A quick overview of AXA Strategic Ventures, our vision about #Insurtech trends and our framework for investing in disruptive technologies in the Insurance Market

1. - DIA Barcelona -
April 21th 2016
AXA STRATEGIC VENTURES
@AXAVentures @Minh_Q_Tran
www.minhtran.fr
We shape the future of insurance and asset management by
investing in technologies that transform our industry

2. 2
SUMMARY.
1. AXA Strategic Ventures
2. InsurTech trends
3. Investment thesis

3. 12 PEOPLE
San Francisco
NYC
Paris
London
Hong Kong
A Venture Capital fund, dedicated to
emerging strategic innovations
relevant to
€230M
Seed
&
Venture
WHAT IS AXA STRATEGIC VENTURES ?
4 OFFICES
A strategic initiative launched in February 2015 by AXA
• Set up as a separate regulated entity with a
professional team dedicated to making
investments in start-ups.
✓ insurance,
✓ asset management,
✓ financial technology
✓ healthcare service industries
• ASV provides seed (early stage of the start-
up) to venture funding (acceleration phase of
the start-up) to start-ups built by experts
founders on leading edge technology that
can be scaled worldwide.

4. SEED
validate, build
—
✓ Pre-revenue
✓ Clear direction and target
milestones
✓ Initial development of product/
service
✓ Committed founding team
✓ Generate investor interest
EARLY
Launch
—
✓ Some revenue and user growth
✓ Clear product-market fit
✓ Attract additional resources – personnel/
investor
VENTURE
Scale
—
✓ Measurable market penetration and
user growth
✓ Large and growing market
✓ Ability and desire to scale quickly
✓ Attract significant resources –
business deals; investors
GROWTH
maturity to exit
—
✓ Established
✓ Terminal growth – steady-state expected
growth moving forward
✓ Resources easily acquired
✓ Founder exit or continue BAU
SEED
angels/crowdfunds/seed vc
SERIES A
crowdfunds/vc
SERIES B, C
vc
SERIES C1, …
Vc, private equity
INDUSTRY FUNDING ROUNDS
COMPANY STAGE OF DEVELOPMENT
SEED
>$100K
VENTURE
<$10M

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SUMMARY.
1. AXA Strategic Ventures
2. InsurTech trends
3. Investment thesis

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How we
define
InsurTech

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InsurTech = technologies
that might impact/disrupt
insurance businesses
Source : https://www.cbinsights.com/blog/insurance-tech-startup-funding-2015/

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InsurTech
is following FinTech but
growing quickly

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Source : http://seedingtech.com/2016/02/01/the-insurance-tech-moment-is-coming/
InsurTech investments
are growing fast (3.5x
in 2015)…
InsurTech investments are lagging
2 years behind FinTech but growth might be faster

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…Especially as
incumbents are already
investing in this space
Source : https://www.cbinsights.com/blog/insurance-startup-investing

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Significant amounts
have already been invested
in InsurTech companies

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Source : https://www.cbinsights.com/blog/insurance-tech-startup-funding-2015/
$2.7B invested in
InsurTech in 2015…

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Source : https://www.cbinsights.com/blog/insurance-tech-early-stage-2015
… but mostly in the US,
so far

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And Insurance
has a strong potential
for disruption

16. Life Insurance $2.3T
Non-life Insurance $1.4T
Huge market world wide
Mobile for distribution
Big data for underwriting
Machine learning for personalization
Technology can help on several
aspects of Insurance
Solvency II - Agents (MGA) - Broker - Reinsurer
Regulation as a barrier
to enter the market
Digitization is well behind
other industries
16
Source : https://medium.com/@robmoff/disrupting-insurance-4cf61fb8c551#.ofh3bhzbb
Here are the 4 main reasons
why Insurance is open to disruption

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SUMMARY.
1. AXA Strategic Ventures
2. InsurTech trends
3. Investment thesis

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The InsurTech ecosystem
is structuring itself around
strong pillars

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All the insurance value
chain is being
challenged by
startups…
Source : http://techcrunch.com/2016/02/02/opportunities-in-the-risk-business-
abound-as-insurance-is-ready-for-disruption/
Out of 1.000 leads received in 2015,
10% were fully InsurTech startups, and it accelerates in 2016.
Product & Pricing
30%
Distribution
>50%
Claim
<20%

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…And all the verticals
are targeted by
InsurTech startups
Source : http://techcrunch.com/2016/02/02/opportunities-in-the-risk-business-
abound-as-insurance-is-ready-for-disruption/

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We are looking
for startups that will
Insurance

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Disruptive technologies:
Framework for investing
*Adapted from “The Innovator’s Dilemma” de Clayton M. Christensen
MarketAdoption
Demand
Time
Startup
User trends
Tech solutions
Business model
Disruptive technology

23. DISRUPT MARKET PRACTICE IN TRAVEL INSURANCE
Airfares increase as we get closer to departure date
due to strong yield management techniques.
Portfolio

24. We predict airfares
Creation of millions of
qualified leads
worldwide
Disrupt market practice
by shifting user
experience
Protection will be
proposed before
purchasing
DISRUPT MARKET PRACTICE IN TRAVEL INSURANCE
Portfolio

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Thesis 1 =
Full-stack digital leads
Source : www.cnet.com/news/your-next-insurance-agent-will-be-a-robot/
Generate leads
+ 1 to be announced
Contact
management
Value chain
ASV portfolio
Startups
identified
KYC
Subscription
Qualify
leads
+ ChatBots are spreading as a new means to interact with customers

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@Minh_Q_Tran
Minh Q. Tran
@FGraillot
Florian Graillot
Let’s keep in touch
on Twitter