Webinar for August 2018 Technology infrastructure for global insurers
ABI
1.
2. ABI is a disruptive, technology-focused product design,
management, support and distribution solution for the
insurance industry.
We use technology to deliver customers from all levels
of the industry an integrated, cloud-based marketplace,
and provide full support across the technical, commercial,
financial and regulatory requirements that underpin both
B2B and B2C insurance programs and product offerings.
3. Policy wording, schedules & document generation.
Premium calculation and sophisticated pricing model design.
Automated marketing and renewal programs.
Integrated with leading carriers and insurers, including bordereaux support and data warehousing.
Complete customer relationship and claims management.
Global program management and broker network support.
Powerful reporting and data mining capabilities.
What is the ABI
Platform?
Simply put, ABI makes it easy to develop, market and distribute insurance
products online. Underpinning this model is our revolutionary cloud service
ABI Platform which brings the parties to an insurance contract together and
provides the tools required to transact and grow programs, including:
4. The Digital Distribution
Revolution.
“Technological innovations are breaking up the traditional insurance
distribution process and re-configuring standard intermediary functions.
Distribution has progressively broadened from an own-sales force versus
agent/broker paradigm to a wide variety of direct and indirect channels
between insurers and existing and potential customers.”
- Swiss Re, sigma No 2/2014
6. Factors Driving
Demand.
Across its various customer groups ABI provides a compelling cost model and improved ROI
for the distribution and management of insurance programs which increase operational
capacity and support distribution to the modern online consumer who is looking for greater
control over the decision making process and transparency in pricing:
The platform is highly customisable and returns control of the program’s
marketing and management to the operator.
Automation and self-service reduces staff load and associated overheads,
countering increased competition in the marketplace.
Customer focused design and proven engagement model reduces time-to-market,
and allows the operator to ‘own the customer’ providing a clear point of difference
to existing resale and commission solutions.
7. Fintech – the boom continues…
Global investment in fintech
ventures in the first quarter of
2016 reached $USD 5.3 billion, a
67 percent increase over the same
period last year.
Insurance industry has continued
to focus agencies and brokers
on the need for technology
distribution solutions to counter
reduced premiums and increased
costs.
New entrant startups in various
areas of the insurance space
continue to disrupt incumbents.
Technology driven transformation in Financial Services remains a strong investor focus with continued
market support.
8. Company Highlights.
Unlisted Australian
Public Company.
Tightly held
share registry.
Mature product offering,
5 years of development.
Proven, in-market and
generating revenue.
Concurrent build and
commercialisation
strategy.
Global solution with
growing international
uptake and increased
partnering opportunities.
Diverse customer
acquisition models
supporting B2B and B2C
engagements.
9. The ABI Group.
The ABI Group Of Companies represents a unique offering in the market that is underpinned
by the cloud-based ABI Platform Technology. The technology itself represents the group’s
major asset with all IP and rights held by the ABI Platform subsidiary. In order to support the
the technology through product development and customer support while demonstrating the
technology’s capabilities the group also includes two operating entities (NFIB and WFIB).
WFIB is the international extension of the NFIB model. It utilises the ABI Platform ‘Partner Model’
whereby large broking agencies are recruited to act as the regional distribution and support
representatives for franchise business insurance products. These partners are given access to networking
opportunities and a complete marketing kit. Partners currently pay a yearly fee for access to the platform /
program and ABI receives a commission / royalty for each transaction handled by the platform.
New Zealand Partner to Commence Operations Q3 2016
Revenue Stream from Licensing and Transaction Fees
New Partner Relationships In Final Negotiations
10. ABI Platform is the central business unit, and holder of all software rights and intellectual property
associated with the technology. The entity also manages all licensing and holds royalty / commission
agreements with partners. Through the NFIB and WFIB businesses ABI Platform has a secure and
established growing revenue stream with significant opportunities currently external to the group
progressing rapidly.
Holds all Software Rights & IP
Revenue Stream from Licensing & Commissions
Significant Opportunity Pipeline
NFIB is a profitable broking concern in its own right, which has now been operating on the ABI
Platform technology for 4 years. It is currently one of Australia’s leading providers of insurance
products for the Franchised Business sector, delivering solutions to many blue-chip franchises
across Australia. The company has continued to grow YOY with minimal marketing and
promotional expenses which is a testament to the power of the ABI technology and the business
model it enables.
40 Brands Managed
4000 Franchisees Insured
Provides Group AFSL and Product Support
11. Leadership.
Founder, strategist and responsible for local and international network development. 34 years insurance industry experience in both underwriting and
broking fields. Co director in broking company and appointed Lloyds of London cover holder 2014.
Darryl Morris JP CIP
Chief Executive Officer
Keaton Wallace
Non Executive Director
Mr. Wallace has had an extensive business career that spans both the private and public sectors over the past 15 years specialising in the execution of
strategic commercialisation plans across Telecommunications and technology sectors. As a partner and director in Simplisite Business Solutions, Keaton
has successfully overseen the incubation and migration of business ideas to commercial successes.
Mr. Wallace is an Executive Director of Ziptel Limited (ASX: ZIP) where, as Co-Founder, he has overseen the acquisition of over 12 Million users onto its
core platforms. Mr. Wallace is also a seed investor and Non-Executive Director of Wangle Technologies Limited (ASX: WGL), a premier data compression
technology company.
Cameron Worth
Chief Technology Officer
Mr Worth brings over a decade of experience of developing, implementing and deploying large-scale software and technology projects within enterprise
and start-ups. He has led multiple large software and technology projects across the I.T sector for leading technology companies across international
markets. He consulted extensively in software development and cloud solutions.
14. The ABI Platform
Highlights.
Specialised IP that has
been designed and
built in collaboration
with insurance industry
specialists.
Allows operators to
maintain ownership of
customers increasing
opportunities to
re-engage and drive
further sales.
Integrates with a wide
variety of third-party
platforms including CRMs,
Payment Processors and
Marketing Automation
platforms.
Supports multi-currency
and multi-language
deployments to enable
international programs
and networks.
Supports a wide
variety of customer
engagement scenarios,
including cluster groups,
mass-market and secure
invite-only models.
Backed by 4 years of
operational maturity,
on-going product
development and
a range of support
options.
Provides tools to
allow operators to
integrate with insurers
to support complex
pricing matrices.
Supports the full
lifecycle of insurance
products including new
business on-boarding,
claims management and
renewals.
Delivers a unique
distribution model for
operators, allowing
them to support a high
volume of insurance
transactions.
16. Enterprise grade
infrastructure.
ABI uses Rackspace for its managed cloud expertise and deploys solutions to AWS, the
world’s largest cloud services provider.
As the largest provider in this space, Rackspace’s global positioning enables full
deployment of a High Availability Virtualised Environment into AWS’ global cloud
environment.
Managed security including continuous vulnerability and penetration testing and server
hardening employed throughout environment.
PCI DSS compliant infrastructure.
Zero downtime to-date (99.99% SLA).
17. Supported
deployment models.
Customer Groups & Interested Parties
Allows operators to engage with groups of customers with common insurance requirements (buying
power) and optionally supports value added services targeted at interested parties (for example,
franchisors managing compliance).
18. Supported
deployment models.
International Broker Networks
& Insurance Programs
Allows products and programs to operate
across regional and compliance boundaries,
supporting lead-broker arrangements and
network-level management whereby the
network operator can offer products to
members for distribution and manage inter-
member programs and communications.
19. Supported
deployment models.
Mass Marketing Programs
Allows operators to integrate the
platform’s live quoting environment with
public-facing websites and Apps where
customer acquisition is driven by marketing
campaigns (eg SEO/SEM, TV). This includes
the ability to interface by API or the
embedding of a simple widget. ABI is also
able to provide full product development
and support to enable new revenue streams
for operators outside the traditional
insurance industry.
20. Client Acquisition
Approaches.
B2B – Traditional
ABI Platform supports total operating requirements for traditional insurance broking and underwriting
models.
B2B – Cluster Groups / Affinity
For cluster groups, clubs and franchised businesses where members have common insurance
requirements and the group maintains an interest in the insurance compliance program ABI provides a
full suite of value-added features and enhanced customer engagement features designed to optimise
distribution within the customer silo.
B2C – General Public
ABI also supports large-scale, mass-marketed program management for the engagement of customers
through public quoting front-end facilities which can be integrated with websites and apps, supporting
simple embedding and full API-based integrations.
One of the most compelling factors for adoption of the ABI Platform is the wide
range of client acquisition and engagement models it supports, including:
21. Business Development
Update.
In Australia 37 high value distribution environments have been identified and key
stakeholders engaged, with a revenue potential in excess of $35M.
International roll-out has commenced with ABI’s WFIB New Zealand partner now fully
operational and 11 international programs with a revenue potential in excess of $4M
identified.
An additional 8 international opportunities have progressed to contractual negotiation
phase following successful onboarding of partners, with a combined revenue potential in
excess of $100M.
Since commencing its strategic ramp-up in April 2016 ABI has significantly
expanded its opportunity pipeline and successfully progressed a number of these:
24. Opportunity Highlight -
Automotive Product Distribution
Partnership.
Partnership negotiations with leading digital services provider completed
New product support for the automotive space secured.
Projected revenue in excess of $72M secured.
Path to market clear, and distribution model finalised with
roll-out target of January 2017 and rapid monetisation expected.
25. Opportunity Highlight – WFIB
International Program Roll-Out.
Opportunity Status
WFIB New Zealand Delivered, Commences Online Trading Q3 2016
WFIB Portugal & Spain Contract finalisation target date: Q4 2016
WFIB UK & Ireland Contract finalisation target date: Q4 2016
WFIB Canada Contract finalisation target date: Q4 2016
WFIB USA Contract finalisation target date: Q4 2016
New Zealand WFIB partner Rothbury has commenced trade through the
WFIB program, extending support for franchise groups across Australia
and New Zealand.
26. Contact.
www.mynfib.com.au www.mywfib.com www.abiplatform.com
E keaton.wallace@abiplatform.com
P +61 404 887 755
Keaton Wallace
Non Executive Director (Business Development)
E darryl@abiplatform.com
P +61 404 887 755
Darryl Morris JP CIP
Chief Executive Director
Cameron Worth
Chief Technology Officer
E cam@abiplatform.com
P +61 437 770 642
27. This presentation has been prepared by ABI Limited (the “Company”). It does not purport to
contain all the information that a prospective investor may require in connection with any
potential investment in the Company. You should not treat the contents of this presentation,
or any information provided in connection with it, as financial advice, financial product advice
or advice relating to legal, taxation or investment matters.
No representation or warranty (whether express or implied) is made by the Company
or any of its officers, advisers, agents or employees as to the accuracy, completeness or
reasonableness of the information, statements, opinions or matters (express or implied) arising
out of, contained in or derived from this presentation or provided in connection with it, or
any omission from this presentation, nor as to the attainability of any estimates, forecasts or
projections set out in this presentation.
This presentation is provided expressly on the basis that you will carry out your own
independent inquiries into the matters contained in the presentation and make your own
independent decisions about the affairs, financial position or prospects of the Company. The
Company reserves the right to update, amend or supplement the information at any time in its
absolute discretion (without incurring any obligation to do so).
Neither the Company, nor its related bodies corporate, officers, their advisers, agents and
employees accept any responsibility or liability to you or to any other person or entity arising
out of this presentation including pursuant to the general law (whether for negligence, under
statute or otherwise), or under the Australian Securities and Investments Commission Act
2001, Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding
provision of any Australian state or territory legislation (or the law of any similar legislation in
any other jurisdiction), or similar provision under any applicable law. Any such responsibility or
liability is, to the maximum extent permitted by law, expressly disclaimed and excluded.
Nothing in this material should be construed as either an offer to sell or a solicitation of an
offer to buy or sell securities. It does not include all available information and should not be
used in isolation as a basis to invest in the Company.
Future matters
This presentation contains reference to certain intentions, expectations, future plans, strategy
and prospects of the Company.
Those intentions, expectations, future plans, strategy and prospects may or may not be
achieved. They are based on certain assumptions, which may not be met or on which views
may differ and may be affected by known and unknown risks. The performance and operations
of the Company may be influenced by a number of factors, many of which are outside the
control of the Company. No representation or warranty, express or implied, is made by the
Company, or any of its directors, officers, employees, advisers or agents that any intentions,
expectations or plans will be achieved either totally or partially or that any particular rate of
return will be achieved.
Given the risks and uncertainties that may cause the Company’s actual future results,
performance or achievements to be materially different from those expected, planned or
intended, recipients should not place undue reliance on these intentions, expectations, future
plans, strategy and prospects. The Company does not warrant or represent that the actual
results, performance or achievements will be as expected, planned or intended.
US Disclosure
This document does not constitute any part of any offer to sell, or the solicitation of an offer
to buy, any securities in the United States or to, or for the account or benefit of any “US
person” as defined in Regulation S under the US Securities Act of 1993 (“Securities Act”). The
Company’s shares have not been, and will not be, registered under the Securities Act or the
securities laws of any state or other jurisdiction of the United States, and may not be offered
or sold in the United States or to any US person without being so registered or pursuant to an
exemption from registration including an exemption for qualified institutional buyers.
Disclaimer.
28. Sources.
Slide 4: The Digital Distribution Revolution
• Swiss Re Sigma, No 2/2014, Digital Distribution in Insurance (http://www.the-digital-insurer.com/wp-content/
uploads/2014/06/295-sigma2_2014_en.pdf)
Slide 5: Market Opportunity – Size of Market
• APRA, Intermediated General Insurance Statistics (http://www.apra.gov.au/GI/Publications/Pages/
intermediated-general-insurance-statistics.aspx)
• Swiss Re Sigma, No 2/2014, Digital Distribution in Insurance (http://www.the-digital-insurer.com/wp-content/
uploads/2014/06/295-sigma2_2014_en.pdf)
• OECD, Insurance Statistics 2014 (http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-
investment/oecd-insurance-statistics-2014_ins_stats-2014-en#.V6MDKpN97OY)
Slide 7: Fintech Stats and Chart
• Accenture, Global Fintech Investment Growth Continues in 2016 Driven by Europe and Asia, Accenture Study
Finds (https://newsroom.accenture.com/news/global-fintech-investment-growth-continues-in-2016-driven-by-
europe-and-asia-accenture-study-finds.htm)
