Disruptive technology to Home Insurance

Disruptive

technology

The changing tide

How I Learned to StopWorrying and Lovethe age of digital

Lets startwith a story

On average coffeesfrom vice are

€3-€4.50

Customers arededicated to anaspirational idea

This feelsvery real

This is a disruptivebusiness modelif Starbucks is

playing catch up

Pre Credit Crunch

During the Credit Crunch

Post Credit Crunch

Flo targets Millennials, shes safe, simple and easy to understand. Why?

The Great Recession didn't just postpone financial independence for millions of young Americans. It also changed our attitudes about what it means to be an adult.

http://www.theatlantic.com/business/archive/2012/02/adulthood-delayed-what-has-the-recession-done-to-millennials/252913/

In August 2010, Robin Marantz Henig observed in New York Times Magazine that Generation Y (the Millennials) has pushed back each of the five milestones of adulthood: completing school, leaving home, becoming financially independent, marrying, and having a kid. Why won't Millennials grow up? she wondered.

The biggest reason is they can't, according to the Pew Research Center's fantastic new survey "Young, Underemployed, and Optimistic." It begins with school.

The good news is that more young adults are enrolled in school than ever. The share of 18- to 24-year-olds enrolled has increased by 50% since 1990. That's awesome. Less awesome is that the cost of college is rising, too. Average debt for public college

students doubled between 1996 and 2006. It's less advisable to invest in marriage with $30,000 in student debt as a couple. "More than one-in-five young adults ages 18 to 34 (22%) say they have postponed having a baby because of the bad economy," Pew reported. "Roughly the same proportion say they have postponed getting married."

http://www.aascu.org/policy_matters/v3_8/default.htm

If school years delayed financial independence, the Great Recession just about shattered it. Due to economic conditions, 24% of young adults have moved back in with their parents for a significant period of time. "Among those ages 25 to 29, the share moving back home rises to 34%," Pew reports. One in three!

Before gender began to influenced how we played

People are defining themselves by brands

We need to diverge to survive as more enter the

market

Then there's the drooping middle class. The Federal Reserve Board's latest analysis of family finances showed that from 1998 to 2001, American incomes were up across the board. But when economists divided the population into five equal segments, a well curve emerged.

"Incomes grew at different rates in different parts of the income distribution," the Fed reported, "with faster growth at the top and bottom ranges than in the middle."

For example, a younger policy holder islikely to renew an automobile insurance policy

at regulatory minimum coverages to keep his or her cost low.

However, as the same individualgrows older and becomes more value

and time conscious, he or she will considerriders for roadside assistance and vehicle

repair.

The breakdowns for these market segments can be complex when considering the dimensions of vehicle type, geographic location, income, household makeup and

many other factors.

As insurance operations grew over the years and more and more lines of business (LOBs) were introduced, the business side within insurance companies developed a product centric view of the industry. At the same time, information systems grew in capability and became an indispensable component of the business. When systems areas were created and funded, they necessarily formed around the existing LOBs, and thus today’s silo approach to IT was born. Only gradually are the terms “one face to the customer” and “single view of the customer” gaining a hold in insurance thinking.

While insurers were maintaining their product centricity, consumers changed in other ways. Consumers were more or less a uniform group 20 years ago, with price sensitivity versus service

orientation lying on a Gaussian curve.

Today this bell curve has completely flipped, leaving a market with significant populations of consumers at both ends of the commodity pricing versus premium quality spectrum. As a result,

the classic mass market is diminished although still pursued

On one side, hunting for the cheapest offer has become a popular sport, rendering other product parameters irrelevant. On the other side, consumers are still willing to

pay a premium for convenience and service.

On the other side, consumers are still willing to pay a premium for convenience and service.

Brace yourself Fintech is coming!

http://www.slideshare.net/ourcrowd/20140729-fin-tech-webinar-zack-miller?qid=9ddff0cd-111f-4e70-9e9c-c2649b5c0adc&v=qf1&b=&from_search=3

Why cant it reward an insurance claim

In the most basic form, what's stopping our customersFrom crowdsourcing a global pot and reward

Each other due to a great video?

Kickstarter rewards an idea

Why cant it reward an insurance claim

Kickstarter rewards an idea

#Ftinsurance

#Insuretech

Tech Entrepreneurs are like Vikings

The will go from village to village burning down industry standards if there isGold to be had

Vehicle insurance is more attractive as it’s a need not a want. Depending on how Apple positions the space they may allow startups to enter the market through Apps

It’s a space that insurance needs to quickly innovate

Only barrier is legislation

Vehicle insurance will be hit first as it’s a need not a want

It’s a space that insurance needs to quickly innovate

Only barrier is legislation

Home insurance already has innovation with the nest.

Home insurance is a nice point of entry as anyone with intelligent devicesAre early adaptors.

But more important

It may come from somewhere we lest expect!

Gadget insurance is going to become more and more important in the future.

It can be the tool for early adoption, education and to begin the first step intomoving Axa into the internet of things.

Bit like the €5 top ups that converted early mobile phone users

Questions we need to askourselves

Are we on a hamster wheel andNeed to get off?

Do we need to nerd up?

Its winter coming to insurance as we know it!

Are we in Pugging Trouble!

Artificial intelligence,the Internet of things and

Other stuff from the Matrix!

Artificial intelligence

Zuckerberg reveals Facebook's AI

Zuck says Facebook's in the midst of building AI systems "that are better than humans at our primary senses." They're designing one to be able to detect everything in an image or video: people, objects, animals, backgrounds and locations, among others.

If it can understand what's in an image or video, it could, for instance, tell a blind person what it's about. The other system they're working on focuses on language, so that it'll be able to translate speech to text and text from one language to another, as well as answer questions in conversational lingo.

Of course, these AI systems' most obvious application is being able to surface more relevant News Feed entries for users and giving everyone a new way to consume posts on the site.engaget

Artificial intelligence

Snips Grabs $6.3 Million To Add An Artificial Intelligence Layer To Your Phone

French startup Snips just raised $6.3 million (€5.6 million) in a seed round led by The Hive, with participation from Eniac Ventures, 500 startups, Brent Hoberman, Xavier Niel and Bpifrance. The company wants to add some sort of artificial intelligence layer on top of your smartphone so that you can use your phone more efficiently.

In pragmatical terms, Snips will release in the near future a new Android home screen as well as an iPhone app so that it can show you relevant information and apps when and where you need them. In many ways, this pitch is very reminiscent of smart Android home screen startups, such as EverythingMe. The iOS app might just be an intelligent app launcher.

http://techcrunch.com/2015/06/26/snips-grabs-6-3-million-to-add-an-artificial-intelligence-layer-to-your-phone/#.lfbegm:avYL

Snips has been around for a while, focusing on smart data analysis with a lot of data scientists and PhDs working for the company. The team didn’t have a product or business model in mind. It experimented for a while, launching projects around smart cities, such as Tranquilien, a service that predicts how busy your train is going to be, or a smart empty parking spot prediction service.

http://techcrunch.com/2015/06/26/snips-grabs-6-3-million-to-add-an-artificial-intelligence-layer-to-your-phone/#.lfbegm:avYL

What the flip does A.I. have to do with Insurance?(“It was better when he was using pugs as examples!”)

Dungeons and Dragons, Insurance and Artificial

intelligence

Dungeons and Dragons, Insurance and Artificial

intelligence

Stick with me!!!!!

Players / Customers

Players / Customers

In D&D players create a character sheet. Its where the player is able to input information

about the character they are playing. It helps to define who the person is. Just like insurance

forms. ( it all boils down to numbers in the end )

Dungeon Master / Insurance Company

Dungeon Master / Insurance Company

A Dungeon master controls the game. He has rule books for every event he can think of,

within reason. He says whats with the rules of the game and not. He can reward the players

ability

The little castle is not for show, its called a DM screen. He can hide behind that to tweak the game for each

event. We need to keep the game flowing and to cover his human errors, bad dice rolls. Much like our call

center he may not always have the right info in front of him so he need to hide.

By 2005 his job can be done by an AI.

The AI will be able to react faster, give better feedback, call up information faster.

The Director, sometimes referred to as the AI Director, or simply as AID is the artificial intelligence of Left 4 Dead that features a dynamic system for game dramatics, pacing, and difficulty.

Instead of set spawn points for enemies, the Director places enemies in varying positions and numbers based upon each player's current situation, status, skill, and location, creating a new experience for

each play-through. The Director also creates mood and tension with emotional cues such as visual effects, dynamic music and character communication. Moreover, the Director is responsible for spawning additional health, ammo, weapons, and Special Infected, like the

Witch or the Tank.

It should be noted that there is another Director in the game, which controls the music on a per-player scale, called the Music Director.

This article will only deal with the main one, the Director in charge of spawning enemies and items.

The Director

On the most basic term, Insurance will move to an AI in

the next 15-25 years.

Being able to track all your information through devices,

calculate problems before they happen thus reducing the need

for our Dungeon Master/ Insurance Company we know

today.

Thanks to google maps my car will slow down for me. This if I am driving my car.

Black spots will generate from all the data returning from each car accident. ( If self

driving cars crash?)

Insurance today Insurance 2025

£1000£600£400£100

£300

Feedback loop

£50

Feedback loop

Smart devices

Home owners

Vehicleowners

Business

owners

You don’t need

insurance ever again

just a membership to the service.

Saves you time,

money and worry

Google

Apple

Nest

Other smart tech

platforms

Early waring AI system

Payment for membership. Cost of developing the system

Our intelligence system removes worry

Dev team

Who is going to dominate this space

Apple was working on a project that would "give Tesla a run for its money

Financial Times and other media sources speculated that Apple was perhaps developing an advanced software platform to build upon what it introduced with CarPlay because a full-on car project sounded unbelievable, but just hours later, The Wall Street Journal launched a figurative bomb. Apple is indeed working on creating an electric vehicle, said the site, a project that it started exploring last year.

The trend of macro and micro data means thatwe will have google and Apple as a platform

And a competitor.

We can out-preform them by educating the customerAbout our products now to be ready for a fighting chance.

Funding:

Received Undisclosed in 2 Rounds from 3 Investors Most Recent Funding Series A on October 7,

2014 / Undisclosed Amount

Headquarters:

Zürich, Zurich

Description:

Knip is a curated insurance platform that aggregates all your insurances and other financial products

Knip is a Swiss Curated Finance platform that takes away the pain of

managing your financial life. It manages all your insurances and

other financial products like pension plans for you online and on your

mobile. Furthermore Knip provides you with a bi-annual review of your finances to always provide you with

the best tariffs and products. Insurance hassle - never again.

Overview

Free yourself from the insurance mess! The Knip app takes over the complete management of your insurance! You have to give us a few key figures. We will finally provide the necessary overview of your insurance, tariffs and services.

Interaction

We are there when you need it! Reporting a damage directly from the app and change addresses, rates and information on the fly. Freedom is a great feeling.

Instech is currentlyNot a word but it will

be.

For AXA to be readyWe need a Instech

Lab to be readyFor the war

Disruptive technology to Home Insurance

Design

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