Redefining Risk

How to transform the insurance business through customer centricity, simplicity and context Philipp Kristian Diekhöner

Preface

As industry after industry is transforming

Our definition of insurance remains static

What is the essence of insurance?

Risk transfer to a trusted intermediary

Most trusted = most valuable

How do you stay relevant?

I Leveraging context

A trove of data is easily captured nowadays

Moving from probabilty to real-time analysis

And millions of in-time micro-assessments

Life design is the trillion dollar opportunity

II Eradicating Complexity

What is the biggest pain point in insurance?

A typical insurance innovation journey

We need to build mutual trust

Social capital is thriving

III Mastering customer-centricity

What is our unfair advantage in insurance?

Few people can design insurance products

And customers are willing to pay!

Going all-in on digital requires a rebuild

We must fix our products first!

Why people buy is more signifcant than how

We need mass custom, just-in-time products

Value leverage

High CV Low COI

Positive δ

Continuously owning customer relationships

And becoming a one-stop-shop

Conclusion

Infusing insurance into people's lives

Moving beyond industry risk aversion

Digital follows product transformation

A vision for the future

Thank you