This document discusses lessons for effective collaboration between startups and corporations from the insurtech world. It provides examples of corporations partnering with startups through pilots and frameworks to ensure success. Models for collaboration include observing startups, collaborating on projects, and startups getting funded by corporations. The insurtech ecosystem is seeing billions invested in startups that can reinvent insurance buying, manage risk better, and leverage sharing economies. Collaboration helps corporations access innovation and startups access markets.

1. EFFECTIVE COLLABORATION
LESSONS FROM THE INSURTECH WORLD
Sabine VanderLinden
Managing Director
Startupbootcamp InsurTech

2. Sabine VanderLinden
18 years of expertise
Managing Director of
@SabineVdL
@sbcInsurTech
Sabine VanderLinden
Top 20 InsurTech Influencer

3. Berlin
Singapore
Mexico
New York
Barcelona
Internet of Things &
Data
FinTech
Amsterdam
E-Commerce / Smart Cities
Copenhagen
Mobile
Smart Transportation &
Digital Health
FinTech
We ACCELERATE corporate & startup success
London
FinTech & InsurTech
& Internet of Things
Miami
Digital Health
Mumbai
FinTech
FinTech
Istanbul
MENA Region
FinTech + InsurTech IoT (data)EcommerceTransportationSmart City Digital Health
…
15 programs globally
11 cities (growing)
150+ partners
1,000+ investors
3,000+ members

4. Since 2010, 350+ Startupbootcamp teams from 30+ classes
have raised over €150 million with a combined valuation of
more than €650 million
400
Startups
35
Cohorts
5
Exits
73%
Funded
81%
Active
Delivering recognizable results
Hands on mentorship and support – pilots – investment
100 to 150 startups to be graduated per year

5. Global PartnersInsurTech Partners
Working with innovative brands as partners

6. TRUST IS AT THE CORE OF EVERY RELATIONSHIP
Only 27% of consumers trust their insurance providers whilst
less than 50% actually turning to them for advice

7. RECONNECTING WITH CUSTOMERS

8. “There are many InsurTech startups doing a great job out there!”

9. Model 1: Understand The
Problem at Hand

10. Today, many corporations interact with the start-up
community and do things they had never done before
1) Changing customer behaviors
2) Speed of digitization
3) Exploding product innovation
Why?

11.  No Red-Tape
 No Cubicle
 No suit
 Own schedule
 Autonomy
 Flexibility

12. “Many corporate leaders understand that
innovation comes from inside and
outside the walls of their
corporation. That’s why many big
companies want to engage with emerging
ones.”

13. The InsurTech Ecosystem – 6 Key Trends
Product
Sales and
Marketing
Distribution Underwriting Claims
Customer
Service
Meet changing
customer needs
with new offering
Enhance
interactions &
build trusted
relationships
Initiate strategic
relationships
EcosystemCustomer
Leverage data &
analytics to
generate risk
insights
New
approaches
to underwrite
risk &
predict loss
Sophisticated
operational
capabilities
Source: PwC Analysis, Startupbootcamp
InsurTech & PwC Data
Insurers were asked in
which areas they saw the
most important impact to
their business from start-
ups & Start-ups were
categorised accordingly

14. Focus areas for startups based on applications
1 ENHANCE INTERACTIONS AND BUILD TRUSTED RELATIONSHIPS 35%
2 ENABLE THE BUSINESS WITH SOPHISTICATED OPERATIONAL CAPABILITIES 21%
3 MEET CHANGING CUSTOMER NEEDS WITH NEW OFFERINGS 20%
4 LEVERAGE EXISTING DATA & ANALYTICS TO GENERATE DEEP RISK INSIGHTS 15%
5 LEVERAGE BROADER ECOSYSTEMS 6%
6 DELIVER NEW APPROACHES TO UNDERWRITE RISK AND PREDICT LOSS 3%

15. Insurers’ point of view
4 ENHANCE INTERACTIONS AND BUILD TRUSTED RELATIONSHIPS 45%
5 ENABLE THE BUSINESS WITH SOPHISTICATED OPERATIONAL CAPABILITIES 38%
1 MEET CHANGING CUSTOMER NEEDS WITH NEW OFFERINGS 75%
2 LEVERAGE EXISTING DATA & ANALYTICS TO GENERATE DEEP RISK INSIGHTS 65%
6 LEVERAGE BROADER ECOSYSTEMS 27%
3 DELIVER NEW APPROACHES TO UNDERWRITE RISK AND PREDICT LOSS 54%

16. 1. Meet changing customer
needs with new offering
Introduction of flexible and
personalized offerings
 Micro-insurance (9%)
 Peer to peer insurance (7%)
 Sharing economies
 Lifestyle based insurance
 Robo-advice
These ventures are challenging traditional business models
Source: PwC Analysis, Startupbootcamp
InsurTech & PwC Data

17. 2. Leverage existing data and
analytics
Search for more meaningful insights
from data sets to increase the
sophistication of analyses and
decision making
 Connected car / telematics
 Connected Health
 Remote data capture & analysis
 Quantification of emerging risks
93% of customers would welcome a
device that monitor and keep their
home safe
Source: PwC Analysis, Startupbootcamp
InsurTech & PwC Data

18. 4. Enhance interactions and
build trusted relationships
Leverage Artificial Intelligence,
Learning Machines, Robo-advisors
to deliver unique customer
experiences
 Omni-channel experience
 Aggregation and comparison
 Targeted engagement
 Consolidation of cover
 Education & engagement
Brolly
Source: PwC Analysis, Startupbootcamp
InsurTech & PwC Data

19. Model 2: Partner

20. From OBSERVING to
COLLABORATING with start-ups on
real projects
However, often companies’ structures prevent
projects to materialize or move swiftly!

21. Startup world
Uncertain
Unforeseen risks
Highly dynamic
Corporate
world
Process heavy
Rules & boundaries
Constrained

22. Designing the right innovation framework
CHECKLIST ONE
1. COULD YOU DESIGN A SMALL, BUT WELL DEFINED AND CONTAINED, PILOT WITH
CLEAR SET OF OUTCOMES?
2. WHAT IS THE MINIMUM SET OF STAKEHOLDERS WHO COULD SIGN-OFF THE PILOT?
3. CAN THE CLIENT FUND THE PILOT?
4. WHAT ARE THE MINIMUM CONTRACTUAL TERMS NEEDED FOR THE PILOT?
5. HOW CAN YOU GO AROUND/ MINIMISE INTERNAL RED TAPE OR HURDLE THAT CAN
PREVENT THE PILOT TO MOVE FORWARD?
6. WHAT WILL SUCCESS MEAN? HOW WILL YOU MEASURE IT?
7. IF THE PILOT IS SUCCESSFUL, HOW WILL YOU ENGAGE IN A LARGER ROLL-OUT?

23. Improving your likelihood of success
1. CLEARLY DEFINE THE OUTCOMES YOU WANT TO ACHEIVE
2. IDENTIFY AN INTERNAL LIAISON/ AN ADVOCATE WHO WILL
MANAGE YOU WITHIN THE PROJECT ORGANISATION
3. ENSURE STRONG BUY-IN FROM SENIOR EXECUTIVES WHO MUST
SEE BENEFITS FROM THE PROJECT
4. DEFINE CLEAR METRICS AND AN INCENTIVE SYSTEM WHERE ALL
PARTICIPANTS ARE REWARDED FOR TRYING AND LEARNING
CHECKLIST TWO

24. Source: PwC UK, InsurTech Research, July 2016
How do corporates partner?

25. you tube video: https://www.youtube.com/watch?v=pXuLWnWminI

26. Model 3: Get funded

27. $4.74Bn invested in InsurTech across 470 start-ups
deals since 2011...
This increased six fold over the past three years
$1.4Bn invested across 126 deals
between Q1 and Q3 2016
Source: CB Insights, FT.com, PwC

28. “100s global investors are pouring
billions of dollars into InsurTech start-
ups to give insurers a tech makeover”
 Andreessen Horowitz
 Intel Capital
 Sequoia Capital
 Google Ventures
 Balderton Capital
 Canaan Partners
 American Family Ventures
 MassMutual Ventures
 ACE Group Holding
 Y Combinator
 .....
Source: CB Insights, Startupbootcamp Analysis

29. Investors are looking for start-ups able to:
 Reinvent the way people buy insurance
 Transform the way insurers manage risk
 Leverage sharing economy-led business models

30. The most imminent effects of
disruption will be felt in the banking
sector; however, the greatest impact
of disruption is likely to be felt in the
insurance sector
“
“
Source: WEF, The Future of Financial Services, June 2015

31. Over $1Bn committed … ... to head off disruptive threats
Smart Home Security
Heath MonitoringFinancial Mgt Cyber Security
Digital BrokerData & Analytics Digital Broker
Business InsuranceWellness Insights
Source: Startupboocamp InsurTech Research, July 2016

32. KEY QUESTIONS FOR YOU:
What will you do differently to ease engagement?
What will your priority be? What will your pilot be?
What metrics will you choose to drive value?

33. THANK YOU
For more information, you can reach me on: sabine@startupbootcamp.org
@SabineVdL
@sbcInsurTech
Sabine VanderLinden