ASSURANCE’S $2.35 BILLION EXIT: THE LARGEST IN INSURTECH HISTORY
In 2016, Assurance started building a software platform that connects insurance shoppers to independent agents. Customers see search ads online and contact Assurance. Meanwhile, agents are logging in to the platform, on their own time, and awaiting calls. The Assurance platform then connects the shoppers to agents, and agents sell them personalized products that address the shopper’s needs.
Fast forward to September of 2019, when Prudential purchased Assurance for $2.35 billion, the largest exit of the year, and in insurtech history.
When I joined Assurance as their Marketing Director in November of 2018, they were just coming out of stealth mode. The platform build was ready for prime time, and it was time to find agents to sign up and start serving our shoppers. My purpose was to recruit and sign up agents. I created an acquisition strategy using external recruiting sources, and testing and evolving the conversion funnel that attracted more than 6,000 agents.
While recruiting, I was tapped to run creative development because of my creative director background. While the company was considering suitors, I scripted and videos that illustrated the customer/agent flow, as well as training videos for our agents and Guides.
As my role evolved, I hired someone to handle acquisition so I could focus on retention. My retention strategy, and supporting work, includes automated emails, agent testimonials and videos, and a monthly agent newsletter.
With no internal creative staff, it was up to me to find support for these initiatives. I was fortunate to find and manage great partners, including Ascender, Clyde Golden, and Dana Smitham.
This video was created to illustrate the shopper journey one takes when choosing to find coverage through Assurance. I conceived, wrote and directed this video. (The shopper name and information is fictitious.)
This video reenacts how a shopper moves between a call with a Guide, the transfer to an agent, and then follow up assistance. I conceived, wrote, and co-directed this video. (The shopper name and information is fictitious.)
This video appears on the agent recruiting pages and provides a short overview into the opportunity. I conceived, wrote, and co-directed this video.
The newsletter is a way to build community among the contract agents and show them they’re part of something bigger than their day-to-day work. I conceived, content-directed, and design-edited the monthly Assurance Agent Update newsletter.
This roadmap illustrates a portion of the agent retention automated marketing touchpoint strategy. It details each touchpoint, the purpose, the event that triggers it, the channel, the central message, and status. Prior to this initiative, there were no automated emails in the Assurance ecosystem.