2020年全球保險科技展望 - Insiders（英文版）（30頁）.pdf

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1、Insiders. Insurtech Global Outlook 2020 provides an in-depth analysis of the innovation within the insurance industry. Considering incumbents, insurtechs and TechGiants as the main actors, but also giving importance to other features such as investors, governments or emerged and developed markets. I

2、t provides a clear but detailed framework on trends, challenges and opportunities in the current industry revolution. The reports provides a detailed investigation on almost 1000 insurtechs entities and more than 2000 deals from 76 insurers investment arms, detailing investments and partnerships, ne

3、w projects and alliances, as well as the emergence of exponential technologies in the business models. We use this in-depth knowledge to explain our vision on how people and companies are understanding this new way of interaction within the different industry actors. This years edition goes a step f

4、urther, not only highlighting key findings but also adding a new key variables to provide a broader understanding on the industry disruption: the impact of the outliers and the non-outliers, predicting successful startups far from total funding amount, or the importance of ecosystems and the fragmen

5、tation of the value chain within the insurance field. As in previous editions, NTT DATA and everis asked leading insurers to participate in the InsurTech survey. In this years edition, 44 leading insurance companies in 12 different countries across Europe, Asia, North and South America. The outcome

6、of these surveys provide in-depth insights on the key domains of the insurance industry disruption, enabling the reader to leverage lessons learned and define actions to adress this risks and take advantage of the opportunities mentioned. This publication of the Insurtech Global Outlook was created

7、based on inttrend, an Artificial Intelligence and data-driven platform developed by everis and NTT DATA. A regularly updated edition as well as an interactive version of the report is available at URL. We would like to thank all the participants and contributors that made it possible to create this

8、InsurTech global outlook. We are proud to share this valuable industry insights, confirming NTT DATA as a Trusted Global Innovator. Bruno Abril Partner Global Head of Insurance everis Our fourth edition of the Insurtech Global Outlook represents a significant change in the way we understand the tran

9、sformation of the insurance industry, in terms of insurtechs, as well as TechGiants and other actors that are breaking into the sector. This year, we have expanded the approach, including new aspects such as analysis by regions and emerging markets, a greater attention to insurtech but also in inves

10、tors, a special focus on Outliers, liquid ecosystems (a framework that allows us to explain our vision on how people and organizations are understanding a new way of connecting and interacting with the different actors in their environment, which also includes insurers and where there are risks and

11、opportunities), an in-depth analysis of how the commitment to invest in insurance-related startups is causing the fragmentation of the value chain, and with a special chapter regarding the prediction of successful startups within the insurance field. To provide this new insight and deep data analysi

12、s, we leveraged inttrend, an AI signal that technology is not mature enough to disrupt this area. Giant Venture Capital firms such as Berkshire Hathaway and DST Global are leading important investments. Initiatives like Drive Easy allow them to compete with insurance companies in one of the fastest

13、growing uses of technologies based on data in insurance so far. Medical Boosting in the Insurtech in the USA. 04 3637Chapter 04 Medicare Boosting the Insurtechs in the USAInsiders Insurtech Global Outlook 2020 New ways to ensure peoples health in constantly changing huge markets like the American or

14、 Chinese. The insurtech companies of the Health line of business are the ones that raised the most investment in the entire period analyzed. In fact, the two companies that received the most funding were Oscar and Bright Health, both American. Together, they achieved a total of $2.3B, which represen

15、ts almost 13% of the total investment in the last 10 years. If the investment received by Clover (the fourth in the ranking) is also taken into account, a total of $3.2B is reached, that is, 18% of the total. This data indicates that there is a lot of interest in this type of companies in a market l

16、ike the Amerian, due among other factors to the impact of the Medicare program, which provides users medical coverage in a more efficient way. If we analyze this data only in 2019, we see how only two companies, Bright Health and Clover, received 22% of the total investment, which represents 55% of

17、the top 5 in this year. Healthy Living. 70% of the investment in startups of this ecosystem (a total of 69 companies) in the last year was concentrated by four companies: Bright Health, Clover, Waterdrop and Singlife. In the case of the US, their respective significant investments affirm how investo

18、rs are visualizing a better healthcare experience to meet patients demands. Both Asian startups Waterdrop and Singlife are betting hard on the disruption of the Health insurance industry by offering a digital experience powered by smart technologies. New health startups like Nadia, Hey Healthcare an

19、d Osana emerged during 2019. TechGiants, throught investments, in-house projects and collaborations with other ecosystems players, are facilitating users to fulfilling their Healthcare needs in a more integrated experience. Their technological capabilities and their networking power make them a rele

20、vant part of the ecosystem to process and analyze big quantities of data for offering personalized Healthcare services and to prevent and predict risks in a more accurate way. Also, their participation in a wide range of Health-related projects like biotechnology, healthy eating, genomics, fertility

21、, healthy living or research for the cure of multiple diseases is key to invigorate this ecosystem. $500M$635M$145M How Insurtechs are reshaping the Healthy Living ecosystem How American TechGiants are reshaping the Healthy Living ecosystem? Keep an eye on Keep an eye on 3839Chapter 04 Medicare Boos

22、ting the Insurtechs in the USAInsiders Insurtech Global Outlook 2020 How TechGiants are reshaping the Healthy Living ecosystem. Alphabet, through its investments, is exploring areas such as biotechnology, healthy eating, genomics, fertility, healthy living or research for the cure of multiple diseas

23、es. GV, previously Google Ventures, has invested in Oscar (one of the most important insurtechs worldwide). Alphabet now leads the investment in Oscars last round (474 million), and the head of the YouTube platform is part of its board of directors. Alphabet has done important investments in Verily

24、(also known as Google Life Science) to improve prevention of diseases and also in Calico, a company specialized in research of medical solutions. They are also investing in Fitbit (Wearables), Verily (life-science research), 23andMe (genomics) and Doctor on Demand (telemedicine). Most invested start

25、ups of our study by Alphabet 2010-2019 Impact/relevance of exponential technologies. 21 (47,75)13 (29,5%)10 (22,7%)22 (50%) Expected disruption in Health How do you think disruption is going to evolve in each business line? Product Development Distribution 132 startups; 60 lead investors in 32 signi

26、ficative startups Lead investors in the region Most active by times of appearence in roundsSignificative by rounds amount Global Insurers Dubai Dubai 4849Chapter 05 Emerging Markets for Leading EcosystemsInsiders Insurtech Global Outlook 2020 The most invested insurtech in Asia in 2019, Waterdrop, i

27、s backed by Tencent. 12,84% of investment (2019)Asia (2010 - 2019) $3.6B / 20% 132 startups / 15% In 2019, the funds received by the Asian insurtechs represented 12,84% while in the period 2010-2019 the investment represented 20% of the total. (Includes China, Hong Kong, India, Singapore, UAE, Indon

28、esia, Israel, Malaysia, South Korea and Philipines) 30M 130M 65M 23M 25M50M 18,8M 218,5M41,9M70M China Knotions Research YunQuNaDuobaoyu Hong Kong Singapore India India Singapore China Hong Kong Most representative insurtech startups and lead investors: Asia Comparative of investments in 2019 worldw

29、ide VS Asia $645,20M$6335M 2019 Conclusions. China and Southeast Asia count with different businesses compared to Indian and its main focus is in healthcare. For instance, Singlife offers critical illness insurance and wealth management, focusing on a different service and business model. Bowtie is

30、already offering its services through the VHIS (Voluntary Heath insurance program), Hong Kong Food and Health Bureau programs to improve the healthcare in the region. Also Ant Fianacial (an Alibaba affiliate) launched in 2019 an extension of its online healthcare platform Xiang Hu Bao for people ove

31、r 60, same model as Clover in the US, accounting 18% of the total population. China & Southeast Asia In case of Africa, European insurtech companies such as BIMA or Carepay found an interesting opportunity to attend unserved markets with the new micro-insurance approach. Insurers also found the oppo

32、rtunity to operate and expand their presence in these markets. Africa The wave of urbanization in the emerging markets and the record speed of technology adoption seems to be to perfect storm to attract new insurance business models and investments from TechGiants, relevant insurance companies and c

33、apital firms, creating the perfect scenario for leading the new ecosystems. Emerging markets Indian insurtechs focused on Distribution are using technology, that empower the whole industry by reaching the large potential Indian customer base, to explore the market. These companies attracted large fu

34、nds by TechGiants that vision the region as an opportunity to strengthen their presence in the market. Indian insurtechs Predicting Successful Startups. 06 5253Chapter 06 Predicting Successful StartupsInsiders Insurtech Global Outlook 2020 Data ExtractionData Analysis Data Modeling & Patterns The wh

35、ole study is based on the total funding amount as the key variable to identify relevant startups, technologies or business models. With this variable, we identified an important bias: a reduced number of insurtechs concentrates the majority of the funding in the whole period. Predicting successful s

36、tartups is an experiment in which the key variable to identify relevant startups, technologies or business models is not the total funding amount. We defined the “exit” of a startup as the boolean criteria of success and have used a machine learning algorithm to identify the key variables to meet th

37、is success. Understanding the exit as the criteria of success allows us to identify relevant startups, technologies or business models regardless their total funding amount or maturity. Our secret is in the large amount of data available. Startups, funding rounds, investors, Weve selected the BFSI s

38、ector from Crunchbase with 73.000 startups and 5.000 exits. Our strategy is to understand their evolution and behavior in the different stages of growth until the startups exits to identify the key variables of success. Our goal is not making a prediction about which companies are going to be succes

39、sfu,l but to find out which of them meets the standards for success. Part of our solution is to use Machine Learning algorithms. There are efficient for searching complex patterns in data, which helps us recognize companies with potential for success. Insurtech Results Data & Machine Learning: Our w

40、ork. Extract dataData selectionData cleaningFeature engineering ModelingExperiment resultsInsurtech Companies, Funding Rounds, Acquisitions, Investors. Select the context of the study, such as regions, where there are more companies. Remove duplicate values, detect and remove Outliers, handle empty

41、values. 01 02 03 04 05 06 07 Create new variables that provide relevant information for the models. Select ML algorithms for model training and optimization. Analyze the results and find out what features have been important for the models. Apply the models for the insurtech samples and get conclusi

42、ons. Data & Machine Learning: Our work. 5455Chapter 06 Predicting Successful StartupsInsiders Insurtech Global Outlook 2020 Experiments: our results. What do we evaluate? True Positive Rate (TPR) Successful companies that have been classified as successful. False Positive Rate (FPR) Unsuccessful com

43、panies that have not been classified as successful. The best results are achieved with a Random Forest: The algorithm predicts the exit of the startups that finally achieve the exit, with an accuracy of the 91% 01 FPRTPR 91%4%CrunchBase Results 02 Experiments: our results. Applying the algorithm in

44、the sample. It identifies the key variables of those startups that achieve their exits. Investor count, CB rank, total funding, or the seed round or the time among rounds are the top ranked variables. 0.00 Relative importance 0.010.020.030.040.050.060.070.08 Investor_count Rank Total_funding_usd See

45、d Lending and investments Rank_round_0 Raised_amount_usd Money_round_0 Inv_venture_capital Diff_time Time_round_1 Money_round_1 Payments Series_a Rank_round_1 Inv_country_code Inv_rank Series_unknown Software Inv_company Information Technology Real Estate Inv_Other Inv_private_equite_frm Angel Inter

46、net services Time_round_2 Data and Analytics Commerce and Shopping Inv_startup_competition 5657Chapter 06 Predicting Successful StartupsInsiders Insurtech Global Outlook 2020 Experiments: our results. Applying the algorithm in our insurtech sample. It labelled as unsuccessful the following companies

47、 in their early stages. But models are able to recognize patterns of success in these unsuccessful companies (because of their early stages). Unsuccessful companies predicted as successful (Seed Round) Unsuccessful companies predicted as successful (Series A) nBanks Urbanavtic True Balance The Zebra

48、 Telematic Smart Mimic Smart Drivinc Seguro. Vc PreparedHealth NXM LABS INC. Kairos IoT KATSANA Holdings Sdn Bhd JetClosing HomeZada Givesurance FloodMapp Fixt Extraordinary Re Embroker Easy Claims Collision Management AMODO 250K 200K 150K 100K 50K 0 CB Bank Seed Round TouchCare SmartPay Solutions Root Insurance Propel OK Car Insurance Embroker CoverHound Copatient, Inc. CarVi Bunker Bayzat BIMA 250K 200K 150K 100K 50K 0 Serie A CB Bank