DFV Deutsche Familienversicherung AG · LSX:A41YH3
DFV Deutsche Familienversicherung — Deutsche Familienversicherung — DFV Equity Forum Summer Summit 2020
37 slides from DFV Deutsche Familienversicherung's conference presentation, 2020
Slide 1: Deutsche Familienversicherung
Deutsche Familienversicherung Europe’s only listed Insurtech An investment that pays off
Slide 2: Why invest in DFV
Why invest in DFV re
Slide 3: What makes us unique
What makes us unique 1. Answer: The company is undervalued 2. Answer: Rising profitability in the next years 3
Slide 4: Who are we
Who are we – Europe’s only listed Insurtech 4
Slide 5: 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 6: We are leading the category
We are leading the category There are a lot of competitors on the German Insurtech market. But no other insurance company is as digitalised and mature as we are. To be rather than appear 6 = insurance companies
Slide 7: What makes us unique
What makes us unique – Scalable business model, best products, product innovation and successful market entry 7
Slide 8: What makes us unique
What makes us unique Fully digitalised Best products and product innovation Top position in supplementary health insurance Strong growth Inventor and co-leader of the first industry solution for employer-financed supplementary long-term care insurance (CareFlex) 8
Slide 9: Fully digitalised
Fully digitalised Everything is processed digitally thanks to our in-house developed digital Java-based real time working Insurance Core System. € 200 million 200 number of € 101 million employees € 70 million 70 cross premium volume (€ million) 2007 2008 2012 2014 2016 2018 2019 2020 2021 2022 DFV
Slide 10: Best products
Best products Confirmation of our product quality by Stiftung Warentest, the most well known, semi official, testing formation in Germany. We achieved the development of ‘very good’ digital products in 2019 with only 122 employees and we became test winner of Stiftung Warentest test in the tariffs:
Slide 11: Product innovation and successful market entry
Product innovation and successful market entry: Product development to market readiness – Successful market entry On 14.05.2019 we introduced pet health insurance. It covers all risks for dog and cat owners, in the unfavorable event of pet illness. We sell our pet health insurance through various di
Slide 12: Top position in supplementary health insurance and long-term care insurance
Top position in supplementary health insurance and long-term care insurance Even among well established German competitors DFV AG in the top group for customer growth in 2019(1) Company Customer growth Employees Customer Foundation 95,000(2) 14,600 1,163,000 1922 71,400 15,771 2,100,000 1890 67,528
Slide 13: Strong growth – our targets 2021
Strong growth – our targets 2021 Customers growth Premium volume in € million Market share in % 1,100,000 200 10 + 570,000 + 80,000,000 + 100% 120 530,000 5 4 2 2020 2021 2020 2021 2020 2021 2020 2021 Dental Care Long-term Care 13
Slide 14: Inventor and co-leader of the first industry solution: CareFlex
Inventor and co-leader of the first industry solution for employer- financed supplementary long-term care insurance: CareFlex First industry solution in company health insurance & first consortium to implement a nationwide employer- financed supplementary long-term care The consortium offers: What d
Slide 15: Why can we accelerate growth
Why can we accelerate growth – Sales & market potential 15
Slide 16: Market potential at it's best
Market potential at it’s best We use our superior digital insurance core system for customer management and sales analytics to develop our unique sales strategy. Consequently we follow a multi channel sales and distribution approach. An additional market potential is available in international marke
Slide 17: Scalable multi-channel sales
Scalable multi-channel sales Online – Website App Portal Alexa Written or by phone electronic / digital conventional 17
Slide 18: Our multi-channel sales mix provides a solid foundation for growth
Our multi-channel sales mix provides a solid foundation for our growth ambitions 10-15% In online sales (70-80%) 11,824 contracts we are superior to all of them: 2019 70-80% We do not need house 77,298 contracts Our sales mix calls. 2019 We do not infect We 10-15% offer insuanyone. 10,912 contra
Slide 19: Where we want to go
Where we want to go – Internationalisation & new products 19
Slide 20: Where we want to go
Where we want to go We started as a specialist insurer and aim to develop into a full-range provider of insurance products We want to become a premium provider of AIFS (All-In-Finance-Solutions) products We want to expand to Europe 20
Slide 21: From specialist insurer to full-range provider
We started as a specialist insurer and aim to develop into a full-range provider of insurance products Today Future Mixed property and health Insurance Holding insurance Staff Unit Staff Unit Claim settlement Risk carrier of all insurance companies DFV DFV Sales Health P&C Life IT Servic
Slide 22: Premium provider of AIFS products
We want to become a premium provider of AIFS products DFV All-In-Finance-Solution AIFS stands for All-In-Finance-Solution Saving component The customer does not want to go through the exhausting process of searching for the best provider in every category € 150 p.m. The idea is now to combine
Slide 23: We want to expand to Europe
We want to expand to Europe First weigh, then venture 1 BaFin licence DFV has a BaFin licence We aim to utilise this national approval to run three seperate business units: property, health and life insurance 3 With it‘s national licence, DFV can operate in the business units Health Life Europ
Slide 24: Our guidelines
Our guidelines Simple. Reasonable. To be rather than to appear First weigh, then venture 24
Slide 25: What we achieved
What we achieved – Numbers Q1 2020 25
Slide 26: Fullfilling our annual targets - Q1 2020 target growth
Fullfilling our annual targets - Q1 2020 target growth Premium volume in € million New business (number of contracts) + € 24.9 million 100,034 108.2 101 83.3 75.7 55,227 + 2,781 contracts 30,049 27,718 25,000 2018 Q1/2019 2019 Q1/2020 2018 Q1/2019 2019 plan Q1/2020 Q1/2020 Henkel 26
Slide 27: Development of existing business 2016 – Q1 2020
Development of existing business 2016 – Q1 2020 Contracts development (number of contracts) 528,830 The reasons for the excellent development are: 514,104 502,721 + 2.9% As a result of the successful new business the contracts -7.63% +11.51% increased by 2.9 percent to about 529 thousand contracts
Slide 28: Q1 results 2020
Q1 results 2020 Revenue development 2017 – Q1 2020 EBIT before taxes 9 5 1.2 1 DFV closed Q1 2020 with a loss of € -5.6 million (IFRS). -3 -4.1 -7 -5.25 -5.6 -11 -11 2017 2018 2019 Q1/2020 2020 plan* As planned, Deutsche Familienversicherung closed the first quarter of 2020 with a loss. * € -9–11 mi
Slide 29: Financial key figures Q1 2020
Financial key figures Q1 2020 Financial investments in € million Solvency ratio in % 469 122.5 378 106.7 109.4 90.1 264 206 Corridor of 180%–220% 2018 Q1/2019 2019 Q1/2020 2018 Q1/2019 2019 Q1/2020 Claims ratio in % Combined ratio in % 122.9 98 102.6 Corridor of 60.5 62.4 95 56 Corridor of 95%–110%
Slide 30: Financial key figures Q1 2020
Financial key figures Q1 2020 Supplementary health and P&C insurances 7,771 1,354 372 103,610 1,864 2,067 24,936 Supplementary health Property & casuality Contracts insurance at insurance at (total) 31.03.2020 33 31.03.2020 82 (premiums in € ths) (premiums in € ths) 743 1,168 1,725 64,678 425,220 59
Slide 31: How we are capitalised
How we are capitalised Financial investments: Solvency ratio: € 118 million 200% Authorised capital for Security assets: further capital increases: € 68 million € 10 million Free assets: € 50 million 31
Slide 32: Shareholder structure
Shareholder structure Shareholder structure in %, pre-IPO Shareholder structure in %, post-IPO Shareholder structure in number of shares 2.24 10.02 12.28 Pesarini 3,038,748 22.91 31.48 6.77 SK Beteiligungen (Dr. Knoll) 2,826,712 VPV 2,083,300 25.12 10.51 A. Vogel 1,394,242 E. + N. Vogel 1,394,242 10
Slide 33: What about other Insurtechs
What about other Insurtechs – Valuation opportunity 33
Slide 34: International peer group: Valuation opportunities
International peer group: Valuation opportunities Differentiation from our insurtech-competitors* Gross Written Combined Company Premium Ratio Claim Ratio Employees Established in Rating DFV will grow it‘s market cap value in 580 mio. US$ 148% 115.3% 800+ 2015 3.6 billion US$ the following years on
Slide 35: National peer group: Valuation opportunities
National peer group: Valuation opportunities Differentiation from our InsurTech-competitors* Gross Written Combined Company Claim Ratio Employees Established in Rating Premium Ratio DFV will grow it‘s market cap value in the following years 0.075 mio. € ~161.9% n.a. n.a. 2015 1.2 billion € on the ba
Slide 36: Thank you very much for your attention!
Our next IR dates: 13/08 H1 2020 20/08 HIT - Hamburg Investor Day Thank you very much for your attention! Company fundamentals Number of shares 13.261.620 Any questions? WKN ISIN A2NBVD DE000A2NBVD5 Ticker symbol DFV Market segment Prime Standard Indices CDAX, MSCI Micro Cap Index 36
Slide 37: Deutsche Familienversicherung
DEUTSCHE €> Familienversicherung
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