Future Changes in the Insurance Marketplace: Implications for the Insurance Business Observations by Experts Innovation & Disruption What is driving changes in the Insurance Industry Why is the insurance industry vulnerable to disruption?

What Will Insurance Companies & the Industry Look Like in the Future Management Employees Technology New/Different Business Models Different Distribution Systems

Traditional Insurers

InsureTech Funding

InsurTech Spending $8.5B in spending & 599 deals from 2014-2018 Investment doubled from 2017 ($1.6B) to 2018 ($3.2B)

InsurTech Investor Universe Willis Re Q1 2018 InsurTech Investor Universe

InsurTech Investor Universe (con’t) Willis Re Q1 2018 InsurTech Investor Universe (con’t)

How Big Tech Flirted with Insurance in 2018 (Insurance Journal, 1/2/19)

80 InsurTech Firms Shaking up the Trillion-Dollar Insurance Industry --Medici Team (March 9, 2016)

Digital Insurance Platform Controls for conflicts of Interest Various Business Models Digital Insurance Platform (the future of the industry) Sensors to Determine exposure/loss Charities Parametric Triggers Qualifying Risk Groups Ownership Insurers Insurers Customers Insurers Customers Customers Insurers Insurers Insurers Customers Customers Insurers Customers Customers Insurers Insurers Customers Insurers Customers Insurers Insurers Customers Blockchain AI Computer Learning Big Data Technology

THIS IS THE PROBLEM Digital Insurance Platform Controls for conflicts of Interest Various Business Models Digital Insurance Platform (the future of the industry) THIS IS THE PROBLEM Sensors to Determine exposure/loss Charities Parametric Triggers Qualifying Risk Groups Ownership Insurers Insurers Customers Insurers Customers Customers Insurers Insurers Insurers Customers Customers Insurers Customers Customers Insurers Insurers Customers Insurers Customers Insurers Insurers Customers Blockchain AI Computer Learning Big Data Technology

The Elephant in the Room

The Public has a strong negative perception of the insurance industry. The Urban Dictionary defines insurance as: A business that involves selling people promises to pay later that are never fulfilled.