This document discusses new business models emerging in the insurance industry due to innovations in areas like the Internet of Things (IoT), data analytics, artificial intelligence, and connected devices. It notes that these trends are impacting different types of insurance like home, auto, health and commercial insurance by changing risk models, roles, policies, and customer interactions. The document also outlines challenges in areas like privacy, security, technology adoption, regulations and managing large volumes of data.

1. New Insurance Business Models

2. 2© 2017 Kollabio, Inc. All rights reserved.
Ashok Nare
Founder & CEO
Kollabio, Inc.
Technologist and Entrepreneur with over 20 years of hands-on, leadership and
executive experience in building consumer facing and enterprise solutions, and
leading high performance teams in multiple verticals. Worked as CTO for two
startups prior to starting Kollabio.
Key Areas of Expertise
Digital Health & IoT
Digital Strategy & Transformation
Cloud Architecture & DevOps
Agile Systems Engineering & Delivery
Industries
Healthcare
Public Sector
Transportation
Kollabio, Inc.
Kollabio is a Digital Solutions firm with a focus on building connected solutions
using Wearables and IoT. Currently working on a Connected Digital Health
platform called Health360.

3. 3© 2017 Kollabio, Inc. All rights reserved.
26 B $117 B
$4 T -
$11 T
200 B
# of “Things”
connected by 2020
(Source: Cisco, Gartner,
McKinsey, Intel….)
Healthcare IoT market by
2020.
(Source: Mind Commerce Report by
MarketResearch.com)
Predicted annual economic
impact of IoT by 2025
(Source: McKinsey)
Internet of Things – In Numbers

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Innovations in IoT/Smart Sensors are
gradually reshaping the places we work,
live and play (Homes, buildings,
workplaces and cities)…
Sensors Connectivity Analytics

5. 5© 2017 Kollabio, Inc. All rights reserved.
IoT And The Smart Sensor Ecosystem.
Smarter SelfSmart HomesSmart MobilitySmart Workplaces
Smart Communities
& Cities
Heart Rate, Blood
Pressure, Activity,
Sleep, Nutrition,
Mood, Weight, etc.Motion, Presence,
Temp, Humidity,
Air Quality,
Water Quality
Lighting,
Location Tracking,
Weather Patterns,
Geofencing, Traffic
Sensors and Connected Devices
Wearables&Bio-sensors

6. 6© 2017 Kollabio, Inc. All rights reserved.
Technologies Solutions
Wearables & Bio-Sensors
Genomics
AI/Machine Learning
Smart Sensors/IoT
Mobile Devices & Apps
Data Analytics Connected Cars
Smart Cities
Connected Homes
Smart Buildings
Remote Monitoring
Connected Workplaces
Blockchain
Digital Health
Technology Driven Evolution

7. 7© 2017 Kollabio, Inc. All rights reserved.
The Customer and
Customer Experience
Expectations have
Changed and
Continue to Evolve
Customer Driven Evolution

8. 8© 2017 Kollabio, Inc. All rights reserved.
….and are creating new
business models and
opportunities for
insurance providers
Internet of Things
(IoT)
Data
Analytics
AI & Intelligent
Automation
Multiple Trends Are
Converging…
Blockchain
Connected Cars

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Impact on Insurance Market
Home Auto Health Commercial
………
Home, Auto, Health, Life, General Liability, P & C and Other Insurance Products
Smart Homes Connected Cars Digital Health Smart Buildings &
Workplaces

10. 10© 2017 Kollabio, Inc. All rights reserved.
Impact on Insurance Market
Changes in Insurance Risk
Models
Changing role from
Reactive to
Proactive/Preventative
Contextualized and
Personalized Policies
Increased interaction with
the Customer
Opportunity for New and
Gap Insurance Products
Disruption through New
Entrants and InsurTech
Startups

11. 11© 2017 Kollabio, Inc. All rights reserved.
Business Technology
Digital Transformation Brings
Business and Technology together and
create better experiences for people
+
Better Customer Experiences Through
Digital Transformation

12. 12© 2017 Kollabio, Inc. All rights reserved.
Business Functions Impacted
Business Models
Policy
Administration
Claims
Processing
P2P Insurance
Cyber Risk Insurance
Sharing Economy Insurance
Personalized Policies
Assisted/Augmented Reality
Processing of Sensor Data
Increased Cust. Engagement
Processing of Sensor Data
Use of Drones for analysis
Use of AI for Processing
Underwriting
New Risk Models
Sensor Data Risk Assessment
Aggregation of Data
Customer Facing Internal
Customer
Engagement
Omni-Channel Experience
Augmented Reality
AI Driven Engagement
Org. Structure
Operational Models

13. 13© 2017 Kollabio, Inc. All rights reserved.
Digital Transformation Model
IoT Strategy &
Roadmap
Build an IoT Strategy & Incremental Roadmap with Clear Prioritization
and Motivated Leadership
Organization &
Capabilities
Platform &
Partnerships
Differentiated
Experiences
1
2
3
4
Build Critical Capabilities and Organization Structure Required
To Rapidly Scale for IoT. Recruit New Skills. Build an Agile and
DevOps based Engineering Culture
Build (or Partner with) a Digital Platform to provide the
capabilities for Sensor Integration, Data Collection and Processing, and
Advanced Analytics. Build Key Industry and Ecosystem Partnerships to scale
Transform Core Business, Identify Opportunities & Threats, Focus on
Customer Experiences. Rethink Existing Products/Models and Innovate
New Revenue Streams

14. 14© 2017 Kollabio, Inc. All rights reserved.
Examples.
Progressive Snapshot
Use of Telematics/Usage based
Insurance
Liberty Mutual
Partnership with Nest/ Reduction in
Premiums
John Hancock
Partnership with Vitality/ Fitbits for
travel and other rewards
Erie Insurance
Use of Drones to speed up Claims
process
Oscar Insurance
Partnership with MisFit/ Amazon.com
credit and other rewards
American Family Insurance
Partnership with ring/ Up to 5%
proactive protection discount

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Challenges Remain.
Privacy and Security
• Information security
• De-identification where applicable
• Potential for unintentional inferences and economic
decision making
• Consumers should have control over their data and
decide who sees it
Digital Adoption
• Awareness of technology
• Training and education for both consumers and
care providers
• Digital solutions that are designed for the target
user base
Technology Maturity
• Ability to detect small changes in
heart rhythms while separating
out the noise and motion that
happens inside the vehicle
• Need for standards to enable
different “things” to work with
each other seamlessly
Regulations
• Reimbursements and reward
models for digital health
interventions are still in
progress
• Industry needs to catch up
with innovation
The Data Deluge
• Making sense of the raw data
• Provide the right level of detail for
decision making
• Improve the quality and accuracy
of data collected

16. 16
hello@kollabio.com