Locket is a prevention-focused platform that integrates smart technology and behavioral science to reduce insurance claims by enabling proactive risk management through smart device integration and educational content. The platform also enhances customer engagement and retention by offering a loyalty rewards system and a marketplace for preventative products and services.
Funding
$10M 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 providers face challenges in reducing claims and fostering customer loyalty due to a lack of proactive risk management tools and engagement strategies. Traditional insurance models often react to incidents rather than preventing them, leading to increased costs and decreased customer satisfaction.
Solution
Locket offers a prevention-focused SaaS platform that integrates smart technology and behavioral science to enable proactive risk management for insurance customers. By connecting with smart home devices and providing expert educational content, Locket empowers users to prevent incidents like leaks, fires, and burglaries. The platform enhances customer engagement through a loyalty rewards system, incentivizing proactive risk mitigation and building stronger relationships between insurers and their policyholders. Locket also provides a marketplace for preventative products and services, offering customers exclusive deals on safety and security solutions.
Target Audience
Locket primarily targets insurance providers seeking to reduce claims, increase customer retention, and generate new revenue streams through proactive risk management and enhanced customer engagement.
Features
- Integration with smart devices to enable real-time monitoring and preventative actions
- Expert-created video content focused on safety and security best practices
- A marketplace offering exclusive deals on preventative products and services
- Insurance wallet feature allowing customers to manage all their policies in one place, creating upsell and cross-sell opportunities for insurers
- A loyalty reward system that incentivizes engagement with the platform and proactive risk management
- An emergency toolkit providing customers with assistance in a range of emergency situations
- Platform analytics dashboard to track ROI and measure the effectiveness of prevention strategies