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Travel insurance as it was meant to be.
Faye 2023
TL;DR
Full-stack MGA with claims
authority, already available in
48states
$Millions
in sales (exact figure
redacted)
Within less than a year in the
market
>10%
<15% market penetration
Probably the most profitable,
growing and underpenetrated line of
insurance you’ve never heard of
Market CAGR $XB
>$YB potential
The opportunity: be the first to
introduce a brand and loyalty,
winning and expanding the market
U.S. market
(exact figure
redacted)
Decades of experience across travel,
insurance and technology
Investors
Yoel Amir
Former CEO
Mike Nelson
Former Travel CEO
Rick Ensign
Former VP Sales
Advisory
Board
Elad Schaffer
Co-founder and CEO
Daniel Green
Co-founder and CTO
Moran Treiser
Growth
Gal Levy
R&D
Gal Magid
CX
Tali Eilon
Design
Doron Samish
Product
Motti Bebchuk
Operations
Lauren Gumport
Marketing
Jeff Rolander
31 team members worldwide
Claims, Carrier
relations
Travel insurance today doesn’t live up
to basic consumer expectations
Consumers
don’t trust it
Confusing
Incumbents are not built
for repeat customers
Bureaucratic and slow
Bad reputation
No customer ownership or
engagement
Low margins
No data, legacy
systems
The result
No brand, no loyalty.
Customers buy insurance
they will struggle to use,
insurers pay crippling
commissions, and live off
of tiny margins.
Travel insurance is a lucrative line
with massive growth opportunities
U.S. market potential
(fully penetrated)
Current U.S. market
$REDACTED
Embedded financial products
Post-booking travel services
Going international
Additional Growth
Opportunities
Source: US Travel Insurance Association
Growing 10%+ a year
Excellent loss ratios
Low market penetration
No consumer brand
Minimal innovation
$REDACTED
Not all insurtechs are created equal
Take rate (Rev/GWP)
Loss ratio
Product penetration %
Payback period
Nature of Risk
Path to profitability
Long term outlook
(Industry growth)
Home Insurtech 1 Car Insurtech 2
R
E
D
A
C
T
E
D
Medium term,
high severity
Unproven
Low (1.6% CAGR)
R
E
D
A
C
T
E
D
Long term, high
severity
Unproven
Good (4.5% CAGR)
Travel
R
E
D
A
C
T
E
D
Short term,
low-med severity
Redacted
Excellent (10%+ CAGR)
Introducing Faye
Administration
Product Design Distribution Claims
Technology driven ,
full-stack MGA
Payments
The only travel insurance to deliver person-first,
proactive and holistic coverage and care
Trip
cancelation
Trip
interruption
COVID - 19
Baggage
loss or delay
Trip delay
Missed
connections
24/7
assistance
Medical
evacuation
Trip
inconveniences
Emergency
medical expenses
Pet care
Rental
car care
Cancel for
any reason
Vacation rental
damage
Adventure &
extreme sports
Travel Insurance
as it was meant to be
60 seconds to
get covered
Travel assistance
directly on
the app
File claims
intuitively and
quickly
Excellent modular
coverage worded
for humans
Speedy payments
to the Faye Wallet
Going the extra mile -
proactive protection
Active trip
monitoring
COVID-19, flights and
security alerts
Solutions > Money
The Faye Wallet
a revolution in claim payments
Approved claims
are paid in seconds
Pay with Faye -
instead of paying
out-of-pocket
Go-to-market strategy driven by
three principles
Meet customers across
the entire journey
Build a strong brand that
generates organic sales
and leads to retention
Create a diverse, healthy
mix of revenue channels
Planning
Itinerary
Admin
Preparations
Day of Travel
Booking
Organic
Brand partnerships
Travel Agencies
Embedded Direct
Improving profitability per purchase
x xxx
Apr 22’ Dec 22’
For every dollar spent on partner
commissions and ads , we earn
$redacted in net revenue
Demonstrating strong and healthy growth
Monthly growth, $
Apr Dec
In GWP in our
first 9 months
In net revenue /
first 9 months
$XM $YM
Purchase value
(30-day avg.)
$A
Figures Redacted
Purchases and policy growth
Apr May Jun Aug
Jul
0
Sep
Purchases
# of Insured Travelers
1.5 Faye travelers per purchase,
will grow higher with the
introduction of the
Faye family plan
Oct Nov Dec
Thousands
94% of our customers
say they will buy their
next coverage with Faye
For the first time, travel insurance
people love, and come back for
Score
4.7
Faye
3.9
Competitor
1.4
Growth from returning customers
Competitor
Voted a must-download
travel app 2022
Consumer brand -
customer ownership
and retention
Proactive and
data-driven
Holistic care
Competitive landscape
Traditional insurers
Legacy systems
Not structured for retention
Their main customers
are the distributors
Distributors
Own the customer, take
hefty commissions
When a customer needs
assistance - they are referred to
the insurer
Offer “one size fits all”, bare
bone coverage
Innovators
Israel Parametric
Unbundling Fintech
ancillaries
Mobile-first
“More of the same” - no consumer brand
Raising Series A
$10m capital raise | 24-30 months of runway
Milestones: Hundreds of thousands of customers (exact figure redacted). Repeat customers at X%(exact percentage redacted)
Availability in 50 states; Continued ROI improvement per purchase; Family plan; Corporate plan; Pay with Faye; Redacted -
technological capability
Redacted - 2 year budget
When you overdeliver in a space
synonymous with doing the opposite,
people notice.
4.7/5 stars on Trustpilot
Powering positive adventures worldwide
www.withfaye.com

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Pitch Deck Teardown: Faye's $10M Series A deck

  • 1. Travel insurance as it was meant to be. Faye 2023
  • 2. TL;DR Full-stack MGA with claims authority, already available in 48states $Millions in sales (exact figure redacted) Within less than a year in the market >10% <15% market penetration Probably the most profitable, growing and underpenetrated line of insurance you’ve never heard of Market CAGR $XB >$YB potential The opportunity: be the first to introduce a brand and loyalty, winning and expanding the market U.S. market (exact figure redacted)
  • 3. Decades of experience across travel, insurance and technology Investors Yoel Amir Former CEO Mike Nelson Former Travel CEO Rick Ensign Former VP Sales Advisory Board Elad Schaffer Co-founder and CEO Daniel Green Co-founder and CTO Moran Treiser Growth Gal Levy R&D Gal Magid CX Tali Eilon Design Doron Samish Product Motti Bebchuk Operations Lauren Gumport Marketing Jeff Rolander 31 team members worldwide Claims, Carrier relations
  • 4. Travel insurance today doesn’t live up to basic consumer expectations Consumers don’t trust it Confusing Incumbents are not built for repeat customers Bureaucratic and slow Bad reputation No customer ownership or engagement Low margins No data, legacy systems The result No brand, no loyalty. Customers buy insurance they will struggle to use, insurers pay crippling commissions, and live off of tiny margins.
  • 5. Travel insurance is a lucrative line with massive growth opportunities U.S. market potential (fully penetrated) Current U.S. market $REDACTED Embedded financial products Post-booking travel services Going international Additional Growth Opportunities Source: US Travel Insurance Association Growing 10%+ a year Excellent loss ratios Low market penetration No consumer brand Minimal innovation $REDACTED
  • 6. Not all insurtechs are created equal Take rate (Rev/GWP) Loss ratio Product penetration % Payback period Nature of Risk Path to profitability Long term outlook (Industry growth) Home Insurtech 1 Car Insurtech 2 R E D A C T E D Medium term, high severity Unproven Low (1.6% CAGR) R E D A C T E D Long term, high severity Unproven Good (4.5% CAGR) Travel R E D A C T E D Short term, low-med severity Redacted Excellent (10%+ CAGR)
  • 7. Introducing Faye Administration Product Design Distribution Claims Technology driven , full-stack MGA Payments
  • 8. The only travel insurance to deliver person-first, proactive and holistic coverage and care Trip cancelation Trip interruption COVID - 19 Baggage loss or delay Trip delay Missed connections 24/7 assistance Medical evacuation Trip inconveniences Emergency medical expenses Pet care Rental car care Cancel for any reason Vacation rental damage Adventure & extreme sports
  • 9. Travel Insurance as it was meant to be 60 seconds to get covered Travel assistance directly on the app File claims intuitively and quickly Excellent modular coverage worded for humans Speedy payments to the Faye Wallet
  • 10. Going the extra mile - proactive protection Active trip monitoring COVID-19, flights and security alerts Solutions > Money
  • 11. The Faye Wallet a revolution in claim payments Approved claims are paid in seconds Pay with Faye - instead of paying out-of-pocket
  • 12. Go-to-market strategy driven by three principles Meet customers across the entire journey Build a strong brand that generates organic sales and leads to retention Create a diverse, healthy mix of revenue channels Planning Itinerary Admin Preparations Day of Travel Booking Organic Brand partnerships Travel Agencies Embedded Direct
  • 13. Improving profitability per purchase x xxx Apr 22’ Dec 22’ For every dollar spent on partner commissions and ads , we earn $redacted in net revenue Demonstrating strong and healthy growth Monthly growth, $ Apr Dec In GWP in our first 9 months In net revenue / first 9 months $XM $YM Purchase value (30-day avg.) $A Figures Redacted
  • 14. Purchases and policy growth Apr May Jun Aug Jul 0 Sep Purchases # of Insured Travelers 1.5 Faye travelers per purchase, will grow higher with the introduction of the Faye family plan Oct Nov Dec Thousands
  • 15. 94% of our customers say they will buy their next coverage with Faye For the first time, travel insurance people love, and come back for Score 4.7 Faye 3.9 Competitor 1.4 Growth from returning customers Competitor Voted a must-download travel app 2022
  • 16. Consumer brand - customer ownership and retention Proactive and data-driven Holistic care Competitive landscape Traditional insurers Legacy systems Not structured for retention Their main customers are the distributors Distributors Own the customer, take hefty commissions When a customer needs assistance - they are referred to the insurer Offer “one size fits all”, bare bone coverage Innovators Israel Parametric Unbundling Fintech ancillaries Mobile-first “More of the same” - no consumer brand
  • 17. Raising Series A $10m capital raise | 24-30 months of runway Milestones: Hundreds of thousands of customers (exact figure redacted). Repeat customers at X%(exact percentage redacted) Availability in 50 states; Continued ROI improvement per purchase; Family plan; Corporate plan; Pay with Faye; Redacted - technological capability Redacted - 2 year budget
  • 18. When you overdeliver in a space synonymous with doing the opposite, people notice. 4.7/5 stars on Trustpilot
  • 19. Powering positive adventures worldwide www.withfaye.com