Swiss Re Ag · SIX:SREN
Swiss Re — Conference Presentation (May 2017)
29 slides from Swiss Re's conference presentation, May 3, 2017
Slide 1: InsurTech: Trends, disruptions and investing
INSURTECH Trends, disrup,ons and inves,ng Zurich – May 3rd 2017
Slide 2: 2 of the #InsurtechTop9 influencers
2 of the #InsurtechTop9 influencers Minh Q. Tran Florian Graillot @Minh_Q_Tran @FGraillot
Slide 3: What we have built for AXA in AXA Strategic Ventures
What we have built for AXA in AXA Strategic Ventures
Slide 4: AXA Strategic Ventures
AXA Strategic s Ventures €10->250->400 4 |
Slide 5: Company stage of development and industry funding rounds
COMPANY STAGE OF DEVELOPMENT SEED EARLY VENTURE GROWTH validate, build Launch Scale maturity to exit ¥ Pre-revenue ¥ Some revenue and user growth ¥ Measurable market penetration and Y Established ¥ Clear direction and target ¥ Clear product-market fit user growth ¥ Terminal growth — steady-state exp
Slide 6: Why do we search worldwide for Disruptive Technology?
Why do we search worldwide for Disruptive Technology ? @Minh_Q_Tran
Slide 7: Framework for spotting disruptive innovation
Framework for spoting disruptive innovation Macro trends Technology Business Trends Trends User Disruptive Trends innovation 7 @Minh_Q_Tran
Slide 8: iTunes: digitalization of music
Digitalization of music Digital right 1€ per management song Listen to music online iTunes @Minh_Q_Tran
Slide 9: @Minh_Q_Tran
@Minh_Q_Tran
Slide 10: What is InsurTech?
What is InsurTech ? @Minh_Q_Tran
Slide 11: InsurTech sub-industries and verticals
InsurTech = technologies InsurTech that will be the next might impact/disrupt insurance businesses FinTech Many sub-industries… … under 3 verticals + prevention scope RegTech Digital Leads FinTech Life Prevention Big Data InsurTech InsurTech Health IoT Cyber Security P&C Digital Health 11 | @Minh_Q_
Slide 12: Why Insurance has a strong potential for disruption?
Why Insurance has a strong potential for disruption ? @Minh_Q_Tran
Slide 13: Four reasons why insurance is open to disruption
Here Because are the 4this main reasons industry why is very Insurance is open to disruption attractive Insurance is a huge market worldwide… … with regulation as a barrier-to-entry… • Solvency II Life Non-life • Agents (MGA) Insurance Insurance • Broker $2.3T $1.4T • Reinsurer … where technology is
Slide 14: InsurTech has already attracted significant investments
InsurTech has already attracted significant investments @Minh_Q_Tran
Slide 15: InsurTech investments are growing
InsurTech investments InsurTech are will be the growing… next FinTech InsurTech investments are lagging 2 years behind FinTech, but growth might be faster 15 | @Minh_Q_Tran
Slide 16: Including investments from insurance companies themselves
… including investments And insurance from themselves companies insurance are companies investing in InsurTech Most active Insurance investors Insurers mainly focus on “strategic” opportunities. 16 | Source : https://www.cbinsights.com/blog/insurance-startup-investing @Minh_Q_Tran
Slide 17: Incubators are the most active investors so far
Incubators are the and Major investors mostincubators active soare far… investing in InsurTech Incubators/Accelerators are the most involved in InsurTech meaning InsurTech is still in the early days. 17 | @Minh_Q_Tran Source : http://insights.venturescanner.com/2016/01/25/number-of-investments-by-to
Slide 18: Most InsurTech startups are still in early days
… and most Most InsurTech of the startups deals were doneare stillUS in the in early days Series A/B (5%) Seed Pre-A (95%) 18 | @Minh_Q_Tran
Slide 19: How to look at the InsurTech space
How to look at the InsurTech space @Minh_Q_Tran
Slide 20: Horizontal: the whole value chain is being challenged by startups
Horizontal: all the InsurTech mapvalue (2/2) chain is being challenged by startups Out of 2.000 leads received in 1.5 year, 13% were fully InsurTech startups Product & Pricing Distribution Claim 35% 50% 15% of ASV dealflow of ASV dealflow of ASV dealflow From “one size fits all” to customized & From
Slide 21: Vertical: all business lines are targeted by InsurTech startups
Vertical: all business lines are targeted by InsurTech startups Life Insurance Health P&C 21 | @Minh_Q_Tran
Slide 22: What we think might happen in InsurTech
What we think might happen in InsurTech @Minh_Q_Tran
Slide 23: How Internet of Things could reshape insurance
How Internet s of Things (IoT) could reshape insurance • Generate data by measuring customers behavior & environment • Anticipate risks and increase What for ? number of opportunities to • Collect & mobilize more interact with customers. diversified source of relevant data • Better size risks and pr
Slide 24: How Big Data could help better do insurance
How Big s Data could help better do insurance Create personalized policies Train AI / Machine Learning technologies Claim management • Insurance companies have huge sets of data More Collect data on claim (e.g. car accident: pictures, list of engagement damages, pricing to repare, money reimbursed)
Slide 25: Full-stack digital leads in life insurance
Full-stack s digital leads in life insurance * Qualify KYC Contact Value chain Generate leads leads Subscription management ASV portfolio Startups identified 25 | * http://www.cnet.com/news/your-next-insurance-agent-will-be-a-robot/ @Minh_Q_Tran
Slide 26: Just-in-time insurance: customized and per-use products
Just-in-time s insurance: customized & per-use products Mobile broker Manage insurance policies in 1 place, then sell relevant insurance products. On-demand Just-in-time insurance insurance Sell the right insurance policy the right policy at the right at the right time. time P2P insurance Sell niche
Slide 27: GAFA could compete on personalized products
GAFAEven could compete Internet giantson arepersonalized products interested in InsurTech Level of information What kind of actor What kind of data on customers GAFA know almost everything about high their customers (position, move, activity, …) Banks know limited info based on payment habits (where
Slide 28: Direct link from startups to re-insurance companies
Directs link from startups to re-insurance companies Risk for insurance companies is to be bypassed as re-insurers might use InsurTech startups as a front end to get a direct relationship with customers. 28 | @Minh_Q_Tran
Slide 29: Coming soon: Disruptive Technology Building Innovation/Investment Platform
Coming soon: Disruptive Technology Building Innovation/Investment Platform @Minh_Q_Tran