A pitch deck by a Nigeria-based insurtech startup - Digital solution for insurance inclusion in Nigeria. Detailed strategy to increase insurance penetration in the retail market segment, with a focus on digital insurance transformation

1. P I T C H D E C K
S e u n A y e g b u s i - F o u n d e r / C E O
N i g e r i a ' s 1 s t F u l l y D i g i t a l I n s u r a n c e P l a t f o r m

2. “A fully digital insurance experience”
Coverdor is an insurtech startup focused on insurance
digitization, direct-to-customer distribution and cross-selling
distribution.
Our flagship product is focused on Home Content Insurance; a
single item coverage that protects the things you love.

3. The Problems We Solve
Tade is a 30 years old Nigerian
millennial who is daily faced with
risks associated with the average
adult life in Nigeria.
• Complex Insurance procedures
• Inefficient and non-customer-centric
distribution channels
• Prolonged insurance transaction (policy
purchase and claims processing)
• Unreliable insurance agent relationship
for managing users policy
• Lack of innovative insurance products
that fit users lifestyle

4. Usage Barriers account for 84% of the reasons for
low insurance inclusiveness in the retail market
segment.
***Usage barriers include insurance illiteracy, non-customer-centric insurance
product, and hassle factor (e.g filling of forms and other complex procedures)
Lagos Business School - ELFINA

5. Our Solution
• Streamlined insurance process with
100% paperless transaction
• Easy access to Insurance (omnichannel
accessibility)
• Automated Insurance Transaction:
policy purchase and claims processing
(3minutes)
• Self-serviced insurance policy
management system that replaces
insurance agents
• Innovative insurance products that fit
users lifestyle (single asset coverage)

6. MARKET SIZE
>$1
Billion
$60.7
Billion
B2C Segment: Millennial population - makes up to 48% of the total Nigeria
population (18-35years)
B2B Segment: E-commerce and Retail Outlets, other Corporate Businesses
TARGET MARKET - retail market segment
Nigeria Insurance Market
2018 - NAICOM
Africa Insurance Market -
AfricaInsuranceOrganisation
$10
Billion
Nigeria Insurance market
gap - IndexConsulting

7. • Instant cover
• Cash-back when claims free
• Unlimited Claims
• 6 months warranty on replacements
• A-rated gadget repair services
• Fast and friendly claim services
• Reliable Insurance carrier backing
Key Policy BenefitsWhat is covered
• Mechanical Damages
• Liquid Damage
• Accidental Damage
• New and Old gadgets (6months)
• Repairs and Replacements

8. Mobile-first Web App
Insurance API
Insurance POS Portal
Features of the Web-App
• Price Quote
• Integrated Billing & Payment
• Claims Fulfilment
• Policy Management Dashboard
A cross-selling solution for
e-commerce stores
A cloud-based insurance
cross-selling solution for
Retail Outlets
Insurance PLUGIN
A cross-selling solution for
e-commerce stores

9. Growth Strategy
How we will scale our business
Acquiring Customers
• Social Media Marketing
• Search Engine
Optimization and
Marketing
• Video Marketing
• Influncer Marketing
• Activation Events
• Account-based
Marketing- for B2B
segment
Retaining Customers
• Coverdor Agent at
Partner Outlet
• Online Customer
Service Channels
• Push Notifications
Staying Competitive
• Filing Patents
• New Insurance
Product Line
• On-going Digital
Insurance Solutions
Development

10. • Policy Distribution and Policyholder
Enrolment
• Online Platform development and
maintenance
• Marketing and Promotions
• Customer Support and Engagement
• Product Innovation and Development
• Policy Administration
• Claims Management
• Business Process Digitization

11. Partnership: to facilitate an
underwriting partnership with
an Insurance Carrier
Funding: to raise seed round
through either Equity
Financing or SAFE

12. • Access to a new market segment
• Stronger competitive advantage
• Successful digital transformation
INNOVATION - DISRUPTION - OPPORTUNITIES

13. • Number of policies sold directly from the platform
• Number of e-commerce partners acquired
• Number of retail outlets acquired
• Number of other insurance product verticals developed

14. Unfair Advantage
• Omnichannel accessibility to insurance
• Technology patent (pending)
• Access to new market demographic
• Digitalization: covers large part of the insurance value-chain
Competitors
Digital insurance comparison platforms
• Autogenius.com
• CompareInsurance.com.ng
Traditional Insurance Distributors (Brokers and Agents)

15. Revenue Model
20%
Transaction fee on very policy sales
via our platform
5% Investment income

16. Financial Projection
Year Year 1 Year 2 Year 3 Year 4
Policy Sold 108,000 410,000 1,500,000 8,000,000
Revenue #129,600,000 #492,000,000 #1,800,000,000 #9,600,000,000
Gross Profit #121,592,000 #467,500,000 #1,702,000,000 #9,110,000,000
OPEX #47,428,000 #189,400,000 #752,650,000 #3,488,340,000
EBIT #82,172,000 #278,10,000 #949,350,000 #5,621,660,000

17. Founding Team
Oluwaseun Ayegbusi (CEO)
LinkedIn: www.linkedin.com/in/oluwaseunayegbusi
Ex Team Lead - Bus Dev @ Identity Tech
Over 5years experience in Bus Dev, Product Dev,
Strategy, Sales & Marketing
Oluwayomi Olabanjo (CTO)
LinkedIn: www.linkedin.com/in/yomiolabanjo
Ex- Cofounder @ FunaabPay
Over 6 years experience in Software Development,
AI Infrastrusture, and a Microsoft Professional

18. Required Investment
Use of Fund
Seed Round: $350,000
Product Launch
Marketing and Channel Partner Acquisition
File Patent
Scale Technology Infastructure

19. Big Opportunity: First market mover;
Nigeria's 1st fully digital insurance platform
Strong Team: Technology/execution
experience/Deep Market Knowledge
Seeking Funding: $350,000
Tech Advantage: Proprietary AI technology
Summary

20. Thank you!
For questions and enquiry
Email: seun.ayegbusi@coverdor.com
Phone: +234-810-844-2476