Evaluate the executive summary using based on: COMPLETENESS OF INFORMATION (refer to slide 4 WK2 ppt), RELEVANCE OF BUSINESS/PRODUCT IDEA, PROFITABILITY, AND SUSTAINABILITY. Justify your evaluations.
An executive summary of a proposed business is reproduced below. Evaluate the executive summary using based on: COMPLETENESS OF INFORMATION (refer to slide 4 WK2 ppt), RELEVANCE OF BUSINESS/PRODUCT IDEA, PROFITABILITY, AND SUSTAINABILITY. Justify your evaluations.
Business opportunity
"More than half of all Smartphone users in Germany (56%) want app functionality for insurances, one in five is enthusiastic about the idea." As evident from a recent survey."
Insurance companies are still inefficient in their use of digital capacity and are not yet ready for the digital age. According to the X trend study, mobile sales channels and modern, social communication channels will dramatically gain importance, by 2020. However, most insurance companies have undertaken no endeavors to prepare for this trend.
RiskEraser offers a solution for insurance companies, to retain their customers in the insurance world 2.0. Customer behavior has changed extremely in the past few years and customers are accustomed to using the Internet and mobile online services at any time. With our solution schutz2go, small insurance products (for example 24 h car insurance drivers changing) can be independently booked and you can interact with the insurance at the same time.
On one hand, consumers can enjoy being able to book smaller insurance products easily, quickly, and accurately. On the other hand, insurances have a new way to get into contact with their customers.
Entrepreneurs and entrepreneurial background:
[Brief introduction of RiskEraser: Introduction of the entrepreneurial team and the entrepreneurial background. The team consists of business managers, programmers and designers]
Summary of services
(1) schutz2go
RiskEraser provides a "software as a service platform" for a monthly license fee. Insurance companies can assemble their own digital sales catalog and themselves for the digital age. All modern systems (iOS, Android, mobile, responsive website) are supported. Insurance products can be stored in schutz2go directly via interfaces. The customer selects and buys them there as well. The technology used enables a connection to the central insurance systems and thus an automatic contract for the insurance (dark processing). Schutz2go insurances can therefore minimize the operational costs of small, not consulting-intensive and situational insurance products and increase sales.
Insurance companies can offer an innovative service and bring their customer communication, for example, via push messages, to the next level. In addition, customers' insurance on (situational) protection products can be accessed at any time - 24/7 -, when they are really needed. The products are so easy, understandable, and tangible, an end customer can independently complete a policy within a very short time, without having to contact the insurance company.
(2) ShareSurance - insurance broker for the share economy
Specializing in technical sales of microinsurance products and our excellent contacts in the startup world have led to RiskEraser helping startups in the development and integration of insurance products' value proposition. The products we develop for the share economy, can be distributed by the Internet platforms (eCommerce-marketplace) of our "ShareSurance" customers.
This business model goes hand in hand with the development of our Webshop product portfolio because it allows us to generate cash flow faster and to come in contact with new insurance companies that are interested in developing products for the share economy and expanding into new fields of business.
Unique selling point
The main difference of our technology is a combination of sales, service and advanced communication features. The app-based product platform combines SSC functions fully and accurately. Thus the schutz2go technology meets customer-friendly modern requirements for the insurance industry through its digital strategy. A schutz2go solution causes only a fraction of the financial and time costs in comparison with a similar scope of functions developed in-house by the insurance company.
Insurance companies receive a mobile and customer-friendly sales channel with schutz2go technology.
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