Democrance - InsurTech Innovation Award 2022

1. SAAS INSURANCE TECHNOLOGY
Q3 2022
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2. LEGACY BY THE NUMBERS
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7
AWARDS
With premium amounts
ranging from
$1 to $250,000
20
CLIENTS
16
MARKETS
2.5m
POLICIES
CAMBODIA
EGYPT
KENYA
KUWAIT
MALAYSIA
MEXICO
PHILIPPINES
QATAR
SAUDI ARABIA
THAILAND
UAE
UGANDA
OMNI
CHANNEL
LIFE
PRODUCTS
Forbes 2015
Forbes 2016
LumenLab 2017
Fintech AD 2020
DWIC 2020
MENA IR 2020
MENA IR 2021
MENA IR 2022
CHANNELS
ONLINE D2C
TELCOS
MICROFINANCE
MOBILE/DIGITAL WALLETS
AFFINITY
BANCASSURANCE
AGENTS/BROKERS
MONEY TRANSFER
P&C AND HEALTH
INDIVIDUAL AND
GROUP
PERSONAL AND
COMMERCIAL
RETAILERS
EMPLOYERS
FRANCE
BELGIUM
SENEGAL
MOROCCO

3. DEMOCRANCE VALUE PROPOSITION
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Democrance is a B2B data-enabled, white-label SaaS plug-and-play technology platform that
digitizes sales & distribution verticals of the insurance value chain for emerging market segments
Cutting-Edge SaaS Technology
• Agile technology stack with single back-end integrated real-time with multiple front-ends & the ecosystem
• Human-centric, fully digitized and integrated customer journey and experience
Available Anywhere
• Selection of preferred global cloud provider and data hosting location (in country or abroad)
• Localization options including front-end translations into any language and local data mirroring
Speed to Market
• Ability to configure, launch and test products, channels and markets at 1/8th cost of legacy solutions
• Go-live in 2-4 weeks with pre-underwritten products
Self-Service Platform with Out-of-the-Box Capabilities
• Design, build and customization of sales journeys and underwriting rates, rules & pricing
• Out-of-the-box functionalities available for most common client requirements
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4. HIGHLIGHTED CLIENT SUCCESSES
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Boosting Growth
205% month-over-month growth in lives
covered: for a top 3 global composite
insurer that launched 5 different entities
on the platform
• Doubled online conversion rates
• Improved renewal rates by 55%
Quick Market Entry
Launch of MENA’s first digital
bancassurance solution within 3 weeks:
with a top 5 global life insurer
• Improved cross-sell rates by 32%
• Reduced policy servicing costs by 65%
through self servicing functionality
Increasing Traffic
150+ products and 2,000+ agents and
brokers onboarded: for a top 5 global
P&C using the platform daily to increase
efficiency and sales productivity
• Improved Underwriting STP to 80%
• Doubled Quote to Bind ratio for SME
New Product Launch
Increased time-to-market by 500% for
UAE’s largest health insurer in testing
and launching new insurance products
• Reduced new product configuration
time from 3 weeks to one day
• Helped lower cost of new product
launch by 80 percent
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5. OUR PLATFORM CAPABILITIES : SALES & DISTRIBUTION
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DISTRIBUTION
RENEWALS, CROSS-
AND UP-SELL
UNDERWRITING BILLING & PAYMENTS
DATA AND
AI
ASSETS
• Customised billing reporting
• Pre-populated submissions
data from 3rd party
• OCR capability for data capture
• Algorithm-powered renewal,
up-sell and cross-sell triggers
• External/internal data to
improve underwriting and
submissions
API AND
PARTNER
ECO-
SYSTEM
• Vendor-agnostic payment
gateway integrations
• Preferred partnerships
• 3rd party data integrations
• Policy admin system
integrations
• Integration with MS Dynamics
accounting
• Partners discounts/ freebies for
loyal customers
• Non-traditional distribution
models
• Preferred partnerships
• Implementation partners
CORE
DIGITIZATION
• Front-ends mapped to single
back-end
• Campaign management &
marketing tool
• Billing workflows
• Automated billing
communications
• STP/automated UW with
configurable rater
• Out-of-the-box insurance
product configurator
• Policy admin workflows
• Customer and broker renewal
notifications
• Auto-quote based on existing
data
SINGLE SOURCE OF TRUTH DATA LAYER, DATA EXTRACTS, REPORTING AND DASHBOARDS
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6. DATA/ REPORTING
Self Servicing/Policy Admin
• Customer self- service portal for
endorsements, additions, deletions
• Product configuration & Rater
• Enrolment / Policy booking
• Customer & Policy data
Claim Management
• White-label front-end for
customer
• FNOL with document upload
• Customer communication
(Email, SMS etc.)
• Back-end claims admin for assessors
with automated workflows
Other Functionalities
Accounting
Reserving
Reinsurance
Core Policy
Admin
Final Claim
Settlement
INSURER
/
BROKER
SINGLE SOURCE OF TRUTH DATA LAYER, DATA EXTRACTS, REPORTING AND DASHBOARDS
OUR PLATFORM CAPABILITIES : SERVICING AND ADMINISTRATION
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7. A DATA-POWERED PLATFORM WITH 5 LAYERS OF CAPABILITIES
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5) Analytics, Data Science & Artificial Intelligence (AI)
Sophisticated and customized modeling & engineering
techniques applied to business goals
4) 3rd Party Data Integrations
API & other integrations with data vendors
across the insurance value chain
3) Dashboards
KPIs across sales, renewals & intermediary
performance and User Behavior Analytics
2) Data Extracts & Reporting
Real-time data extracts and reports, inclusive of
developer APIs for 24/7 analysis
1) Data Layer
Single Source of Truth for all data on
Democrance platform
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8. OUR TEAM
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The Democrance
team has
expertise in both
technology and
insurance with
35+ members
across Business
Development,
Engineering,
Operations,
Product &
Strategy in Dubai,
London
& Tokyo
118
14
Years of Combined
Insurance Experience
Masters Degrees PhD Degrees Years of Combined
Technology Experience
HIGHLIGHTED EXPERIENCE
4 190
HIGHLIGHTED DEGREES
BSc in Radioelectronics
MSc in Computer Engineering
MS in Game Theory
PhD in Computer Science
PhD in Data Visualization & Exploration
PhD in Insurance Innovation
PhD in Modelling

9. ADDRESS
Floor 6, One JLT tower / Jumeirah Lake Towers
PO Box 123422 / Dubai / United Arab Emirates
TELEPHONE
+971.4.429.58.31
EMAIL
contact@democrance.com
WWW.DEMOCRANCE.COM
THANK YOU FOR YOUR ATTENTION.
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