Ledgebrook and Socotra unveil new platform targeting underserved wholesale broker market

The platform aims to serve the underserved wholesale broker market by offering a faster and simpler quoting experience and competitive pricing and risk selection capabilities. It also seeks to streamline operations, improve customer experiences, and accelerate new product launches.

Ledgebrook, an insurtech MGA headquartered in Boston, was established in March 2022 to combine advanced technology and insurance expertise in the excess and surplus (E&S) market. Their objective is to provide a high-quality experience to the wholesale broker community, which has historically been underserved.

The initial product offered on the platform is an E&S GL product with a broad appetite, designed to enhance brokers’ competitiveness through faster quote-to-bind speed and improved customer service.

Gage Caligaris, Founder and CEO of Ledgebrook, expressed optimism about the growth opportunities enabled by Socotra: “We can provide our wholesale broker customers with better, swifter and more innovative insurance solutions than ever before.”

Dan Woods, founder and CEO of Socotra, expressed excitement about Ledgebrook’s utilisation of Connected Core and App Marketplace to expedite product launches and enhance customer experiences.

DataArt, a global software engineering firm, facilitated the implementation of Ledgebrook’s platform. Their collaboration ensured a swift and successful implementation of the Socotra Connected Core and the accompanying ecosystem of insurance applications within a four-month timeframe.