iCover Pitch Deck Insure Pitch Deck.pdf · iCover Pitch Deck Author: Nicole Mwesigwa Created Date:...
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HARI SRINIVASAN [email protected] 314.255.3861 iCover DIGITAL INSURANCE SERVICE REAL SIMPLE INSURANCE NICOLE MWESIGWA [email protected] 314.570.4366
Transcript of iCover Pitch Deck Insure Pitch Deck.pdf · iCover Pitch Deck Author: Nicole Mwesigwa Created Date:...
HARI [email protected]
314.255.3861
iCoverDIGITAL INSURANCE SERVICE
R E A L S I M P L E I N S U R A N C E
NICOLE [email protected]
314.570.4366
HARI SRINIVASAN (FOUNDER & CEO)
Serial entrepreneur and leader of multiple startups.
SpaceKidz Advisor. 15+ years leading innovation
teams, 10 years InsureTech with RGA, led automated
underwriting solutions around the globe for brands
like MetLife, AXA and Sunlife.
NICOLE MWESIGWA (CO-FOUNDER & COO)
Multi-talented personality blending tech and business
acumen. Finance and Econ education. 20 years in
InsureTech. Leader in Insurance digitization, designed
accelerated underwriting and predictive model
services for RGA. Visionary for iCover.
ZAYDA MARRIE (ADVISOR)
Visionary leader for two of the most recognized andrespected brands, MetLife and AIG. Zayda deliversinnovation, distribution channel efficiency, market
expansion and profitable growth through marketing
excellence and strategic collaboration.
DAVID GRITZ (ADVISOR)
Energetic, driven entrepreneur helping organizations
create products and transform capital assets into a
future they never imagined. Director of Innovation
Programs at SVIA, the industry’s 1st open InsureTech
Innovation Lab.
SUMIT RAMANI (CHIEF ACTUARY)
FIA, FIAI, BTech (ICT) accredited. Life actuary,
computer science engineer with 10+ years in
(re)insurance with a focus on modelling of life and
health products, peer review and business analysis.
VIJAY NARAYAN (PRINCIPAL ENGINEER)
T H E T E A M
Full stack engineer with expertise developing
blockchain-based private networks.
P R O B L E M
▪ Millennials aren’t purchasing life insurance.
▪ Agents are begging for better programs and products.
▪ Insurers are struggling to modernize the supply chain & reduce costs.
S O L U T I O N
▪ A digital service that underwrites, issues & administers life insurance.
▪ Use Event-driven marketing and Social Media to feed the funnel.
▪ Make buying life insurance easy, without compromising risk.
WE HELP BROKERS & INSURERS SELL INSURANCE
54% OVERALL
PENETRATION
$16T COVERAGE
GAP
$1T POTENTIAL REVENUE
$558 B ANNUAL
PREMIUM
iCOVER DIFFERENTIATORS
ETHOS
iCover
Ris
k A
sse
ssm
en
t
Power Industry Transformation
iCover ’s Advantage Over Ethos
D E C I S I O N F R A M E W O R K
Patterned and predictive analytics produce betterunderwriting results and higher acceptance rates, key toconverting consumers into policyholders. Significant costsavings compared to traditional rules engines.
E C O S Y S T E M F O R T H E F U T U R E
Blockchain-based ecosystem supports current needsAND has the power to encapsulate data, transform risksharing, enable trading of insurance linked securities andincentivize participants through tokenization.
Ethos – Started in 2017 and secured $100M in funding
All the features that our competitors have (Ladder, Bestow, Haven Life and Ethos)
INCREASE SALES & REDUCE DELIVERY COSTS BY 50%
INCREASE SALES
▪ Channel / event-driven distribution
▪ Consumer loyalty programs
▪ Incentivized Brand influencers
COST SAVINGS
▪ Blockchain efficiency
▪ Proprietary underwriting framework
▪ Fast client onboarding
VALUE PROP
external data + analytics determine score & price
IDENTITY & CONSENTS
8 MEDICAL QUESTIONS
SELECT TERM AND PRICE
ELECTRONIC PAYMENT
INSTANTLY COVERED
Real Simple 3-Minute Journey Increases Conversion
OUR SERVICE
+ on demand coverage for existing
customers
OUR COMPETITIVE ADVANTAGE
RISK SCORING
Better underwriting
DISTRIBUTION
feeds the funnel
REWARDS
fuels loyalty
USER XPERIENCE
increases conversion
Faster Journey | Lower Drop-outs | More Auto-accepts
AGENT FOCUS GROUP FEEDBACK
I ’M SOLD… WHEN WILL THIS BE
AVAILABLE
I DO FINAL EXPENSE AND THIS IS PERFECT FOR MY BUSINESS
THIS SOLVES MOST OF MY PROBLEMS
WITH INSURERS
THIS IS WHAT I’VE BEEN ASKING FOR!
I WANT ALL MY PRODUCTS ON ICOVER
GIVE ME ICOVER AND I’LL SELL $25M IN TWO YEARS!
BUSINESS MODEL
▪ Subscription / product setup fees
▪ Transaction fees charged per policy sold
▪ Revenue from optional features & services
Platform as a Service
TARGET CLIENT = INSURERS & BROKERS
DUAL MARKETING STRATEGY
CHANNEL PARTNERS
▪Access clients (insurance
companies and brokers)
thru STRATEGIC PARTNERS
and networking efforts.
▪Target upsell DISTRIBUTORS
such as banks, mortgage
companies, credit unions,
apartment rental agencies.
DIRECT TO CONSUMER
▪Create BRAND INFLUENCERS
and incentivize community
distribution channels with
rewards and bonuses.
▪Digital / Social Media
marketing campaigns to
promote awareness and user-
created content.
GOALS MET WHAT’S NEXT
$30k Angel investment 12/18
Provisional patent filed 5/19
Secured first Strategic Partner 4/19
Minimum demo product 3/19
MVP developed 6/19
8/19 Secure funding & pilot client
Accelerate marketing & sales3/20
Secure additional funding1/20
Launch pilot client10/19
Prepare for scale8/20
INVEST IN US
We have deep industry experience and personal stories that fuel our obsession to succeed.
iCover is a stellar product that people who are on the forefront of selling desperately want.
Our longer-term vision will help us dominate the market.
$750k to Strengthen our Engineering Team & Accelerate Sales
HARI [email protected]
314.255.3861
iCoverDIGITAL INSURANCE SERVICE
R E A L S I M P L E I N S U R A N C E
NICOLE [email protected]
314.570.4366
