Ascend has developed a platform that allows its insurance clients to offer customers end-to-end payment services. These include seamless checkout via a variety of methods, premium financing, payment reminders, and automated payables. In this way it helps cut down burdensome processing time and expenses, and boosts marketing efforts by improving retention - all in all making for a more efficient financial infrastructure for the insurance sector.
The company is already live in all 50 states, and is now on a talent recruitment and platform expansion boom with the help of new funding. Perhaps most interestingly, it’s taken on debt financing to fund a buy-now-pay-later premium financing model.
This may prove to be the feather in this fledgling insurtech company’s cap: it’s helped boost client’s financing adoption rates from 40% to 80% in some cases, and chimes with a broader and growing consumer preference for BNPL schemes.
Freddie
Company Specialist at Welcome to the Jungle