AUSTIN, Texas–(BUSINESS WIRE)–Players Health.
Insurance plays a huge part in the life of a sports team, and it would be impossible for a team to play without it. The range of risks faced by the group means that they need to obtain several types of insurance, including commercial policy and emergency medical care. Finding exactly the right group covers quickly and efficiently is difficult. The new Players Health product combines comprehensive coverage, exposure for managers and officers, and sports health care, and represents the company’s success in addressing this issue, expanding the growing trend of integrated insurance.
This first-of-its-kind insurance policy is managed by Socotra, which enabled the company to develop and launch the most complex product in just three months. The production of the product, which includes three types of insurance, which has 400 forms, and was established in 41 states, would have taken one or two years using traditional methods and technologies.
“I applaud Players Health for its work to help sports organizations create a safe and accessible environment for athletes—especially young athletes,” said Dan Woods, CEO of Socotra. “We are pleased that Players Health selected Socotra Policy Core. Socotra offers insurers of all sizes the only proven and API-driven way to live. Players Health and other insurtech MGAs can bring complex insurance products to market faster, cheaper, and great flexibility for future growth.”
Selected as a startup by 27 carriers and MGAs for insurtech in the last 18 months, Socotra offers an open and sustainable platform for the insurance industry with the power to meet the needs of today’s professionals. With Socotra, insurers can start any insurance with external expertise or integrate through open APIs any custom or third-party technology in insurance.
Players Health is committed to delivering their new products through digital and incorporating rapidly changing content, rules, and features. They chose BizDynamicscloud business unit for The opinion of the company ValueMomentum, Inc. is an authorized partner of Socotra, to deploy their cloud computing engine and digital communication platform, which is seamlessly integrated with Socotra.
“Players Health is one of the first MGAs to allow retailers to market their sports and fitness business through the Internet,” said Tyrre Burks, Founder and CEO of Players Health. “This first digital strategy is only possible with the integration of BizDynamics’ digital engagement platform and Socotra Policy Core, which made it quick and easy to implement our unique sports insurance. Together, Socotra and BizDynamics have been reliable partners, and we look forward to expanding the reach of Players Health and growth with them in the future.
Players Health provides the latest technology, risk management, and insurance to protect young athletes and provide them with a safe environment to play the sport they love. With over 400,000 non-sports organizations and 45 million children participating in sports in the US, there is a great need for these organizations to take action and put the safety and health of athletes first. Players Health works with thousands of sports organizations, such as US Youth Soccer, NFL Flag Football, i9 Sports, and USA Cheer.
“Partnering with Socotra and BizDynamics aligns well with our overall strategy,” said Sandeep Bajaj, Chief Information Officer of Players Health. “We are excited to work with Socotra and BizDynamics to deliver API-enabled technology tools built on a modern cloud architecture that will drive faster sales and agility and allow us to focus on business and customer experience.”
BizDynamics provided support services, as well as a digital communication platform, which serves as the basis for the communication strategies of Players Health as an insurance provider. Players Health also partnered with Socotra and BizDynamics to launch a new sports and health insurance program in Canada in two months.
“We at BizDynamics are excited to help Players Health provide first-rate information to their unique insurance team,” said Anant Iyer, President of Markets and Outreach at BizDynamics. “The integration of the BizDynamics digital platform on top of the Socotra Policy Core and our measurement engine has given Players Health a simple way to sell and work processes and for customers to manage their risks. We were able to provide this advanced technology in a unique time. We look forward to helping Players Health continue to grow. their digital vision and complementary services, including integrated, sports insurance.”
Socotra brings unparalleled speed and flexibility to insurance technology. With Socotra’s modern platform, global insurers and insurtech MGAs can accelerate product development, reduce maintenance costs, and improve the customer experience. Socotra offers open APIs, a data-agnostic data model, and external capabilities to manage the entire life cycle process, making insurance innovations faster, easier, and cheaper. For more information, visit socotra.com.
About Players Health
Minneapolis-based Players Health is a sports technology platform that provides digital risk management services, reporting tools and insurance to sports organizations to adapt to changing sports and positions. Striving to create the safest environment for athletes, Players Health sees the health and safety of athletes as a top priority in today’s sport. For more information, visit www.playershealth.com.
BizDynamics, the cloud business of ValueMomentum, Inc., provides affordable and simple cloud solutions and business services that insurers need to succeed in the digital world. For more information, visit www.bizdynamics.com.