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Covomo - NOAH18 London

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Company Pitch by Covomo at the NOAH Conference 2018 in London, Old Billingsgate 30-31 October 2018.

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Covomo - NOAH18 London

  1. 1. STRICTLY CONFIDENTIAL | 10/2018 Revolutionize the way product insurance is brought to market and sold prepared for: NOAH London 2018
  2. 2. Three Conferences, One Mission: Empower the European Digital Ecosystem To provide a physical marketplace that facilitates funding of digital European companies at all stages Mission Mission Mission To promote Israel - European relationships and enable funding To bring together future-shaping executives and investors active across segments driven by digital revolution Connecting Capital with Entrepreneurs Connecting European Champions and Challengers Connecting Israel’s Startups with Large Corporates and Investors 30-31 October 2019 Old Billingsgate, London 13-14 June 2019 STATION Berlin 9-10 April 2019 Hangar 11, Tel Aviv
  3. 3. STRICTLY CONFIDENTIAL | 10/2018 Introducing Covomo Versicherungsvergleich GmbH 1 VISION Empower people to easily protect the things they care about, wherever and whenever they want. MISSION Become the category killer for product insurance by offering the leading B2B distribution platform and the best on-demand insurance in the market. KEY FACTS  Founded in 2014, go-to-market in 2015, 15 employees, based in Frankfurt a.M., Germany  More then 25.000 insurance contracts with over 1,5 Mio. EUR premium payments sold  Insurance-as-a-Service distribution platform with more than 1,500 insurance tariffs (travel, pets, electronics, (e-)bikes, drones, instruments, events, etc.)  Scalable, modern, modular, easy to use technology for seamless integration in every sales channel  Strong track record of over 1,500 B2B partnerships in German broker market  Launching Germany‘s first on-demand insurance product “covr.it”
  4. 4. STRICTLY CONFIDENTIAL | 10/2018 Challenge: EUR 11 bn German product insurance market is growing rapidly but policies are not sold efficiently 2 ∑ Dental, Hospital, etc. Sports & Leisure (E-)Bikes Electronics Pets Travel CAGR 11% CAGR 10% CAGR 13% CAGR 6%  70 mn holiday travels booked per year  24 mn smartphones and 17 mn PCs & tablets sold per year  3 mn e-bikes and 74 mn bikes existed in 2017  More than 0.4 mn drones sold per year, 1.3 mn drones existed in 2017 10.8 1.6 1.3 2.7 1.4 1.0 2.8  More than 25 mn supplementary insurance contracts existCAGR 11%  34 mn pets live in households GERMAN PRODUCT INSURANCE in EUR bn KEY FACTS GERMANY CAGR 8% Note: Market sizes for year 2022 Product insurance grows much faster than main insurance products (CAGR of only 2%) First timer market, i.e. customers buy these products the first time Increasing spend for travel, pets, electronics, e-bikes, etc. High margins of up to 40% on premiums paid
  5. 5. STRICTLY CONFIDENTIAL | 10/2018 Our solution: combination of a powerful distribution platform with Germany‘s first on-demand insurance product 3 Aggregator with > 1,500 product insurance tariffs, own booking engine for seamless integration, and powerful B2B partnerships DISTRIBUTION PLATFORM (“Insurance-as-a-Service”) First on-demand or pay-per-use insurance for smartphones, laptops, cameras, and (e)-bikes, integrated in a digital safe DIGITAL INSURER + API Covomo has it all to become the category killer for product insurance
  6. 6. STRICTLY CONFIDENTIAL | 10/2018 Meet covr.it – Germany‘s first on-demand, pay-per-use insurance 4 covr.it offers a digital safe with customized insurance policies for most valuable belongings, also to be available as a white label. User selects items she wishes to cover and only pays for those. The insurance can be activated or deactivated in a few seconds via the app. Claims are handled via a chat bot. User stays informed in real time about her cover, possible changes or eventual queries, reducing waiting periods, decreasing costs and improving customer satisfaction. Thanks to user profiling and dynamic pricing we are able to give best offers to our best customers. Timely fraud detection through machine learning and image recognition reduces costs and decreases prices even further.
  7. 7. STRICTLY CONFIDENTIAL | 10/2018 The covr.it product based on Covomo’s expertise considerably extends our value chain… 5 Covomo takes over a larger part of the value chain and allows for an individual experience combined with low operating costs thanks to the use of top-notch technologies Our unique advantage Using extensive data acquired via Covomo’s distribution platform over years of operations we create, price, launch and manage the best own insurance products based directly on the customer needs and brought to market with the shortest lead times Proven business models Product & Pricing Underwriting & Operations Premium Collection Claims Mgmt DistributionRisk Carrier “INSURANCE-AS-A-SERVICE” (existing) (new)(new)(Re)Insurer
  8. 8. STRICTLY CONFIDENTIAL | 10/2018 ...and will also have the highest impact on premium volume in the future 6 2015A 2016A 2017A 2018E 2019E 2020E 2021E Pools & Software Brokers Non-Broker Direct Premium volume (in EUR k) Due to our own product covr.it and the focus on non-broker channels premium volume will continue to increase rapidly CAGR 2015A-2017A:  Pools & Software: 2,791%  Brokers: 166%  Non-Broker: 3%  Direct: 48% CAGR 2018E-2021E:  Pools & Software: 63%  Brokers: 83%  Non-Broker: 439%  Direct: 55% 2015A 2016A 2017A + 81 273 490 30,388 7,291 1,813 1,019 CAGR +210% CAGR +147%
  9. 9. STRICTLY CONFIDENTIAL | 10/2018 Meet the Covomo Team 7 Dr. Eberhard Riesenkampff Managing Director, CEO Simon Nörtersheuser Managing Director, CSO  Strong management team with deep industry expertise and focus on product, sales and operational excellence  Key positions filled (technology, product, sales, key account, operations, etc.)  New positions planned in 2018 in the areas of partnerships mgmt/sales and covr.it technology and operations  Governance structure set up, advisory board installed
  10. 10. STRICTLY CONFIDENTIAL | 10/2018 5 reasons why you should invest in Covomo’s Series A 8 1 2 4 Growing market  Global EUR 90 bn  Germany EUR 11 bn Scalable and easy to internationalize  Technology can be integrated into all sales channels and can be used for all insurance products  Products are fully digital and not consulting-intensive  Products are the same internationally, not like life insurance, etc.  Covomo broker-license is valid for all EU countries 3 High margins and recurring commissions  Margins of up to 40% on premium payments  Recurring commissions through long term contracts Experienced team  Serial entrepreneurs with deep industry expertise  Experienced investors and thorough governance structure 5 Sustainable entry barriers  Proprietary distribution platform with strong B2B partnerships  Unique advantage for own insurance products with own brand “covr.it”  On track to becoming the category killer for product insurance
  11. 11. STRICTLY CONFIDENTIAL | 10/2018 Disclaimer The information contained in this presentation have been researched by us with due care and all and any evaluations or assessments stated herein represent our personal opinions. We advise you that some of the available information has been independently verified and may be based on statements by third persons, but no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein. Certain statements contained herein may be statements of future expectations and other forward-looking statements that are based on our current personal views and assumptions and involve known and unknown risks and uncertainties that cause actual results, performance or events to differ materially from those expressed or implied in such statements. None of our team shall assume any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or the statements contained herein as to unverified third person statements, any statements of future expectations and other forward-looking statements, or the fairness, accuracy, completeness or correctness of statements contained herein, or otherwise arising in connection with this presentation. This presentation does not constitute an offer or invitation to purchase or subscribe for any investment and neither it nor any part of it shall form the basis of or be relied upon in connection with any commitment or contract whatsoever, and is solely intended to communicate a favorable impression of our team members and their business track-records. No one should base their investment decisions on this presentation, which principally constitutes an advertising message, as their main source of information or reliance but should form their personal opinions solely on the basis of further available information and evaluations and assumptions. The legal documentation held ready for any prospective investor shall be authorized as the sole source of relevant information and neither it nor any part of it shall constitute any representation, warranty or other undertaking, expressed or implied, as to the economic success of the offered investments. 9 Contacts Dr. Eberhard Riesenkampff Simon Nörtersheuser
  12. 12. Selected Completed NOAH Transactions Focus on Leading European Internet companies Covering over 400 companies across 25 online verticals, a broad range of over 500 investors as well as 100+ online-focused corporates Deep understanding of industry dynamics Ability to add value beyond banking advice Facilitates overall process and minimizes management distraction NOAH Advisors is globally well connected and has direct access to virtually all key players in the industry Knowledge of and strong relationships with potential buyers’ key decision makers Proactively finds and unlocks attractive investment opportunities for leading investors Annual NOAH Conference in its 8th year Over 40 years of combined relevant M&A experience Routine execution of M&A and financing transactions with sizes of several billion euros 25+ successfully completed NOAH Advisors transactions underline successful transfer of M&A competencies to the Internet sector Entrepreneurial mind-set, focused on growing the business and establishing a reputation for excellence Ability to deliver top results in short time frames Highly success-based compensation structures align interests of clients and NOAH Advisors, and demonstrate conviction to deliver top results Creative deal solutions December 2014 October 2014 May 2014 Sale of 100% of for $800m to Exclusive Financial Advisor to Fotolia and the Selling Shareholders Sale of 100% of for €80m to Exclusive Financial Advisor to Trovit and its Shareholders sold 100% of for $228m to a joint venture between Exclusive Financial Advisor to Yad2 and its Shareholders Unique Industry Know-How Unmatched Network and Relationships Strong Investment Banking Competence Full Commitment - We Are Entrepreneurs! EUROPE’S LEADING INTERNET CORPORATE FINANCE BOUTIQUE July 2018 December 2016 October 2016 ® Marco Rodzynek Managing Director & Founder Jan Brandes Managing Director The NOAH Advisors Core Banking Team Nikhil Parmar Director Investment in Exclusive Financial Advisor to KäuferPortal and its Shareholders by 84% Ownership Exclusive Financial Advisor to PromoFarma and its shareholders Financial Advisor to Silver Lake Investment in by September 2018 August 2017 Financial Advisor to 10bis and its shareholders Financial Advisor to EMK Capital Acquisition of a Majority Stake in by at a valuation of $200m Olek Skwarczek Analyst Lukas Schlund Analyst Sale of 100% in to Sale of 100% in for €135m to 10Bis

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