Coronavirus Pandemic Highlights the Need for Efficient Business Operations, the Critical Importance of Data Analytics, and the Danger to Consumers of Being Underinsured
IRVINE, Calif., April 15, 2020 (GLOBE NEWSWIRE) -- Citytwig, a rapidly-growing insurtech that increases efficiency/revenues for the insurance sector, announced a major milestone for the company and its extensive carrier/agency client base to lower customer cost of acquisition and increase revenue per client. Given the rapidly spreading coronavirus, now more than ever the industry requires analytics-driven solutions to generate insights from data to best serve customers in a time when in-person meetings seem incomprehensible. At the same time, the virus has caused the public on a mass scale to become acutely aware of the fragility of life, highlighting the corresponding importance of life, disability and long-term care coverage.
With an unmatched three full years of comprehensive data from nearly one million agents and tens of thousands of members, Citytwig’s smart ML platform is modernizing how the insurance industry maintains and grows its business. Citytwig uses real time data analytics to provide companies with an in-depth look into its book of business to visualize existing client base and pinpoint opportunities for success. This allows the agent to conduct business electronically/remotely with tremendous insight in order to provide the best available products for his/her clients.
“We harness the power of big data analytics to deliver precise and reliable customer insights in an easy-to-understand, visual format for carriers, agencies and agents,” said Mike Kratzer, Founder and CEO, Citytwig. “This highly actionable information results in exceptional operational efficiency and revenue growth, including revenue from new and existing insurance sector end customers,” added Andy Bhushan, Chief Information Officer, Citytwig.
According to predictions from McKinsey & Company, the global insurtech market is expected to grow more than 40 percent by 2023. Citytwig understands the market. The company analyzes, scores and builds reports for current and prospective customers that allow carriers and agents to sell products that are relevant and useful, increasing new business. As stated by General Agent Grant Fraser, CEO of Fraser Financial/MassMutual, “Citytwig meets all of our business needs by creating value through technology and analytics.”
Citytwig’s core mission also involves minimizing the historical gap among male, female and minority insureds. According to the U.S. Bureau of Labor Statistics, there are now 100,000+ more women in the workplace than men, highlighting the need to protect their growing economic importance to families through appropriate life insurance and coverage products.
“We have all entered unprecedented times and the insurance sector will greatly benefit from this insight-driven platform,” said Tanner Kratzer, co-founder, Citytwig. Given the recent outbreak of the coronavirus, where meeting in person with insurance customers is untenable, being able to conduct business remotely and understanding the needs of the end customer through electronic technology is more vital than ever for agents and carriers. This highlights the need for carriers, agencies and agents to step up integration of emerging technologies to keep pace with the changing market and new dynamics of interaction.
Citytwig’s affordable pricing model ranges from $600 to $2,400 annually. Click for more information.
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/858a8b29-eba1-452b-a7ef-4b12a303e631
Citytwig Media Contact:Phillip BergmanViewstream firstname.lastname@example.org 845-728-3984