Locketconnect provides insurers with a smart‑tech platform that integrates IoT sensors, behavioral‑science‑driven safety education, and a curated marketplace to prevent losses before they occur. The solution delivers real‑time risk alerts, expert video guidance, and a loyalty‑rewarded insurance wallet that drives policyholder engagement, reduces claim frequency, and creates upsell and cross‑sell revenue opportunities.
Funding
$3.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Insurance carriers often struggle to reduce claim frequency and severity while maintaining customer engagement and generating additional revenue from existing policyholders. Traditional insurance products provide limited tools for proactive risk mitigation, leading to higher loss costs and lower customer loyalty.
Solution
Locketconnect offers a platform that combines smart‑device integrations, behavioral‑science‑driven education, and a curated marketplace to help insurers prevent losses before they occur. Connected sensors detect risks such as water leaks, fire hazards, or security breaches and trigger alerts that enable policyholders to take immediate action. Expert‑produced video content delivers engaging safety and security guidance, reinforcing preventive behaviors. An in‑app insurance wallet consolidates policy details, renewal dates, and offers, creating a channel for targeted upsell and cross‑sell opportunities. The platform’s loyalty rewards system incentivizes participation, strengthening trust and retention.
Target Audience
Primary customers are property and casualty insurers, insurance carriers, and broker‑age firms seeking to lower claim costs, increase policyholder engagement, and drive additional revenue through cross‑selling.
Features
- Integration with IoT devices (e.g., leak detectors, fire sensors, security systems) that provide real‑time risk monitoring and automated prevention alerts
- Library of expert‑authored safety and security videos designed to educate and motivate policyholders
- Marketplace offering exclusive deals on preventative products and services relevant to risk mitigation
- Insurance wallet that stores policy information, tracks renewal dates, and enables personalized product recommendations
- Loyalty rewards engine that grants points or discounts for completing preventive actions and engaging with educational content
- Analytics dashboard for insurers to monitor claim prevention metrics and identify upsell opportunities