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Europe Start-Up InsurTech Award 2017 - Insly

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Nominee for The Digital Insurer European Start-Up InsurTech Award

Publié dans : Économie & finance
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Europe Start-Up InsurTech Award 2017 - Insly

  1. 1. <slide> </slide> Risto Rossar March 2017 Cloud-based software for insurance brokers and agents
  2. 2. <slide> </slide>
  3. 3. <slide> </slide> We all have 15 years of experience in insurance and insurance IT Risto Rossar Chief Ott Kell Sales Robert Kokk Product
  4. 4. <slide> </slide> We built up the biggest broker in the Baltic States (IIZI) and realized that the insurance industry needs to change We used the best people, knowledge and software from our company to create the Insly platform
  5. 5. <slide> </slide> 95% of insurance agents and brokers are companies of 1–10 people who use paper and spreadsheets to run their business Based on Insly market experience, several studies, and the questionnaires of Sign-ups
  6. 6. <slide> </slide> Existing software solutions are not affordable for those companies
  7. 7. <slide> </slide> They face the following problems… • Too many people doing policy administration, reporting and back- office work • Critical business data is not backed up • Vulnerability to employees leaving with client data • Difficulty remaining competitive with more advanced brokers or direct insurance
  8. 8. <slide> </slide> Change or Die
  9. 9. <slide> </slide> We provide a cloud-based system for agents and brokers for a monthly fee. Our system simplifies the sales process and helps with administration and reporting. See product videos.
  10. 10. <slide> </slide> €49/month per user or 0.7% of GWP GWP = Gross Written Premium
  11. 11. <slide> </slide> A potential market of 1 million companies, representing €2.3 billion in subscription fees* There is also a potential €7 billion from secondary revenue sources** *No. of companies is taken from Axco Insurance analysis and from these countries where statistics is available 1 m companies x £147 month (average 7 users) x 12 = £1.7 billion **Insly estimation. Secondary revenue sources are product marketing for insurers, payment processing and premium financing
  12. 12. <slide> </slide> Markets we are actively selling today • MGAs in UK 400 companies - € 40 million • Brokers in UK 5 000 companies - € 150 million • Agents and Brokers in Poland 27 000 companies – € 200 million Market sizes are Insly estimated based on # of companies and average revenue that is possible to earn from 1 customer (not taking into account secondary revenue sources) on that market segment
  13. 13. <slide> </slide> Competition is mainly local in nature
  14. 14. <slide> </slide> Insly is the only one with global ambitions and focus on SaaS business model
  15. 15. <slide> </slide> 110 paying customers in 20 different countries use our software
  16. 16. <slide> </slide> Some of our customers
  17. 17. <slide> </slide> We have built very strong sales team and pipeline • Ranking #1 on google • Strong trust and traction in London insurance market • Poland quoting gateway ready and starting a sales to 27 000 companies • Current probability weighted sales pipeline is € 600 000 consisting of 400 prospects • CAC is € 3000 and CLTV is € 30 000
  18. 18. <slide> </slide> Investment and Financial
  19. 19. <slide> </slide> € 120 000 monthly revenues from existing clients and operating near break-even
  20. 20. <slide> </slide> Sales development (1000 EUR) 0 20 40 60 80 100 120 140 160 180 200 Subscription fees (MRR) Services (MRR) Implemetations
  21. 21. <slide> </slide> Long term sales forecast This sales forecast is based only on the markets that we operate today. We shall have 14% of UK MGA market, 1% of UK Broker market, 2% of Poland market and some revenue from international Sign-up channel.
  22. 22. <slide> </slide> Previous financing rounds • 2013 Spin off from IIZI (insurance broker) that included technology and investment in the amount of € 500 000 • In March 2016 € 950 000 from founders and different angel investors
  23. 23. <slide> </slide> www.insly.com