DIA Barcelona - Presentation of @AXAVentures @Minh_Q_Tran on #Insurtech #Instech trends
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Transcript of DIA Barcelona - Presentation of @AXAVentures @Minh_Q_Tran on #Insurtech #Instech trends
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- DIA Barcelona -April 21th 2016
AXA STRATEGIC VENTURES@AXAVentures @Minh_Q_Tran
www.minhtran.fr
We shape the future of insurance and asset management by
investing in technologies that transform our industry
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SUMMARY.
1. AXA Strategic Ventures2. InsurTech trends3. Investment thesis
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12 PEOPLE
San Francisco
NYCParis
LondonHong Kong
A Venture Capital fund, dedicated to emerging strategic innovations relevant to
€230M
Seed &
Venture
WHAT IS AXA STRATEGIC VENTURES ?
4 OFFICES
A strategic initiative launched in February 2015 by AXA• Set up as a separate regulated entity with a
professional team dedicated to making
investments in start-ups.
✓ insurance,
✓ asset management,
✓ financial technology
✓ healthcare service industries
• ASV provides seed (early stage of the start-
up) to venture funding (acceleration phase of
the start-up) to start-ups built by experts
founders on leading edge technology that
can be scaled worldwide.
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SEEDvalidate, build
—
✓ Pre-revenue✓ Clear direction and target
milestones✓ Initial development of product/
service✓ Committed founding team✓ Generate investor interest
EARLYLaunch
—
✓ Some revenue and user growth✓ Clear product-market fit✓ Attract additional resources – personnel/
investor
VENTUREScale
—
✓ Measurable market penetration and user growth
✓ Large and growing market✓ Ability and desire to scale quickly✓ Attract significant resources –
business deals; investors
GROWTHmaturity to exit
—
✓ Established✓ Terminal growth – steady-state expected
growth moving forward✓ Resources easily acquired✓ Founder exit or continue BAU
SEEDangels/crowdfunds/seed vc
SERIES Acrowdfunds/vc
SERIES B, Cvc
SERIES C1, …Vc, private equity
INDUSTRY FUNDING ROUNDS
COMPANY STAGE OF DEVELOPMENT
SEED>$100K
VENTURE<$10M
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SUMMARY.
1. AXA Strategic Ventures2. InsurTech trends3. Investment thesis
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How we define
InsurTech
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InsurTech = technologies that might impact/disrupt insurance businesses
Source : https://www.cbinsights.com/blog/insurance-tech-startup-funding-2015/
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InsurTech is following FinTech but
growing quickly
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10Source : http://seedingtech.com/2016/02/01/the-insurance-tech-moment-is-coming/
InsurTech investments are growing fast (3.5x in 2015)…
InsurTech investments are lagging 2 years behind FinTech but growth might be faster
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…Especially as incumbents are already investing in this space
Source : https://www.cbinsights.com/blog/insurance-startup-investing
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Significant amounts have already been invested
in InsurTech companies
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Source : https://www.cbinsights.com/blog/insurance-tech-startup-funding-2015/
$2.7B invested in InsurTech in 2015…
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Source : https://www.cbinsights.com/blog/insurance-tech-early-stage-2015
… but mostly in the US, so far
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And Insurance has a strong potential
for disruption
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Life Insurance $2.3TNon-life Insurance $1.4T
Huge market world wide
Mobile for distributionBig data for underwritingMachine learning for personalization
Technology can help on several aspects of Insurance
Solvency II - Agents (MGA) - Broker - Reinsurer
Regulation as a barrier to enter the market
Digitization is well behind other industries
16Source : https://medium.com/@robmoff/disrupting-insurance-4cf61fb8c551#.ofh3bhzbb
Here are the 4 main reasons why Insurance is open to disruption
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SUMMARY.
1. AXA Strategic Ventures2. InsurTech trends3. Investment thesis
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The InsurTech ecosystem is structuring itself around strong pillars
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All the insurance value chain is being challenged by startups…
Source : http://techcrunch.com/2016/02/02/opportunities-in-the-risk-business-abound-as-insurance-is-ready-for-disruption/
Out of 1.000 leads received in 2015, 10% were fully InsurTech startups, and it accelerates in 2016.
Product & Pricing 30%
Distribution >50%
Claim <20%
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…And all the verticals are targeted by InsurTech startups
Source : http://techcrunch.com/2016/02/02/opportunities-in-the-risk-business-abound-as-insurance-is-ready-for-disruption/
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We are looking for startups that will
Insurance
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Disruptive technologies:Framework for investing
*Adapted from “The Innovator’s Dilemma” de Clayton M. Christensen
Mar
ket A
dopt
ion
Demand
Time
Startup
User trends
Tech solutions
Business model
Disruptive technology
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DISRUPT MARKET PRACTICE IN TRAVEL INSURANCE Airfares increase as we get closer to departure date due to strong yield management techniques.
Portfolio
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We predict airfares
Creation of millions of qualified leads worldwide
Disrupt market practice by shifting user experience
Protection will be proposed before purchasing
DISRUPT MARKET PRACTICE IN TRAVEL INSURANCE
Portfolio
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Thesis 1 = Full-stack digital leads
Source : www.cnet.com/news/your-next-insurance-agent-will-be-a-robot/
Generate leads
+ 1 to be announced
Contact managementValue chain
ASV portfolio
Startups identified
KYC Subscription
Qualify leads
+ ChatBots are spreading as a new means to interact with customers
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@Minh_Q_TranMinh Q. Tran
@FGraillotFlorian Graillot
Let’s keep in touch on Twitter