Lloyd`s Technology Day - inex24 - London ▪ 2013/12/03.

Lloyd`s Technology Day- inex24 -

London ▪ 2013/12/03

Lloyd`s Technology Day Seite 2

Communication, cooperation and coordination ≠ collaboration

Leo Denise 1999

„Unlike communication, collaboration is not about exchanging information. It is about using information to create something new. Unlike coordination, collaboration seeks divergent insight and spontaneity, not structural harmony. And unlike cooperation , collaboration thrives on differences and requires the spark of dissent.“

2013/12/03

Lloyd`s Technology Day

The global insurance market has to meet new challenges

Seite 3

Counterparty RiskGeneral uncertaintyRisk minimizationOptimal diversification

Purchase via web platformsReduction of effortsReduction in work loadMore suppliers – more competition

ComplianceIncreasing pressure from regulatory authorities and internal auditSeamless documentation and transparencyReduction in liability

is the first integrated IT

solution

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inex24 at a glance

Seite 4

Web-based collaboration platform for the corporate insurance sector

Global, direct networking between companies, direct insurers and re-insurers

Overdue and contemporary tool for all market participants

Benefits for all parties, e. g. process optimization, reduction in manual work load, reduction of efforts, assurance of compliance

Direct insurers

Intermediaries

Re-insurersCapital market

Companies

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inex24 is a tool for all market participants

Seite 5

Key competencies

Provision of a web platform

Technical support

Coordination of translation

projects

Companies

Intermediaries

Re-insurers

Direct insurers Capital

market

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inex24 is a multi-level trading platform

Seite 6

3

3

2

Companies use inex24 to place their risks with direct insurers

Direct insurers could cede insurance policies into the re-insurance market

Via inex24, direct insurers and re-insurers place risks on the capital market

1

2

3

Companies

Re-insurersCapital market

Direct insurers

1

Intermediaries

2013/12/03


Why inex24…the market view…

Seite 7

Could we afford to neglect breath-taking IT-developments?

IT follows strategy or could IT impact on generic strategy designs conversely?

Traditional ways of dealing consume too many manual resources and create inefficient redundancies on all sides of the market participants.

Efficient ways to reach out to global markets.

Process standardization does not mean to standardize individual insurance products.

Increasing demanding re compliance rules, transparency standards, speed of proccessing.

Create new distribution channels.

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inex24 features a modular structure

Seite 8

Transaction-related communication and

documentation

Info database risk carriers & intermediaries

Info database policyholders

Reporting Manager

Evaluation matrix

Wording / Topics Manager

Portfolio Designer

Risk data(structured and via

documents indata room)

Real-timeTrading Desk

LayerManager

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Three options to use inex24

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Commercial and corporate business

Submissions governed by public law

Highly individual and taylor made complex corporate business

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Simple process flow on inex24

Seite 10

Provision of basic fact sheet

Individual process steps could be skipped.

Brokers are free to create their submission standard.

All quotation will be shown in form of a synopsis.

Submission template

21

Risk related documents

Invitation of insurers Negotiation

543

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inex24 generates substantial benefits for all market participants…

Seite 11

Seamless and resilient logging of all events

Neutral and audit-proof processing platform for all participants

Immediately noticeable simplification of processes and reduction in work burden

Significant reductions of efforts and costs in all areas

No in-house IT development and support requirements („software as a service“ solution)

Compliance safeguarded in an integrated manner

Use of state-of-the-art technology without changing customary and proven processes

Direct access to all market participants around the globe

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... and benefits for everymarket participant in particular

Seite 12

CompaniesSolution for fulfilling the increasing requirements by regulatory authorities and internal audit Seamless documentation and transparencyReduction of the liability risk

Risk carriersImmediately applicable, resource-saving distribution channel for expanding or developing new markets all around the worldOptimization of distribution control and controlling

IntermediariesSignificant productivity increase in all areasStructured management of placement strategy and processes per risk carrierClear differentiation from competitors regarding customer loyalty or acquisition of new customers

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inex24 development partners

Seite 13

Policyholders

IntermediariesIT Development

Risk carriers

2013/12/03


The evolution of inex24

Seite 14

March 2010 to present

Release 1.0 01.07.11

Release 1.5 15.03.12

Release 1.7 28.02.13

2012Proof of market

2013Establishment

2010Development

2011Proof of concept

01.01.11

professional development

together with our pilot project partners

- more than 2.000 users - about 700 quotations

Release 2.0 23.07.13

3 versions: - inex24 - inex24.pro - inex24.OR

activation of the platform

start of programming(with agile software

development / scrum method)

- more than 1.000 users

- about 100 quotations

2013/12/03

Development into an attractive marketplace


selected partner

over 900 user

approx. 70 tender

estimated volume: 100 Mio €

more than 60 insurer

approx. 2.300 user

more than 600 tender

over 2.000 quotations

2011 2012 2013

050

100150200250

casultypropertyenginieering linestransport others

over 100 trainings

on-the-spot support

advancement ofinex24.pro

inex24 in Austria

implementation of inex24 & inex24.OR

further increse of users

rollout in Austria pilot customer: ÖBB

3 successful releases

2013/12/03


Lessons learnt…

Seite 16

The strategic affirmation of inex and the operational execution are two sides of the same coin.

Discipline in handling the system is key….while email communication is the implicit structured chaos a collaboration platform is marked by a predetermined process flow.

Leaving the comfort zone….a huge investment in trainings and time.

Usability should always overrule IT driven functionalities…even if it´s hard to compromise…

Revolutionary changes require evolutionary steps.

2013/12/03


Outlook into the near future…

inex24 as enabler for E2E processing

Seamless process flow between inex24 and client´s IT systems

ACORD Standard

Creation of one e-file containing the complete tender documentation

Collaboration of international insurance markets

Improve market shares in D-A-CH region and UK

Starting Business Consulting for corporate insurers

International markets

End-2-end process

E-file

Business Consulting

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http://www.inex24.de/de/assets/inex24/downloads/press/AC0712_inex24.pdf

Strategy of inex24


Permanent establishment of inex24 in the insurance market 1

Positioning of inex24 within msg systems as a leading IT consulting company in the industrial insurance market

2

Development of E2E capabilities in the industrial insurance market?3

2013/12/03


Your contact

Seite 19

inex24 AG Robert-Bürkle-Straße 1D-85737 Ismaning bei München

Tel.: +49 (0) 89 - 969 981 4 - 24 00Email: [email protected]

2013/12/03

Lloyd`s Technology Day - inex24 - London ▪ 2013/12/03.

Documents

inex24 lloyd

s technology day inex24

s technology day seite

market participants

insurers overdue

global insurance market

glance lloyd

inex24the market view