Investor Deck: A New Cause Marketing Model for Insurance
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Investor Deck: A New Cause Marketing Model for Insurance
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GiveSurance Investor Introduction - used for angel round funding and strategic partnerships in the founding of this new model for insurance marketing. Givesurance is a unique cause-marketing model in the insurance brokerage space.
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Investor Deck: A New Cause Marketing Model for Insurance
- 1. We are disrupting insurance marketing with an almost frictionless new model that upends the $4B+ spent by insurance carriers on advertising annually Plan Deck 01/2014 CONFIDENTIAL
- 2. We make it possible for people to support the causes that matter to them, simply through their choice of insurance provider. At the same time, we are delivering a platform for brokers empowering them to add Cause Marketing as a channel for new business. Most importantly, we are giving causes a vital, sustained source of income - and we doing all this by replacing an ad model that is largely reviled.
- 3. Plan Deck 01/2014 CONFIDENTIAL $388M $920M 3 Practically everyone has insurance. It’s the definition of a saturated, mature market. To gain share, most carriers pay 20% sales commissions on top of huge advertising and marketing costs. Carriers are fighting a war for market share, largely with ad spend in a market perceived of as commodity by consumers. This is a HUGE opportunity for a disruptive model. $828M $370M saturated market $385M $179M
- 4. Plan Deck 01/2014 CONFIDENTIAL Brokers are increasingly being displaced in an environment where carriers are able to use the internet to give instant quotes and are aggressively implementing advertising-driven direct sales models. Our model gives the broker a new business platform, allowing them to engage new customers, and add value without cannibalizing their existing business. disenfranchised brokers 4
- 5. Plan Deck 01/2014 CONFIDENTIAL 5 Agent works with customer through our systems to get great coverage and rates as co-broker with us. CUSTOMER A cause partner refers a customer to us through a support outreach campaign 2 We donate to the charity and split the remaining commission with any co- broker agents 1 3 CAUSE Carriers pay us a commission as the brokerage model
- 6. Plan Deck 01/2014 CONFIDENTIAL We are effectively re-directing the funds used to persuade customers to switch carriers. We give part of the Broker’s commission to the charity, and help the charities to do the part the ads were doing - namely influencing buyer preferences. Everyone except the ad sales guys win, in a model even the carriers support 6 trusted referrals
- 7. Plan Deck 01/2014 CONFIDENTIAL frictionless network 7 Our co-brokerage approach will allow us to rapidly grow and support a network of trained, experienced insurance professionals that can not only deliver a local response but will in turn be able to engage their own charity support partnerships. This is a model designed for rapid, national relatively frictionless growth.
- 8. Plan Deck 01/2014 CONFIDENTIAL pipeline 8 PREMIUMS 4 causes in Los Angeles have already signed up $9m REVENUE BOR from 15% of the family over a year $1.8m SUPPORT Ongoing donation to charities $720k Income can begin immediately through campaigns with foundations and non-profits with which we are currently already engaged Estimated 2014 (working with initial small local charities)
- 9. Plan Deck 01/2014 CONFIDENTIAL profits 9 LEGACY BROKERAGE GIVESURANCE MODEL Revenue $1,000 Overhead $200 Net Profit $100 Customer Servicing $200 Agent Commission $500 Insurance Premium $5000 Revenue $1,000 Overhead $150 Net Profit $150 Customer Servicing $300 Charitable Donation $400 Insurance Premium $5000 Lower overhead, without Advertising Higher service cost with co-brokerage Lower commissions Higher net profit
- 10. Plan Deck 01/2014 CONFIDENTIAL 10 market size Brokerage Commissions 20% Commission on $500 B premiums in Personal and Commercial Insurance Total Available Market MidMarket $18B $100 B $38 B Wealth Mangers $5B High Net Worth $15B Target Market Typically higher net-worth supporters of causes such as schools, foundations and non-profits LIkely Serviceable Market Target Market Segments Focus on the more valuable insurance customers, through trusted networks and association with causes. Initial Target Market Segments
- 11. Plan Deck 01/2014 CONFIDENTIAL team 11 Jennifer Rasiah - CEO 14 years experience in insurance industry; has worked in every major role of both insurance carrier and brokerage side of the industry. Worked on the high net worth / Entertainment division of worlds largest insurance brokerages. Lead a team of HNW specialist in building UnionBank’s HNW Division later AQ by BB&T. Former AVP at Hub International. David Shantz - CMO Co-founded his first company at 19, which was eventually acquired by IBM. Since then, David has had key roles in marketing for over a dozen start-ups, of which there have been numerous funding and liquidity events. Morphic, Altamira Software (Microsoft), MPower (Morningstar), Bohan Group(First American), CoAlign, Bulldog, Velosant (First Data), Atomic Tangerine (SRI) and in 2010, Cause Insurance (cause marketing insurance $2M) Max Skibinski - Advisor, Technology and Management Venture part at Andreessen Horowitz. Hive7 Founder (acquired by Disney). Founder of Inporia. Ycombinator graduate. Sharon Andrew - Advisor, Industry / Operations Insurance and Financial Services Executive, CHFC, LUTCF Territory/ Sales Management ~ Strategic Planning and Analysis ~ Business Consultant Training/Development/Coaching ~ Business Development, Growth & Profit ~ Generation & Launch Corporate Legal Liaison ~ Conflict-Of-Interest & Integrity Issues ~ Compliance/Ethics
- 12. Plan Deck 01/2014 CONFIDENTIAL team (continued) 12 Craig Barnet- Advisor, Co-brokerage Partnerships 20 years of experience in the insurance industry, Craig Barnet is recognized as one of the premier risk management consultants in the field. Bill Catanese- Advisor, Co-brokerage Partnerships Vise President Risk Strategies Company. Founder Catanese Insurance Former Wells Fargo and Farmers Executive.
- 13. Brokers can choose to join the network and gain a new revenue stream without risk of cannibalizing their existing full commission client base Charities can use this platform to create new, ongoing channels of support Customers can support the causes that matter to them by diverting resources spent on advertising and commissions towards real good, and without much more investment than a little time.
- 14. References and Sources INSURANCE AD SPENDING PASSES $4B 12% year-on-year growth http://www.prweb.com/releases/2013/6/prweb10827577.htm http://adage.com/article/news/warren-buffett-s-geico-rides-giant-ad-budget-past-allstate/242980/ http://adage.com/article/cmo-interviews/nationwide-cmo-insurance-ad-arms-race-continue/244405/ http://www.localspeak.com/blog/180/for-progressive-social-medias-not-going-with-the-flo-.html We make a living by what we get... We make a life by what we Give... Winston Churchill