1. Picture to Data (P2D)
Revolutionizing work flows to the 21st
CenturyYuchen Su  Jun Sen Ang  Oren Finard
No. of interviews Day 0: 12
No. of interviews Day 1: 18
No. of interviews Day 2: 16
No. of interviews Day 3: 18
No. of interviews Day 4: 6
Total no. of interviews to date: 70

2. Key Partners Key Activities
Key Resource
Customer
Relationships
Channels
Customer
Segments
Value Propositions
Cost Structure Revenue Structure
-Insurance companies
-Insurance quotation
companies
-Insurance broker
-TPA
-Smartphone users
Client
-Improve efficiency by saving
time required to enter data
-Customizable to fit their
existing system
-Client is free to manipulate the
data extracted (Store in their
database, conduct analysis)
-Can be extended to other
services like health insurance,
accident claims
-Increased sales
End User
-Quick and easy approach to fill
forms or access various
services provided by the client
-Insurance
companies
-DMV
-PDK
-Tool development
-Service and maintenance
-Compatibility assurance
-Web and on-site support
-Customization
-Software developers
-Marketing -Face-to-face meetings with
clients
-Work with a company to
develop beta product
-Implementation on
existing Apps in the market
-Installation fee
-Licensing fee
-Premium for customization
-Development costs
-Marketing and advertising cost
-Cyber security costs
-Database cost
-Dedicated maintenance
-Consultation
-Extended partnership to
further develop product
Day 1

3. What we felt on Day 1

4. Day 1 – Takeaway
• Some hypotheses were difficult to verify due to accessibility issues
o Need to speak to people with the purchasing power
• Finding the right questions and explaining the product/technology is
an art
• The world is more digitized and less paper-dependent than we thought
• We need to sell a solution not technology

5. Key Partners Key Activities
Key Resource
Customer
Relationships
Channels
Customer
Segments
Value
Propositions
Cost Structure Revenue
Structure
Healthcare
- Hospitals
- Surgeons
Insurance
-Operations
department
(Claims,
Underwriting)
-Improve accountability of
instruments
-Improve efficiency
-Less liability and labor
saving
-Saves time
-Customize to fit their existing
system
-Client is free to manipulate
the data extracted
-Can be extended to other
services like health insurance,
accident claims
-Tool development
-Service and maintenance
-Compatibility assurance
-Web and on-site support
-Customization to client
needs
-Software developers
-Marketing
-Development costs
-Marketing and advertising cost
-Installation fee
-Licensing fee
-Premium for customization
-Insurance companies
-Hospitals
-Face-to-face meetings with
clients
Get: Online advertising,
Personal sales
Keep: Dedicated service
and maintenance. Ensure
compatibility.
Grow: Innovation. Keeping
up with state of the art
SMEs
-Retail stores
-Insurance agencies-High level of customizability
-Improve productivity
-Value for money
-Easy to implement
Day 2

6. Day 2 - Takeaway
• We need to focus on a customer segment
• Small/Medium business owners are not implementing such
documentation technology because there is limited value-add to their
operations
• Text recognition technology has sailed
o Existing software compete based on partnerships they have
o Had to pivot and focus on picture/object recognition
• Looked using object recognition as the main value proposition

7. Key Partners Key Activities
Key Resource
Customer
Relationships
Channels
Customer
Segments
Value
Propositions
Cost Structure Revenue
Structure
Insurance:
Consumer focused
business (ie
Personal lines)
-Underwriting
department (front end)
- Sales and Marketing (
Front End)
Front End
- Improved user experience
- Saves time and effort to
enter information
- Promotes direct interaction
with customers (without
aggregators)
- Accelerate sales and
reduce overheads in the
mass market environment
- Attract more users
-Tool development
-Service and maintenance
-Compatibility assurance
-Web and on-site support
-Customization to client
needs
-Software developers
-Marketing
-Development costs
-Marketing and advertising cost
-Installation fee
-> Flat fee
-Licensing fee
-> Tiered based on usage
-Premium for customization
-Insurance companies
-Face-to-face meetings with
clients
Get: Personal sales, Free
first consultation
Keep: Dedicated service
and maintenance. Ensure
compatibility.
Grow: Innovation. Keeping
up with state of the art
Insurance:
Back End
Operations
-Claims department
Back End
- Reduce time required for
claim adjusting process
- Instant assessment of the
damage (indicative)
- Data captured for future
analytical purposes that
facilitates better
underwriting
Day 3

8. Customer Archetype
• Insurance companies where high volume, low claim transactions are a
significant portion revenue
o P&C Insurance companies
• Overheads are significant
o Relatively large size
• Work process consist of low complexity routine tasks

9. Value proposition
Bumper $3
Front Hood $12
Engine $75
Front Axel $36
Cup Holder $15
Miscellaneous $7
Total $148

10. Value proposition
Bumper $3
Front Hood $12
Engine $75
Front Axel $36
Cup Holder $15
Miscellaneous $7
Total $148
Picture To Data

11. Minimal Viable Product
A
P
I
Car photo
database
List of
damage parts
Customer
information
databaseCustomer records
All the required data
Claims estimated repair cost
Claims estimated
repair cost

12. Day 3 - Takeaway
• Some sectors in the insurance companies that are interested willing to
pay for this product
• Identified a clear customer segment and defined an archetype
• Conceptualize implementation details of the product

13. Key Partners Key Activities
Key Resource
Customer
Relationships
Channels
Customer
Segments
Value
Propositions
Cost Structure Revenue
Structure
Insurance:
Consumer focused
business (ie
Personal lines)
- Underwriting
department
- Sales and Marketing
- High volume, low
premium business
transactions
Front End
- Improved user experience
- Improve productivity in the
underwriters
- Promotes direct interaction
with customers (without
aggregators)
- Accelerate sales and
reduce overheads in the
mass market environment
- Attract more users
-Tool development
-Compatibility assurance
-Web and on-site support
-Customization to client
needs
-Sales and marketing
-Software developers
-Marketing
-Development costs
-Marketing and advertising cost
-Website maintenance
-Installation fee
-> Premium for customization
-Licensing fee
-> Based on cost savings
-Insurance companies
-Documentation
management software
-CRM software
-Auto parts companies
-CCC
-Audatex
-Face-to-face meetings with
clients
-OEMs
Get: Personal sales, Free
first consultation
Keep: Dedicated service
and maintenance. Ensure
compatibility.
Grow: Innovation. Keeping
up with state of the art
Insurance:
Back End
Operations
-Claims department
Back End
- Reduce time required for
claim adjusting process
- Instant assessment of the
damage (indicative)
- Data captured for future
analytical purposes that
facilitates better
underwriting
Day 4

14. Revenue Stream
• Installation fee
o Premium for customization
• Licensing fee
o Proportion of cost savings

15. Revenue Model
Development costs
Instal-
lation
costs
Mark-
eting
costs
Installation
fee
Licensing fee
Fixed Costs Variable Costs Revenue
No. of claim adjusters in a large insurance companies: ~3000
Each valued at: ~$60k/year
If we improve productivity by 15%
Cost savings: 3000*0.15*60,000 = $27,000,000
If we were to sell our product at 10% of the cost saving we get = $2,700,000

16. Channels
Direct Sales through
partnerships and
targeted marketing
OEM: Sold as part
of software package
Software
Package Sold

17. Day 4 - Takeaway
• Various ways to price our product
o Pricing based on a percentage of cost savings
• Necessity of prototype
• OEM channels are a possibility but very difficult to execute
o Software company is sticky about incorporating third party software directly into
their package
o That said, they were still interested in the product

18. Key Partners Key Activities
Key Resource
Customer
Relationships
Channels
Customer
Segments
Value
Propositions
Cost Structure Revenue
Structure
Insurance:
Consumer focused
business (ie
Personal lines)
- Underwriting
department
- Sales and Marketing
- High volume, low
premium business
transactions
Front End
- Improved user experience
- Improve productivity in the
underwriters
- Promotes direct interaction
with customers (without
aggregators)
- Accelerate sales and
reduce overheads in the
mass market environment
- Attract more users
-Tool development
-Compatibility assurance
-Web and on-site support
-Customization to client
needs
-Sales and marketing
-Software developers
-> 6 Software
developers
-Marketing
-> Short Run: Personal
Contacts
-> Long Run: Sales
Team
-Development costs
-Marketing and advertising cost
-Website maintenance
-Installation fee
-> Premium for customization
-Licensing fee
-> Based on cost savings
-Insurance companies
-Documentation
management software
-CRM software
-Auto parts companies
-CCC
-Audatex
-Face-to-face meetings with
clients
-OEMs
Get: Personal sales, Free
first consultation
Keep: Dedicated service
and maintenance. Ensure
compatibility.
Grow: Innovation. Keeping
up with state of the art
Insurance:
Back End
Operations
-Claims department
Back End
- Reduce time required for
claim adjusting process
- Instant assessment of the
damage (indicative)
- Data captured for future
analytical purposes that
facilitates better
underwriting
Day 5

19. Next Steps
• Develop a prototype
• Continue doing Customer Discovery until we find a client
willing to work with us to develop the product
o Provide us the forms and access to their system
• Be on a lookout for talented individuals that can execute out
key activities
o Application developers
o Machine learning experts