pet insurance - ondernemersuniversiteit · pet insurance • combining resources, knowledge and...
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Pet insurance:
Open business model generation
in services
Wim Vanhaverbeke
Hasselt University
ESADE Business School
Vlerick Leuven Gent management School
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Fortis venturing case:
iCare Pet Insurance
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Fortis venturing case:
Pet Insurance
• Reason to start the venture?– Enlarging the product portfolio
– But also test ground for experimentation in the health insurance sector (increasing liberalization)
• Problem:– Insurance companies want to promote their products
– No attention for the emotional bond of owners with insured house, yachts, cars, family, dogs..
– Insurers are rational and have difficulties selling products with emotional content
• Sustainable competitive advantage:– Build on tight links with partners
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De Hondenverzekering: 3 formules op maat
Elke hond is uniek. Daarom berekent Corona Direct voor elke hond een
verzekeringspremie op maat. Dat is niet alleen logischer, maar ook veel eerlijker.
Bovendien bepaalt u volledig zelf hoe u uw viervoeter verzekert. U heeft de keuze uit 3
formules: GOUD, ZILVER en BRONS.
GOUD
Uw voordelen: Terugbetaling van uw dierenartskosten tot € 3.500* per aandoening, ook voor langdurige
behandelingen.
Plus bijkomende vergoeding van:€ 750 bij overlijden door ziekte
€ 750 bij overlijden door ongeval
€ 750 bij diefstal of verlies
€ 750 voor advertentie/beloningskosten
€ 750 opvangkosten
€ 2.000 reisannulatie
Bereken online uw Hondenverzekering
via het grijze formulier hiernaast.
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PremievoorbeeldenVoor elke hond is er een formule op maat:
Hond Maandpremie Dierenartskosten
Blanche (4 jaar) Zilver € 20,58 max. € 2.500*
Akira (6 jaar) Goud € 18,18 max. € 3.500*
Pluto (1 jaar) - Brons € 8,86 max. € 1.500*
* Franchise van 20% met een minimum van € 100 en
een wachttijd van 20 dagen
Bereken online uw Hondenverzekering
via het grijze formulier hiernaast
Elke hond zijn eigen verzekering: vanaf € 10 per
maandElk hondenras heeft specifieke eigenschappen, sterktes en
gebreken. Sommige honden zijn gevoeliger voor ziektes dan andere.
Ook oudere honden zijn doorgaans minder sterk dan een hond van
enkele jaren oud.
Daarom wordt de premie van een Hondenverzekering altijd
berekend op maat van uw hond - op basis van zijn geslacht, ras en
leeftijd.
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How to start?
• Who are the dog owners among our customers?
• How to reach effectively dog owners who aren’tclients yet of Fortis Insurrance?
• Actuarial knowledge (50 dog races)?
• How to connect and inform dog owners?
• How to deliver information and 24/24 services?
• How to assess compliance of vets and dog owners?
• How to launch services with emotional content?
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Your partners and their benefits from
your offer
• Pedigree (Masterfoods):
– How to sell products with emotional content in exchange of website access
– Database of dog owners
– Functional food to improve health of pets
• Woef and Gauss
– Insurance improves and professionalizes dog services vs. access to most dedicated and thrustworthy dog owners
– Broader reach vs. news and exchange of information
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Your partners and their benefits from
your offer• Vets
– More income on a regular base vs. reliability and correct prescription behavior
– Compare prescription behavior and / or let people exchange info on the website
• Dog owners– Insurance is highly customized an highly professional services vs.
reliability / thrustwortiness
– Fixed packages: you know what its costs (no risks except franchise and extremely high costs )
– Chip control and compliance to reduce cost for insurer
• Dog breeders: – Info about dog diseases about particular dog breeds and
families
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Pet Insurance
• Combining resources, knowledge and
databases of insurance company and its
partners
• Characteristics:
– Bonding of clients in a commodity like market
– Cross industry innovation,
– Relational capital / open innovation
– Sustainable competitive advantage
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BM Canvas
Key activities
Key Partners
Key Resources
Cost structureRevenue stream
Channels
Value propositions
Customer
Customer relationship
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Business model canvas
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Business model canvas
• Europ assistance
• ICT
• Database
• Network of
insurance agents
• Website
• Woef
• Europ Assistance
(calls)
• Dog owners
• Later on (cat and
rabbit owners)
• Insurance for
highly
professional ,
integrated care for
beloved dog at a
reasonable price
• Information,
communication &
services
• Community
development
• Untapped market
• Premium price
• Spillover for other
insurances
• Monthly fee
• Masterfood
(selling product /
services) with
emotional content
+ database)
• Communities
(Woef; Gaus)
• Scandinavian
animal insurer
(how to launch
this insurance)
• Network of
thrustable vets
(routine checks
and service)
• Bonding of
customers
• Emotional contant
selling
• Ecosystem builing
• Insurance fee
• Europ assistance
• Network of
insurance agents
• Compliance of vets
and dog owners
• Right prescription /
treatment
• Etc…