partnering with Socotra, If can deliver new products faster and more efficiently, positioning us for greater success in the Nordic and Baltic markets.”

“I applaud the tech-savvy team at If for launching an embedded car sharing product in only five months,” said Dan Woods, CEO of Socotra. “I’m proud that Socotra’s powerful and flexible core platform has enabled If’s rapid deployment and innovative solution, and I look forward to accelerating their growth into new markets.”

Read the full article: https://www.businesswire.com/news/home/20250528510302/en/If-PC-Insurance-Goes-Live-on-Socotra-With-Embedded-Car-Sharing-Product