The InsurTech landscape Dan Roberts Managing Director The Marketing Eye

Why am I talking to you today? Dan Roberts, MD Head of Performance Marketing at MORE TH>N Managed web journey optimisation at Hastings Direct Michael Gaughan, Director of Strategic Partnerships Seasoned marketing and insurance expert Neil Edwards, CEO 10 years running the UK’s leading FinTech marketing agency

Today’s objective is to guide you in five areas: InsurTech – what is it? Who are the key players? What does it mean for you? Threats and opportunities What’s next?

Insurtech – what is it?

The themes are varied, predominantly front end Disruption – ‘insurance is broken’ Collaboration & partnerships (Swiss/Munich Re investment) Customer focused vs strategic Social platforms Seamless customer experience The sharing economy Short term cover Automating cover levels Following in the footsteps of FinTech (Zopa, Funding Circle)

InsurTechs face challenges themselves Making themselves relevant to the insurance market Breaking in to the market Gaining and sustaining market share Long term profitability Short term cashflow challenges Establishing trust with the market and customers Recognised only for efficiency in specific parts of the journey

The key players

A snapshot of some of the bigger names

What does it mean for you?

The potential impacts are obvious but important You may start to lose customers Inability to win new customers Having the time to understand what it means for you Grappling with the terminology and language Customers demanding seamless user experience Falling demand in personal approach

threats and opportunities

Identifying your opportunities Using the social approach – reflect your customer Embracing technology if you haven’t already Understanding the customer journey from start to finish Innovative ways to find and retain clients Make your own model more efficient Can you win new customers by using InsurTech? How/should you engage with the sector?

Threats Increased automation of cover levels Not using social data Lack of an optimised website Less need for personal contact Lack of integrated approach to communicating with clients Being comfortable with the terminology and language

How can you act like an InsurTech? Culture of innovation. Don’t be afraid to fail Create and sustain a sales funnel with social content Ongoing relevant engagement with prospects The vital importance of a mobile-optimised website 46% of customers now research insurance on mobile Nurturing your prospects down through the sales funnel Regular engagement with customers post-sale

What’s next?

How can you use this information? You’re all experts in your sector Is your management team talking about InsurTech? Do you have an R&D team focused on the sector? Are they aware of the opportunities and threats? - We have the knowledge and contacts - We can present and discuss this with your teams - Sign up to our weekly ‘In the news’ email

Questions for the floor Who will be the winners (e.g. a UK Lemonade)? To what degree do people see any relevance? Will InsurTechs need to collaborate or compete? What sort of 3rd party tech do you use yourselves? What sort of questions are your customers asking?

Thank you