Edelweiss Financial Services Limited · NSE:EDELWEISS
Edelweiss Financial Services — Corporate Update (October 2021)
19 slides from Edelweiss Financial Services's corporate update, Oct 28, 2021
Slide 1: Exchange filing cover letter: Update on General Insurance Business
EW/Sec/2021/188 October 28, 2021 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 532922 Symbol: EDELWEISS Dear Sir/Madam, Sub: Update on General Insurance Business P
Slide 2: General Insurance Business Update
General Insurance Business Update
Slide 3: General Insurance - The India opportunity
General Insurance - The India opportunity Under penetrated – significant headroom for growth #1 Premium % of GDP – 1/4 th #2 Premium Per Capita– 4% of Global Average of Global Average Key Gaps Customer experience gap Business model inefficiencies Limited product innovation • Poor claims experience •
Slide 4: Edelweiss General Insurance - Transforming Insurance
Edelweiss General Insurance - Transforming Insurance through Great experience Efficient digital Innovative products delivery model 3
Slide 5: Three years, many wins..
Three years, many wins.. Robust growth - 5X of Industry First cloud native insurer First insurer to launch a highly secure Public API platform 100% paperless customer onboarding First to launch OTP based Health Insurance onboarding First to launch on-demand insurance, Edelweiss Switch Winner of 10+
Slide 6: Our growth journey
GENERAL €& Edelweiss | INSURANCE Our growth journey
Slide 7: Growth 5X of Industry; Active customer base doubled in 12 months
Growth 5X of Industry; Active customer base doubled in 12 months INR Cr In Lakhs Gross Direct Premium for the half year Retail Business: Among fastest growing players in half year ended Sep 21, >19 lakhs active customers as of today 5X of Industry 154 19 64% 2x 94 83% 9 52 7x 1 Sep 19 Sep 20 Sep 21
Slide 8: Amongst the fastest growing players in the Industry
Amongst the fastest growing players in the Industry FY 21 Growth Rate Half year ended Sep 21 Growth Rate Edelweiss 49% Acko 177% Go Digit 37% Go Digit 83% Kotak 26% Edelweiss 64% Acko 13% Magma 34% Magma 5% Kotak 19% Liberty -6% Liberty 6% Navi Navi -5% -34% GI Industry 5% GI Industry 13% 7
Slide 9: Consistent focus on value creating segments of Motor & Health
Consistent focus on value creating segments of Motor & Health Motor OD% in the Motor portfolio highest Health % in overall portfolio highest in industry in the industry Half year ended Sep 21 Half year ended Sep 21 Edelweiss 64% 36% Edelweiss 44% 56% Industry 40% 60% Industry 30% 70% Half year ended
Slide 10: In three years, we've built a robust digital platform
In three years, we’ve built a robust digital platform that has enabled 9
Slide 11: Great customer experience
“Great customer experience” 1 2 3 Realtime digital NPS – BOLT- Remote survey for motor Instant policy issuance instant feedback claims with instant settlement 4 5 6 Value added services for AI enabled motor claims Health Insurance customers Auto settlement of travel • No deposit intimation powered b
Slide 12: Product innovation to address evolving customer needs
‘’Product innovation” to address evolving customer needs Edelweiss Switch, India’s first on-demand Motor Insurance - Don’t Use Don’t Pay Overcoming adoption barriers with Health 241 - If no Claim in Year 1, 2nd year is free Truly cashless experience in Motor – Consumable Protect Add-on Day 1 cover f
Slide 13: Operating leverage through Efficiency & Scalability
Operating leverage through ‘’Efficiency & Scalability” 1 Straight through issuance; Instant Policy 2 70 locations with 8 offices 3 Easy integration with partners through Open API gateway 4 End-to-end digital journey for partners 5 AI/ML driven portfolio management and pricing 6 AI/ML based fraud and
Slide 14: Continuous improvement in efficiency
Continuous improvement in efficiency Digital issuance Digital payments 99.8% for FY 20 65% for FY 20 99.5% for half year ended Sep 21 89% for half year ended Sep 21 NPS 45% for FY 20 55% 89% for half year ended Sep 21 Digital motor Opex ratio Claims survey 0.5% for FY 20 77% for FY 20 45% for half y
Slide 15: Rapidly growing distribution network on digital rails
Rapidly growing distribution network on digital rails End to End Digital Journey Omni-channel Digital Distribution Digital + Ecosystem Brokers Agents Industry Partnerships Partnerships FY 20 Sep 21 FY 20 Sep 21 FY 20 Sep 21 FY 20 Sep 21 100 250+ 700 1,500+ 5 19 6 19 14 Confidential
Slide 16: Awards - a testimony to our promise
Awards - a testimony to our promise Digital platform and organization • InsurTech of the Year FY20 • Emerging GI Company Award 2019 Product innovation Customer experience • World Auto Forum 2021 • Indian Marketing Awards 2020 • Customer Fest Awards 2021 • IMC Digital Technology Award 2020 • Finnovit
Slide 17: Way forward
Way forward Growth • Continue to grow at 3x Industry CAGR Great Customer Experience • Target NPS of 70+ across the value chain Product Innovation • Be a leading player in the on-demand insurance space • Have amongst the widest and best public API platforms in the country Efficient Digital Delivery M
Slide 18: Our Aspiration - to make insurance Easy, Friendly and Transparent
Our Aspiration – to make insurance “Easy, Friendly and Transparent” through Efficient digital Great experience Product innovation delivery model 17 Confidential
Slide 19: Safe Harbour
Safe Harbour This document may contain certain forward - looking statements, which are tentative, based on current expectations of the management of Edelweiss General Insurance Company Ltd (“EGIC”). The results in future may vary from the forward-looking statements contained in this document due to
Edelweiss Financial Services — Corporate Update (October 2021) on 6ix