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Startup Pitch Battle Seraphin - FinTech Belgium Summit 2016


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Startup Pitch Battle Seraphin
FinTech Belgium Summit 2016

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Startup Pitch Battle Seraphin - FinTech Belgium Summit 2016

  1. 1. First Belgium digital broker Seraphin simplifies all your insurances
  2. 2. Problems Hard to compare contracts Hard to understand the large differences in coverage / prices Hard to distinguish necessary / unnecessary insurances 2
  3. 3. Solution Discover in 3 minutes the insurance you really need Buy your insurance directly from your sofa Keep an eye on your insurances, anytime, anywhere Declare your claims easily, Seraphin does the rest Seraphin, the first digital broker that lets you… 3
  4. 4. Product Insurance cover overview - Gap definition - Buy insurance directly 4
  5. 5. MARKET VALIDATION 35% are ready to buy insurance online 5 Source: Assuralia, 2014 75% are WILLING to have insurance online access 68% are ready to declare a claim online
  6. 6. Target Insurance market (non -life) €12B €120B €1B €12B Belgium France Acquisition & brokerage Yearly  figures 6
  7. 7. Revenue model • Seraphin revenues are commissions paid by insurance companies (=> no extra cost vs. other channels) • Recurring revenues, with breakeven @2000 customers • Moins 1% of French + Belgium market = €50M revenue Intermediation Insurance €5B/yr. Seraphin France  +  Belgique <1%   marché  =   50M€/an 7
  8. 8. Traction and validation/roadmap • Seraphin SA registered and active as a broker • 16 insurers trusts Seraphin: a few of them are initiating real-time technical integration with Seraphin web platform • Seraphin is supported by Innoviris in its development Source:  ASSURALIA 8
  9. 9. Market adoption • The start-up has started in Belgium a protected market dominated by the brokerage <> 60% of the market • The start-up will be scaled-up in France and in other neighbour countries, if conditions permit. 9
  10. 10. Competition - sales Online Offline Single   company Multiple   companies Traditionnal physical brokers 10
  11. 11. Online competition Seraphin Customer  assistance 1.  Inform 3.  Buy 4.  Consult  &   manage 6.  Claim   process 2.  Sorting Comparator Transactional  comparator Seraphin  Online  broker 5.  Be   covered 1.  Inform 3.  Buy2.  Compare Digital  Market as  is Seraphin 50  en  Europe 3  principaux   en  Europe 11
  12. 12. Analyse SWOT Seraphin • Team • MVP • First  fundraising • Insurance inertia • Slow  take off • Complexe  regulation • First  mover advantage • Large  market
  13. 13. Xavier  Lombard CEO,  48  years He  has  started and  run Verdesis 2002-­2013   Jacques  Galloy Administrator,  45   years.  Business   Ange. Ex  CFO  of  EVS Vincent  Becker Drector Risk Management He  has  28  years of  experince in   Risk Management.   Henri  Villebrun Administrator,  46   years. 20  years of   Insurance,  digital   transformation  with Proximus Tanguy  Bocquet Director of   Developement,   25  years.  Digital   Native,   experience with ING,  Canal+,   U.N. Benoit-­Marie   Flach Shareholder,  27   years.   Digital   transformation  of   insurance – expert  in  UX The team Thomas   Vanderstraeten Director Technology,  27   years. Ex  Bain  &  Co.   consultant,   specialized in   financial services   digitalization 12
  14. 14. Investment and use of funds • 650.000€  has  been  raised  amongst  the  funders  in  cash  and   kind.   • Subside  in  process 220k€ • Seraphin  is  raising  1,5M€  up  to  2,5M€ • Coding 300k€ • Cost  of  Acquisition  Customers 400k€ • Development  in  France 1.000k€