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Lloyd`s Technology Day - inex24 -. London ▪ 2013/12/03. Communication, cooperation a nd c oordination ≠ c ollaboration. Leo Denise 1999

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Lloyd s technology day inex24

Lloyd`s Technology Day- inex24 -

London ▪ 2013/12/03


Communication cooperation a nd c oordination c ollaboration

Communication, cooperationandcoordination ≠ 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.“

Lloyd`s Technology Day


The global insurance market has to meet new challenges

The global insurancemarkethastomeetnewchallenges

  • Counterparty Risk

    • General uncertainty

    • Riskminimization

    • Optimal diversification

  • Compliance

    • Increasingpressurefromregulatoryauthoritiesandinternalaudit

    • Seamlessdocumentationandtransparency

    • Reduction in liability

isthefirstintegrated IT solution

  • Purchase via web platforms

    • Reductionofefforts

    • Reduction in workload

    • More suppliers – morecompetition

Lloyd`s Technology Day


I nex24 at a glance

inex24 at a glance

  • Web-basedcollaborationplatformforthecorporateinsurancesector

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

  • Overdueandcontemporarytoolfor all marketparticipants

  • Benefitsfor all parties, e. g. processoptimization, reduction in manualworkload, reductionofefforts, assurance of compliance

Companies

Re-insurers

Capital market

Directinsurers

Intermediaries

Lloyd`s Technology Day


Inex24 is a tool for all market participants

inex24 is a toolfor all marketparticipants

  • Key competencies

    • Provision of a web platform

    • Technical support

    • Coordinationoftranslationprojects

Direct

insurers

Capital

market

Re-insurers

Companies

Intermediaries

Lloyd`s Technology Day


Inex24 is a multi level trading platform

inex24 is a multi-level tradingplatform

Re-insurers

Capital market

Companies

Intermediaries

1

1

3

3

3

2

2

Directinsurers

  • Companies use inex24 toplacetheirriskswithdirectinsurers

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

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

Lloyd`s Technology Day


Why inex24 the market view

Why inex24…themarketview…

  • Couldweaffordtoneglectbreath-taking IT-developments?

  • IT followsstrategyorcould IT impact on genericstrategydesignsconversely?

  • Traditional waysofdealingconsumetoomanymanualresourcesandcreateinefficientredundancies on all sidesofthemarketparticipants.

  • Efficientwaystoreach out to global markets.

  • Processstandardizationdoes not meantostandardize individual insuranceproducts.

  • Increasingdemandingrecompliancerules, transparencystandards, speedofproccessing.

  • Create newdistributionchannels.

Lloyd`s Technology Day


Inex24 features a modular structure

inex24 features a modular structure

Transaction-related communication and documentation

Risk data

(structured and via documents in

data room)

Info database

risk carriers & intermediaries

Real-timeTrading Desk

Info database policyholders

LayerManager

Reporting Manager

Portfolio Designer

Evaluation matrix

Wording / Topics Manager

Lloyd`s Technology Day


Three options to use inex24

Threeoptionstouse inex24

  • Highly individual andtaylormadecomplexcorporatebusiness

  • Submissionsgovernedbypubliclaw

  • Commercial andcorporatebusiness

Lloyd`s Technology Day


Simple process flow on inex24

Simple processflow on inex24

1

2

3

4

5

Provision ofbasicfactsheet

Submission template

Riskrelateddocuments

Negotiation

Invitation ofinsurers

  • Individual process steps could be skipped.

  • Brokers are free to create their submission standard.

  • All quotation will be shown in form of a synopsis.

Lloyd`s Technology Day


Inex24 generates substantial benefits for all market participants

inex24 generates substantial benefitsfor all marketparticipants…

  • Neutral and audit-proofprocessingplatformfor all participants

Seamlessandresilientloggingof all events

No in-house IT developmentandsupportrequirements („softwareas a service“ solution)

Compliance safeguarded in an integratedmanner

Useofstate-of-the-art technologywithoutchangingcustomaryandprovenprocesses

Immediatelynoticeablesimplificationofprocessesandreduction in workburden

Directaccessto all marketparticipantsaroundtheglobe

Significantreductionsofeffortsandcosts in all areas

Lloyd`s Technology Day


And benefits for every market participant in particular

... and benefits for everymarket participant in particular

  • Companies

    • Solution forfulfillingtheincreasingrequirementsbyregulatoryauthoritiesandinternalaudit

    • Seamlessdocumentationandtransparency

    • Reductionoftheliabilityrisk

  • Riskcarriers

    • Immediatelyapplicable, resource-savingdistributionchannelforexpandingordevelopingnewmarkets all aroundtheworld

    • Optimizationofdistributioncontrolandcontrolling

  • Intermediaries

    • Significantproductivityincrease in all areas

    • Structured managementofplacementstrategyandprocesses per riskcarrier

    • Clear differentiationfromcompetitorsregardingcustomerloyaltyoracquisitionofnewcustomers

Lloyd`s Technology Day


Inex24 development partners

inex24 developmentpartners

  • Policyholders

  • IT Development

  • Intermediaries

Riskcarriers

Lloyd`s Technology Day


The evolution of inex24

The evolution of inex24

2010

Development

2011

Proof of concept

2012Proof of market

2013Establishment

3 versions:

- inex24

- inex24.pro

- inex24.OR

- more than 2.000 users

- about 700 quotations

- more than 1.000 users

- about 100 quotations

activation of the platform

start of programming

(with agile software development /

scrum method)

Release 2.0

23.07.13

March 2010

topresent

professional development together with our pilot project partners

Release 1.7

28.02.13

Release 1.5

15.03.12

Release 1.0

01.07.11

01.01.11

Lloyd`s Technology Day


Development into an attractive marketplace

Development into an attractive marketplace

2011

2012

2013

  • 3 successful releases

  • over 100 trainings

approx. 2.300 user

implementation of inex24 & inex24.OR

more than 60 insurer

selected partner

advancement of

inex24.pro

over 900 user

inex24 in Austria

approx. 70 tender

over 2.000 quotations

further increse of users

more than 600 tender

estimated volume: 100 Mio €

  • rollout in Austria

  • pilot customer: ÖBB

  • on-the-spot support

Lloyd`s Technology Day


Lessons learnt

Lessonslearnt…

  • The strategicaffirmationofinexandthe operational executionaretwosidesofthe same coin.

  • Discipline in handlingthesystemiskey….while email communicationistheimplicitstructuredchaos a collaborationplatformismarkedby a predeterminedprocessflow.

  • Leavingthecomfortzone….a hugeinvestment in trainingsand time.

  • Usabilityshouldalwaysoverrule IT drivenfunctionalities…evenifit´shardtocompromise…

  • Revolutionarychangesrequireevolutionarysteps.

Lloyd`s Technology Day


Outlook into the near future

Outlook into the near future…

End-2-end process

  • 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

  • E-file

    International markets

    Business Consulting

    Lloyd`s Technology Day


    Strategy of inex24

    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

    Lloyd`s Technology Day


    Your contact

    Yourcontact

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

      • Tel.: +49 (0) 89 - 969 981 4 - 24 00

      • Email: [email protected]

    Lloyd`s Technology Day


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