Insert text automatically surrounded by other text

2017-10-01 17:31:47

For easy typesetting of song sheets using the leadsheets LaTeX package I want to make a shortcut for vim.

Using the leadsheets package, chords are inserted into the lyrics like this:

^{Am7}Sunny

So to input this into vim, I have to press i^{Am7}[ESC] and move to the next word and do the same. However I'd like to be able to just hit some other key which puts me directly in insert mode, just enter the chord name and after exiting with [ESC] have the ^{ and } put around the inserted text automatically.

Is this possible?