Lloyd`s Technology Day - inex24 - London ▪ 2013/12/03

Lloyd`s Technology Day Seite 2 Communication, cooperation and coordination ≠ collaboration Leo Denise 1999 „Unlike communication, collaboration is not about exchanging information. It is about using information to create something new. Unlike coordination, collaboration seeks divergent insight and spontaneity, not structural harmony. And unlike cooperation, collaboration thrives on differences and requires the spark of dissent.“ 2013/12/03

The global insurance market has to meet new challenges Lloyd`s Technology Day Seite 3 Purchase via web platforms Reduction of efforts Reduction in work load More suppliers – more competition Compliance Increasing pressure from regulatory authorities and internal audit Seamless documentation and transparency Reduction in liability 2013/12/03

inex24 at a glance Lloyd`s Technology Day Seite 4 Web-based collaboration platform for the corporate insurance sector Global, direct networking between companies, direct insurers and re-insurers Overdue and contemporary tool for all market participants Benefits for all parties, e. g. process optimization, reduction in manual work load, reduction of efforts, assurance of compliance Direct insurers Intermediaries Re-insurers Capital market Companies 2013/12/03

inex24 is a tool for all market participants Lloyd`s Technology Day Seite 5 Key competencies Provision of a web platform Technical support Coordination of translation projects Companies Intermediaries Re-insurers Direct insurers Capital market 2013/12/03

inex24 is a multi-level trading platform Lloyd`s Technology Day Seite Companies use inex24 to place their risks with direct insurers Direct insurers could cede insurance policies into the re-insurance market Via inex24, direct insurers and re-insurers place risks on the capital market Companies Re-insurers Capital market Direct insurers 1 Intermediaries 2013/12/03

Why inex24…the market view… Lloyd`s Technology Day Seite 7  Could we afford to neglect breath-taking IT-developments?  IT follows strategy or could IT impact on generic strategy designs conversely?  Traditional ways of dealing consume too many manual resources and create inefficient redundancies on all sides of the market participants.  Efficient ways to reach out to global markets.  Process standardization does not mean to standardize individual insurance products.  Increasing demanding re compliance rules, transparency standards, speed of proccessing.  Create new distribution channels. 2013/12/03

inex24 features a modular structure Lloyd`s Technology Day Seite 8 Transaction-related communication and documentation Info database risk carriers & intermediaries Info database policyholders Reporting Manager Evaluation matrix Wording / Topics Manager Portfolio Designer Risk data (structured and via documents in data room) Real-time Trading Desk Layer Manager 2013/12/03

Three options to use inex24 Lloyd`s Technology Day Seite 9 Commercial and corporate business Submissions governed by public law Highly individual and taylor made complex corporate business 2013/12/03

Simple process flow on inex24 Lloyd`s Technology Day Seite 10 Provision of basic fact sheet  Individual process steps could be skipped.  Brokers are free to create their submission standard.  All quotation will be shown in form of a synopsis. Submission template 2 1 Risk related documents Invitation of insurers Negotiation /12/03

inex24 generates substantial benefits for all market participants… Lloyd`s Technology Day Seite 11 Seamless and resilient logging of all events Neutral and audit-proof processing platform for all participants Immediately noticeable simplification of processes and reduction in work burden Significant reductions of efforts and costs in all areas No in-house IT development and support requirements („software as a service“ solution) Compliance safeguarded in an integrated manner Use of state-of-the-art technology without changing customary and proven processes Direct access to all market participants around the globe 2013/12/03

... and benefits for every market participant in particular Lloyd`s Technology Day Seite 12 Companies Solution for fulfilling the increasing requirements by regulatory authorities and internal audit Seamless documentation and transparency Reduction of the liability risk Risk carriers Immediately applicable, resource-saving distribution channel for expanding or developing new markets all around the world Optimization of distribution control and controlling Intermediaries Significant productivity increase in all areas Structured management of placement strategy and processes per risk carrier Clear differentiation from competitors regarding customer loyalty or acquisition of new customers 2013/12/03

inex24 development partners Lloyd`s Technology Day Seite 13 Policyholders Intermediaries IT Development Risk carriers 2013/12/03

The evolution of inex24 Lloyd`s Technology Day Seite 14 March 2010 to present Release Release Release Proof of market 2013 Establishment 2010 Development 2011 Proof of concept professional development together with our pilot project partners - more than users - about 700 quotations Release versions: - inex24 - inex24.pro - inex24.OR activation of the platform start of programming (with agile software development / scrum method) - more than users - about 100 quotations 2013/12/03

Development into an attractive marketplace Lloyd`s Technology Day Seite 15 approx. 70 tender estimated volume: 100 Mio € more than 60 insurer approx user more than 600 tender over quotations over 100 trainings on-the-spot support advancement of inex24.pro inex24 in Austria implementation of inex24 & inex24.OR rollout in Austria pilot customer: ÖBB 3 successful releases 2013/12/03

Lessons learnt… Lloyd`s Technology Day Seite 16  The strategic affirmation of inex and the operational execution are two sides of the same coin.  Discipline in handling the system is key….while communication is the implicit structured chaos a collaboration platform is marked by a predetermined process flow.  Leaving the comfort zone….a huge investment in trainings and time.  Usability should always overrule IT driven functionalities…even if it´s hard to compromise…  Revolutionary changes require evolutionary steps. 2013/12/03

Lloyd`s Technology Day Seite 17 Outlook into the near future… inex24 as enabler for E2E processing Seamless process flow between inex24 and client´s IT systems ACORD Standard Creation of one e-file containing the complete tender documentation Collaboration of international insurance markets Improve market shares in D-A-CH region and UK Starting Business Consulting for corporate insurers International markets End-2-end process E-file Business Consulting 2013/12/03

Strategy of inex24 Lloyd`s Technology Day Seite 18 Permanent establishment of inex24 in the insurance market 1 Positioning of inex24 within msg systems as a leading IT consulting company in the industrial insurance market 2 Development of E2E capabilities in the industrial insurance market? /12/03

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