Increase Fueled by Current Client Growth & Nine New Insurance Clients
Boston – MassPrinting, the leader in document output solutions, today announced that it increased year-over-year revenue from insurance services by 46%.
“The 2020 fiscal year brought unparalleled challenges from the impact of COVID19. The majority of our client base benefited greatly from having outsourced print and mail services,” said Andy Pallotta, President of MassPrinting. “Our strategic partner network was completely operational during the entire pandemic last year. In addition, MassPrinting was able to help several carriers send COVID19 communications quickly and effectively to their policyholders. Most importantly, our clients were relieved that our outsourced print and mail model didn’t add to the challenges they were already facing in quickly moving other back office operations remotely.”
Key highlights from 2020
- Client Growth – MassPrinting’s 2020 revenue growth was driven by the benefit of a full year of revenue from its insurance client additions in 2019, growth from the current client base, and the addition of nine new insurance clients.
- The company’s early projections for 2021 also look strong, with anticipated growth from new products that will be introduced this year.
- Workforce Expansion – To keep up with the growth of its client base, MassPrinting significantly expanded its workforce in 2020, adding headcount to support clients and its increased technology development.
- Technology Investment – MassPrinting continued investing in its technology infrastructure in 2020, completing a client beta program and testing. A key component of this infrastructure will go live in March 2021. The company plans to introduce additional products to the market in 2021
“We are committed to establishing MassPrinting as an insurtech company,” stated Pallotta. “We believe that MassPrinting is uniquely positioned to offer services to our insurance carriers that transcend print and mail and modernize and simplify policyholder communications.”
More about MassPrinting
MassPrinting has over 21 years of experience providing document output solutions to meet customer needs. Our vast experience working with insurance carriers has enabled us to know their specific challenges so we can deliver simple solutions through innovative technology.
