Portugal InsurTech landscape – Helping digital transformation in Europe

1. Portugal InsurTech landscape –
Helping digital transformation in
Europe
19th Nov 2020, 11:00AM to 12:15PM

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Disclaimer
Presentations are intended for educational purposes only and do not replace independent
professional judgment. Statements of facts and opinions expressed are those of the
participants individually and, unless expressly stated otherwise, are neither the opinion nor
position of The Digital Insurer. The Digital Insurer do not endorse or approve, and assume
no responsibility for, the content, accuracy or completeness of the information presented.

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The Digital Insurer (TDI)
Working together to accelerate the digital
transformation of insurance
PURPOSE
• World’s leading digital insurance platform for
individuals and companies
• most valuable knowledgebase
• most engaged community
Collaboration ● Reliability ● Agility
Diversity ● Value-delivery ● Innovation ● Trust
VISION
VALUES
3Working together to accelerate the digital transformation of insurance

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Today’s Panellists

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Discussion Agenda
75
Minutes
Global Overview with Hugh Terry @ TDI
The Portugal Insurtech landscape – launch of Map
Perspectives from Insurance practitioners
Panel discussion
TDI updates and wrap up

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How to participate
How to participate:
If you have a question please type into the Q&A area
If you have a comment please type into the chat area
Session format:
The moderator will use a combination of their own questions and those from the
audience

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Global Overview
Hugh Terry
Founder, The Digital Insurer

8. 8Working together to accelerate the digital transformation of insurance

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TDI POV: Industry Warning – digital
tipping point is approaching insurers
faster than expected
Executive teams must urgently
accelerate their transformation efforts
TDI Academy. Learning for the digital age. 9

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Most insurers will lose 18 – 24 months
…off transformation roadmaps if they want to keep up
Source: TDI estimates
Widening Gap likely for most
Insurers
• Already laggards
• Focus on ‘keeping the lights on’
• Curtailment of ‘discretionary spend’
• Failure to re-set strategically
• All resulting in increased
vulnerability to competitors and new
entrants
Consumer TP was expected 2022
Consumer TP now expected 2020
Insurers need to accelerate digital plans by 2 years to simply “stay still”
TDI Academy. Learning for the digital age.
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“TIPPING POINT”
LaggardsLate MajorityEarly MajorityEarly AdoptersInnovators
2020/21
post-crisis
Remains static pre & post crisis
with tactical focus
Insurer
Readiness
WideningGap
2020 pre-crisis
Consumer
Expectations

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New Market Space is Emerging in Insurance
CONFIDENTIAL – NOT FOR DISTRIBUTION

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TDI POV: Agency alarm bells are
ringing as consumer adoption of digital
accelerates beyond Tipping Point
Insurers, and their agents, need to
urgently transform from ‘traditional
sales’ to an ‘OMNI advisor’ model - not
only to stay relevant, but also to
generate significant growth in the years
ahead
TDI Academy. Learning for the digital age. 12

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Opportunities for insurers to move
into new space
Working together to accelerate the digital transformation of insurance
“Blue Ocean”
Transform
“Red
Ocean”
Evolve
Model
Maturity
Channel
Performance
TRADITIONAL
SalesAgent
DIGITALLY-PRESENT
OMNI Advisor
DIGITALLY-ENABLED
Quality Agent

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“ECOSYSTEMS are the future of insurance
”
Source: https://platformed.info/platform-business-models-are-transforming-insurance/
Will platforms & ecosystems transform insurance?

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McKinsey: Ecosystems 25-30% global
GDP by 2025
Source: https://www.mckinsey.com/industries/financial-services/our-insights/insurance-beyond-digital-the-rise-of-ecosystems-and-platforms

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Bain: Insurer ecosystem opportunities plentiful
Further reading: https://www.the-digital-insurer.com/beyond-insurance-the-new-strategy-for-incumbents/

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Value Chain
Innovations
New Digital
Business
Models
Microinsurance
P2Pcommunity
Health &
W
ellness
Eco-systems
On Demand
Direct
Commercial
Platforms
Comparison
Sites
Claims
Management
Sales
M
arketing
Analytics
Risk
Assessment
Underwriting
Product
Development
Administration
Improving
Today
Reinventing
Tomorrow
TDI’s
“InsurTech Wheel”

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The Portugal Insurtech landscape
João Freire de Andrade
President of Portugal Fintech

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PORTUGAL FINTECH
MATURE
PLAYERS
REGULATI
ON
CAPITAL TALENT
FINTECHS
>
>
>
Startup-centric
Non-profit association
Enabling the Fintech ecosystem

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FINTECH HOUSE
The Fintech House was launched in January 2020 and is the home of the fintech community. On top of a physical space to base their offices, Startups have now a place to
develop their solutions through a closer contact with the entire ecosystem, from banks, insurance companies, partners, technical consultants, legal firms, investors or
regulators.
+170 +40
+25 +30
SEATS
At the Fintech House in
the business district of
Lisbon
STARTUPS
On the network from all
corners of the World
PARTNERS
Contributing and com-
mitted to the growth of
the ecosystem
EVENTS
Organized until the
moment for the
community

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PORTUGAL FINTECH REPORT 2020
The Portugal Fintech Report was first launched in 2017, having launched an annual edition ever since. The purpose of the report is to bring each stakeholder to the state of
the Portuguese Fintech: bringing real and insightful content to major stakeholders of national and international reach.
1
.
INDUSTRY
OVERVIEWCHAPTE
R
3
.
KEY INSIGHTS
CHAPTE
R
5
.
WHERE
REGULATION
MEETS
INNOVATION
CHAPTE
R
2
.
THE TOP OF
FINTECH
CHAPTE
R
4
.
INNOVATION
THROUGH
COLLABORATION
CHAPTE
R

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INSIGHTS ON THE REPORT
WHAT A 2020 PORTUGUESE FINTECH LOOKS LIKE
FINTECHS PER VERTICAL FINTECHS PER VERTICAL
STAGE
GEOGRAPHIC DISTRIBUTION

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INSIGHTS ON THE REPORT
FUNDING AND TALENT
TOTAL FUNDING FROM TOP 30
FINTECHS
SIZE OF PORTUGUESE FINTECHS TOTAL

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INSIGHTS ON THE REPORT
FOUNDERS’ BAROMETER

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INNOVATION THROUGH COLLABORATION

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PORTUGUESE INSURTECH ECOSYSTEM
Find the latest map here: https://www.the-digital-insurer.com/dynamic-insurtech-map-portugal/

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Pedro Rosa Santos
Technology & Innovation Director, Generali

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Nuno Pinto
Co-Founder and CEO, Coverflex

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Eduardo Caria
Group Head of Transformation & Efficiency, Ageas Group Portugal

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Sasha DeWitt
Co-founder & COO, Habit

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Panel Discussion

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Poll
Q. How do you evaluate the state of digital transformation of your
organization?
Response options:
a) Insufficient
b) Transforming but too slowly
c) Transforming at the right pace
d) Digital enough
Snap Poll

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Poll
Q. Where do you find the necessary tech solutions to transform your
business?
Response options:
a) Mainly in Portugal
b) Mainly outside Portugal
c) Balanced between Portugal and abroad
Snap Poll

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TDI Updates

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Digital Insurance Portugal newsletter
Working together to accelerate the digital transformation of insurance
Find Digital Insurance Portugal here: https://www.the-digital-insurer.com/portuguese-digital-quarterly/

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Portugal Fintech Report 2020
Download: https://www.portugalfintech.org/portugalfintechreport2020

44. 45Working together to accelerate the digital transformation of insurance
TDI INSURTECH Directory
The world’s insurtech database

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TDI Mission to map the world of InsurTech
Working together to accelerate the digital transformation of insurance

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Poll: InsurTech volunteers
Would you like to volunteer to help to analyse InsurTechs
and improve InsurTech maps?
Response options
1. Yes, I’m interested
2. Possibly, please send me more information
3. Not at the moment
Working together to accelerate the digital transformation of insurance

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About the TDI Academy
https://www.the-digital-insurer.com/tdi-academy/
Working together to accelerate the digital transformation of insurance

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ADI & CDI compared
2021 Schedule
CDI: on demand
ADI 2021
- January
- April
- September
Working together to accelerate the digital transformation of insurance

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ADI Enrolment Webinar
https://www.the-digital-insurer.com/event/adi-programme-information-webinar-mini-mba-on-digital-insurance-enrolling-now-for-2021-starting-january-27/
Working together to accelerate the digital transformation of insurance

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Poll
Q. How interested are you in virtual learning & development programs
on digital insurance?
Response options:
a) Yes - for me & my company
b) Yes - for me
c) Yes - for my company
d) No - I think we know enough in this space
Poll: L&D on digital insurance
Working together to accelerate the digital transformation of insurance

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Insights to Solutions Distribution Event
Working together to accelerate the digital transformation of insurance
Time: 11am – 12.40pm ET
https://www.the-digital-insurer.com/insights-to-solutions/insights-to-solutions-series-digital-distribution/

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Launch of New Dynamic InsurTech Maps
Working together to accelerate the digital transformation of insurance
https://www.the-digital-insurer.com/event/webinar-launch-of-indian-insurtech-landscapes-map/

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Feedback please!
Three ways
 At end of webinar using survey
 When you receive the recording link
 To TDI / Fintech Portugal individually

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Contact Details
TDI Academy – learning for the digital age
Hugh Terry @ TDI hugh.terry@the-digital-insurer.com
Vincent Van de Winckel @ klav7 vincent@klav7.com
João Freire de Andrade @ FinTech Portugal joaofa@portugalfintech.org
Pedro Rosa Santos @ Generali pedro.santos@tranquilidade.pt
Nuno Pinto @ Coverflex nuno@coverflex.com
Eduardo Caria @ Ageas Group Portugal eduardo.caria@ageas.pt
Sasha DeWitt @ Habit analytics sasha.dewitt@habit.io

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Thanks for your time!
(feedback please)