Rewiring the Insurance Industry - SEC › Archives › edgar › data › 1694000 › ...• Begin...
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©2016 GAPro, All Rights Reserved Rewiring the Insurance Industry
Transcript of Rewiring the Insurance Industry - SEC › Archives › edgar › data › 1694000 › ...• Begin...
©2016GAPro,AllRightsReserved
Rewiring the Insurance Industry
©2016GAPro,AllRightsReserved
KeyTruth
Every Industry & Transaction Needs Proof of Insurance
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©2016GAPro,AllRightsReserved3
©2016GAPro,AllRightsReserved
GAProSystemClearingHouseSolu8on
RO
ü Automa;onü Dataownershipü Selfserviceü Warehousingü Worklistsü Trackingü Excep;onrepor;ng
Informa;onGateway
3rdPar8es
Agency
Insured
Carrier
PolicyData
RiskProfile
CollectsVerifiesNo;fies
ValueAccuracy
Opera;onalEfficiencyRealTime
3rdPar8es
Agency
Insured
Carrier
ü Fraudpreven;onü “Singlesourceoftruth”ü Analy;csü Dashboardsü Complianceü Confirma;onü Alignment
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Example:OneBroker4MillionCOI’sperYearx$4.5perCOI=$18MillionperYear(75%savings)
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2. Co-Market with • Source of Revenue as well as access to their customers • 1,500 Carriers • 20,000 Agencies
• Deliver to LOIB Customers • Begin Billing
GAProSystemGo-to-Market
1. CompleteMVPwith• Risk Profile • Authentication • Rules / Workflow • Exceptions / Notifications • Track & Report • Back Office: Billing, etc.
• Prepare Marketing Materials • Support Sales • Access Data from Carriers (Top
7% have 80% of Data)
3. DirectSales• Marketing Materials • Whitepapers • Webinars
Year1Target:$2.7MØ 500CarriersØ 1,500Agencies
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GAPro CustomerTrac8onCurrent
• NAPA/Gallagher, 4th largest broker globally
• 17,000 – pilot agents
• 100,000+ – additional potential agents
• Sponsoring insurance carriers
• GAPro Asia
Pipeline
• Life/health insurance companies (250,000+ agents
• Insurance agency association (23,000)
• Ride share companies
Other
• Carrier Engagement include AIG, Liberty Mutual, Aviva
• Agency Letters of Intent to Buy
• 3rd Party & Insured Pilots
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RevenueModelSaaS Access
§ Agent
§ Carrier
§ Insured
§ 3rd party
GAPro Functions
§ Risk Profile § Authenticate § Dashboard § Rules/Workflow § Evaluate/Notify § Exceptions/Actions § Escalate/Communicate § Track & Report
Import Engine
§ ACORD § Policies § AM Best § IVANS § Gov’t § Others
Data Analytics
Transac;ons
Revenue/Fees
PhaseIAgencytoCarrierRa8o:3to1CarrierRevenue• Subscrip8on–Average$5Kper
Year
AgencyRevenue• Usage-BasedLeadingtoSubscrip8on
–Average$180perYear
Target:Year1• 1,500Agenciesx$180=$0.2M• 500Carriersx$5K=$2.5M
Data
SubscriptionFees
Size Compliance
CostGAProEstimated
MarketAgencies 38,500 $1.2B $0.2B
Carriers/Brokers 3,800 $10.0B $1.9BOthers * $25.0B $4.8BTotal $36.2B $6.9B
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Capital Needs
• StartGarden$125,000
• InvestDetroit$50,000
• PowerMoves$40,000
• OwnersCap$35,000
• Take-to-Marketsystemdevelopment
• Customertrac8on&marke8ng
• Managementteam
FundingtoDate Uses
$1.2–1.5M• $600–750KTranche
Follow-onGrowthFundinginlate2016–early2017
• MVPSystemDevelopment• CustomerAcquisi8on• RoundoutSalesandCustomerSupport
FundRapidGrowth&SpecificIndustries
Need Uses
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NeedsUpdate
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Management TeamHerbert E. Gibson, CEO – Vision & Industry Relationships
- Founder, ITG Advisors 2008–2014- 18 years of industry experience
Chet Gladkowski, CIO/CMO – Partnership Programs with Customers and Data Providers - Carrier, agencies, vendors, CIO, ACORD relationships - 41 years of insurance & technology experience
Next Hires: Technical Manager/CTO Director - Sales & Support 9
Naga Peddibhotla, CSO/CDO – Strategy & Development - Project management, corporate and banking relationships - 15 years of investment banking, strategy & business development
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ExitStrategy
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