Kissterra, the world’s first insurance marketing operating system, announced recently that it has upgraded its Dedicated Marketing OS.
The upgrade includes an improved dashboard for granular targeting as well as an enhanced user interface, enabling insurance marketers to more easily access Kissterra’s actionable insights, increasing efficiency and saving time. The upgrade coincides with the announcement that the company has achieved “centaur” status with ARR of $100M, making it one of only 150 private cloud centaurs in the world.
The Kissterra Dedicated Marketing OS enables insurance carriers to target and customize their marketing efforts. The Marketing OS allows insurance companies to optimize all their digital marketing campaigns on one easy-to-use platform and access a data-driven management system of their entire marketing lifecycle from lead generation to acquisition and beyond. Kissterra’s AI-powered marketing OS provides insurers with total visibility into the acquisition process, identifying the right customers at the right price in full correlation to their expected LTV. This creates the opportunity to increase marketing and distribution efforts while remaining profitable, increasingly important as insurers struggle to increase profitability without raising rates for consumers.
“We’re at an instrumental point in Kissterra’s evolution, from our steady revenue growth, to building out our team, to expanding our overall presence in the US insurance market,” said Ifty Kerzner, Co-Founder and President of Kissterra. “With the enhancement of the Kissterra Dedicated Marketing OS, we will continue to build off our successes to be a key player in the insurance industry. Legacy insurers are realizing their marketing and distribution needs are ripe for disruption, and we’re empowering them to digitize their marketing operations, differentiate customers, and ensure profitability.”
QUICK CATCH-UP
Insurance Edge spoke with Ifty Kerzner from Kissterra recently and asked how insurance marketing can be improved;
“There’s too much scattergun marketing, just blanket sell-to-everyone advertising and marketing, without understanding what it truly costs to acquire each customer. Now we are entering a hard market, with claims costs rising, it’s more important to price the acquisition costs and set that against your claims bills. The key thing is using data to find the profitable customers, not just those who don’t cost much to acquire and keep loyal, but also have a low claims ratio.”
Where can insurers find those customers IE asked;
“The answers are there in your own data. You have tons of it! All you need are tools to understand that data in greater detail. That analytics tech works in any market, any niche. Insurance is already data driven because every insurance brand uses data to price risk, so why not do the same thing with your marketing? Instead of letting marketing teams work on their own, overlay their data with risk pricing on quotes and claims, then you’ll get the bigger picture.”
FUTURE GROWTH
The company’s revenue growth follows a Series A funding round last year of $76M, mainly from Menora Mivtachim Group, one of Israel’s largest insurance companies. The funding propelled Kissterra’s growth in the US insurance market and the company is currently working with over 40 of the leading carriers. In addition, Kissterra also recently expanded its team both in the US and globally, including key executives to fill the roles of CFO, SVP Insurance, and VP of Channel Development.
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