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Citytwig: Insurance Roadmap Intelligence

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Andy Bhushan, Founder and President, CitytwigAndy Bhushan, Founder and President
The COVID-19 crisis has played a prominent role in the adoption of digital platforms to facilitate new channels of interaction between businesses and end users.

Take the case of the insurance industry, for instance.

During the pandemic, the industry has been enduring deep-rooted challenges on both sides of the coin—the insurer and the insured to find the right customers and insure them with the correct coverage. For starters, owing to the complex nature of insurance products, consumers often lack the knowledge to purchase the correct coverage, which limits the usefulness of the insurance contracts and end-user benefits. To reach a rational decision while shopping for insurance, customers do not have access to the right insurance product distribution, at the right time, that can align with their lifestyle and provide adequate coverage that fits their personalized needs.

On the other hand, insurers are facing great challenges when it comes to knowing who their ideal client is and finding new insureds to grow their business. Most insurance carriers follow an unstructured approach to find new clients as they reach out to as many new people as they can without having a narrow target client base, which often leads to high customer acquisition costs. Also, these insurers tend to limit themselves by selling a specific kind of product without exploring cross-selling options that meet the different insurance needs of customers across P&C and Life & Health lines.

California-based Citytwig was created with a singular focus to overcome these shortcomings. A rapidly growing InsurTech firm, Citytwig is creating ripples in the industry with its AI-powered solutions, specifically designed for insurance carriers to find the right insureds and service them with the correct products.

Citytwig is a platform that leverages Artificial Intelligence to build out personalized insurance coverage roadmaps for end-users based on their unique story. The platform helps carriers, agencies, agents and end-users identify specific product recommendations for consumers and businesses that would provide adequate coverage throughout their life-cycle. Citytwig’s intelligence is built on top of a database that contains millions of insureds, with AI algorithms designed to identify target populations that would be best candidates for specific insurance products. The company provides intelligence for insurers to identify target customer leads, unique product recommendations and cross-sell opportunities to achieve smart product distribution and increase revenues across all lines. Citytwig widens the accessibility of insurance products to end users and helps insurers to generate new business while providing adequate coverage for their clients.


We’re facilitating on the customer as well as on the insurance company’s end

According to Andy Bhushan, founder and president of Citytwig, the company’s descent into insurance data was a natural progression. “We sought to get clarity on how we can bring transparency to the industry, so that insurers can use the data they have to meaningfully help individuals and businesses get the right coverage,” he says. He goes on to explain that Citytwig, partnered with top insurance carriers and initially built a database with millions of insureds and backed each of them with sufficient data relating to insurance policies. This engagement helped the company understand common pain-points, which helped them devise accurate solutions for carriers, agencies, agents and end-users across the industry. Citytwig has achieved massive success in building the models, which are robust across different insurance lines. This could only happen if their data was accurate and of superior quality. The company has invested three years in building these models and curating data. “We’re adding value on the customer as well as on the insurance company’s end,” says Bhushan, before adding that they bridge the accessibility gap between the buyer and seller by employing models created by AI and machine learning for preferred prospecting. This empowers both individuals and carriers—to get the correct insurance coverage and lower the cost of customer acquisition by finding the right individuals, respectively.

Illustrating the benefits that Citytwig brings to the table, Bhushan cites a customer success story wherein one of its clients, a large-scale insurance carrier that mainly sells supplemental insurance used Citytwig to sell new policies in Life & Health insurance. The diverse needs of its customer were evaluated to revolve around long-term disability care, term policies, whole life policies, and more. The client was in dire need of similar insurance products, and Citytwig’s model helped them realize this need. The models proposed additional products that the client can benefit from outside of what they typically provided. “Our platform built out personalized product roadmaps for every existing insured and identified how the carrier could get consumers the coverage they need that they didn’t already have,” recalls Bhushan, while also highlighting that the client was able to increase the sale margin significantly.

Clearly, the uniqueness of Citytwig’s insurtech platform stems from the transparency it enables with all the data in one place and its ability to understand data and glean meaningful insights for increasing sales. “We take a data-driven approach when it comes to finding the right clients and products,” informs Bhushan.

Citytwig is currently looking to expand its operations by partnering with more insurance carriers and conducting more outreach programs. While the pandemic has managed to stifle economic activities across the globe, Bhushan believes that the current situation is conducive to its growth plan. As insurance is often sold face-to-face, he admits that carriers have encountered challenges due to the COVID-19 crisis. But the virtual environment has gained Citytwig popularity, as they have been widely successful in helping the carriers reach the right customers.

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Top 10 Artificial Intelligence Solution Companies - 2020

Company
Citytwig

Headquarters
Newport Beach, CA

Management
Andy Bhushan, Founder and President

Description
Citytwig uses AI and machine learning to help people find the right insurance carriers and subsequent products. Citytwig is a platform that leverages Artificial Intelligence to build out personalized insurance coverage roadmaps for end-users based on their unique story. The platform helps carriers, agencies, agents and end-users identify specific product recommendations for consumers and businesses that would provide adequate coverage throughout their life-cycle. The uniqueness of Citytwig’s insurtech platform stems from the transparency it enables with all the data in one place and its ability to understand data and glean meaningful insights for increasing sales