RGAX selects Socotra to power innovation unit

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RGAX, innovation arm of the global reinsurer focusing on life and health industries, announced that Socotra as the policy administration system for its Greenhouse unit.

The software will back development of new life insurance products for Greenhouse, which focuses on next-generation models. The partnership between RGAX and Socotra started in 2017 with the launch of an accidental death product that enabled wearable-tech users to claim $1,000 of accidental death coverage for 12 months at no cost.

Scott Grandmont, COO of Greenhouse and RGAX Vice President shared “Socotra’s platform has enabled us to more quickly design and test innovative approaches while helping to solve problems that many insurance carriers face when looking to address the needs of the modern insurance consumer.”

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Policy adminstration Insurtech