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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. Leo Denise 1999

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Lloyd`s Technology Day - inex24 -

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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. Threeoptionstouse inex24 • Highly individual andtaylormadecomplexcorporatebusiness • Submissionsgovernedbypubliclaw • Commercial andcorporatebusiness Lloyd`s Technology Day

  10. 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

  11. 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

  12. ... 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

  13. inex24 developmentpartners • Policyholders • IT Development • Intermediaries Riskcarriers Lloyd`s Technology Day

  14. 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

  15. 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

  16. 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

  17. 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

  18. 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

  19. Yourcontact • inex24 AG Robert-Bürkle-Straße 1D-85737 Ismaning bei München • Tel.: +49 (0) 89 - 969 981 4 - 24 00 • Email: info@inex24.com Lloyd`s Technology Day

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