|Name of the Company: Penni.io
CEO and Founder: Jeppe Klausen
Fastest Growing Companies 2021 – Digital Magazine
Jeppe Klausen is the founder of Penni.io, and has extensive experience in driving value through technology in the insurance industry – and has been programming since 5th grade. He has been an entrepreneur for more than 15 years and successfully exited his last business. Founded in 2017, Penni.io provides a technology platform enabling insurers and brokers to become winners in online sales through partnerships.
Penni.io: The Brand, The Story
Please write about your company in detail and the services you provide.
The customers’ digital expectations are increasing every day, and the insurance industry is transforming to seize the massive opportunity in digital customer engagement. Penni.io helps the insurers selling insurance products where the customers are → in their partners’ digital channels. Approximately 40% of total insurance sales come through partner companies such as banks, travel agencies, retailers, trade unions, car dealers, etc. (source: McKinsey), and Penni.io makes these partnerships happen in a digital world. Penni.io’s vision is to make insurance distribution easy and accessible by utilising the partners’ many digital touch-points they already have with their customers.
The Penni Connect platform delivers the fundamental infrastructure and functionality of digital insurance distribution at scale. Penni Connect optimizes conversion and increases sales by providing full online customer journeys. These customers’ journeys are always customizable thanks to the adaptable widgets and checkout solutions. Powerful analytics and insights into customers’ behavior are also accessible on the platform.
Penni has worked with some of the industry leaders: BoughByMany, Topdanmark, April, Axa, SEB, FDM, Tryg, Coopforsinkringer, Anytime.
Penni.io got funded 2 million € in 2020 and 5,7 million € in 2021.
How did you get your idea for your business?
Being an entrepreneur in the insurance sector for 15 years has made me see lot’s of opportunities, but in 2017 it appeared that distribution of insurances at relevant customer touch-points online was the biggest opportunity of them all.
How is your company keeping up the pace with the emerging developments in the market?
We’re investing heavily in technology and sales to grow faster than our competitors.
How do you ensure the quality of services in your company?
We’re very focused on compliance – especially ISAE3402. This has also driven a significant process internally of ensuring that we work with continuous quality in all aspects of delivering SaaS.
What kind of clients do you serve?
Our main clients are insurance companies and their distribution partners.
How is your company keeping up with technological advancements? How does it help you in staying ahead in the market?
We’re constantly investing in new and mature technology that will enable us to deliver value. This comes from conferences, user group meetings and a dedicated tech team that are curious
What are the methods used from your end to keep your employees motivated? What approaches do you implement to evaluate their success?
We give a lot of responsibility to the individual as well as making sure our office feels “a bit like home”. We’re a strong believer in OKR, which is our main framework for setting direction as well as following up on both performance and happiness.
What are the achievements and accolades the company is proud of?
That we have in three years’ time have been able to land customers in DK, SE, FR, UK and ES.
How are you giving back to society? (CSR if Any?)
We have a green profile and are working constantly with our ESG. On top of that, we try to ensure that our employees are happy and we treat them with respect.