ConsumerOptix Executive Deck

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Transcript

1. E X E CU TIVE DE CK J u n e 2 0 1 9 CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION FRONT OFFICE INSURTECH
2. FRONT OFFICE INSURTECH WHAT IS FRONT OFFICE INSURTECH? • Consumer facing platforms that drive engagement, conversion and retention • Integrated tools for carriers, agents, brokers and advisors to drive net new business and retain existing business CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
3. FRONT OFFICE INSURETECH SOLUTIONS ACCELERATE Personalized sales media creation and delivery PERSONALIZED INTERACTIVE VIDEO One-to-one personalized and tailored content and messaging eBENEFITSIQ Personalized psychographics-driven employee benefits enrollment platform CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
4. FRONT OFFICE INSURTECH OUR IMPACT • Growing premiums • Driving commissions • Engaging, converting, and retaining insurance customers CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
5. HOW WE ARE DIFFERENT WE OFFER THE ONLY FRONT OFFICE INSURTECH PLATFORM THAT ENABLES INSURANCE ORGANIZATIONS TO ACCESS, SHARE, CREATE, CUSTOMIZE AND DELIVER B2B2C MEDIA THAT: • Personalizes video and documents • Enables on-demand personalized content • Delivers consumer content and drives benefits enrollment via consumer psychographics • Integrates with Salesforce and HubSpot CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
6. CURRE N T CLI E N T / ACTI VE TRACTI ON
7. Our consumerism strategy is driven by personalizing the customer experience. We chose ConsumerOptix because they make consumer psychographics come alive by matching employee profiles with our life, disability and worksite products. Robert Peterson State Director, Unum TRACTION CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
8. The ‘Define Your Value’ system developed by ConsumerOptix enables our top agent/advisor clients to personalize and tailor their solutions in their local market. Lisa Busenberg, Director of Advisor Retirement, MassMutual CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION TRACTION
9. Our firm implemented Accelerate & eBenefitsIQ last year and the internal and client results are measurable. ConsumerOptix understands our market. Top 50 Large Group Broker Scott McGohan CEO, McGohan Brabender CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION TRACTION
10. Customer engagement and response rates were significantly and positively impacted with the personalized insured messaging platform James and Brian deployed for American Family Insurance auto policy holders. Andy King, Direct Marketing Manager American Family Insurance 1995-2010 CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION TRACTION
11. We are delighted that ConsumerOptix has built its Accelerate and eBenefitsIQ solutions with Microsoft tools and database platform. They are an innovation leader and we look forward to growing our partnership with them in the insurtech space. Mary Olges, Managing Director, Financial Services, Microsoft Board Member, ConsumerOptix CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION TRACTION
12. With personalized interactive video, ConsumerOptix is operationalizing consumer psychographics in the employee benefits space in ways our teams at P&G, C2B and PatientBond have never imagined. Brent Walker SVP Marketing, PatientBond Former Associate Dir. of Customer Marketing, Procter & Gamble CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION TRACTION
13. WHO WE ARE Customer relationship management Founded in 2018 by James O’Hara and Brian Kipp Partners and visionaries for 25 years in personalized consumer communications and CRM platforms for leading insurance and financial services organizations including; Morgan Stanley, American Family Insurance, Bank of America, Protective Insurance, Allscripts, MassMutual, McGohan Brabender, and BlueCross BlueShield of Louisiana E X P E R T S I N : Personalized consumer engagement Consumer psychographics CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
14. WHO WE ARE ConsumerOptix Team James O’Hara – CEO / The Sales & Idea Guy A 1990 graduate of Northwestern University, James started his career with Procter & Gamble and helped automate their sales process. He later co-founded two leading CRM and personalized media firms in Chicago including 4SA, Inc. in 1993, which he sold in 2000, one year after Salesforce incorporated. James has been a technology innovator since his teens and learned from his father, Robert M. O’Hara, the Mead Corp. executive who started Mead Data Central, which sold to Reed Elsevier for $1.4B as Lexis-Nexis. Brian Kipp – President / The Tech & Idea Guy Brian holds Bachelor’s and Master’s degrees in economics from Western Illinois University, where he graduated magna cum laude. He started his career leading several key technology initiatives with the Federal Reserve Bank. He later became Vice President of Technology for one of the first CRM companies in the U.S. where he led program development efforts for ADP and Ameritech, among others. CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION As the owner of Upgrade Web Development, Ray has worked with Brian and James to develop the front end for Accelerate and eBenefitsIQ as well as our front office insurtech solutions for MassMutual and Protective Insurance. Ray Acunto Contracted ConsumerOptix Developer
15. HOW WE ARE DIFFERENT Accelerate, eBenefitsIQ and Personalized Interactive Video solve unmet market needs in five key areas: PRODUCTIVITY & EFFICIENCY Carriers, brokers, agents and advisors all struggle with complex team sales processes and the cumbersome delivery of marketing rich sales media. PROFITIBILITY Employee Benefits brokers give up 70% of their commissions to enrollment firms. In turn, ConsumerOptix delivers 70% commissions with the same engagement and participation metrics. BRAND AWARENESS Independent agents simply cannot establish brand identity using generic, carrier provided videos and pdf’s. VALUE Many front office technology platforms are one, off point solutions . . .and expensive! AGENT VALUE PROPOSITION Accelerate was born from client systems we built for Protective Insurance and MassMutual to personalize media and define agent value. MassMutual gets it; so does ConsumerOptix. CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
16. SOLUTIONS Accelerate is a platform that allows carriers, brokers, financial advisers, and independent brokers to create, personalize and deliver highly tailored consumer and customer media and materials. Account managers can now leverage templated and custom content to build mission critical customer documents and access personalized media from the digital asset library. CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
17. Group Carriers Benefits Brokers Employers Employees Individual Carriers IMOs / BGAs / RIAs / Broker Dealers Brokers / Agents / Advisors Consumers G R O U P A N D I D V I D U A L I N S U R A N C E C H A N E L D E L I V E R Y
18. Group Carrier Content Benefits Broker Content Employers Employees Individual Carrier Content IMO / BGA / RIA Broker Dealer Content Brokers / Agents Advisors Consumers ACCELERATE IN THE INSURANCE ECOSY STEM Accelerate Document Builder Accelerate Personalization Accelerate Personalization CRM & AMS Integration Brand / Theme Logos Broker / Agent Contact Info Employee / Consumer Contact Info Personalization Accelerate Document Builder ✓ Commissions ✓ Policies ✓ Claims ✓ Renewals CRM & AMS Integration
19. SOLUTIONS eBenefitsIQ is an online employee voluntary benefits enrollment platform. It was designed to increase carrier premium and broker commissions at a fraction of current cost model. It is the only personalized, self-service benefits enrollment platform which incorporates the power of employee psychographics. eBenefitsIQ reaches employees 24/7, where they are, and speaks in a way that is compatible to them and their psychographic segment. Today, eBenefitsIQ is a premier enrollment hosting partner for the second largest voluntary benefits carrier in the U.S. and our discussions with other carrier occur weekly. CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
20. SOLUTIONS Psychographics and consumer segmentation are being leveraged today by the top consumer products and healthcare marketers and communications specialists. Personalized interactive video operationalizes psychographics and ConsumerOptix is the only company in the world that is doing it any industry today. Personalized interactive video allows insurance organizations to personalize customer videos with text, voice over and graphics, and interactive controls to drive consumer engagement. PERSONALIZED VIDEO & PSYCHOGRAPHIC SEGMENTATION CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION Connecticut-based insurance marketer, The Lift Factor deploys ConsumerOptix personalized interactive video to drive insurance consumer engagement and response rates
21. TECHNOLOGY 2019 Technology, Protocols, and Security ✓ Database Server AWS RDS on Microsoft SQL Server ✓ Application API Tier developed in .NET 4.5.2 using C# ✓ Front-end developed in Angular 7 ✓ Hosted at AWS on IIS running behind an Elastic Application Load Balancer … All backups handled by AWS Backup service ✓ Built with consumers in mind: o 24/7/365 Access o Runs on any device, OS, or up-to-date browser o Security, Security, Security (Secure http with token based API authentication) CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
22. WHERE WE FIT: TODAY AND TOMORROW F R O M P R O S P E C T I N G T O E N R O L L M E N T . . . T O D A Y T O M O R R O W ? CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION Prospecting Sales Quoting Enrollment Benefits Management • Personalized scope of services media • Broker/agent/ wholesaler/advisor branding of carrier and financial solutions media • Customer email delivery • CRM engagement tracking • Personalized proposals • RFPs • Broker/agent/ wholesaler/advisor branding of carrier and financial solutions media • CRM engagement tracking • Creation of personalized poster images and personalized interactive videos at time of quote generation. • Customer email delivery • CRM engagement and tracking • Personalized, employee specific education • Simplified employee election and enrollment driven by consumer psychographics and segmentation • Automated broker and HR communications • Personalized explanation of benefits (EOB) • Benefits administration integration including payroll data transfers • Hosted carrier integration
23. PRACTICAL USES HOW CARRIERS, AGENTS AND BROKERS ARE USING CONSUMEROPTIX SOLUTIONS TODAY CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION ✓ A Brokerage General Agent (BGA) offers Accelerate to their top 8,000 independent agents to help them personalize their proposed solutions based on the customer’s actual current needs ✓ A life insurance carrier focused on individual (vs. group) benefits, uses eBenefitsIQ to leverage artificial intelligence and personalized interactive video to engage, convert an retain new and existing customers
24. PRACTICAL USES HOW CARRIERS, AGENTS AND BROKERS ARE USING CONSUMEROPTIX SOLUTIONS TODAY ✓ An independent broker uses Accelerate to personalize a life insurance carrier video or PDF with their own branding: Logo, Agency Name, Contact Name, and web address ✓ A benefits broker uses eBenefitsIQ to leverage psychographics to drive employee engagement for the group’s distributed workforce offering of Short- Term Disability, Critical Illness, and Whole Life Benefits ✓ A carrier inserts personalized interactive videos in email insurance quotations CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
25. MARKET OPPORTUNITY 30/70 BROKER COMMISSION SPLIT ON A MASSIVE COMMISSION MARKET • Our first carrier partner, Unum, paid out $1.3 Billion in broker commissions last year. • All carriers combined to pay out over $10B+ in commissions of voluntary benefit premium. • Employee benefits brokers pay enrollment firms commission at a 70/30 split. • We have approximated and expect to surpass enrollment firm engagement and participation metrics and deliver 70 commission points to the broker. CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
26. MARKET OPPORTUNITY ONE-TIME SETUP FEES, RECURRING MONTHLY LICENSING REVENUE, AND ONE-OFF CUSTOMIZATION/CONFIGURATION REVENUE • One-time setup fees: $500 - $10,000 per user group • Customization / configuration fees: $0 - $20,000 per user group • Monthly recurring subscription fees: $25 per seat per month CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
27. COMPETITION The ConsumerOptix Insurtech Platform is the only one that brings all of these and more into a single platform driven by one-to-one messaging, personalized interactive media and consumer psychographics. #1, #4, #5 Google organic search results CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION Numerous insurance technology solutions offer RFP, proposal, enrollment and digital library point solutions and many integrate with CRM platforms.
28. Use of Funds We’ve gone from startup to traction; to get to the next level, we must: • Accelerate (pun intended) our platform development to meet the additional unmet needs of our target market • Bulk up our channel partner resources to take advantage of the technology and vertical insurance market opportunities for which our solutions solve • Sell to our target market • Market to the same CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION From 28 years of experience in the CRM and personalized consumer engagement space, we intuitively understand that these are distinctly different functions and represent our CRITICAL success factors
29. InsurTech: ConsumerOptix is in the right sector at the right time: CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION Why InsurTech? “11 InsurTech Trends to Watch in 2019” -Leadsurance December 26, 2018 “With an estimated $2 billion investment going toward new insurance technologies called “InsurTech”, 2019 is going to be a disruptive year for the insurance industry. The goal of these technologies is to improve customer experiences while increasing efficiencies for insurance agencies.”
30. Most, if not all, insurers understand the need for personalization and to deliver on their digital imperatives. Technology and technology partners can help insurers garner useful insights that can be used to personalize the consumer experience. Personalized video is one example that can move you forward in relevance and customer satisfaction. Shay Alon Global Managing Director, Life and Annuity Accenture CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION Why InsurTech?
31. Capital Raise $5 Million in 18 months Round 1 (June 2019): $500,000 Round 2 (January 2020): $1,500,000 Round 3 (January 2021) $3,000,000 CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION
32. THANK YOU James O’Hara +1 (312) 953-9560 johara@consumeroptix.com www.consumeroptix.com CONFIDENTIAL: NOT TO BE REPRODUCED OR DISTRIBUTED WITHOUT PERMISSION