DFV Deutsche Familienversicherung AG · LSX:A41YH3
DFV Deutsche Familienversicherung — Equity Forum Fall Conference 2020
36 slides from DFV Deutsche Familienversicherung's conference presentation, Sep 1, 2020
Slide 1: The leading InsurTech in Europe
The leading InsurTech in Europe DFV Deutsche Familienversicherung AG FRANKFURT/MAIN | 01 September 2020 Equity Forum Fall Conference
Slide 2: The first digitalised insurer on the German market
The first digitalised insurer on the German market A worldwide leading InsurTech Mixed property and health insurance company Property insurance household insurance Listed on Frankfurt stock exchange (Prime Standard) legal expenses insurance liability insurance accident insurance 2007 F
Slide 3: DFV growth history
DFV growth history We started as a P&C insurer and developed to a fully digitalised InsurTech with an ambitious growth strategy € 200m € 125m + 98% number of employees 200 + 24% € 101m premium volume (€ m) € 70m 70 2007 2008 2012 2014 2016 2018 2019 2020 2021 2022 DFV is Focus on supplementary DFV e
Slide 4: Management team with 90 years insurance experience
Management team with 90 years insurance experience Dr. Stefan Knoll Stephan Schinnenburg Marcus Wollny Founder, CEO & CFO CSO CIO Assessor jur. Insurance salesman Health insurance business economist PhD in insurance law Career Career Career 2007 | Deutsche 2014 – 2018 | Member of Board 2015 –
Slide 5: Leading InsurTech
Leading InsurTech LULU
Slide 6: Playing in the German champions league for new business
Playing in the German champions league for new business DFV AG in the top group for customer growth in 2019(1) One of the top 3 Company Customer growth Employees Customers Foundation 95,000(2) 14,600 1,163,000 1922 German insurance 71,400 15,771 2,100,000 1890 companies 67,528(3) 122 514,000(4) 2007
Slide 7: Leading by existing business
Leading by existing business Leading almost all categories Gross premiums written in €m** 103.6 90.9 DFV AG Neodigital Element 66.5 41.1 wefox group** Ottonova Lemonade 0.06 0.03 0.7 1.0 1.9 4.25 6.6 3.6 FY 2018 FY 2019 Germany US Germany US Contracts per employee** Gross premiums written per employ
Slide 8: The first real comparison with a listed InsurTech peer
The first real comparison with a listed InsurTech peer Premium volume in €m 114.3 137.5 Customers 46,415 171,042 * * growth FY 19 – HY 20 Net income in €m -4.1 -51.1 € Valuation in €m ~330 ~3,154 * Growth in existing customers at Lemonade and new customers at DFV. The reported figures are the HY 202
Slide 9: Highly scalable multi-channel sales mix
Highly scalable multi-channel sales mix Our scalable sales channels enables planning ambitious growth New business (contracts) by product category HY 2020 Sales costs 616 1.3% Increase in 46,415 online sales 5,292 11.4% new by + 21.4% contracts compared to 40,507 HY 2019 87.3% Google, Bing, DRTV, Di
Slide 10: Why is our (online) sales so unique?
Why is our (online) sales so unique? Scalable and digital Easy and Fast transaction Simple online payment understandable products 10
Slide 11: Leading by product quality
Leading by product quality Our leading products regularly best in class DFV–SickPayCare DFV–InpatientCare DFV–Long-TermCare DFV–DentalCare 1st time 2nd time in a row 3rd time in a row 5th time in a row Fully digital product development at DFV: Simple. Reasonable. 11
Slide 12: Easy product selection via our website
Easy product selection via our website Only reloading the website takes longer 1. Enter your age 2. Select your product and tariff 12
Slide 13: Our customer portal – Simple.Reasonable.
Our customer portal – Simple.Reasonable. Customer centricity at its best Fast, uncomplicated, reliable. I am 100% satisfied. Never had any problems. Very simple and understandable for everyone. All his insurance policies under control. Fast submission of the invoice, very good service, very good com
Slide 14: Best app – and also the most popular
Best app – and also the most popular Simply the best for our customers Fast processing & simple operation I am mega satisfied with the service and everything around it. The processing is fast and also the operation via the app is super simple. I can only recommend it. 4,8 Over 48,000 4,7 Very good a
Slide 15: Easier than taking a selfie – our claim reporting via App
Easier than taking a selfie – our claim reporting via App Increasing customer satisfaction by digitalisation App 1. Take a picture 2. Confirm of the invoice „I have a Letter claim to report“ Three ways to report a claim at DFV E-mail 15
Slide 16: Leading by digitalisation
Leading by digitalisation Java- and event-based Insurance Core System We have developed a powerful IT Insurance Core System and the „Product Module Editor". With over 1.500 input options we can configure products so that the entire user interface, correspondence and contract processing are controlle
Slide 17: Cost-efficient and scalable growth thanks to our IT system
Cost-efficient and scalable growth thanks to our IT system Declining IT costs and rising customer numbers On average, our IT costs per insured risk are On average, our IT costs per insured risk are 50% cheaper than the insurance industry average lower than in the insurance industry. In the €30 cat
Slide 18: Financials
Financials 18
Slide 19: Leading by growth – Financial figures HY 2020
Leading by growth – Financial figures HY 2020 We are on track despite COVID-19 + 46,415 €114.3m + €15.4m + 28.8% new contracts premium volume new premium growth in gross volume premiums written +330% 218% €119.4m 60.5% growth in P&C stable balanced financial low claims ratio business line Solvency I
Slide 20: Investing in our growth, profitable in our core business
Investing in our growth, profitable in our core business Underwriting result according to HGB Premiums HY 2020 Premium volume to sales costs (planning) Gross written premium € 53,620,661 Share of reinsurers € -24,965,943 Net earned premiums € 28,654,718 Claim payments to customers 2:1 3:1 4:1 5:1 Gr
Slide 21: Gross premiums written increased by 28.8% in HY 2020
Gross premiums written increased by 28.8% in HY 2020 Fullfilling our promises Gross premiums written in €m New business in contracts, premiums in €m Total Supplementary health P&C Contracts Premiums 100,034 90.9 85.0 66.5 62.0 53.7 50.1 55,227 29,9 49,105 46,415 41.8 39.1 17.6 16.4 15,4 4.5 5.9 2.7
Slide 22: Full recovery of financial investments after COVID-19 shock
Full recovery of financial investments after COVID-19 shock Successful restructuring leads to increasing of financial investments Solvency ratio in % Financial investments in €m 469 131.5 122.5 119.4 104.5 314 90.1 > 300 266 218 DFV Target Corridor of 180%-220% FY 2018 HY 2019 FY 2019 HY 2020 July 2
Slide 23: Outlook – Entering a new dimension
Outlook Entering a new dimension 23
Slide 24: Solid and guaranteed growth – Our strategy to profitability
Solid and guaranteed growth – Our strategy to profitability CareFlex New risk carriers Europe P&C Health Life 24
Slide 25: CareFlex: Germany's first mover
CareFlex: Germany’s first mover Unique in Germany and Europe Normally we invest € 70,680,000 CareFlex is (12MP) to acquire 500,000 customers the first industry solution for employer- financed supplementary long-term care with a monthly premium of € 11.78 per insurance. Up to 580,000 employees workin
Slide 26: An example of strategic business planning
An example of strategic business planning The history of CareFlex Since 2012 First presentation in IPO as insurtech Implementation of CareFlex April 2018 Henkel Focus on Digitalisation of DFV IPO on 04.12.2018 January 2019 November 2019 supplementary long- term care 26
Slide 27: Founding new risk carriers
Founding new risk carriers Our milestones to broaden product range and to enter European markets Plan 2021 Our timeline Insurance Holding Staff Unit Claim settlement Entering Service Introducing European DFV All-In-Finance- markets Founding Founding P&C insurer* Founding Solution health insu
Slide 28: Outlook – Accelerated and profitable growth
Outlook – Accelerated and profitable growth Guidance Targets Mid-Term 2019 2020 2021 Targets Customers/ 514,104 570,000 1,100,000 2,000,000 Contracts € 101m >€ 125m >€ 200m € 500m Premium volume EBIT margin EBIT € -5.2m € -9m to € -11m profitable > 10% 28
Slide 29: Looking forward to your questions!
Our next IR dates: Looking forward to your questions! 21/09 Goldman Sachs/Berenberg Corporate Conference Germany 25/09 Baader Investment Dr Stefan M. Knoll Conference CEO & CFO 12/11 Quarterly statement on the 3rd quarter 2020 Your contact: Lutz Kiesewetter Head of IR & PR +49 (0)69 / 74 30 46 396 l
Slide 30: DEUTSCHE Familienversicherung
DEUTSCHE €> Familienversicherung
Slide 31: Appendix
Appendix LULU
Slide 32: Successful capital increase
Successful capital increase Despite COVID-19 crisis Shareholder structure pre capital increase Shareholder structure post capital increase 6.77% 14.28% Capital increase within one day 11.95% 23.16% 26.09% 9.56% Gross proceeds of around € 32m Pesarini Freefloat SK Beteiligungen (Dr. Knoll) Pesarini A
Slide 33: Group figures HY 2020 (IFRS)
Group figures HY 2020 (IFRS) in € thousand HY 2020 Q1 2020 FY 2019 Q3 2019 HY 2019 Q1 2019 FY 2018 New business Policies (number) 46,415 27,718 100,034 70,539 49,105 30,049 55,227 - Supplementary health insurance (number) 34,000 20,687 90,381 65,045 46,214 29,045 53,272 - Property insurance (number)
Slide 34: Premium volume increased by € 24.4m since HY 2019
Premium volume increased by € 24.4m since HY 2019 Excellent new business despite COVID-19 Premium volume in €m New business in contracts + € 24.4m 100,034 114.3 101 89.9 75.7 55,227 49,105 46,415 2018 HY 2019 2019 HY 2020 2018 HY 2019 2019 HY 2020 Henkel 34
Slide 35: Direct sales accounted for 87.3% of new business
Direct sales accounted for 87.3% of new business Outstanding performance because of our proven scalable sales channels New business (contracts) by product category HY 2020 New business (contracts) by sales channel HY 2020 679 495 350 320 1,765 134 110 2,502 2,570 616 1.3% Increase in 3,530 46,415 46
Slide 36: Well-balanced investment portfolio worth € 119.4m
Well-balanced investment portfolio worth € 119.4m Full recovery within three months – Financial investments of DFV-Multi-Asset-Fonds in € Asset classes 31.03.2020, in € In % 30.06.2020, in € In % 11.08.2020, in € In % Plan 2020, in € In % Guranteed assets 61,447,453 56 % 69,766,229 58 % 71,833,709 5
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