Webinar for September 2018 Insurance Innovation

1. Webinar: insurance innovation

2. Our Panelists
Moderator: Will Pritchett
Partner, KPMG
Host: Hugh Terry
Founder,
The Digital Insurer
Rick Huckstep
Chairman,
The Digital Insurer
Jenny Williams
Accelerate Partner, Axa XL
Scott Walchek
CEO & Founder, Trov
Yannis Korgialos
European Commercial Director,
Munich Re Digital Partners

3. Discussion Agenda
Jenny Williams
AXA XL
Insurance Innovation
Scott Walchek
Trov
Personal Experience of
Insurance innovation
Rick Huckstep
TDI
Impact of InsurTech
Strategy
Yannis Korgialos
Munich Re Digital
Partners
Partnership Approach to
Innovation
Topics for discussion
• 4 presentations
• 5 rapid fire polls and Q&A throughout– wisdom of the crowd
• 20+ minute panel discussion with your Q&A
• 75 minutes in total

4. Questions & Answers
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 his own
questions and those from the audience
Each presentation will have a Q&A and poll

5. Rick Huckstep, The Digital Insurer
Impact of InsurTech

6. Where is
the Puck
headed?INSURTECH INNOVATION
Rick Huckstep - Chairman, The Digital Insurer

7. Innovation in Insurance –
The impact of InsurTech

8. 8
InsurTech innovation –
making it easy to buy insurance
8
• Digital & Mobile
• Simple & Transparent
• Convenient
• On-demand
• Micro periods
• Automation
• Chatbots
8

9. 9
InsurTech innovation –
building relationships through engagement
9
• Lifestyle apps
• Value over Price
• Connected Tech
• Contextualized
• Personalization
• Prevention
• Loyalty/Reduced churn
9

10. InsurTech innovation –
customer-first claims operations
1010
• Self-service
• Automation
• VideoTech
• Lower handling costs
• Reduced cycle times
• Lower payouts
• Fraud prevention
• Improved customer satisfaction
10

11. 11
InsurTech innovation –
using data in new ways to understand risk
111111
• New sources of data
– Wearables
– Internet of Things
– Telematics
• Data aggregation
• Personalized
• Dynamic risk profiling
• Machine Learning/Deep
Learning
• Artificial Intelligence
• High Performance Computing

12. 12
InsurTech disruptors
Can blockchain deliver on the disintermediation promise?
12
• Trust(less)
• Disintermediation
• Provenance
• Immutable
• Smart Contracts
• Identity Management
• Asset Tracking
• Document Management
12

13. Disruption or rapid evolution?
• Digital distribution - making it easy to buy insurance
• Engagement - lifestyle products offer value over price
• Claims – putting the customer in control, lower cost of claims
• Data – new sources and new ways to handle it
• Blockchain – removing ineffeciency from insurance value-chain

14. Snap Poll
14
Q. Where do you think InsurTechs will have most impact on
insurance innovation?
1.Value chain innovation – transform
2.New Business models – Disrupt
3.Too close to call at the moment
How to participate:
Just respond to the question when it appears on your screen

15. Jenny Williams, AXA XL
Insurance Innovation

22. Snap Poll
22
Q. Which area is your company struggling most on its data and analytics
journey so far?
1.Accessing the data
2.Quantity of data available too small
3.We can’t seem to get our analytics done quickly
4.We don’t seem to create actionable insights that will provide the value
How to participate:
Just respond to the question when it appears on your screen

23. Scott Walchek, Trov
Personal Experience of Insurance Innovation

25. 25
Tr v is theō
World’s
Leading On-
Demand
Insurance
Platform
Intelligently Protecting Anything,
Anytime, Anywhere.

26. The Trov story starts with
our innovative Single Item
Cover application, which
enables people to insure
individual items with a simple
swipe on the smartphone.
Item protection can be
turned on for whatever
duration the user requires.
Covered worldwide against
accidental damage, loss,
theft, and mechanical
defect.
FIRST APPLICATION:
ON-DEMAND FOR
SINGLE ITEMS

27. ON-DEMAND INSURANCE PLATFORM
COMMERCIAL FLEET
PERSONAL CAR/MOBILITY
GIG/SMB, TRAVEL, PET+ (FUTURE)
Multi-Risk, Micro-Duration, Multi-Region,
Adapting/Learning
PRODUCTS CAPABILITIES FEATURES
• End-to-end digital
• Cloud-native,
Mobile-first
• Global compliance
• Capability APIs
• Customizable/agile pricing,
claims,
• ISO27001 security certified
• Customizable policy, pricing,
Underwriting
• Systems/Admin integration
• Custom integration
• Sensors & Telematics
• Modular implementation
SINGLE-ITEM COVER
RENTERS

28. TR V IS AN ON-Ō
DEMAND
INSURANCE
PRODUCT LINE
Single Item
Protect individual items, from cameras
to bikes, for any duration that the
customer desires. A flexible, low-
barrier entry to insurance.
Renters
Flexible insurance, built for the urban
renter. Provides liability cover, plus
personal contents at home and flexible
itemized protection while on-the-go.
Personal Mobility / auto
A new type of car insurance, that
provides the base vehicle cover people
need, plus flexible options and
incentives during periods in which they’re
not driving and traveling via other modes
of transport.
Fleet
Easily offer insurance for an on-
demand fleet-based business, from
scooters to autonomous trucks,
including multi-phase/risk pricing, real-
time analytics, claims fulfillment and
more.
Claims
Leverage the Tr v Claims Portal, whichō
provides FNOL, customer communications,
real-time analytics, claims management,
adjudication, reporting and much more.
GIG /SMB (future)
Insurance built for the gig economy.
Easily get liability coverage along with
flexible itemization and protection for
required equipment. Coverage can be set
for the duration required and adjusted
as needed.
POWERED BY
Tr v builds unique insuranceō
experiences designed for the
modern, connected consumer
and emerging mobility.
Our products are private-
labeled by global brand
leaders who offer them to
their customers, or embed
Tr v’s capabilities into theirō
applications.
Tr v’s product line spans on-ō
demand, single item
coverages, to renters,
personal auto, fleet
coverage, all-digital claims
management, and more.
Tr v’s products all leverageō
the power resident in the
world’s leading on-demand
insurance platform, and the
award-winning user
experiences for which Tr v isō
world renowned.

29. GO TO MARKET
OPTIONALITY
• Tr v’s flagship on-demandō
insurance application,
protecting individual
items for whatever
duration people need
(SIC)
• Available in AU, UK, US &
Japan (2019)
TRŌV DIRECT (D2C) TRŌV POWERED
BUSINESS EXPERIENCES (B2B)
• On-demand insurance products
and business tools built for
insurtechs, mobility, fleet
solutions and more.
• Risk analytics, multi-phase
pricing, claims management.
POWERED BY
TRŌV POWERED
CONSUMER EXPERIENCES (B2B2C)
• On-demand Insurance
experiences brought to
market by insurance
companies, banks and other
service providers using Tr v’sō
leading UI/UX or API
• White-label UI and/or APIs
for Renters, Single Item
Cover (SIC), Personal
Car/Mobility, Claims
POWERED BY

30. Snap Poll
30
Q. If you a large insurer which approach would you adopt if you have
only once choice?
1.One or two moonshots to create fully owned eco systems
2.An “insurer inside” approach to be part of as many eco-systems as
possible
3.Partner approach – looking for Joint ventures with a limited number
of eco system “movers and shakers”
How to participate:
Just respond to the question when it appears on your screen

31. Yannis Korgialos, Munich Re Digital Partners
The Partnership Approach to Innovation

32. Innovation
Insurance innovation
Munich Re Digital Partners (MRDP) | September 2018

33. Latest trends we are seeing the market
B2B2C
gathering pace
across Digital
distribution
MGAs Power of
alternative
data sources
Digital
verticals /
comparison
sites starting
to explore
Insuretech
space in
various ways
Partnership
model
gathering pace
Attention
shifting to
claims to
improve CX
and reduce
costs
1 3
4 5
2

34. Digital talent
Key questions incumbents need to start asking
Do we need new talent /
different skills in
insurance?
What are the traditional
vs. digital / disruptive
skills that we need?
How do we grow new
talent?
Do we need to change?
How to attract talent vs.
competition?
How do we keep them?

35. Digital business models / Type of Innovation
Product
innovation &
flexibility
Customer
journey /
customer
engagement
Insurance
within digital
ecosystem
New types of
data helping
make UW /
pricing
decision
making
New customer
acquisition
channels
Risk
transparency

36. Snap Poll
36
Q. Put yourself in the shoes of an existing insurance company. Which
one of these is the most important to ensure you company innovates?
1.Products that incorporate services to reduce risk
2.Build New platform / ecosystem business models
3.Build internal capability to maximise potential of value chain
innovation
4.Setup an investment fund to make the bets in emerging business
models for insurance
How to participate:
Just respond to the question when it appears on your screen

37. Our Panelists
Moderator: Will Pritchett
Partner, KPMG
Host: Hugh Terry
Founder,
The Digital Insurer
Rick Huckstep
Chairman,
The Digital Insurer
Jenny Williams
Accelerate Partner, Axa XL
Scott Walchek
CEO & Founder, Trov
Yannis Korgialos
European Commercial Director,
Munich Re Digital Partners

38. Snap Poll
38
Q. Does Strategy beat execution for good insurance innovation?
1.Yes
2.No
How to participate:
Just respond to the question when it appears on your screen

39. https:///
Announcement: LIVEFEST 2018
39
livefest2018.the-digital-insurer.com

40. Post webinar activities
Link to the recording will be emailed to registered participants
Our next webinar will be on 5th
December on the topic of Cyber
Registration is now open: Go to Events / Webinars from the home page!
Please give us your feedback
If you would like to follow up with any of the panelists
- Hugh Terry: hugh.terry@the-digital-insurer.com
- Will Pritchett: Will.Pritchett@KPMG.co.uk
- Rick Huckstep: rick.huckstep@the-digital-insurer.com
- Jenny Williams: jenny.williams@axaxl.com
- Scott Walchek: scott@trov.com
- Yannis Korgialos: YKorgialos@munichre.com