Mutual of Omaha, a Fortune 500 insurer, has expanded its partnership with Socotra, a provider of cloud-native insurance technology, to migrate additional business lines onto Socotra’s core platform as part of its ongoing digital modernization strategy.
The expanded relationship builds on a collaboration that began in 2018 when Mutual of Omaha initiated efforts to modernize its policy operations by implementing Socotra. The new phase will see business lines including long-term care, critical illness, and supplemental health moved to the platform.
By consolidating these operations onto a single, modern core platform, Mutual of Omaha aims to reduce operational complexity, shorten product launch cycles, and enhance its ability to adapt to evolving customer needs. This strategic move is also intended to improve the insurer’s capacity to comply with changing regulatory requirements, ensuring more agile service for its customers.
Brian Poppe, Senior Vice President, Income and Wealth Planning Solutions at Mutual of Omaha, stated, “Socotra has given us agility and scalability to better serve our policyholders and quickly adapt to market changes. We’re confident in Socotra’s ability to deliver innovative solutions that align with our growth objectives.”
Socotra’s platform leverages Amazon Web Services (AWS), enabling Mutual of Omaha to modernize its technology stack and provide its teams with access to contemporary technologies. Socotra supported this migration project with its experienced engineers, facilitating collaboration and positive outcomes.
Dan Woods, CEO of Socotra, commented, “The team at Mutual of Omaha has combined their deep expertise in insurance with a strong vision for modernizing their technology and operations. With this expanded relationship, we’re excited to continue driving value, innovation, and efficiency for Mutual of Omaha.”
Mutual of Omaha, founded in 1909, offers a range of insurance and financial products across the United States. Socotra provides policy and billing technology, trusted by over 40 insurers globally, emphasizing fast product launches, data access, and scalability.
