In the United States customers paid $1.3 trillion for insurance premiums in 2020. Naturally, this number continues to increase annually. Insurance agents are an essential part of the industry’s success, with an estimated 80% of insurance revenue coming from agents.
Prospective insurance customers use social media and online resources to find goods and service providers. Some insurance companies have adopted online services to varying degrees, but most are left without solutions for agent integration. Those insurers and agents without a digital presence and strategy will inevitably lose out to those competitors which do.
Gefen International – Empowering Agent Networks
Insurtech has come to the rescue in the form of Gefen, an Israeli fintech public company setting its sights on the $400 billion dollar agent-based insurance market. Gefen’s award-winning “Moments” platform unites insurers, agent networks, and their customers. The technology increases sales, prospecting and customer retention. Moment’s will transform the way agents do business.
4 ways “Moments” Increases Revenue for Agents and Insurers
Digital transformation with zero TCO
Gefen’s unique transactional revenue model requires no up-front investment or ongoing licensing fees.
Reach new customers with the power of enterprise software
“Moments” instantly launches a branded, online presence with full access to automated social media distribution and publishing tools.
Background automation frees up agent time to focus on sales
“Moments” uses a powerful artificial intelligence engine that analyzes user preferences, behavior and usage. The data drives continuously improved performance and convenience for both agent and customer.
The more updates, the higher the ranking on search engines
Social content published through “Moments” organically increases search engine rankings.
A bright future ahead
Business is booming for Gefen Technologies, but in the realm of market investment, the Insurtech industry is a niche ordinarily within the realm of institutional and well-informed individual investors. Gefen International stock is currently an excellent value for investment.
Gefen International’s (ASX: GFN) 2021 IPO on the Australian Stock Exchange raised $25 million, and today the company has a $69 million market cap. The company reported a profit of $16 million in 2020. The company has grown from 1,500 to 16,500 agents using the platform, with over 123,000 end customers.
- In 2021, Gefen secured contracts with global insurers including TAL, Generali, Manulife, and Lloyd’s. According to industry insiders, Gefen International is expected to continue to continue its’ parabolic market growth throughout 2022.