Startup InsurTech Award - 360F (Singapore) Pte Ltd

1. 360F advances Wealth Advisory
SUBMISSION FOR INSURTECH START-UP AWARD (NOMINATION)

2. o B2C robo-advisors struggle with market penetration
o Intermediated advisory compensates high distribution
expenses with commissions, breeding distrust (1).
However, wealth advisory is critical!
People who use advisory have retirement plan savings
almost 50% higher than those without (2).
(1) BlackRock’s Global Investor Pulse 5th Edition, 2017
(2) The Future of Retirement, HSBC Singapore Report, 2013
THE MARKET PROBLEM
Customer acquisition
is a major value leak

3. o Smartphone usage is universal –
toddlers, teens, adults and the elderly
are on it
o 98% parents and 91% children use
their mobile phones whenever
together (1).
The Family Bond is under threat.
(1) McDonald’s survey of 302 parents, as reported on Business Insider, Singapore
THE SOCIAL PROBLEM
Smartphone
invades the Family

4. o A family mobile app to collate or pool members’
financial goals, contributions and plans. It resolves
financial trade-off dilemmas “under one roof”
o Lead generation is an inherent feature – the family is
a natural society unit to leverage the network
effect, bringing down distribution expenses
o App supports financial education – interface
design for child access integrates Pedagogy
research
o App also features family interaction functions
to induce the bonding effect
o A strategically designed rewards and content
reinforces the network and bonding effect
THE 360F SOLUTION
Multi-Generation Investment
Genie to bond a Family
Jon
(Son)
Jane
(Mom)
Jenny
(Daughter)
Jack
(Grandpa)

5. WEALTH ADVISORY SUPPORT
Goal Explorer
Designed to be configurable by the
advisers and marketers for flexibility
and transparency
Helps envision the future tangibly
and encourages positive emotions
Data points to relieve
the cognitive effort that otherwise
creates
individual inertia
Long-term planning tends to be daunting as the
future is difficult to imagine.
“How would I know what to plan for Jon when
the future is so faraway ?”
Jane (Mom)

6. WEALTH ADVISORY SUPPORT
Risk Sensibility
Calibrates itself to fit clients’
financial context and uncover their
blind spots
A gamified and sophisticated score-
based evaluation method for easy
deployment
Based on an amalgamated
methodology incorporating the
utility function (prospect theory),
experience sampling and
socioeconomics to measure the risk
awareness, preferences and ability
“A good doctor will never ask me if my glass is
half full or half empty. He has reliable and
suitable equipment to measure my vitals. I
would expect the same for my wealth advisory.
Measure how much risk I can afford and service
me according to my readings.”
Risk Sensibility by 360F is backed by Nobel-Prize
winning research (Prospect Theory)
Jane (Mom)

7. WEALTH ADVISORY SUPPORT
Trade-Off Optimizer
A utility function that incorporates a
logical (sense) baseline built on factual
objectives & constraints and emotional
(sensibility) dimension - thus the client is
confident in the final decision
An algorithmic engine to help resolve
the financial dilemmas between
competing goals by optimizing money
allocation
The intrinsic (emotionally felt)
needs measured with psychometric
tools that are tested extensively in
internationally acclaimed empirical
studies
“Should I save for Jon’s education
first or for my retirement first?”
Help clients maximize their likelihood of financial success
by aligning their intrinsic needs with their money behavior
over the long term.
Jane (Mom)

8. WEALTH ADVISORY SUPPORT
Clairvoyance
Guides forward thinking with visual
simulations of random unfortunate events
An educational module by itself, clients
“sample experience” market volatility
and biometric risks. Seeing for self
beats being told by others.
Highly configurable, the module is
especially suited for a self-directed
exploration to uncover both wealth
protection and growth needs
“I understand that insurance is important. Still,
even if bad luck happens, my family can still
cope, right?”
The human being’s optimism bias often leads to
underestimated future risk.
Jane (Mom)

9. WEALTH ADVISORY SUPPORT
Unified Portfolio Creator
Highly configurable by the available
product universe and
the corresponding cashflows
Automates the build of a holistic and
truly personalized wealth portfolio, and
supports suitability in recommendations
Personalization inputs include existing
and expected cashflows, financial
constraints, risk-return expectations and
even attitude towards inheritance and
subjective health assessment“Can you suggest an insurance and investment
portfolio that maximizes the value of every of my
dollar?”
Asset allocation and life insurance decisions are integrated,
with human capital as the central factor, to maximize the
individual’s overall utility
Jane (Mom)

10. VALUE-ADD FEATURES
Reinforced Motivations
An encompassing rewards system to raise
and reinforce
 Awareness of own finances
and recommendation system-pushed
market news
 Love expressions and commitment to
family
and financial goals
 Individual and group activities to keep up
the network momentum
 Exchange activity points for tangible
rewards – and reinforce the network
momentum through activities to gain
more points

11. VALUE-ADD FEATURES
Network Effect
The primary app feature to
convert, retain and refer users
 Contribution towards a goal is opened to
an invited sponsor network
 Sponsors are encouraged by
the visibility of how their contributions
have fared
over time
 Kid-friendly access promotes the
child’s enthusiasm to
play-interact-learn, in turn encouraging
parents and sponsors to be active on the
app
 App is extendable to other natural
group units such as friends and
employees

12. Advancing
WealthAdvisory
inAsia
We utilize behavioral and marketing
science to deliver the mission critical
in wealth advisory.
Our bigger purpose is to make
financial conversations become an
integral part of lifestyle.
MICHAEL GERBER, CEO
Formerly Managing Partner & CEO of a global
management consulting firm
Focused on Wealth Management and Life Insurance,
Michael has led over 100 projects in 20 years
Master Degrees in Science, Philosophy (Physics) and
Insurance Management
360F Management Team
CLARIE KWA, DIRECTOR
Formerly Head of Insurance for Asia in a management
consulting firm
Focused over 10 years on front-line advisory & back-end
support, and strategy consulting for distribution
Bachelor Degree in Psychology (Hons), MBA & M.A. in
Strategy & International Management
CONTACT US
53B Tras Street, #03-01
Singapore 078892
www.360f.com
An established authority in
the field of behavioral finance research and solutions.
BhFS is a spin-off company of the Universities of St.
Gallen and Zurich since 2007.
360F Research Partners
A premier university in Asia, and internationally recognized.
The partnership between 360F and SMU leverages SMU’s
world-class research capabilities, specifically in marketing
analytics.