Session 4 from Acceptiv Online Distribution Conference Sept 2017. Three years’ ago, Teachers Life moved to an exclusively digital strategy; learn from their experience, what they would do differently and why they feel they are in a much stronger position today to capitalize from early mover advantage.

1. On Line Distribution
September 2017

2. • We are a small fraternal insurer
• Based in Toronto; founded in 1939
• Provincially regulated until 2008
in Ontario
• Expanded from 1 province to full
national licencing in 2015
• 2016 Celent award – technology
transformation
• Online Platforms
• Continuous improvements launched
through 2017
• ‘White-labelled’ partners
• Growing group business

4. What we have learned….or, let’s tell the end of the
story first….
• It does not happen overnight
• Must be prepared for some detours….you are
allowed to screw up
• Must break down walls
• Size doesn’t matter
• You just don’t ‘build it and they will come’
• Marketing approach must change
• Partner with organizations you know, like and trust

5. LESSONS FROM
GIN GIN
IT’S NOT A DESTINATION
IT’S A JOURNEY

6. WE
LEARNED
A LOT
ALONG
THE WAY

7. KEEPING
COMPETITIVE
• Punching above our weight
• ADVANTAGE: our size
• DISADVANTAGE: our size
• Confront our strengths
and weaknesses

8. Growth • New relationships • Building awareness
Technology is the gateway to
Staying relevant as a business through
our pursuit of technology innovation

9. A COMPANY
WITHOUT WALLS
• CRM software – to stay
focused on our customer
• New platform partners –
to drive product innovation
• Gathering Data (must be
relevant)
Embracing the NEW in our industry

10. • AD&D portfolio grows to 165,000 in 2017
• Expanded business lines: white labelling
and middle and back office services
• 6 partners across 9 platforms
• 2017 Exploring more B2B opportunities
• Working with Tech Company to improve all of our
process
• Expansion to selling nationwide opening
up new individual markets, new partnerships
GROWTH BEYOND
OUR TRADITIONAL BORDERS

11. SMARTER BUDGETS
Must differentiate and target better

12. SMARTER BUDGETS
• Know the policyholder you want/can get
• Be clear on what makes you different/unique
• Invest in removing any additional pain points
• Invest in insights you can use

13. REMOVING BARRIERS
• WIIFM marketing –
“what’s in it for me?”
• Helping policyholders –
remove all friction
• Disrupt their complacency
• Support through self service
Help empower policyholders
to buy insurance

14. INSIGHTS WE USE:
EDUCATORS & LIFE INSURANCE
• 37% think insurance is a luxury they can’t
afford
• 60% would prefer a free iPhone
over free insurance for a year
• 29% are afraid to get a medical exam
– 9% higher than general population
• 54% are overwhelmed by the choices
– 9% more than general population

15. SOME KEY METRICS cont’d
6.1%
6.6%
9.9%
17.5%
7.6%
12.9%
11.6%
14.4% 14.4%
13.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
T10 T20 T30 T40 Aggregate
Profit Margin (On-line Term)
Actual Expected
• Within Term 10, 20 and 30 - There is a
skew to lower profit margin cells
• Distribution (T10-40)
• Average Face Value - $283,440.00
• Average Premium is $409.33

16. SOME KEY METRICS:
• Volumes are still relatively low (less
than 750 policies)
• Distribution (T10-40) – over 50% are
T20 or less
• Average age: 39.8 Female/41.0 Male
• 55% Female Policy Holders
• 45% Increase in sales (July/16 over
July/17)
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
T10 T20 T30 T40
Distribution of Business (On-line Term)
Actual Expected

17. NEXT CHAPTER
Insurance innovation for policy holders

18. NEXT CHAPTER
Leading a series of data-gathering trials for policyholders
• Digital marketing: hypertargeting
of interests on people’s geo-locations
• Investments in analytics – data collection is a
big step forward for us
• Automating more personalized communications
• Solving some service pain points

19. THE ENTERPRISE JOURNEY CONTINUES
KEEPING OUR MOMENTUM GOING BEYOND 2017
• Deeper investments
in data, technology
• New white-labelled
services
• Improved
back-office &
administration
• Implementing a CRM
for anticipated growth

20. IT’S A JOURNEY
NOT A DESTINATION
• There is no “build it and they will come”
• Stay open to the new and different – seek
trusted partners
• Investments in technology must be
supported by changes to people, processes
• Small insurers can succeed – work our
advantages
• And… be prepared to visit
Gin Gin on your journey!
IT’S A JOURNEY
NOT A DESTINATION (A Re Cap..)

21. Teachers Life in 2017

22. Q&A