Webinar for October 2020 - Customers for Life in a digital world

1. Customers for life in a digital
world
15 October 2020

2. 2
Disclaimer
Presentations are intended for educational purposes only and do not replace independent
professional judgment. Statements of facts and opinions expressed are those of the
participants individually and, unless expressly stated otherwise, are neither the opinion nor
position of The Digital Insurer. The Digital Insurer do not endorse or approve, and assume
no responsibility for, the content, accuracy or completeness of the information presented.

3. 3
Themes
• Is there valuation upside for insurers that can move from 'Product' to 'Customer Lifetime Value'?
• What can insurers learn from other sectors on the key value metrics they track/report?
• How quickly can executives expect to make an impact on results, and their share price, by moving
the organisation to CLV?
• What can insurers learn from banks on how they view the value of a customer?
• How many insurance pricing and valuation models need to change in order to adopt CLV in a digital
world?
• How are insurers going to accommodate wider ecosystem products and services in their
profitability assumptions?

4. 4
Today’s Panellists
Farooq Hanif
Head of Insurance Equity Research,
Credit Suisse
Christopher Ong
Chief Actuary & Head of Product Science,
Life Capital Asia Pacific
Swiss Re
Clarence Lin
Senior Vice President,
Regional Bancassurance
DBS Bank
Simon Phipps
Founder,
The Digital Insurer

5. 5
Discussion Agenda
75
Minutes
Simon Phipps - Introduction & Strategic Overview
Farooq Hanif – Credit Suisse
Clarence Lin – DBS Bank
Christopher Ong – Swiss Re
Panel discussion & audience Q&A
Hugh Terry - TDI Updates

6. 6
How to participate
How to participate:
If you have a question please type into the Q&A area
If you have a comment please type into the chat area
Session format:
The moderator will use a combination of their own questions and those from the
audience

7. 7
Strategic Overview
Simon Phipps
Founder, The Digital Insurer

8. 8
TDI POV: Industry Warning – digital
tipping point is approaching insurers
faster than expected
Executive teams must urgently
accelerate their transformation efforts
8
Presented by
Simon Phipps
Founder & Head of Asia, The Digital Insurer
Working together to accelerate the digital transformation of insurance

9. 9
Digital is creating opportunity
Working together to accelerate the digital transformation of insurance

10. 10
New Market Space is Emerging
Working together to accelerate the digital transformation of insurance
VOLUME VALUE
Physical 1st
(digitally enabled)
Physical 1st
(digitally enabled)
Digital 1st
(with right amount of human)
Digital 1st
(with right amount of human)
Digital
Micro
Digital
Micro
No.ofPolicies
Valueperpolicy*

11. 11
Customer Segments are transcending models
Physical 1st
(digitally enabled)
Digital 1st
(with right amount of human)
MicroInsurance
Physical1st
(digitallyenabled)
Digital1
st
(withrightamountofhuman)
DigitalMicro
HNW
Middle
Class
Low
Income
Incumbents
New Entrants / Greenfield
?
?
H
T Working together to accelerate the digital transformation of insurance

12. 12
Traditionally, insurers @ competitive disadvantage
Working together to accelerate the digital transformation of insurance

13. 13
But now, have tech-enabled ecosystem opportunity
Source: https://www.bain.com/insights/customers -know -what-they-want-a re - insurers -listenin g/
Working together to accelerate the digital transformation of insurance

14. 14
This requires a different way of thinking about value
Source: https://blog.kissmetrics.com/wp-content/uploads/2011/08/calculating-ltv.pdf

15. 15
…that goes beyond the traditional approaches
Source: https://rpubs.com/sisupalan/customer_lifetime_value

16. 16
Market Context : The rise & rise of Platforms
Working together to accelerate the digital transformation of insurance

17. 17
Valuations – significant upside for some insurers?
Working together to accelerate the digital transformation of insurance

18. 18
Farooq Hanif
Head of Insurance Equity Research,
Credit Suisse

24. 24
Clarence Lin
Senior Vice President, Regional Bancassurance
DBS Bank

25. 25

26. 26

27. 27
Swiss Re Learning and perspective
Christopher Ong
Chief Actuary & Head of Product Science,
Life Capital Asia Pacific
Swiss Re

28. 28

29. 29

30. 30

31. 31

32. 32
Panel Discussion
Farooq Hanif
Head of Insurance Equity Research,
Credit Suisse
Christopher Ong
Chief Actuary & Head of Product Science,
Life Capital Asia Pacific
Swiss Re
Clarence Lin
Senior Vice President,
Regional Bancassurance
DBS Bank
Simon Phipps
Founder,
The Digital Insurer

33. 33
Poll
Q. Based on what you've just heard, doyou think insurers need tostart acting more likeAmazon
&Starbucks when it comes tovaluing andengaging with their customers?
Response options:
a) Yes
b) No
Snap Poll

34. 34
Panel Discussion
Farooq Hanif
Head of Insurance Equity Research,
Credit Suisse
Christopher Ong
Chief Actuary & Head of Product Science,
Life Capital Asia Pacific
Swiss Re
Clarence Lin
Senior Vice President,
Regional Bancassurance
DBS Bank
Simon Phipps
Founder,
The Digital Insurer

35. 35
TDI Updates

36. 36
About the TDI Academy
Working together to accelerate the digital transformation of insurance
www.the-digital-insurer.com/tdi-academy/

37. 37
Common Core
Curriculum
1.1 The 4th Industrial Revolution
1.2 Our connected world
1.3 The power of Social
1.4 Changing consumer behaviour
1.5 More change coming
1.6 Why data is King
1.7 Cloud crushes costs
1.8 Insurance Re-Booted
2.1 SMAC as a baseline
2.2 AI, Machine Learning & RPA
2.3 Blockchain
2.4 IoT
2.5 Chat & Voice
2.6 Immersive Technologies
2.7 APIs & Microservices
2.8 Tech Architecture best practices
7 x 8 x 1hr lessons
100% Virtual
MCQs for each
4.1 Sales tools for agents
4.2 Underwriting – Life & Health
4.3 Underwriting – P&C
4.4 Product Development
4.5 Service & Administration
4.6 Claims – Life & Health
4.7 Claims – P&C
4.8 implementing value chain
innovations
5.1 Platforms & Ecosystems
5.2 Microinsurance
5.3 On-demand
5.4 Comparison Sites
5.5 Peer-to-Peer & Community
5.6 Health & Wellness
5.7 Commercial
5.8 Building new digital business
models
6.1 Data-led marketing
6.2 Direct digital marketing
6.3 digital marketing for advisors
(o2O)
6.4 Power of content
6.5 Omni sales & servicing
6.6 Customer lifetime value &
customer advocacy
6.7 Customer experience
6.8 Out-of-industry use cases
7.1 Why Strategy beats execution
7.2 Regulations and ethics in a digital world
7.3 Transforming the old vs building the new
7.4. Partnerships in a digital world
7.5 AGILE & LEAN basics
7.6 Change Management as a discipline
7.7 Cultural change for a digital world -
Digital as DNA
7.8 How to succeed when most
transformations fail
3.1 The Power of Data
3.2 Python basics
3.3 Python intermediate
3.4 Data visualization & example
tools
3.5 Machine learning (+ a little bit of
deep learning)
3.6 D&A use cases in P&C
3.7 D&A use cases in Life & Health
3.8 Predictive Modelling
TDI Academy – learning for the digital age
1
OUR
CHANGING
WORLD
2
TECH
ENAB
LERS
3
DATA
&
ANAL
YTICS
4
VALUE CHAIN
INNOVATIONS
5
NEW DIGITAL
BUSINESS
MODELS
6
MARKETING &
CUSTOMER
EXPERIENCE
7
STRATEGY
&
TRANSFOR
MATION
Range of Industry
Experts
TDI
PRIME
www.the-digital-insurer.com/tdi-academy/

38. 38TDI Academy – learning for the digital age
ADI & CDI compared

39. 39
Excellent participant & sponsor
feedback on ADI
“the ADI course has fundamentally
re-wired my brain, it is one of the
best investments I ever made"
TDI Academy – learning for the digital age
NPS
+51%
Excellent
Participant Feedback
“I have to say, I’m most impressed. The feedback from our
teams is overwhelmingly positive – you took on a mighty
task to disrupt something that needs to be disrupted – and
delivered. We’ll undoubtedly be putting more team-
members through ADI… and are very interested in EDI
and CDI too”
Sponsor Feedback

40. 40
Poll
Q. How interested are you in virtual learning & development programs
on digital insurance?
Response options:
a) Yes - for me & my company
b) Yes - for me
c) Yes - for my company
d) No - I think we know enough in this space
Snap Poll

41. 41
Insights to Solutions
Series 2 coming soon

42. 42
ITC Global 19th-21st October
https://insuretechconnect.com/

43. 43
Feedback please!
Three ways
 At end of webinar using survey
 When you receive the recording link
 To TDI / or panellist individually

44. 44
Contact Details
TDI Academy – learning for the digital age
Simon Phipps @ TDI simon.phipps@the-digital-insurer.com
Hugh Terry @ TDI hugh.terry@the-digital-insurer.com
Christopher Ong @ Swiss Re christopher_ong@swissre.com
Clarence Lin @ DBS clarencelin@dbs.com
Farooq Hanif @ Credit Suisse farooq.hanif@credit-suisse.com

45. 45
Customers for life in a digital
world
15 October 2020
Thanks for your time!
(feedback please)