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Insurtech in the insurance value chain of today and tomorrow

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Presentation on theme: "Insurtech in the insurance value chain of today and tomorrow"— Presentation transcript:

1 Insurtech in the insurance value chain of today and tomorrow
Lex Tan CEO & Founder MotionsCloud So now they fixed that you will have a 15 minutes speach. They would be happy if you spoke about examples from German (or Us ) markets of recent steps for digitalization as on telematic, data management, claims reporting and handling, blockchain, p2p and about what experience you or the German/US market has in cooperation with insuretechs. 

2 Lex – CEO of MotionsCloud
Insurances experiences: 5 years experiences as a claims representative in the P&C insurance industry Top 50 insurtech influencer IT experiences: Front-end software development Worked in Agilent technologies Worked in Fraunhofer Institute Entrepreneurial experiences: Founded 4 ventures in the past 1st 3 of them failed miserably Last one was a successful business till today

3 Claims automation engine for insurance companies

4 Damage and Claim notification
1 Call center Self-service for customer 2 AI pre-assessment with image recognition tech 3 Cash/repair settlement for customer 6 5 Automated Payment Automated categorization and Repair Pricing for claim manager 4 NO APP NEED TO BE INSTALL Live video inspection for claims manager & customer 5

5 We are backed by US investor & Insurtech Accelerators
Some of our Clients Leading Eastern European P&C Insurer Chicago based biggest P&C insurer (US)

6 Insurtech in the insurance value chain of today and tomorrow
So now they fixed that you will have a 15 minutes speach. They would be happy if you spoke about examples from German (or Us ) markets of recent steps for digitalization as on telematic, data management, claims reporting and handling, blockchain, p2p and about what experience you or the German/US market has in cooperation with insuretechs. 

7 Why Insurtech exist?

8 Private & Confidential

9

10 Changes in customer behavior and expectation
Omnichannel service 80% - immediate responses influence loyalty Customer feel more empower and expect you to be “listeing”

11 In-efficient & costly operation
business complexity, operating model, IT landscape, and performance management

12 Example of insurtech companies in the market across insurance value chain…

13 Insurance value chain Full-stack insurtech insurer Product design
Insurtech company that operate as a full insurance company Product design Focusing on product specs, rate calculation, market launch Pricing & underwriting Risk analysis, risk selection, reinsurance Distribution Marketing, sales, distribution, channel management Admin & claims management Customer service, claims management Insurance value chain

14 Full stack insurtech insurers

15 Full stack insurtech insurers backed by re-insurers

16 Insurance value chain Full-stack insurtech insurer Product design
Insurtech company that operate as a full insurance company Product design Focusing on product specs, rate calculation, market launch Pricing & underwriting Risk analysis, risk selection, reinsurance Distribution Marketing, sales, distribution, channel management Admin & claims management Customer service, claims management Insurance value chain

17 Insurtech: Product Development

18 Insurance value chain Full-stack insurtech insurer Product design
Insurtech company that operate as a full insurance company Product design Focusing on product specs, rate calculation, market launch Pricing & underwriting Risk analysis, risk selection, reinsurance Distribution Marketing, sales, distribution, channel management Admin & claims management Customer service, claims management Insurance value chain

19 Insurtech: Pricing & underwriting

20 Insurance value chain Full-stack insurtech insurer Product design
Insurtech company that operate as a full insurance company Product design Focusing on product specs, rate calculation, market launch Pricing & underwriting Risk analysis, risk selection, reinsurance Distribution Marketing, sales, distribution, channel management Admin & claims management Customer service, claims management Insurance value chain

21 Insurtech: Distribution

22 Insurance value chain Full-stack insurtech insurer Product design
Insurtech company that operate as a full insurance company Product design Focusing on product specs, rate calculation, market launch Pricing & underwriting Risk analysis, risk selection, reinsurance Distribution Marketing, sales, distribution, channel management claims management Customer service, claims management Insurance value chain

23 Insurtech: claims management

24 The future of insurance
Source: Everest Group 2017

25 How traditional insurers prepare for the future?

26 Do it yourself or collaborate with insurtech companies?

27 Insurers-insurtech collaborations

28 Commodity and competition
Speed to market Commodity and competition Learn fast, adapt fast

29 Source: TECHTODAY

30 New business model Private & Confidential

31 Your competitors are searching for them
Private & Confidential

32 Insurers are increasingly participate in insurtech investment
Private & Confidential

33 Insurers are increasingly participate in insurtech investment
Private & Confidential

34 Let’s work together to reshape the future of insurance!
Lex Tan CEO & Founder MotionsCloud So now they fixed that you will have a 15 minutes speach. They would be happy if you spoke about examples from German (or Us ) markets of recent steps for digitalization as on telematic, data management, claims reporting and handling, blockchain, p2p and about what experience you or the German/US market has in cooperation with insuretechs. 

35 Customer centricity focus & think out of the box


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