CompareChecker

Pre-Investment Pitch Deck for CompareChecker Car Insurance app.

Transcript

1. CompareChecker   Ade  Molajo   ade.molajo@comparechecker.com   CompareChecker  
2. What  is  CompareChecker?                      is  the  First  Comparison  Site  Price  Checker.       Think                                                      for  Car  Insurance.  
3. Problem   Price  is  a  massive  consideraBon  for  consumers  purchasing  car   insurance  online,  with  double  digit  percentage  year  on  year  hikes   not  uncommon.     Transparency  does  not  exist  as  current  soluBons  offer  different   panels  of  providers  and  different  prices  for  the  same  providers.       No  easy  way  exists  to  search  across  all  of  these  current  soluBons  to   consistently  achieve  the  best  value  for  the  consumer.     Walled  gardens  restricBng  the  movement  of  data,  lack  of  APIs  and   copyright  implicaBons  of  screenscraping  content.  
4. SoluBon   A  mobile  and  social  applicaBon  allowing  consumers  to   search  mulBple  comparison  sites  and  direct  insurers.             Fig  1  Data  flow  aggregator  model      Fig  2  Data  flow  CompareChecker  app     The  soluBon  to  the  walled  gardens  in  the  car  insurance  sector  is  not  to  scrape,   reappropriate  and  retransmit  the  content  of  the  various  players.  Instead  we  use   the  user’s  device  to  get  them  to  the  informaBon  they  want.    
5. Market  Size   24  million   18  million   Market  of  policies   Aggregator  searches   Mature  market.  Single  digit   growth.  Slump  in  PC  sales.   Mobile  will  become  more   important.   44  million   Smartphone  connec=ons   2013  –  37.8%    smartphone  usage     2016  –  65.1%  (78%  penetraBon)   smartphone  usage    
6. Product   Mobile  app  iniBally  available  on   iPhone  and  iPad.     Social  login  promotes  virality   through  usage  of  the  app.       We  have  seen  significant  use  of  social   login.       This  has  resulted  in  self-­‐propagaBon  by   users  coming  in  from  the  social  acBvity   sharing.    
7. Product   Store  data  through  familiar   data  entry  pa\erns.     Universal  app  allows  user  to   search  from  any  compaBble   mobile  device  they  own.      
8. Business  Model   Lead  genera=on  will  be  our   primary  revenue  stream.     All  the  major  comparison  sites  pay  on  a   CPA  for  a  user  generaBng  a  quote  request.     The  app  provides  a  unique  opportunity  to   increase  the  rate  at  which  this  occurs  over   a  similarly  priced  search  engine  click-­‐ through.     Incremental  revenue  streams  will  come   from  use  of  data  aggregated  from  user   behavior.        
9. Why  Now?   Browser  extension:  right   idea  –  featured  in  The   Sunday  Times,  wrong   execuBon,  poorly   developed.   Desktop  app:  right  idea  –   acquisi=on  offer,   discoverability  problem,  no   install  culture   iPad  app:  right  idea,  app   store  discoverability  good,   install  culture.  Much  lower   adopBon  than  iPhone.   Slow  update  process.   Apps:  68%  prefer  app  to   mobile  web,  but   comparison  sites  apps   are  no  more  compelling   than  their  mobile  sites.   CompareChecker  is.   Online:  comparison   sites  trumped  direct   insurer  product.   Direct:  call  centers   allowed  greater  value   to  consumer  than  in   person  brokering.   Right  idea:  Decline  in  PC  year  on  year,  mobile  device  use   soaring,  mature  comparison  site  industry  leaving  “mutual   growth  phase”  entering  “market  share  stealing  phase”.       Right  ExecuBon:  Good  discoverability  for  “Car  insurance”  search   term  and  plagorm  install  culture.  iPhone  boosted  downloads   400%.  Smart  robots  that  can  “learn”  between  update  releases.  
10. CompeBBve  Advantages               Comparison     Site     Direct     Insurer   Ease  of  Use   Only  one  UI  to  use   Individually  simple,  but  if   you  use  many,  many  UIs  to   navigate.   Similar  UI  to  any  other   site.   Time   Only  one  form  needs   to  be  filled  out.   Manual,  Bme  consuming   repeBBon  of  the  same  forms   for  each  site.  More   significant  with  mobile   device.   The  least  efficient  use   of  Bme  as  least  amount   of  info  for  the  effort.   Money   Get  the  best  value   offered  by  many.   Promises  no  difference  to  go   direct;  however,  some   insurers  admit  be\er  prices   on  different  sites.   Completely  isolated  so   value  is  only  evident   aker  shopping  around.  
11. Customer  AcquisiBon   Mobile  app  adverBsing  –  Achievable  app  install  acquisiBon  cost   less  than  conservaBve  projected  average  revenue  per  install.     Social  sharing  –  Social  login  users  automaBcally  share  acBvity.   This  brings  in  more  users.   Increase  word-­‐of-­‐mouth   Publish  arBcles  regularly  –  journalists  have  been  advising   consumers  on  our  use  case  for  years.     App  Store  SEO  –  Compelling  product  has  resulted  in  strong   posiBon  for  relevant  search  terms  in  the  Apple  App  store  in  the   beta.  
12. The  Team         Ade  Molajo  –  Founder     BA  Finance,  AccounBng  and   Management  –  University  of   Nolngham  Business  School     Strong  technical  skills  and   understanding  of  the  technologies   underpinning  CompareChecker.     Built  version  of  CompareChecker   currently  available.  
13. Exits   Comparison  Sites  CompareChecker  is  an  ‘Instagram’  to   their  ‘Facebook’.     Insurance  Companies  e.g.  big  players  without  any   ownership  in  the  comparison  sector     Banks  e.g.firms  that  have  shown  interest  in  the   comparison  sector  but  were  too  late  to  market  first  Bme   around.     Tech  firms  
14. Raising:  £x00,000   Goals  for  Investment     •  Develop  engineering  team   •  Invest  in  scalability   •  Increase  markeBng  and  PR  efforts   Founder  Investment   (already  invested)       £37,000   (£x  in  form  of  debt)  
15. Contact     Ade  Molajo   ade.molajo@comparechecker.com