Charles Taylor InsureTech - InsurTech Innovation Award 2022

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Charles Taylor InsureTech – Introduces InHub
500+ 150+
100%
5+
Technology
specialists
Global
Insurance clients
COE
London, Manila, Mexico
City, Buenos Aires,
Chennai
Products
designed by
insurance
experts
Tailored service
backed by
corporate Insurance
focused
© 2022 Charles Taylor InsureTech Limited
Introducing our latest innovation InHub
InHub is a cloud-based SaaS capability offering the
insurance community the latest digital technology,
legacy modernisation and integrated insurance
services all in one place.

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We use our specialist expertise to
understand the causes and impact
of claims, reduce their risk, and
deliver better outcomes for the
global insurance market.
We use our powerful technology to deliver
customer-driven outcomes and help global
insurance businesses drive change
through the delivery of market-leading
software and SaaS solutions, including
through our new cloud connected
technology platform, InHub.
We offer trusted end-to-end
management of mutual insurers,
captives, life insurers and other
insurance programmes for
capital providers on a long-term
partnership basis.
Part of the Charles Taylor Group

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The Key Challenges in Insurance
What does this mean in terms of key focus areas?
Maximising
margin
Cost
optimisation
Top-line
growth
Revenue
generation
Gaining access to new markets
Offering customers new
products / services
Increasing the speed of launching
new products / services
Intelligent up-selling and cross-
selling to existing customers
Reducing the friction of
doing business
Standing out from the competition
Straight Through Processing and
Direct to customer (B2C)
Reducing customer acquisition costs
Increasing productivity of
employees
Standardisation of process,
governance and systems
Reducing claims (including fraud)
Optimising costs
Robust
governance
Regulatory
compliance
GDPR
Climate risk Risk management
Legislation Regulation
Systems and controls

4. Digital distribution &
marketplace
Intelligent [automated]
decision-making
New IT-enabled
products / services
Multi-channel
customer engagement
Connected customers
Interactive &
real-time reporting
Maximising
Margin
Cost
Optimisation
Top-line
Growth
Revenue
Generation
Open
architecture
Central &
standardised data
Democratised
data
Integration
(internal & external)
Automation
Consolidation & rationalisation of
core systems and processes
Systems that scale &
flex with the business
Security and governance
controls built into solution
Multi-platform, web-based
and mobile solutions
4
The Drivers For Change
How does technology enable these business objectives?

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The Charles Taylor InsureTech Solution - What is InHub?
Solution
Orchestration
Insurance
Marketplace
Digital engagement
Product Rating
Claims Handling
Policy Admin for Brokers
Policy Admin for Insurers
Bordereaux processing
BPM and DMS
InHub Capabilities
Machine Learning
Emotion Detection
RPA
Geo-satellite
Virtual inspections
Partners & Insurtechs
TPA
Adjusting
Inspections
Investigation/Fraud
Investment Management
Insurance Services
LIMOSS
Data Enrichment
Payment Gateway
Market
Clients can plug in their
own legacy systems
Clients
Marketplace of best-in-class
insurance solutions integrating
products and services
InHub
InHub
Marketplace of
solutions
Tech facts
• SaaS platform
• APIfied and multi-tenant
• Cloud native
Customer lifetime to date spend in GBP

6. InHub Capabilities At a Glance
Digital Journey Creation
Policy Administration Broking
Policy Administration Carrier
Policy Enhancer
Reinsurance Management
Distribution Channels
Product Engine
Governance Monitoring
Document Management
API Management
Workflow
Claims Optimisation
Underwriting Maximisation
Data Acceleration
Bordereaux Consolidation
Fraud Prevention
Front End
Claims &
Underwriting
Core
Data &
Support

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A Case Study: Global Carrier
Policy Administration Carriers
 A large global insurer
 Acquisitions left the business
with many satellite applications
 This led to inefficiencies and the
inability to launch new products
• Mixture of approaches based on
each country’s needs
• One country kept legacy system for
ERP only and added INSIS core
• One country replaced 3 legacy cores
with a single INSIS implementation
• Different countries considered
implementing different 3rd party
alternatives
• Guidewire, OIPA
• Significant cost and efficiency
savings
• Standardisation of process and
software across the different
countries
• This enabled better customer service
and operations
The customer problem
The alternatives
What we did
The benefits

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A Case Study: Global Retail Broker
Policy Administration Broking + Product Engine + Digital Journey Creation capabilities
 Multiple satellite applications
across 4 countries in Latin
America
 Need for standardisation and
central management
 Need to improve efficiency
 Need for a digital customer
experience
• Implemented a digital core and
digital front office to support the
digital transformation
• Centralised digital core implemented
standardisation
• Siloed in-house solutions per
region
• Digital support for critical business
process, reducing errors
• Increased post-sale customer
service
• Forward-thinking vision of a digital
organisation for increased market
share and competitive advantage
The customer problem
The alternatives
What we did
The benefits

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A Case Study: Bank Assurance
Digital Journey Creation + Product Engine + Carrier Integrations
 Large financial organisation
selling insurance as a
complimentary offering
 Different systems for open
market, causing inconsistencies
in process and data
 Spreadsheets for credit-related
businesses, increasing admin
and risk of error
• Unified and centralised all sources of
key data in our platform for
consistency
• Automated configurations for the
entire portfolio of offerings
• Branch management was
centralised using integrations
• Provided key management reporting
• Extract information from each
system and consolidate it into an
internally managed database
• Invest in developing in-house
• Increased speed to market for
product lines
• Reduced the risk of noncompliance
• Reduced the cost of administering
25 BankAssurance products
• Increased efficiency for teams
through unified reports and
centralised information store
The customer problem
The alternatives
What we did
The benefits

10. 10
A Case Study: Global Carrier
Claims Optimisation
 A large global carrier with
multiple claims departments –
marine, speciality, aviation
 Inefficiencies due to rekeying and
using multiple systems to handle
claims
 Lacked capability in their
systems for MI, authority
management, claims workflow
and storage of limits
• Conducted a successful pilot with
the client
• Implemented CTI claims capability
as a fully SaaS offering
• Expanding existing systems in
house
• Other 3rd party vendors
considered: CTI were selected as
the best of breed option
 ECF write back removed rekeying
 Improved claims handling
efficiency by 70%
 Further developments allowed the
same carrier to continue with
its rapid growth plans without the
need to budget for additional spend
within the claims management
teams
The customer problem
The alternatives
What we did
The benefits

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CLIENT-
CENTRIC
CONNECTED
CUSTOMER
EXPERIENCES
TECHNOLOGY-BASED
ECOSYSTEM WITH AN
INSURANCE
PERSPECTIVE
REDUCTION IN
ERRORS
MORE
PROFITABLE
RISKS
IDENTIFIES
SCENARIOS
RELATING TO FRAUD
CLOUD MIGRATION &
MANAGED SERVICES
InHub
Business Benefits
InHub – Want to know more?
Get a free trial: ctinsuretech.com/en/about-us/contact-us/
Call for more information: +44 (0) 20 3320 8888
Ask a question via email: insuretech@charlestaylor.com
Learn more: ctinsuretech.com/en/solutions

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Delivers a connected customer
experience by integrating a
suite of insurance SaaS
products
Provides truly end-to-end
integrated experiences through
market collaboration and
innovation
Futureproofs a customer’s
technology stack and enables
clients to exploit new
technologies seamlessly
Offers total business process
outsourcing solutions covering an
array of insurance services
100+ years’ experience in
insurance management services
to provide customised solutions to
enhance client and customer
experience
We want to be known for helping insurance companies focus on measurable outcomes not just technology that is what makes us different
Legacy
Modernisation
InHub
Integrated
Insurance
Services
Provides end-to-end cloud-
based technology support that
helps customers deliver better
results
Charles Taylor – Our Complete Offerings

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