Welcome to the New World of INNOVAS

Why are YOU here today?

Increase Sales?

Save time/become more efficient?

Increase your coverage expertise?

Increase Sales

Who makes too much money?

Focus on growth:• “Small Private Firms Can’t Dodge Risk” Best’s

Newswire December 1, 2011• “Small Businesses Launch Amid Wobbly

Economy” USA Today November 30, 2011• “$15B Private D&O Market Largely Untapped”

Advisen Report November 11, 2011

Did you say $15B? As in Billion???

Insurance historically = “replacement” business

$3B is currently in force ($12B to go)• 9,000,000 small businesses

Impediments to addressing the “White Space”• Knowledge – secret to success

• Efficiency – kryptonite to insurance industry

How Can Innovas Increase Sales?

Knowledge/Education/Awareness – Innovas will be building an unrivaled library of articles, claims examples, limits models, etc.

Comfort – brokers sell coverage they know

Efficiency – Innovas saves hours per account so you can focus on sales!!!

Save Time/Become More Efficient

Current Process • Broken and Unprofitable• On average 4.92 person-hours per account• Typically, T+61 days for completion

Innovas Process• Revolutionary• On average less than ten minutes per account• Typically, T+1 day for completion

Current Process

Receive and Review Submission – 1 day/10 minutes Send submission to marketplace – 1 day/10 minutes Follow up with underwriters to get quotes – 5 days/15 minutes Follow up again with underwriters who didn’t respond – 3 days/15 minutes Receive quotes and review coverage items – 1 day/1 hour Renegotiate quotes to remove exclusions, add endorsements, remove subjectivities,

amend premium – 2 days/30 minutes Put together proposal for client – 1 day/1 hour Review proposal with client – 1 day/1 hour Bind coverage, receive binder, review binder – 1 day/20 minutes Send binder to client – 1 day/5 minutes Follow up for policy with underwriter – 30 days/5 minutes Receive policy – 10 days Review policy – 3 days/1 hour Send corrections back to underwriter – 1 day/5 minutes Receive accurate policy by driving over to carrier office and sitting at their desk until

issuance – PRICELESS (sorry couldn’t help it)

Total time – 61 days have elapsed. 4:55 of non-client facing time to procure coverage

Innovas Process

Receive submission from client Enter submission into Innovas system – 5 minutes Compare policies using Intuitive Coverage Evaluator – 15 seconds Receive Quotes from Innovas system – 15 seconds Utilize pre-selected proposal format from Innovas – 15 seconds* Review proposal with client – 1 hour Bind coverage in Innovas system – 45 seconds (includes log-on time) Receive policies – 75-90 seconds Pay online via Premium Finance (Credit Cards and E-Check/EFT/ACH will be

offered in the future)

Total time – however fast you want to go and 7:45 to 8:00 minutes

*in progress – want to build a proposal format based on retail input

Increase Your Coverage Expertise

Lets take a coverage test…….

Exclusions The Insurer shall not be liable to make any payment for Loss, in connection with any Claim made against an Insured:

(1) Conduct arising out of, based upon or attributable to any: (a) remuneration, profit or other advantage to which the Insured was not legally entitled; or (b) deliberate criminal or deliberate fraudulent act by the

Insured; if established by any final, non-appealable adjudication in any action or proceeding other than an action or proceeding initiated by the Insurer to determine coverage under the policy;

Increase Your Coverage Expertise

RPS – EL is dedicated solely to the placement of Executive Liability

We utilize our Project 10k scoring process • Review of every carrier in the marketplace• Over 80 issues reviewed per policy• Manuscript endorsements built with nearly all major

carriers based on our knowledge, expertise, and critical mass

Innovas provides you with the ICE for every account (Intuitive Coverage Evaluator)

Innovas will provide you with a “Top 25” items comparison for every account

Details on Innovas

Lines of coverage• D&O, EPL, Fiduciary, Crime (K&R coming soon)

Underwriting Appetite• Up to $100,000,000 in revenue/sales• Up to 350 employees• Private Companies • Non-Profits will be ready shortly

Innovas Participating Markets

Current Markets• Hiscox (Lloyd’s of London)• ERisk (Scottsdale)• Monitor (W.R. Berkley)

▫ All carriers are admitted in most states

Markets in the queue• Liberty, Beazley, RSUI, AWAC, Hudson, Markel

Future Lines of Coverage

Cyber and Privacy Miscellaneous Professional Liability (E&O) Workers Compensation? General Liability? Business Owners Package? Personal Lines? Surety Bonds? What else do YOU want?

What Does the Future Hold?

Renewal Process – three clicks?

World’s largest repository of claims examples and settlements

World’s largest database on buying behavior such as limit, retention, and premium

In today’s tough economic times it’s important to increase your capacity with

existing resources.