Lightico: Why We Invested
It’s not news that we increasingly rely on our pocket-sized supercomputers to socialize, navigate, consume, and transact. Unfortunately for the financial services industry, conducting business via smartphones still leaves a lot to be desired.
Let’s take the 450,000+ insurance agents in the US to start. Each day they must ensure clients & prospects complete and return forms, verify identity to satisfy KYC requirements, sign contracts, and pay their premiums on time. Even after verbally agreeing to do so on the phone — once a client or prospect hangs up — the agent no longer has the ability to influence attention. This results in multiple (missed) phone calls, follow-ups, and generally a poor experience for all parties involved.
Lightico enables agents to compress the sales process into a single phone call — or as the team calls it — “Won and Done”. No downloads, no registrations, no hassle. Lightico’s intelligent Pipeline Acceleration Platform brings customers into a virtual “private room” that sits in the browser. In this private room , the customer can view catalogs, fill-in forms, verify identity (AKA KYC — Know Your Customer), exchange documents and photos, pay for goods & services, and of course, sign contracts in real time, on the spot.
Launched in Q2'17, Lightico already serves dozens of customers and has facilitated over one million transactions. Customer feedback shows significant improvement in the key “lead-to-won-deal” ratio metric, along with increased customer satisfaction.
It’s no surprise that the solution has already been endorsed by agents of AllState Insurance, Farmers Insurance, and StateFarm Insurance, and has attracted interest from debt collectors, real estate agents, and financial advisors.
In parallel, the competitive global call center industry which collectively employs millions, constantly seeks new technologies to improve performance of their sales, service, and support reps. Similarly, NICE inContact, Amdocs, and other global players (TBA) have also endorsed Lightico as distribution partners.
At lool ventures, we pride ourselves in backing and working shoulder to shoulder with exceptional founders. Founded and led by Zviki Ben-Ishay (CEO), Justin Josh (CTO), Omri Braun (COO) and Vladimir Levin (R&D team lead) Lightico’s team brings vision, determination, and a track record of grit in selling to customers small and large.
We are excited to have led the company’s seed round, and the opportunity to work alongside Zviki, Justin,Omri and Vladimir on their journey to become a global category leader!