Define the parametric product structure in Socotra's product configuration files (JSON-based): specify the policy fields, exposure fields, and peril fields relevant to flood parametric triggers (e.g., flood gauge station ID, trigger depth threshold, payout tier)
Upload the product configuration to your Socotra sandbox tenant via the Configuration API (POST to the configuration deployment endpoint); verify the deployment status before testing
Use the Socotra Products API to query the deployed product schema and confirm that your custom parametric fields appear correctly in the policy data model
Implement a plugin (Socotra's plugin architecture allows JavaScript functions triggered at policy lifecycle events) to validate trigger threshold fields at quote and issue time
At trigger event, call the Socotra Policy API to issue a policy transaction (endorsement or claim) with the parametric payout amount calculated externally; pass the payout value as a field in the transaction payload
Test the full lifecycle in sandbox: create a policy, simulate a trigger event with a test payout, verify the transaction is recorded correctly in the policy history
Known gotchas
Socotra's product configuration is code-based (JSON/JS files in a Git-like deployment model); changes require a deployment cycle — live edits are not supported, so plan configuration change windows carefully for production deployments
Parametric products often require custom document generation (payout certificates rather than traditional policy forms); configure Socotra's document template system separately from the data model, as field names in templates must exactly match the configuration field names
Socotra enforces tenant isolation strictly; sandbox and production are completely separate environments with no shared state — always re-test after promoting configuration from sandbox to production
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