FOXO Technologies Inc. · OTC:FOXO
FOXO Technologies — Investor Presentation (September 2022)
36 slides from FOXO Technologies's investor presentation, Sep 23, 2022
Slide 1: Corporate Presentation
Corporate Presentation September 2022
Slide 2: Disclaimer
Disclaimer General This presentation does not constitute an offer or invitation for the sale or purchase of securities and has been prepared solely for informational purposes. The information contained in this presentation (this “Presentation”) has been prepared for by FOXO Technologies Inc. (togeth
Slide 3: Disclaimer Continued
Disclaimer Continued Industry and Market Data This Presentation has been prepared by FOXO and includes market data and other statistical information from third-party sources. Although FOXO believes these third-party sources are reliable as of their respective dates, FOXO, nor any of their respective
Slide 4: Our goal is to make longevity science fundamental to life insurance
FOXO TEC HNOLOG I ES Our goal is to make longevity science fundamental to the global life insurance industry FOXO INVESTOR DECK 2022 Page 4
Slide 5: Investment thesis
KEY HIGHLIGHTS Investment thesis Life Insurance Platform to modernize industry with saliva-based epigenetic underwriting technology that eliminates blood and urine requirements, and embed longevity science as new value proposition for consumers with “Life Insurance Designed to Keep You Alive” Multip
Slide 6: Proven leadership in insurance, longevity science, health, and technology
EXPERT TEAM Proven leadership in insurance, longevity science, health, and technology. Jon Sabes Erin Sharoni Brian Chen, PhD Tyler Danielson Robby Potashnick CEO & Founder Chief Product Officer Chief Science Officer Chief Technology Officer Chief Financial Officer FOXO INVESTOR DECK 2022 Page 6
Slide 7: The next paradigm shift
THE NEXT PARADIGM SHIFT There are moments in time when innovation is so radical, the course of civilization is forever changed. FOXO INVESTOR DECK 2022 Page 7
Slide 8: This is the biological century
This is the biological century The rapid maturation of DNA sequencing, AI, and machine learning is transforming our understanding of biology and longevity. Technology Review, Antonio Regalado, 2021 Extending human healthspan and longevity: a symposium report, New York Academy of Science, 2021 FOXO I
Slide 9: Molecular biotechnology is transforming human longevity
THE SCIENCE OF HEALTHSPAN Molecular biotechnology is transforming human longevity FOXO INVESTOR DECK 2022 Page 9
Slide 10: Our mission
OUR MISSION To make longevity accessible to all, empower people to live healthier, own their data, and control their future FOXO INVESTOR DECK 2022 Page 10
Slide 11: Life insurance designed to keep you alive
INTRODUCING Life insurance designed to keep you alive ™ SALIVA-BASED UNDERWRITING + LONG EVI TY REPORT FOXO INVESTOR DECK 2022 Page 11
Slide 12: Life insurance is ripe for disruption
AN UNPRECEDENTED OPPORTUNITY Life insurance is ripe for disruption All figures are USD per annum. (1) American Council for Life Insurers, Life Insurers Fact Book 2020 (2) McKinsey 2020 Global Insurance Pools statistics and trends (3) Life underinsurance in the US: bridging the USD 25 trillion mortal
Slide 13: Industry stakeholders: core challenges
INDUSTRY STAKEHOLDERS: CORE CHALLENGES Consumers Agents Carriers Product has low relevance and commoditized Product is difficult to sell, underwriting Incumbents are large, old and slow is time consuming and invasive 1989 2021 30% 49% 1886 63% (3) (4) (5) (6) 77% 52% Sales breakage rates of Of all l
Slide 14: Insurance platform and services platform
B2B2C M OD EL B2B M OD EL Insurance Services platform NOW platform • Life insurance products • Consumer engagement & underwriting • Healthy longevity & Saliva-based underwriting services • B2B2C: Offer to consumers via agents • Healthy longevity & Saliva-based underwriting • Modernize products • B2B
Slide 15: B2B2C Insurance platform
B2B2C Insurance platform • Make healthy longevity fundamental to life insurance • Adaptable infrastructure • Experienced team BACKBONE • Workbench for saliva-based underwriting Launching with Assurity • Permanent & Term life insurance Products • Distribution model with carrier partner (MGA) Assurity
Slide 16: Longevity science
Longevity science Popularity • 30M+ consumers purchasing 23&Me, Ancestry.com, etc. • Consumer interest in longevity, health, science • People want to live longer and healthier Opportunity • US ranks 26th of 35 OECD countries for life expectancy (1) • Yet ranks 1st in healthcare spending per capita •
Slide 17: Core values
Core values Accuracy “I know the data is correct.” Transparency “I know what I’m paying for/receiving and how my data is being used.” Trust “I know my data is secure, de-identified, and used ethically.” Ownership “I know I have the power to collect and withdraw my data at any time.” Non-discriminati
Slide 18: Life Insurance with Assurity
FOXO LIFE Life Insurance with Assurity (1) FOXO Longevity Report Biological Age An in-depth and accurate picture of your biological aging A first-to-market personalized Longevity Report includes measured by epigenetic clock insights into biological aging and epigenetic measures of health to directio
Slide 19: Perfect product-market fit
FOXO LIFE Perfect product-market fit Epigenetic clock Molecular health Consumer & agent survey (1) Age Acceleration Age Deceleration 58% 10% 80% Consumers in-market were Consumers out-of-market Agents surveyed would Age-related disease Healthy aging interested in purchasing life were interested in p
Slide 20: A whole new reason to buy life insurance
INTRODUCING A whole new reason to buy life insurance FOXO INVESTOR DECK 2022 Page 20
Slide 21: Services platform
B2B Services platform • Proprietary science • Experienced team • Adaptable & scalable infrastructure BACKBONE • Global opportunity to modernize industry Saliva-based underwriting • Enhanced accelerated underwriting with saliva-based biomarkers • Eliminate sales friction / eliminate sales breakage •
Slide 22: We're modernizing underwriting with saliva-based epigenetic biomarkers
LONGEVITY SCIENCE We’re modernizing underwriting with saliva-based epigenetic biomarkers FOXO INVESTOR DECK 2022 Page 22
Slide 23: Why saliva-based underwriting is a compelling opportunity
EPI G ENETIC BI OMARKERS Why saliva-based underwriting is a compelling opportunity • LIMRA identifies medical underwriting as the single greatest pain point in this customer experience (1) • Agents loathe inconvenient, invasive, time-consuming blood & urine specimen collection required for medical u
Slide 24: What is epigenetics
What is DNA is your genetic code. Epigenetics is the expression of that code. Inherited from parents Changing, modifiable, adapting, and reacting Fixed at birth Associated with age-related decline, and disease states Determines ancestry, ethnicity, gender, eye color, and Impacted by tobacco, alcohol
Slide 25: Use case: Longevity Science
EPI G ENETIC BI OMARKERS Genetically Underwriting Risk Classifications identical twins Use case 5 Longevity 4 Epigenetic Health Profiles 3 Science Epigenetics can distinguish between current, former and never smokers – comparing favorably 2 1 to the life insurance industry’s use of cotinine biomarke
Slide 26: Epigenetic longevity biomarkers
PROPRIETARY Health status data Epigenetic data Epigenetic Longevity biomarkers Science We use automated machine learning to find patterns of DNA methylation occurring along the epigenome that correlate to current states health and wellness. We call these identifiable patterns “epigenetic biomarkers.
Slide 27: Collaborations and Scientific Advisory Board
RESEARCH SCIENTIFIC Collaborations Advisory Board Physicians’ Health Study • Epigenetic and health status data on 11,340 physicians Peter Laird, PhD Epigenetics • 30 years follow-up Van Andel Institute (VAI) • 2,000+ mortality events and other major diseases Hui Shen, PhD Bioinformatics VITAL Study
Slide 28: Underwriting protocols
EPI G ENETIC BI OMARKERS Underwriting protocols (1) Policy face amount Insured age 21–30 31–50 51–60 61–70 71+ Accelerated underwriting Data Data $0–$449,999 Data Data Data Saliva-based underwriting Paramed Paramed APS Medical underwriting Data Data $500,000–$999,999 Data Data Data Paramed Paramed A
Slide 29: Underwriting protocols
EPI G ENETIC BI OMARKERS Underwriting protocols Accelerated underwriting Application Data Decision Instant Saliva-based underwriting • Saliva is less invasive and easier to collect • Epigenetics generates information similar to blood/urine tests for underwriting Application Data Saliva Decision Days
Slide 30: Underwriting protective value framework
EPI G ENETIC BI OMARKERS Underwriting protective value framework Example: $2M policy, male, age 35 Gross Claims Benefit Underwriting Underwriting Over Accelerated Underwriting Net Claims Benefit After Underwriting Information Cost Over Accelerated Expected Claims (1) Underwriting Cost Accelerated On
Slide 31: Business model
Business model FOXO INVESTOR DECK 2022 Page 31
Slide 32: Development plan
C OMMERC I ALIZATION Development plan NOW We are executing a three phase development plan for the growth of Preparation our products and services. • Complete proprietary epigenetic biomarker R&D • Build technology stack to support operations • Acquire life insurance company: FOXO Life Insurance Comp
Slide 33: Market share capture
SALIVA-BASED UNDERWRITING Market share capture Insurance carriers adopting accelerated underwriting (1) (2) Projected policies eligible for accelerated underwriting and modelled saliva-based underwriting market share capture (3) Target market opportunity is the projected growth in accelerated underw
Slide 34: Capitalization
Capitalization FOXO’s outstanding shares post-close with Delwinds Insurance Acquisition Corporation (NYSE: DWIN) As of September 19, 2022 FOXO INVESTOR DECK 2022 Page 34
Slide 35: Comparable company peers
Comparable company peers FOXO’s focus on longevity differentiates it from peers High Growth Distribution Diagnostics Biotech Insurtech (1) HSCM Public InsurTech Index (1) Represents HSCM Public Insurtech Index at time of transaction announcement. HSCM Public InsurTech Index comprised of BHG, BRP, CC
Slide 36: Thank you
Thank you For further information, please contact Investor Relations Cody Slach, Matthew Hausch Gateway Investor Relations (949) 574-3860 FOXO@gatewayir.com Life insurance designed to keep you alive™ © 2022 FOXO Technologies Inc. All rights reserved.
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