introduction deck - intelligent insurer · tdi’s best insurtech, best fintech in the uk (twice),...

www.digitalfineprint.comIntroduction Deck 2018

Introduction Deck

High loss ratios The SME dilemma

▪ SMEs accounts for ~1/3rd of all commercial

insurance premiums and very open to direct

interaction and outreach from insurers

▪ Insurers should design targeted outreach

initiatives, and develop data capabilities to

maximize customer value and improve

underwriting

Contribution to

the economy Market size

Main dist.

channel

84% of businesses

45% of GDP$77bn

Independent

agents & brokers

~99% of private

sector companies £7bn

Independent

agents & brokers

99% of businesses

49% of GDP€9-12bn Captive agent

Scattered information

2www.digitalfineprint.comIntroduction Deck 2018

▪ Despite new technology loss ratios have not

improved over the last 20 years

▪ ~40% of commercial lines premium is used to

fund loss adjustment, commissions, brokerage

and underwriting expenses in the US

▪ Insurers collect a wealth of data, but few have

found a way to monetize it

▪ As more consumers move online the volume of

available data is increasing exponentially

▪ However, many insurers face organizational

challenges to becoming data-driven companies

… As a consequence, insurers have

lagged behind other industries in their

investment in and adoption of analytics

Sources: BCG Mining the untapped Gold in SME Commercial insurance , S&P Global Market Intelligence data and PWC analysis

The commercial lines insurance industry face three key challenges which we want to tackle

Complexity creates

high loss ratios


Data Synthesis Technology Online presence

The past decade has seen an evolution of open data availability and improved technologies

It is now possible to assemble a

clear data picture for nearly

every business

The development of ai has

allowed for a cost effective

delivery of customized on-

demand models for any industry

Customers want, to be served

online and expect excellent

service+ +

… which has created a new era enabling predictive and customised insights about prospective customers

www.digitalfineprint.com 4

We supercharge insurance sales through leveraging open data sources and AI

Introduction Deck 2018


We combine open and internal data sources to help insurers improve their distribution performance

Open data

Data from insurers and brokers is

enriched using open data sets

Internal data

Find

Identify and target new leads

Engage

Convert customers

Analyse

Maximise customer’s lifetime value

Creating a proven track record of delivering 35% more effective cross-selling and improved CAC by 40%

Pre-fill

▪ Reduces lead-to-

quote

Product

recommendation

▪ Increase conversion

and cross-selling

Renew

▪ Captures real-time

customer changes

providing insights for

up-selling

Performance

marketing

▪ Maximise return on

marketing spend

Up-sell

www.digitalfineprint.com 6Introduction Deck 2018

Marketing Website Quotation Check outSME Insurer

We help insurers find, engage and convert SME customers

DFP for SME insurers

www.digitalfineprint.comIntroduction Deck 2018 7

Open data is freely available data such as government & unstructured data, all analysed in compliance with GDPR

UK data We have language capabilities and data

source availability in…

Australia Austria Belgium

Canada China Denmark

France Germany Hong Kong

Ireland Italy Luxembourg

New Zealand Norway Russia

Taiwan Singapore Slovenia

Spain Spanish-speaking LatAm Sweden

Switzerland Ukraine United states

8

TDI’s Best InsurTech, Best

Fintech in the UK (twice), Best

General Startup in the UK

AWARD WINNING PATENT-PENDING VC-BACKED


Our technology has received industry awards, patent pending status, strong traction and significant investment


Our ambitionsClients and Partners


We have world-class clients and partners and are actively working to partner with insurers and brokers

DFP office Current footprint Insurers contacting us

▪ 35% more effective cross-selling

▪ Outperformed existing distribution channel by 10x

▪ 30% increase in lead generation

▪ 50% increase in click-through rate

KEY RESULTS


Erik Abrahamsson

CEO

Jin Chen

CTO

Alex Hammick

COO

Austin Wellbelove

CPO


The management team brings expertise from the tech, insurance and finance industries

11

▪ Our client is a top 5 UK insurer looking for

new ways to reach the right SME insurance

customer

▪ Selling the right coverage to the right

customer was a challenge, as was leveraging

internal and external data sets to drive

higher conversion rates through social

media, but they lacked the capability to

identify the right customers themselves.

▪ We built a LinkedIn Analytics Solution

which allows customers to get tailored

recommendations by connecting with their

LinkedIn account. This data was compared

against the insurer’s customer data base for

risk and marketing insights.

▪ Our combination of social data and

insurance data brought opportunities for

cross-selling and augmented underwriting

that we helped the client leverage.

▪ After an initial pilot on one book of

business, the solution is now being rolled

out across the company

▪ £5m GWP uplift

▪ 35% more effective cross selling

▪ 40% lower customer acquisition cost

driven by targeted advertising

Client challenge Our solution Key benefits


Case study #1 – SME insurance distribution and insights using LinkedIn data in the UK

12

▪ ASEAN insurer had started a direct channel

in the UK

▪ Existing marketing and insights providers

delivered unsustainable customer

acquisition cost and could not deliver social

data insights

▪ The insurer needed to find actionable

insights and reach a targeted audience in a

cost effective way

▪ We used open data to predict likely buyers

and create a holistic profile of each relevant

target audience

▪ The open data was used to enrich the

client’s own data, generating actionable

insights

▪ Insights were used to improve

segmentation, targeting, bidding and

programmatic advertising

▪ Outperformed existing providers by a

factor of 32x (according to client’s data)

▪ Superior data quality and actionable insights

▪ Our solution was ultimately picked ahead

of service providers with 10+ years of

history


Case study #2 - Marketing and underwriting insights from open data for a major SME insurer in the UK


13

▪ Our client was looking to grow their

business by exploring online channels to

sell device and laptop insurance.

▪ They saw a gap in the market to drive

higher conversion rates through social

media but lacked the capability to identify

the right customers.

▪ The client needed help identifying and

targeting the right customers who were

more likely to have new product needs

(and therefore more likely to buy the

relevant insurance).

▪ We used open data to predict likely buyers

and create a holistic profile of each relevant

target audience

▪ The open data was used to enrich the

client’s own data, generating actionable

insights

▪ Insights were used to improve

segmentation, targeting, bidding and

programmatic advertising

▪ 2x conversion rate from lead to sale

▪ 30% increase in lead generation

▪ 50% increase in click-through-rate from

digital marketing


Case study #3 – Improving distribution for an online insurance broker



Thank you for reading, get in touch if you want to schedule a demo of our technology!

Contact details:

Erik Abrahamsson

Founder & CEO

Website: www.digitalfineprint.com

Email: [email protected]

Phone: +44 (0)79 46 280 185

Metal Box Factory, 30 Great Guildford Street, London, SE1 0HS

introduction deck - intelligent insurer · tdi’s best insurtech, best fintech in the uk (twice),...

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