3. 3
Discussion Agenda
1. Introductory Remarks from Kobi Bendelak, CEO, InsurTech Israel
2. Presentations
• Simon Phipps, Founder TDI
• Kobi Bendelak, Founder InsurTech Israel
• Tomer Rubinshtein, CMO, Head of Marketing, Digital and Innovation, Migdal Insurance Company
• Romi Stein, CEO & Co-founder, Open Legacy
3. Q&A / Panel Discussion
4. TDI updates
TDI Academy – learning for the digital age
5. 5
How to participate
How to participate:
If you have a question please type into the Q&A area
If you have a comment please type into the chat area
Session format:
The moderator will use a combination of their own questions and those
from the audience
TDI Academy – learning for the digital age
6. 6
Intro to Global InsurTech Industry
Simon Phipps
Founder, The Digital Insurer
TDI Academy – learning for the digital age
7. 7
Dealflow
Source: WTW / CB Insights 4Q19 Quarterly InsurTech Insights Briefing, Jan 20
TDI Academy – learning for the digital age
11. 11
InsurTech Landscape – Geographic view
TDI Academy – learning for the digital age
North America
Europe
Asia & NZ
Africa
12. 12
InsurTech Landscape – Model view
TDI Academy – learning for the digital age
Global Europe AsiaIsrael
Value Chain
Innovations
New Business
Models
13. 13
InsurTech Landscape – Category view
TDI Academy – learning for the digital age
Global
Europe Asia
Israel
14. 14
What a difference a ¼ makes….
INSURERS
• NB sales fallen markedly across the board
• Prospect of significant reductions in investment income
• More established players are back-book supported, but with more legacy so less agile and able to adapt
• Dependency on offline
• Stand-alone / lack of integration
• Most thinking short-term / tactical wins…and re-visiting potential for more Direct (beyond Personal Lines)
• Curtailing discretionary spend
• Fire-fighting in context of remote-working / BCP implementations
• BUT Insurance Execs should to be accelerating their digital transformation efforts now, not reducing them
TDI Academy – learning for the digital age
15. 15
What a difference a ¼ makes….
TDI Academy – learning for the digital age
“TIPPING POINT”
LaggardsLate MajorityEarly MajorityEarly AdoptersInnovators
2020/21 post-crisis
Remains static pre & post crisis with tactical focus
Consumer
Expectations
Insurer
Readiness
WideningGap
2020 pre-crisis
Digital-first Learning &
Development has a critical
role to play in increasing
awareness of, and
enthusiasm for, digital
adoption across the
business
TDI PoV
Industry Warning
Digital Tipping Point is
approaching Insurers
faster than expected
Executive teams must
urgently accelerate
transformation efforts
16. 16
Outlook for InsurTechs
TDI Academy – learning for the digital age
• Previously – ‘the decade insurers get serious’
• Now – ‘yep, but challenging next 6-12months’
• Capital becoming increasingly scarce
• Insurer discretionary spend reviews / reductions
• Inflight PoCs will be scrutinised for relative priority
• More focus and pressure on quick results, challenging labs and innovation centres to do more, quickly, with less
• BUT insurers will still need help with 3 primary needs, for many now more than ever
• increase sales
• reduce unit costs
• stay compliant
• So there will be winners and losers…
17. 17
Being one of the winners - Tips
TDI Academy – learning for the digital age
• Regular dialogue with investors; shore-up capital position; down-round if needed; anticipate tough 6-12mths
• Explore cost-effective ways to maintain visibility and connectivity remotely
• eg TDI’s InsurTech Directory and Tech Corporate Membership!
• Work out which insurers have money AND clear needs you can help with
• Established with back-books
• Well-funded newer players
• Find ways to PUNCH THROUGH on why they should spend with you, and spend now rather than wait until
next year
• if necessary, pivot proposition to crisis-induced short-term needs resulting from pandemic eg remote-
working
• remember insurers 3 primary needs: increase sales / reduce unit costs / stay compliant
• this is the time they should be accelerating digital transformation efforts – use TDI’s PoV as a way of
getting them to sit-up and listen
• Keep safe, smiling & hustling…and remember what you’re in it for!
TDIINSURTECHDirectory
Theworld’sinsurtechdatabase
18. 18
Snap Poll 1 – tell us what you think!
Q. Post Covid what do you think the future for startup InsurTechs will
be?
Response options:
1. Stronger as digital adoption will accelerate
2. About the same as faster adoption will be balanced by flight to larger
companies
3. Not as bright as insurers will be more cautious on selecting smaller
partners
TDI Academy – learning for the digital age
19. 19
Overview of InsurTech in Israel
Kobi Bendelak
CEO, InsurTech Israel
TDI Academy – learning for the digital age
22. 22
Insurance Perspective
TDI Academy – learning for the digital age
Tomer Rubinshtein
CMO, Head of Marketing, Digital and Innovation
Migdal Insurance Company
27. OpenLegacy- Digital to the core
Speed, Agility, Productivity and Cost Reduction
www.openlegacy.com
28. ESB / SOA Architecture
API Gateway
On-prem/Legacy 1
Facade
System
On-prem/Legacy 2
Facade
System
On-prem/Legacy 3
Facade
System
On-prem/Legacy 4
Facade
System
On-prem/Legacy 5
Facade
System
SAP Oracle DB2
CIC
S
AS400
API Authorizations API Access CTL API Management
Proprietary Connector
Messaging
Orchestration Flows
Brokering
Data Validation Mapping Data Validation Mapping Data Validation Mapping
JSON Modeling and Validations
Proprietary Connector Proprietary Connector
Resources Supporting:
Design
Programmers
Testing
Security
Networking
QA/QC
Admin Support
Governance
Tandem Resources
Tuxedo Resources
Cobol Resources
RPG Resources
Management
…………………………
ESB / SOA
Architecture
Traditional ESB/SOA
ArchitectureChannels
2
8
29. Channels
On-prem/Legacy 1
Facade
System
On-prem/Legacy 2
Facade
System
On-prem/Legacy 3
Facade
System
On-prem/Legacy 4
Facade
System
On-prem/Legacy 5
Facade
System
ESB / SOA
Architecture
Proprietary Connector
SAP Oracle DB2
CIC
S
AS400
The Traditional approach – from A to B in weeks or months
Messaging
Orchestration Flows
Brokering
Data Validation Mapping Data Validation Mapping Data Validation Mapping
JSON Modeling and Validations
API Authorizations API Access CTL API Management
API Gateway
Proprietary Connector Proprietary Connector
A
B
2
9
30. API Gateway
API Authorizations API Access CTL API Management
API Contract
Independent
Microservice
SDK
On-prem/Legacy 1 On-prem/Legacy 2 On-prem/Legacy 3 On-prem/Legacy 4 On-prem/Legacy 5Legacy Systems
Innovation
⧟ Innovation through entire stack
⧟ Automated microservices
creation/connectors
⧟ Deployable APIs in days or weeks
OPEN LEGACY CONNECTORS:
• ENVIRONMENTS - Programming Languages e.g.
IBM Z/os, IBMi, Tandem etc. UX/UI, e.g. COBOL,
RPG
• APPLICATIONS – e.g. SAP, HOGAN, Finastra
• MIDDLEWARE/WEBSERVICES – e.g. MQ, Tuxedo
• DATABASES/STORED PROCEDURES – e.g.
Oracle, DB2, JDBC
• DESIGN TIME PARSERS – e.g. XML, SQL, JSON,
Swagger
Channels
OpenLegacy
Approach
Microservices
3
0
31. Channels
On-prem/Legacy 1 On-prem/Legacy 2 On-prem/Legacy 3 On-prem/Legacy 4 SAPLegacy Systems
Innovation
⧟ Innovation through entire stack
⧟ Automated API creation/connectors
⧟ Deployable APIs in days or weeks
Microservices
API Contract
Independent
Microservices
SDK
The OpenLegacy approach – from A to B in hours or days
A
B
3
1
32. OpenLegacy Platform Impact
20x
faster API creation
75%
lower cost per API for
the lifecycle
5x
API latency
improvement
Cut digital transformation project
time in
3
2
Deputy CIO Ayalon
Insurance
33. 33
33
Q. How challenging are your legacy modernization initiatives within the
process of your digital transformation?
Response options:
1. Not at all- no legacy challenges
2. Some concerns but we are addressing them
3. Some concerns for a possible risk
4. Major risk
TDI Academy – learning for the digital age
Snap Poll 2 – tell us what you think!
35. 35
Snap Poll 3 – tell us what you think!
Q. What would you like to know more about most from
Israel?
Response options:
1. InsurTechs looking to expand outside Israel
2. InsurTech pitches / presentations by categories
3. Insurer use cases and case studies
TDI Academy – learning for the digital age
37. 37
TDI Corporate Members
Contact us if you would like further information on our Corporate Membership Plans
TDI Academy – learning for the digital age
38. 38
TDI Knowledge Pyramid
Certificate in Digital Insurance (CDI)
Online certificate
Associate Digital Insurer (ADI)
“mini-MBA” and business qualification
Essentials - Knowledge Portal & Community
Opportunities for all to participate in digital insurance
Executive Digital
Insurer (EDI)
Learning & coaching for
leadership teams
“Ensuring the right level of digital
insurance learning is provided to
the right people at the right time,
at the right cost and in the right
way”
https://www.the-digital-insurer.com/tdi-academy/
40. 40
ADI Programme – course lessons
1.1 The 4th Industrial Revolution
1.2 Our connected world
1.3 The power of Social
1.4 Changing consumer behaviour
1.5 More change coming
1.6 Why data is King
1.7 Cloud crushes costs
1.8 Insurance Re-Booted
2.1 Cloud
2.2 RPA, Machine Learning & AI
2.3 Blockchain
2.4 IoT
2.5 Chat & Voice
2.6 Immersive Technologies
2.7 APIs & Microservices
2.8 Tech Architecture best practices
4.1 Sales tools for agents
4.2 Underwriting – Life & Health
4.3 Underwriting – P&C
4.4 Product Development
4.5 Service & Administration
4.6 Claims – Life & Health
4.7 Claims – P&C
4.8 implementing value chain
innovations
5.1 Platforms & Ecosystems
5.2 Microinsurance
5.3 On-demand & connected
insurance
5.4 Comparison Sites
5.5 Peer-to-Peer
5.6 Health & Wellness
5.7 Commercial
5.8 Building new digital business
models
6.1 Data led marketing
6.2 Direct digital marketing
6.3 digital marketing for advisors
(o2O)
6.4 Power of content
6.5 Omni sales & servicing
6.6 Customer lifetime value &
customer advocacy
6.7 UX & CX
6.8 Out-of-industry use cases
7.1 Why Strategy beats execution
7.2 Regulations and ethics in a digital world
7.3 Transforming the old vs building the new
7.4. Partnership, Investing and Acquisition strategies in a digital world
7.5 AGILE & LEAN basics
7.6 Change Management as a discipline
7.7 Cultural change for a digital world - Digital as DNA
7.8 How to succeed when most transformations fail
3.1 The Power of Data
3.2 Python basics
3.3 Python intermediate
3.4 Data visualization & example
tools
3.5 Machine learning (+ a little bit of
deep learning)
3.6 D&A use cases in P&C
3.7 D&A use cases in Life & Health
3.8 Predictive Modelling
TDI Academy – learning for the digital age
41. 41
Participant Feedback on ADI
- what they like & learn
“Good introduction and overview to
the topic, very precise with
materials and quotes from various
sources”
“Lessons are broken into bite-sized
chunks”
“Was easy to understand even for
non- native English speaker like
me”
“Data and videos are mind blowing”
“The materials are easily
understandable and could quite match
with our daily work in the insurance
company”“This was nicely paced. Speaker
was very knowledgeable and was
able to explain the lessons clearly”
“I find all reference materials
(articles and videos) very helpful
and relevant”
“Love the real-life examples”
“This course allows me to build the
fundamental knowledge. I am glad to
have this opportunity”
Average Lesson
Rating (out of 10)
Net Promoter
Score (NPS)
% who learnt a lot or a
significant amount
% who consolidated
8.6 +53% 73% 24%
TDI Academy – learning for the digital age
ADI Differentiators
1. Digital First not digital
only nor face-to-face only
2. Insurance relevant
3. Outward looking
4. Constantly refreshed
5. More than knowledge and
learning
42. 42
TDI Updates
TDI Academy – learning for the digital age
https://www.the-digital-insurer.com/event/the-digital-insurer-webinar-coronavirus-in-a-
connected-and-digital-world-exploring-the-implications-for-the-insurance-industry/
43. 43
Feedback please!
Three ways
At end of webinar using survey
When you receive the recording link
To TDI / InsurTech Israel individually
44. 44
Contact Details
Hugh Terry hugh.terry@the-digital-insurer.com
Kobi Bendelak kobi@insurtechil.com
Simon Phipps simon.phipps@the-digital-insurer.com
Tomer Rubinshtein tomerr@migdal.co.il
Romi Stein romi.s@openlegacy.com
TDI Academy – learning for the digital age