FinTech & InsurTech: Fireside chat with Julian Teicke, WeFox at the NOAH Conference Berlin 2019, 13-14 June, STATION.

1. Reinventing
insurance
at scale
Julian Teicke Founder & CEO

2.  @NOAHConference
 @noah_conference
 @noah-conference
 @NOAHConference
FOLLOW USONSOCIAL

4. INSURANCE TOMORROW
The world of insurance is changing
2Reinventing insurance at scale © 2019 wefox Group
Fully digital sales with the
seamless digital integration of
a human when required
Instant, convenient, simple
and transparent
Proactive protection from likely
risks based on IoT data
INSURANCE TODAY
Non-digital sales via tied agents
and brokers with slow product
innovation cycles
Complex, intransparent
and inconvenient
Financial compensation
from uncertain risk

5. #1 insurtech in Europe
3Reinventing insurance at scale © 2019 wefox Group
€150M
funding
to date
>350k
consumers
>1500
broker agents
8 countries
live this year
>300m
Premia under
management
Personal
lines
P&C, Health
& Life
First fully
digital European
carrier
Scalable
distribution
channel
220
employees
2015
launch
Group CEO
Julian Teicke
CEO ONE
Oliver Lang
CEO wefox
Tasos
Chatzimichailidis
Experienced founders and
senior industry leaders
Live in
Germany with
Household
& Liability
70,000+
policies
sold since
launch
Reinsured
by

6. 4Reinventing insurance at scale © 2019 wefox Group

7. DirectTied Agents
41%
15m broker agents: managing 3bn customers
Insurance distribution is ripe for innovation
Source: Swiss Re Sigma, No.3 2017; Independent Insurance Agents of America, wefox calculations, Global Insurance Insights McKinsey, 2015
5Reinventing insurance at scale © 2019 wefox Group
Average distribution of personal lines sales worldwide (premium)
RELEVANCE OF BROKERS IN INSURANCE
9% 50%
Brokers

8. Insurer
CustomerBroker
FOR INSURERS
Our vision is to own the Marketplace
6Reinventing insurance at scale © 2019 wefox Group
Reduced costs
Digital access to
broker market
Data insight
FOR BROKERS
Less effort
More revenue
Loyal customers
FOR CUSTOMERS
Insurance comparison
Single point of contact
Mobile claim support

9. W/ wefox
12 month
later
600
€571k
26%
€148k
€104k
€45k
w/o
wefox
Average # of customers 300
Customer portfolio pays
premia
€240k
Insurance pays (blended %) 18%
Commission €42k
(-) broker share €42k
wefox share €0
Increased number of
customers and improved
share of customer wallet
Improved commission
terms with Insurers
Resulting in 2x+ revenue
increase for brokers
2
2
Multiple drivers of revenue growth for brokers
7Reinventing insurance at scale © 2019 wefox Group
BUSINESS
MODEL
FINANCIAL COMPARISON OF
BROKER PORTFOLIO (P.A.)
MULTIPLE LEVERS
FOR GROWTH
Insurers
Brokers
Customers
1
1

10. 8Reinventing insurance at scale © 2019 wefox Group

11. Individual
Highly customizable
transparent products
Covering the basics - A digital insurance company
9Reinventing insurance at scale © 2019 wefox Group
Fully digital
100% online,
purely real-time
Chatbot &
Document Center
State-of-the-art
comms, no paperwork,
readiness for robotics
SLA driven
24/7 immediate
availability
Claims handling
Immediate payments
Giveback
Bonus system to reward
e.g. claims behavior

12. Seamlessly integrated into the wefox marketplace
10Reinventing insurance at scale © 2019 wefox Group
Real-Time Integration
• Technology fully integrated with
wefox platform
• Real-time policies available to
brokers and customers
Integrated Claims
• ONE technology available via
wefox app
• Digital claims processing and
feedback via wefox wallet
Digital Documentation
• Full documentation available
digitally via wefox app
• Automated updates of
amendments, terms, conditions
via wefox wallet
Integrated Policy
Management
• Automated ‘customer data’
feed between wefox and ONE
• Policy amendments for ONE
policies via wefox wallet

13. Tech-driven product insurance innovation
11Reinventing insurance at scale © 2019 wefox Group
MODULARIZATION TIMESTAMP IoT CONNECTIVITY
Create one set of independent building blocks with
standardized interfaces that can be packaged into
sales products. A modularized product includes a
set of rules, describing how modules can be
combined.
Ability to provide coverage for variable time periods
with ON and OFF dates. Technically, the smallest
time unit being one second.
Create insurance context with IoT devices
embedded in everyday objects, enabling them to
send and receive data. Examples: mobile phones,
wearables, smart homes, connected cars.
Cover OFF
time
Cover ON
28.04.2018
06:45:59
09.05.2018
18:29:42
“Geo-zone”
x
x
Geo-triggering example
EN
TER
EXIT
Modules
Rules
ONE Bonus System
Sales Packages
Bundled Policies
ON / OFF functionality
Usage-based pricing
Partnership Solution
Role of ONE Coach
Context based Alerts
Context based Underwriting
Context based Pricing

14. Modularising insurance to your actual needs
12Reinventing insurance at scale © 2019 wefox Group
• ONE modules such as ONE Travel
light can be sold in a stand alone
mode
• ONE modules such as ONE Travel
light can be sold on top of an existing
product. This does not have to be an
insurance product, can also be a train
ticket, a flight ticket, a travel booking or
a credit card service
• ONE’s ready-to-go technology,
based on API-standards, allows fast
and efficient integration into
corresponding products and platforms
Premium
breakdown
Household
Terms &
Conditions
(T&C)
Liability
Customer
input
‘Other’
parameter
Travel light

15. Thank you.
LinkedIn: julianteicke
Twitter: @ julian_teicke
13Reinventing insurance at scale © 2019 wefox Group

16. 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 10th year
Over 40 years of combined relevant M&A experience
Routine execution of M&A and financing transactions
with sizes of several billion euros
30 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
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE®
The NOAH Advisors Core Banking Team
Marco Rodzynek
Managing Director & Founder
Jan Brandes
Managing Director
Nikhil Parmar
Director
Olek Skwarczek
Associate
Lukas Schlund
Analyst
December 2014 October 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
October 2016
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
December 2016
August 2017
Financial Advisor to Silver Lake
Financial Advisor to EMK Capital
Investment in
Acquisition of a Majority Stake in
by
by
at a valuation of $200m
November 2019 July 2019
September 2018
Financial Advisor to MagicLab
Financial Advisor to AU10TIX
and its shareholders
Financial Advisor to 10bis
and its shareholders
Acquisition of a 79% stake in $60m Investment in
Sale of 100% in
by
at a valuation of ~$3 billion
at a valuation of $260m by
for €135m to
10Bis