Digital nomads are appearing all around the world. From entrepreneurs looking for a better quality of life to young students wanting to enjoy their first job opportunity. From an insurance viewpoint there are so many opportunities to be shaped and harvested if considered from a consumer lens. Here are just some thoughts on how the digital nomad is seeing the world right now and where insurance could play.

1. Fulfillingthe needs of
the DigitalNomad
Howfutureinsuranceengagementscouldaddresstheneedsofa transientworker
Amulti-millionmarketopportunityforthedisruptiveinsurer?

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Digital…
Understandingthe needsof the DigitalNomad |DEFINITION
Individuals,oftenfreelancers,thatwork
mostlyviatheinternet,smartdevices&
cloudapplications…
Nomad
eitherfromhome,anothercity’s
coworkingspacesordigitalfacilities
Digital nomads arepeople whoseek independence through
the use ofdigital technologies to perform their job.
Today,4.8millionworkersorfreelancersdescribethemselvesas
digitalnomads.
Anestimateof10million workersarealreadycategorizing
themselvesgloballyasdigitalworkers.
Atthesametime,17million independentworkersaspireto
somedaybecome nomadicin theirbehavior,wayofliving&
working.
Predictionsestimatethissegmentwillgrow 10foldswithinthe
nextfewyears.
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Many people today can do their job from anywhere in the world providingthat they have access to a
computer and a reliable internet connection.
Covid-19 has only accelerated the trend for remote work. 77%of employees according to a survey by
Forbes magazine, said they‘d prefer to continue to work flexibly from their home office.
With the Northern Hemisphere winter approaching fast, tech workers in the UK use the opportunityto
move to warmer countries - although Brexit can pose challenges for UK’s digital nomads wanting to
relocate in Europe.
3
Understandingthe needsof the DigitalNomad |AFEWFACTS

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Understandingthe needsof the DigitalNomad | DESTINATION
Digital Nomadscan earnas littleas $50,000 (22%) to
$100,000 (18%) or moreperyearthroughonlinefreelance
work,social marketing,tutoring,coaching,houserental,etc.
Despitepotentialreducedturnover,remoteworkersoften
reporthigherlevelsof employees'retention& engagement,
higheremployeesatisfaction,increasedproductivityand
autonomy
Hotspots for remote work
1.BuenosAires,Argentina| 2.KohLanta, Thailand| 3.PlayadelCarmen,Mexico| 4. Medellin,Colombia| 5.Budapest,Hungary| 6.Krakow,Poland| 7.Lisbon,Portugal|
8.Tbilisi,Georgia| 9.Prague,CzechRepublic| 10.Taipei,Taiwan| 11.Tallinn,Estonia| 12.LasPalmasde GranCanarias,Spain| 13.Belgrade,Serbia

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Remote work is changing how the globalworkspace operates for good
5
Understandingthe needsof the DigitalNomad |DRIVERS
Remoteworkisforall Space&Adventure Network&Socialise Affordability
Being able toafforda much more
comfortable living standard, aswell as
save moneyforfuture investmentsisone
ofthe maindriversforbecomingadigital
nomad.
The lowmaintenance cost ofsome
countriesagainst fees/salariespaidin
strongercurrencies makes itparticularly
attractivefor the experience-driven
millennialsto embracethese overseas
journeys.
Remote working hasprovenpossibleand
desirable,notonly forfreelancers butto
officeworkerstoo.
Twitter and Facebook are now allowing
employeestowork remotelyindefinitely.
They have openednew positionssuch as
the “headofremoteworking” role.Those
movessuggest that market disruptors&
growthcompaniessee remote work as
the future of work.
A younger workforce with littletobe
attached to(high rents, shared spacesand
slimchances toget intothe housing
market) feels easy topack their belongings
and embrace an “alternativeworkstyle”
away fromhome.
The ideaofcombiningwork with travel
adventureisnow boostedby the need for
a comfortablespacetowork fromand
more accessto lifestyleand the outdoors.
Millennialsand the younger generation
have reportedhigh levelsof loneliness
and anxiety.
Whilst workingfromhomecan increase
the sense of isolation,the digitalnomad
movementis, for many, a way of
connectingwith likemindedpeople,
network andevencollaborateinnew
ventures.Some countriesarebecoming
real meccas forremoteworkers with a
sense ofcommunity.

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Driver Accommodation Transport WIFI Food Healthcare Experience Crime
Prague
CzechRepublic
Topdestinationforremoteworkers
$1,000to $1,700forAirBnB
Hotelsupto $2,500permonth.Lowestprice
$770
Publictransport$1.10pertrip$11.20fora5
mile-cabride
Cafes
Co-workingspaces
Lotsofgreenspaces
$6.50permeal
Beer,coffee$1.65-$2.25
Freeemergencycareforall Citizens
Paycashupfront.Validtravel&healthinsurance
required
Safe forwomen
Pickpockets&ATMscamsViolenceis
rare
KohLanta
Thailand
Warmandsunny.Comfortablelife andlow
maintenancecosts
Greatvalueformoney
Hotels$300permonth
AirBnB$500-$1,200permonth
$2perdayforthehireofamotorbikeora TukTuk
WIFISpeed16Mbpsaverage
NofreeWIFI
Packagesavailableinco-workingspaces
Street food$2permeal
Beer&Coffee $2perserving
Basichealth issuescanbedealtwith ontheisland
Morecomplexissuesrequiretravellingtothe
mainland
Little violenceorcrime.
Still, foreignersareoftenchargedmore
thannormalprices
PlayadelCarmen
Mexico
Makesit easierto workwith the USA
Fromroomto apartment
$500-$1,000permonth
Lowestprice$650
$0.40taxi/bus
$7returntripto CancunorTulum
Taxi$1.5to$3perjourney
Notgreatbuttheyareco-workingspace&
WIFIcafes
$200permonthrentalfeeforco-working
spaces
$3-$5permealforlocalfood
USmeal$20permeal
Beer&Coffee $1.5to$2.6perserving
Goodtravelinsurancerequiredwith healthcare
Localclinics &hospital-relatedworkarelinkedwith
majorinsurers
Highlevelof crime
Opportunisticthefts
Taipei
Taiwan
Safe destination
Directflights to manyAsiancities
90daysvisafreepolicy
Quite warmallaround
AirBnB$1,500-$900
Hotelsaverage
$1,300permonth
Hostel$600permonth
$0.65persinglejourney
Bikehire$1perhour
Lotsofoutdoors(hiking,biking)
WIFISpeed20Mbpsaverage
Spacious&friendlyco-workingspaces
Safe &friendlyclean cafes
Supercheapmeals
Beerandcoffees$4perserving
Highstandardsforhealthcare
Subsidizedhealthcareviainsuranceforprivate
healthcare
Longwaittimeforservices
Safe
Nottoomuchcrimeorviolence
LasPalmasdeGran
Camelia
Spain
Warmwinters
Greatallaroundwith low costsof living
Hikebike,swim,adventuresport,night
excursions)
AirBnB$1,500to $1,800permonth
Hostel$800permonth
- Bikefriendlycitywith bikehireat $6perday
- Bus$2pertrip
- Wholeisland$7eachway
- Carhire$10-$15perday
WIFISpeed27Mbpsaverage
Goodworkinglocation
Excellentco-workinghubsthat arewelcoming
&inviting placesformillennialsto work
Foodis expensive
$9.50permeal
Still greatactivities andentertainment
Goodmedicalcare:private&public
Europeancan haveaccessto freepublichealth
Opportunisticcrime
Pickpocketing&pettythefts
Violenceisrare
Belgrade
Serbia
FriendliestCityin Europe
AirBnB$700amonth
Hotel roomrental$400
Lowcosthotels-$50pernight
Monthly publictransportpass
$30
Plentyof co-workingspace
ExcellentWIFI
$150monthlypassforco-workingspace
rentals
Lowcostmeal$6
Underfunding&chroniccorruption
Musthavetravelhealth insurance
All medicalneedsmustbepaidforupfront
Pickpocket
Pettythieves
Lowviolentcrime
Lisbon
Portugal
EUnomadcanstayindefinitely with noVisa
requirement
$1,200to $2,000costof livingpermonth
Lowestprice$900
Highfarecostfortransportation$42permonth
Cafes
$12monthlypasscostforco-workingspace
rentals
Foodisexpensive
$9.50permealminimum
FreehealthcareforEUmemberswith EUinsurance
card
$100permonthforpublicmedicalcare
Violentcrimeis rare
Understandingthe needsof the DigitalNomad| WHAT DO THEY NEED?
Digital nomads are looking for a variety of services when overseas

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Accessto health: When thethought ofgoing overseasfora period starts,many digital nomads
opt fortravel insurance instead of moreexpensiveexpats medical options. Theyoftendiscover when
theneedhits thattheymay not becover for specific cases dueto their“Nomadistic” status.
Transport tohospitals that candealwith the ailmentorissue: Many ofthelocations
selectedby digital nomads arenot theclosest to greatquality health services (e.g.Nomads with major
issues musttravel fromKoh Lanta to Phuketor Bangkok tobeseen).
Sustainable living:Some ofthemorepopular destinations can beoverrunby noise, pollution,
crime and otherissuesdue tointensetourism. Health issuescan emergedueto pollution. The
potential resulting loneliness fromremotework also driveincreased levelofmental health issues.
Cultural differences:Dealing with health issues in a differentcultural setting can bea confusing
and overwhelming experiencewhen needinghealth assistance abroad. Itis thereason why platforms
such as PingAn’s Good Doctor revealshelpful forforeigners.
At homehealthcare: Access to freehealth services back home may besubject to proof of
residencein thatcountry, and paying for regional private health insurance can becometoo expensive
to justify when living abroad fora long period of time.
Understandingthe needsof the DigitalNomad| POTENTIAL PROBLEMS
Potential Problems impacting digital
nomads
“Itismorethanthe healthcare
arrangement"

8. A growing number of travel insurance companies now offer
packages tailored for the digital nomad profile, but there is
plenty of opportunities for meaningful innovation
Understandingthe needsof the DigitalNomad| POTENTIAL SOLUTIONS
Looking beyondhealth
insurancefortheall-around
TravelPartner
Solution requirements:
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A market with new opportunities for growth that are emerging
9
Understandingthe needsof the DigitalNomad |THE COMPETITIVELANDSCAPE
Efficiencyinnovation Sustaininginnovation Transformativeinnovation
ParametricClaims NewServices Emergingbusinesses
Improvingfunctions,operationsand
processes
Developingnew engagingproducts and
services
Designingandlaunchingnewbusiness
models
o Addingartificialintelligence,behaviouralscience
andcomputer visionto keyprocessing
o Behaviouranalytics& gamification
o fraud,waste andabusedetection
o Telemedicine&onlineconsultations
o Digitizedengagement journeywith multipleservices
o Cloudplatform bringingsimplicityandtransparentto
the customeron theirpostivelifestylebehaviour
o Entryinto anew market
o Developmentof digitalmarketplacesand
ecosystems
o Mergerof strongbusinessunits
o Developmentof disruptivecapabilities
Example: PolicyPalpartneredwith Ergoin2018to deliver
parametrictravelinsuranceclaims. PolicyPalhasbeen
acquireearly2020.
Example: AIG Lifepartners withYulifeto developnew
insurancepropositiontargeted at the UKmarketusingAI&
behaviouralscience
Example:Prudentiallaunchesin11marketsPulseby
Prudentialmostlytargeted at ayounggenerationin
AsiainMarch2019

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Understandingthe needsof the DigitalNomad |INCUMBENT STRATEGIES
Companyname:
TotalTurnover:
Numberofemployees:
Growth rate:
Sector:
TransferStrategyDeployed:
Healthcare direction within the lifestyle & chronic diseasearea:
Strategy:
Launched venture& ecosystem-basedplatform called “Pulse by Prudential”:
Prudentialis buildinga digital ecosystem to provide a full suite of offerings to matchcustomers’needs,from health and wellness
to payments,wealth managementand enterprise services.
Pulse by Prudential is a digital health app that is the first of its kind to offer holistic healthmanagementto Asian consumers.
UsingArtificial Intelligence-poweredself-help tools and real-time information,the app serves as a24/7 healthand wellness
partnerto users,helpingthem prevent,postpone, andprotect againstthe onset of diseases. Example of venturesmade available
throughthe platform.
Theapp received 30k download andeachapp generatesapproximately $5kto $10k per monthaverage.So anestimate $1million
to $2 million per year at present& scaling.
Healthcare & Wellness Management:
Babylon: Health assessment,triage, AI symptom checker
MyDoc:Telemedicine offering video consultationwith a doctor, electronic prescriptions,medicine delivery, electronic medical
certificates and onlinerecords.
TicTrac:Wellness, engagementand rewards
Halodoc:Telemedicine services (onlinedoctors, prescriptions,laboratory tests, schedulehospital appointments)
Disease Management:
Prenetics: DNAtestingto enableapersonalinnovativeDNA-basedhealth& nutritionprogram.
HeartHealth: Partnershipwith PAIHealth’sscience-backedactivitymetric forheart health,known asPersonalActivityIntelligence.PAI
quantifiesthe exactlevelof physicalactivityeachpersonneedsto reducethe riskof cardiovasculardiseasemortality.
PRUDiabetesCare(Malaysia): Policydesignedspecificallyfordiabeticswith relativelygoodcontrolof theirmedicalcondition.
PrudentialPLC
$93BN
23,792
3%
L&H Insurance
Partner -Invest
Company background :
UKbasedMultinationallifeinsurancecompany.It isa significantproviderof Lifeinsuranceinthe USand aleadinginsurer in
Asia(serving14countries).Prudentialhas 20millionlifecustomers. Currentstrategyshowsa clearinterestto expandin
growth Asianmarketsinparticular.
Prudentialprovidesa wideassortment of insuranceandinvestment productsand services.Insuranceproducts includelife,
accidentandhealth, andpropertyandcasualty,aswellasfixedand variableannuities.Prudential'sservicesincludepersonal
andgrouppensions,equityplans,mortgages,anddepositaccounts.

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Prudential DigitalStrategy
Prudentialactivelyembraceschangeand the latesttechnologythrough atwo-wave strategyfocuseson1)increasingautomation and
improvingdigitalcapabilitiesintheircurrentbusinessmodel forbetter customer experienceleadingto better businessresults 2)addinga
new businessmodelbasedona customercentricdigitalecosystemwhichismanifested in Prudential’sSuperAppbrandedPulse by
Prudential. Thisinorderto focus onthe digitalnativesand SMEmarketsegments.
First wave: Enhancing current business model
o Increasetheautomation withinoperationsviasecuredigitalpayment,lifestylee-wallet,Mobilecloud,onlineplatforms to improve
both businessefficiencyandcustomer experience,particularlyforthe digital-savvycustomer. In2019,submitted through e-point-of-
saletechnology83%of allits newbusiness,representinganincreaseof 11%pointsyear-on-year,with enhancement linkedto specific
Asianbancassurancepartnerships.64%of allnew salesaremadeviasmart underwritingtool offeringdynamicunderwritingthat
streamlinesthe applicationprocessand communicatesinstant underwritingdecisionsto customers.
Second wave: Buildingan ecosystem-based business model
o Movingfromprovidingprotection to makingcustomers healthierbyaddingan ecosystem-basedbusinessmodelmade availablevia
PulsebyPrudential.. Basedonrealdataand artificialintelligencetechnology,the appisbuiltonthe latestarchitecture,ishighly
scalableanddeliverspositiveoutcomes forcustomers. Thebusinessmodelusesa widerangeof partnershipsand thelatesttrendsin
healthand wealthtechnology,addingpreventionandpostponement to the Prudentialprotection business.Prudentialsecured18
market-leadingpartners acrossanarrayof different elementsto acquireusers atpaceand gainaccessto newdata, whilstenabling
eachcustomer to enjoyawide rangeof affordable andvalue-addedhealthcareservicesto ensurelongand healthierlives.
Understandingthe needsof the DigitalNomad |INCUMBENT STRATEGIES
Ecosystempartners Markets(tobe)covered Ecosystemelements
Regional Healthassessment,triageAllsymptomcheck
Malaysia OnlineConsultation,Telemedicine
Indonesia Telemedicine
Regional Telemedicine
Regional Wellness,engagementandrewards
HongKong DNA testing
Indonesia E-payment,alternativedistributionchannel
Malaysia E-payment
Malaysia Denguealert
Regional SMEcloudcomputing
Regional Dataanalyticsandleadgeneration
Regional UOB’sdigitalbank
Myanmar Digitalhealthcare
Myanmar Wellness,engagementandrewards
Thailand Digitalserviceprovider, Group business
Vietnam telecommunicationende-payment
Thailand customersandbehaviourdata,alternativedistribution
Thailand telemedicine
Highlights ofkeyecosystempartners

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Yu Life isa lifestyleinternet firstlife insurer that combineslife insurance,
wellbeing, gamificationtechniquesand rewards ina simpleapp.Yu Life offers
flexible(Pay-as-you-go)life insurance toconsumers with no medicals.
The appencourages every dayhealthy behaviourcreatingteamsthat are
healthier.
Mission: Change life insurance for good
Domain Area: Internet-first digital platform
turning old-fashioned employee perks into life-
enhancing benefits
Founded: 2016
Raised: $17m - Series A (last raise May 2019)
YuLife is the first digital life insurancecompanyon amission to inspire life.
Yulife motivates customersto keep holistically healthy, and workwith wellbeingbrandsand ambassadorsto develop incentives
via its app.
TheYulife business-to-businessproposition is built to help firms attract andretain employees by demonstratingtheir care for
financial, physicaland mentalwellbeing.
Theapp usesbehaviouralscience andgame mechanicsto reward people for livingwell and provides direct access to virtual GP's
and mentalhealthsupport. Theresultis a highly engagingproposition thatdrives lasting healthyhabits as well as actionable HR
insights for businesses.
Features:
 YuLife’s app offers users“yucoin”for completing wellness activities, from exercise to mindfulness,whichcanthenbe
converted into vouchersor discounts for a rangeof popular products andservices.
 YuLife’s rangeof wellbeingservices is intended to allow for treatingindividual employees differently. Thatvaried approach
offers employers the opportunity to demonstrate their care andcommitmentto employees
YuLifePartnerships:UK's best-knownbrands,includingASOS, Avios, M&S, Fitbit, Nike and JohnLewis, to provide userswith
the services andgifts whichthey mostwantand need.Designed behaviouralscienceand artificial intelligence led proposition with
AIGLife to help build deeper andmore rewardingrelationships with customers.
Understandingthe needsof the DigitalNomad| DISRUPTIVE MARKETENTRANT

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Tictrac isa connectedhealth engagement platformforinsurance providersthat
letsthemengage their patientsacrossLifestyle and Prevention,Chronic Condition
Management and MedicationAdherence. Tictrac combinespersonaland 3rd party
data, providingconsumers with “personalanalytics”and insightsinto their
lifestyle.The companycombinesbehaviouraleconomics,data science, and
predictiveanalyticstosolvethe costliestissuesin healthcare. It supportsalready
insurersin the US and the UK.
Mission: Help solve the self-care crisis
Domain Area: Internet-first digital platform
that engages people in their health, through
their data
Founded: 2010
Raised: $17m - Series A (last raise June 2020)
Thepersonalisedhealth andwellness platformdesignedto generatelastingengagement andempower peopleto livehealthierlives.
Offers personalisedcontent, lifestylecampaignsandincentivisedchallengesto motivate staff. Itcombinesthiswith behaviouralscience
to identifytriggerpointsto motivate peopleto positivebehaviours.
Engagement through campaigns,partneringwith influencers,gamificationand effort basedtieredbenefit system.
Features:
GuidedHealth Journeys:Personalisedguidancebasedonanindividual’suniqueneedsthat encouragesongoingengagement
anddialogue
Rewards& PromotionalOffers:Rewardyouruser'shealthybehaviourand driveincreasedrevenueswith targetedmarketing of
productsanddigitalservices
PersonalisedDashboards:Customisedhealthdashboardsthat encouragethecapture of valuableconsumerlifestyledata that canbe
usedfor productdevelopment andriskmodelling.
Health RiskDetection& Intervention:Toolsto identifyuserhealthrisksenablingyouto intervenewith preventionprogramsorrun in-
appcampaignsto driveawarenessandeducate users
TicTracengages in anumberofpartnershipsincludinghealthcareandinsuranceproviderssuchasAviva,Allianz,Prudential,aswellas
SingaporeGovernment (Diabetesproduct)
Understandingthe needsof the DigitalNomad| DISRUPTIVE MARKETENTRANT

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