This document provides a summary of an insurance webinar discussing digital disruption in the Asian insurance industry. The webinar featured presentations from representatives of Bought By Many, an insurance aggregator, and Anthropic, an insurtech company, on their approaches to digital distribution of niche insurance products and using data analytics. It also included a presentation from AXA Assistance on providing insurance as a digital service beyond just claims, such as integrating health services. The webinar concluded with a discussion of how insurance business models and products are evolving to focus on partnerships, personalized recommendations, and adding value through integrated digital ecosystems.

1. 1
Why
Telema*cs?
Webinar:
Insurance
Aggregators
In
Asia
29th
September
2015
Webinar:
Digital
&
Direct
Non
-­‐Life
insurance
in
Asia

2. Our
Panelists

3. Discussion
agenda
1
Presenta8ons:
Steve
Mendel:
Bought
By
Many
&
applica*ons
in
Asia
Mitch:
An
InsurTech’s
perspec*ve
on
disrup*on
Xavier
Blanchard:
Insurance
as
a
digital
service
Hugh
Terry:
Strategic
summary
2
Ques8ons
and
Answers
3
Snap
Poll
–
share
your
view

4. Ques8ons
&
Answers
How
to
par8cipate:
If
you
have
a
ques*on
please
type
into
the
messaging
area
and
send
to
the
presenters
Session
format:
The
moderator
will
use
a
combina*on
of
his
own
ques*ons
and
those
from
the
audience

6. Volume
per
category
We use data analytics & social media to address specific
insurance needs in the ‘long tail’ of insurance demand
Insurance
Categories
Mainstream ‘head’
Served by price-comparison
websites and insurers direct
‘Long Tail’ of Insurance Demand
Traditionally served by
small face-to-face brokers
Target for Bought by Many
“Car Insurance”
“Home Insurance”
“Pet Insurance for French Bulldog”
“Travel Insurance with Diabetes Type 2”
“Young Driver car insurance”
Volume per category of insurance demand
6
~40% of insurance premiums (Swiss Re) are in the
“long-tail” but niche consumer needs are neglected
by price-comparison websites

7. We have developed a unique approach to sourcing
customers in the long tail of demand
We recruit groups through social media and
Search Engine channels
Fulfilment is via the partner’s website
In-depth analysis
of >100m lines of
Google search
data
Micro-targeted
advertising,
tailored for use on
social platforms
Community
engagement and
viral marketing,
acting as
‘consumer
advocate’
3

8. 下一代保险中介
4
We have successfully launched 7 white-labelled new products in China in partnership with Ping An, the second-
largest Chinese insurer. These have full online quote & buy journeys and responsive campaign landing pages
accessible through search, WeChat and QQ
Travel Insurance for Self-Drive Holidays:
We have created a separate, secure, member database:

9. Disruption in Non-Life Insurance
Nothing has been disrupted… yet
• Most of the innovation so far has been in
distribution, which is only the smallest tip of
the iceberg
• Insurance has a global value chain and we
are yet to see this value chain reorganise
Product innovation will be the
catalyst
• New products will be a forcing function
for the reorganisation of the value chain
• New paths to market will emerge, leading
to an explosion in innovation
Protection will become distributed
into experiences
• Insurance will no longer be sold, it will be
bought by customers when delivered in
context
• Flexibility in the insurance stack will allow
providers to deploy bespoke offerings
across platforms
What does this mean for traditional
insurers?
• Open platforms will power the distributed
ecosystem
• Insurers will focus on capability strengths
rather than attempting to own the value
chain
1 1
1 2
1 3
1 4

10. What
is
more
meaningful
for
Differen8a8on?
1.
Insurance
product
features?
2.
Customer
Experience?

11. A
richer
and
differen8ated
customer
experience
needs
to
go
beyond
op8mized
and
digi8zed
insurance
processes
Offre
aide
à
domicile
–
Novembre
2015
Insurance
Orienta8on
To
Medical
Providers
Stay
fit
Get
a
second
View
for
chronic
Get
Reimbursed
Emergency
consulta8on
Disease
Management
Find
a
good
doctor
Diagnosis
Insurance
customer
journey
I
buy
I
search
I
claim
I
II
I
renew
I
ask
for
advice/
amend
Health
Customer
journey

12. Insurance
as
a
(digital)
service
:
providing
relevant
interac8ons
with
the
customer
ecosystems
-­‐
beyond
claims
payment
• Health
examples
:
telemedecine,
remote
health
monitoring
combined
with
triage,
emergency
response
capaci8es
12
Offre
aide
à
domicile
–
Novembre
2015
USA
Singapore
France

13. Coopera8on
with
external
providers
&
partners
is
at
the
core
of
customer
relevance
–
and
provides
op8ons
for
ancillaries
• Home
&
auto
:
providing
integrated
ecosystems
combining
home
surveillance
&
monitoring,
emergency
assistance
13
Offre
aide
à
domicile
–
Novembre
2015
Insurance
Claim
Sell
my
car
Breakdown
Managed
repairs
Technical
control
Buy
my
car
Warranty
Accident
Home
Emergency
Tele-­‐
consult
Concierge
SOS
call
Customer
service
Would
be
ready
to
pay
for
such
an
innova*ve
service
56%
« Need help ?
Click !
We call you
immediately.
»

14. Proposi*ons
are
evolving
Digital
Maturity
Curve
Maturity
CustomerSatisfaction
v1.x Digital Basic v2.x Digital First v3.x Digital DNA
Informational
websiteWeb
Forms
User
Account
Dashboards
Personalised
recommendations
Call center
servicing
Digital sales
and
servicing
Pay-as-
you go
Proactive
concierge
Active
sensors
(IoT)

15. Underneath
the
Jargon
there
is
a
major
change
in
product
design
in
the
insurance
industry
Convenient &
Supportive
Simple to use and supportive
throughout the customer’s life
Value Added
services
Personalized and catered to the
customer’s habits and lifestyles.
Integrated with other value added
services
Reducing Risk
Solutions that make our customers
safer / healthier – and also reduce
their costs of insurance
“ECO-­‐SYSTEM”
Proposi8ons
The
Business
Opportunity
:
How
to
apply
this
to
each
line
of
business?

16. Key
Components
in
Digital
Target
Opera8ng
Models
Awareness
&
demand
• Client
connec*vity
• Distribu*on
partnerships
• Content
marke*ng
• Compelling
proposi*on
Sales
Fulfillment
• Mobile
and
digital
first
• Configurable
so
easy
to
change
• Digital
/
voice
/
video
–
mul*-­‐
channel
Sales
Collabora8ve
Partnerships
• Distribu*on
• Rewards
• Marke*ng
agencies
• Wearables/IoT
• Technology
Organisa8onal
• Budgets
&
buy
in
• Agile
as
a
reality
not
an
aspira*on
• Low
cost
as
new
normal
• TOM
architecture
• Talent
acquisi*on
&
reten*on

17. Snap
Poll
3
17
Q .
Which
of
the
following
digital
P&C
insurance
business
models
do
you
think
will
become
the
most
popular
in
Asia
over
the
next
5
years?
How
to
par8cipate:
Just
respond
to
the
ques*on
when
it
appears
on
your
screen

18. Post
webinar
ac8vi8es
Recording
will
be
emailed
to
registered
par*cipants
Next
Webinar
will
be
in
June
–
topic
to
be
announced
soon
Please
give
us
your
feedback
If
you
would
like
to
follow
up
with
any
of
the
panelists
-­‐
Simon
Phipps:
simon.phipps@kpmg.com
-­‐
Steven
Mendell:
steven@boughtbymany.com
-­‐
Mitch
Doust:
mitch@trov.com
-­‐
Xavier
Blanchard:
xavier.blanchard@axa-­‐assistance.com.hk
-­‐
Hugh
Terry:
hugh.terry@the-­‐digital-­‐insurer.com