• X P R I M M

• G o i n g f o r w a r d , t o g e t h e r .

2

What does it mean to be digital?

3

Digital in numbers

Business is

social

▪ 86% do not do business if the

company does not have social

networks

▪ 94% would pay more for a

better experience ▪ 26% share negative comments

New client ▪ Connected everywhere ▪ Meets their expectations ▪ Understand and Reward Him

Data , cloud &

Mobile

▪ 90% of the data has been

created in the last 2 years

▪ By 2025: +50 billions of

Internet-connected devices▪ 50.3% of traffic e-commerce comes

from mobile devices

4

Digital matrix

2 Key Pillars of Digitization - Styles and Profitability

Fashionistas

(-11%)

Digital Masters

(+26%)

Beginners

(-24%)

Conservatives

(+9%)

Dig

ital

Cap

abili

ty

Leadership Capability

5

What is digital transformation for?

Utopia is on the horizon. I walk two steps, it moves away, two more and the horizon moves away ten steps further. So, what is utopia for? For that, it is good for walking.

Eduardo Galeano

6

Digital is the best bet

7

Changes in strategic assumptions: from the analogue to the digital age

Click to edit subtitle

Before Now

Clients

• Seeing customers as a mass market• Communications are transmitted to customers• The company is the main influence• Marketing to persuade purchase

• Customers as a dynamic network• Communications are bi-directional• Customers are the main influence• Marketing to inspire purchase, loyalty and support

Competition

• Competition in defined sectors• Clear distinctions between partners and rivals• Competition is a zero-sum game• Key assets are held within the company.

• Blurred distinctions between partners and rivals• Competitors cooperate in key areas• Key assets reside in external networks

Data • The challenge of data is its storage and management • The challenge of data is to turn it into useful information

Innovation• Decisions made based on intuition and antiquity• Testing ideas is expensive, slow and difficult• The focus is on the "final" product

• Decisions taken on the basis of tests and validation• Trying out ideas is cheap, fast and easy• Focus on minimum viable products and post-launch iteration

Value• Industry-defined value proposition• Optimize the business model as much as possible.

• Value proposition defined by changes in customer needs• Evolve before being forced to stay at the forefront

8

Three trends as threats

• Competitive advantages to the "data company": owns & analyzes

From protection to risk prevention

• "Data company can attract customers with the lowest risk profiles

The power of data and analytics

• Customers search on the internet before they act

The “online trust”

20% of cars will have a high safety system by 2020

Google now processes over 40,000 search queries every second on average

Around 69 percent of people use at least one Google service or product daily.

9

A complex journey

Digital CustomerEngagement

Distribution(Front – Office)

Digital Customer Services

▪ SocialMedia▪ Corporate Website▪ Digital Communication▪ Content Strategies▪ Customer Portals

▪ Tablet Sales Toolkits▪ Distributor Portals▪ Distribution Models▪ Lead Management Solutions

▪ Digital CustomerExperience ▪ Digital Operations▪ Mobile Technologies

Technology Organization Back Office

▪ Strategic Reports ▪ IT Infrastructure ▪ General Reports▪ Lead Analytics & Big Data▪ Technology Usage

▪ Vision▪ Strategy & Implementation▪ Innovation as a collective genius▪ Team Structure

▪ Claims Transformation▪ Digital Underwriting▪ Worker enablement▪ Performance management

Leve

lof

Imp

lem

en

tati

on

Social & CustomerInteraction

Mobile & Applications

Internet Transaction

Omnichannel

Real time

+

+Data Collection

• U N D E R S TA N D I N G T H E F U T U R E O F I N S U R A N C E

11

Ecosystem affecting Insurance

IA IOT Robot Cybersecuriy Blockchain

LegalTech Medtech Data Proptech

ColaborativeEconomy

Social Media

Autonomous Car

FintechAPI

infraestructures

In 2018, we'll have 51 million cars with pre-installed telematics.

In 2020, the wearables industry will be worth 11.61 billion

This year, 31.4 million connected households in the United States

In 2019, the robotics market in B2C and B2B will represent a value of 1.2 billion.

12

From cash management to risk management

We contact when a claimoccurs

Tod

ayIn

pro

cess

Reduce thefinancialimpact

Reduce risk

24h Connection

13

The power of platform

MAYA Insurance

Nike Audi

Facebook Ikea

CLIENT

Personalized data

Premium payment ☺

Data

Agreements

Use of Blockchain > Onboarding, Customer Engagement, Fraud detection, reduce administration cost

14

The ultimate goal

GoogleBonjour, Emmanuel is raining

and you have a meeting 10 km from here.

José, your favourite Uber driver, has arrived

Your invoice has been sent to your email

Tell Me Do it for me I am the happy payer

Insurancein process

Bonjour, Emmanuel is raining and you have no accidental

insurance.

I have insured you with MAYA Insurance for the whole day

Your invoice has been sent to your email

15

Make it Smart and Simple

Blockchain is more than an Utopia

16

Change in Life Insurance

Traditional Future

Main Distribution Channel Bancassurance / Agents Digital

Subscription Manual Intelligent

Pricing Actuarial Tables Dynamic

Advisory Personal Bot

Contact with customer Once per year Constant

Products Launch Every 9 months Frequently

Purpose of the insurance Cover Prevention

17

Three main conclusions

We are moving from an unknown risk VS to a predictable reality1

Product focus VS Customer focus (Pay as you go, micro insurance)2

Digitization aims to "reduce the probability of loss". 3

18

•BUT IS THE CLIENT READY TO BE

DIGITAL ?

19

Underwritech would help us to attack industry challenges (2)

Source: LIMRA

Customers would go online (1)

Digital Demanders

Most likely to buy online (27%)

Channel Switchers

Willing to consider buying online (52%)

Interactors

Want to talk before they buy

(21%)

▪ Often triggered by someone they know and seek information from both online and financial professionals

▪ They locate financial professionals via social networks

▪ Most likely segment to have purchased online and to want to buy online in the future

How do they research and

purchase?

▪ Consider financial professionals as the most valuable information source

▪ Low interest in using online sources or purchasing there

▪ Usually purchase in person, although phone and work are common

▪ Consider products by their own initiative and seek information online and from financial professionals

▪ Usually buy in person, but about 1 in 6 buy at work or online

▪ May buy online if the company website makes it easy to self-educate, they know the company and they can complete the purchase online

Type of Customer

Online purchasing propension

Highlow

Nearly 80% would use online channel to buy life insurance

20

Underwritech would help us to attack industry challenges (3)

Customers are mobile addict (1)

More than

½of UK life insurance searches

Start on a mobile device

Conversiontypically less than

½those from desktops

QuickCover: Mobile-first life insurance

Frictionless

underwritingOne question per pageTactile “yes/no” tap answers

Minimised mental

burdenAvoids asking the two hardest questions in life insurance: how much cover and for how long

Pre-loaded

quotesQuote results loaded either side of the customer’s choice to allow instant prices to display

Cumbersome

policy docsPolicy documents are still in PDF form and so not truly “mobile first”

22

AND THE INSURTECH?

23

New actors

3 types of insurtech

“Value proposition”

Challenger Integrator Colaborator

24

Insurtech embracing digital life insurance

Online players that we support

UtwinFrench insurtech selling life insurance linked to mortgage

YuLifeIt is a new and disruptive breed of insurer.

Our vision is to put the person back in the

centre of insurance. We will reward health,

inspire life and protect our customers with

fast, beautiful and simple insurance.

GetsuranceGetsurance offers digital life insurance that people

can buy online in 5 minutes.

We’re a small Berlin-based team of innovators who

are reshaping the insurance industry. We develop

our products from scratch using cutting edge

technology to create a user-centric experience.

Getsurance was founded in 2016 and has been

moving fast ever since with the support of our

partner and risk carrier, the Reinsurance Group of

America.

Fabric Fabric offering a digital insurance-buying experience that is fast, affordable and easy.

Ethos Ethos is a life insurance company that creates modern, ethical life insurance to protect the life of their clients.

25

Millennials & Insurance

26

Possible strategies to winmillennials customers

GIVE BACK Mobile FirstRISK

PREVENTIONPOCKET

INSURANCE

27

MUM, I WANT TO BUY A LIFE INSURANCE POLICY

© 2018 RGAX LLC. All Rights Reserved.

• Emmanuel DjengueInnovation Director, Continental Europe

• Emmanuel.Djengue@rgax.com

• www.RGAX.com