How commercial insurers can benefit from innovations in personal insurance

Xuber Keynote Presentation

13 June 2013

Xuber

John Racher Head of Product Strategy

@JR_Xuber

2

@JR_Xuber @xubersocial

3

@JR_Xuber @xubersocial

4

Digital will look different in five years and unrecognisable in ten

456

156

48 36 33 24 21

0

50

100

150

200

250

300

350

400

450

500

Radio TV Internet iPod iPhone Facebook iPad

Months for user count to reach 50 million

According to Market Analysts Celent the next wave of technology adoption will be months and not years. Donald Light, Celent Director of Americas Property & Casualty practice at ACORD LOMA Conference 2013

5

What we want now… To contact you anywhere, anytime, on any device… …and for you to know who we are when we do

6

Personal Lines market first to adopt…

• Simple internet quoting

• Online comparison websites

• Online self service policy & claims

• Customer centric interactions

• Collaboration

• Mobile access to your data

• Telematics

• Data analytics & big data

• Fraud detection

• Social media sales & marketing

• Resolution

Simples

7

@JR_Xuber @xubersocial

8

@JR_Xuber @xubersocial

9

Big Data - but what’s the BIG deal?

10

Telematics – won’t drive you crazy

11

@JR_Xuber @xubersocial

12

Telematics – wider than private motor?

13

• Telematics is a general term that refers to any device which “merges telecommunications and informatics” – Personal Motor GPS based “Black Box”

• Obvious adoption in the Commercial space would be Fleet motor

• Equally possible Marine vessel tracking, collision avoidance, Cargo theft prevention

13

Collaboration: time to get together

14

@JR_Xuber @xubersocial

15

Collaboration – can we work together?

• Personal lines policies can be

managed online including claim

reporting and status Customers

interact with the Carrier at every

stage

• Commercial carriers are starting to

adopt this with collaboration

between Carrier, loss adjusters,

assessors and lawyers.

• Underwriter is often involved with

claims process. Need for seamless

cross team collaboration to improve

customer experience

16

Go the extra mile

Think resolution not

just compensation

17

@JR_Xuber @xubersocial

18

Think resolution not just compensation

• Personal lines claims service

provides assistance to claimant

– locksmiths, carpenters,

replacement car or nearest

repair garage

• Commercial lines could offer

disaster recovery services,

industry expert contacts and

access to medical professionals

19

@JR_Xuber @xubersocial

20

@xubersocial

xuber.com