2022 Q1 Tech Recap
2022 has gotten off to a mega start for Ascend.
We’ve been heads down talking to agents, collecting feedback, and building our product to empower agents to do what they do best - focus on growing their businesses. We've seen this approach lead to some big wins for Ascend:
- Revenue increased by 7x Q/Q
- Agency partners grew by 3x Q/Q
- Maintained a perfect 100 NPS score
- 65% of our volume is financed (versus market average of 13%)
These highlights are validation that our mission to modernize insurance payments is resonating within the industry. We shipped over 20 different features in Q1 to make this all possible and wanted to highlight some of our agents’ favorites:
Endorsements
Agents can create endorsements for active policies directly in the dashboard. 10-15% of insurance policies have a premium-adding endorsement mid-term and this feature will now unlock these payments to be powered by Ascend.
Payment methods: Wire & Manual ACH
Insureds are able to pay for policies by directly entering their account and routing numbers, or wiring us money from their bank. This makes it much easier for customers to place large transactions with Ascend.
Dashboard's new look and feel
Our dashboard got a brand new redesign to make easier for agents to manage their policies. We added search and filtering, funding status for agencies and carriers/wholesalers, and a payments view for agents to know exactly the status of all invoices and receipts.
Automated Payouts
We built the rails to fully automate our payouts to agencies and suppliers. Originally a semi-manual process, we now are able to distribute funds to agencies and carriers/wholesalers/MGAs even faster.
We're thrilled about how impactful these releases have been for our agents and appreciative for the countless hours of feedback we've received from them. Empowering agents is the driving force behind our mission and we have much more in store - 2022 is just getting started!