FinTech Belgium – InsurtTech Belgium Hybrid MeetUp – David de cock – FVF – 02-09-20

1. How the digitalisation
can connect the insurer,
the brokers and their
customers?

2. Simple…
because
• it allows (can allow) us to focus on what we’re good in,
and
• it enables (can enable) us to do it good

3. 1. Allows us to focus on
 personal contact
 tailored & objective advice
 defense of customer interests
 active follow-up
 things that humans will always do better than
technology

4. 2. Enables us
through use the appropriate digital tools and technologies
 multitarification tools (faster & more complete
comparison)
 efficient exchange of data (e.g. API’s)
 automation of administrative processes (e.g. RPA)
 chatbots for first line customer contact
 webservices with other databases
 …

5. Digitalisation is no goal, it’s a means
Digital is not a thing, it’s a way of doing things
It’s not about IT, it’s about culture and processes.
It’s about being Digital fluent
Digitalisation is an enabler for almost every business,
including the insurance business

6. Digital fluency is the ability to select and use
the appropriate digital tools and technologies to achieve
a particular outcome.
It goes beyond understanding what types of tools are
available and moves into a zone where a person can
choose the right tools based on the situation and knows
how to best use them to meet the situation's
requirements.

7. Challenges
 “new” customer needs & behavior
 new risks (cyber, new mobility,...)
 demographic evolutions (newly formed families, …)
 …
the only constant is change
the ‘change’ as such is not new, it’s the speed of change

8. Customer conditioned by
experiences like bol.com
 buy in seconds, in a few clicks  24/7 availible
 unbeatable delivery time  no extra costs
 money-back guarantee  pay as you want, in
advance or afterwards
and that isn’t their fault!

9. and then they need insurance…

10. …Ooh, and it’s a car insurance,
so we need
Power engine Fuel Make & type
Date 1ste use Invoice value Catalog value
Emission VAT data
safety
accessories

11. So our customer thinks…

12. who wants to entrust their
insurance to a sloth?
Yuzzu
“Touring insurance is now called Yuzzu and if you want a
quote for your insurance, you are always ready within 5
minutes. I may be a sloth, but if I want a quote I want it
quickly, I don't want to fill in hours of forms. That makes
sense, right? I mean, if you use your common sense ...
‘surprisingly smooth insured’”

13. Convenience
Speed
Tailor-made
Compliant²
Complexity
Multiple
suppliers

14. extremely important aspect for
brokers & companies working
with brokers…
To have
sectoral standards
for data models & -exchange

15. Standards facilitate the
ongoing digitalisation by promoting
compatibility and interoperability between
products and processes and by enabling transfer
information between economic agents or
machines, while guaranteeing minimum levels of
quality and safety.

16. In Belgium
unique & mature
standardization structure
Telebib2
huge asset for the broker
in the past, now and in the future

17. Why use a standard?
A
B C
D E
10 interfaces
A
B
Standard
C
D E
5 interfaces

18. Why use a standard?
15 interfaces 6 interfaces
C
A
B
D
F
E
Standard
A
C
E
F
D
B

19. Company 1
BMS1
BMS1
BMS1
X brokers
y brokers
y brokers
Company 2
Company 3
Company 3
Gateway(Asweb)
InsurTech 1

20. Proven added value for brokers &
companies
Significant potential/lever for the
InsurTech companies