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XCHANGING:PROVIDER OFTECHNOLOGYTECHNOLOGYENABLED BUSINESSPROCESSINGSERVICESXchanging Investor Seminar5 Novembero e be 20130 315
AGENDA19:00Strategic direction: Trends in the industry; whytechnology-enablement?Ken Lever29:15MM4Stephen Trainor39:40Netsett, X-presso; technology for insuranceJim Sadler410:05Emerging Technologies: Big CommunitiesMurali Nadarajah10:30Q&A10:50BREAK511:10XuberAdrian Morgan611:35Unlocking GrowthStephen Scott712:00Business Model & Change ProgrammeDavid Bauernfeind12:25812:45Q&A13:359Ken LeverRoundup commentsLUNCHSpeaker Biographies 2013 Xchanging plc
INTRODUCTION ANDSTRATEGIC CONTEXTKen Lever
THE TIME LINE - MAKING IT HAPPEN20112012201320142015Stop thebleedingGet fit againCompete to winGoing for Gold – Stepping up the paceTODAY4XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
MAJOR TRENDS – BUSINESS PROCESSING MARKET Customer expectations SupplyIndustry &CustomerInsightServicePlatform Technology Impact Our ion5XCHANGING INVESTOR SEMINAR 2013Capabilities 2013 Xchanging plc
CAPABILITIESc. 2500 PEOPLETECHNOLOGYSERVICESLLOYD’S& LONDONMARKETCOMPETENCYCENTRES6XCHANGING INVESTOR SEMINAR 2013XCHANGINGITALY 2013 Xchanging plc
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AGENDAMM48Stephen TrainorManaging DirectorDirector, EMEA,EMEA ProcurementNetsett, X-presso:Technology for insuranceJim SadlerChief Information OfficerEmergingg g Technologies:gBig CommunitiesMurali NadarajahjCEO, Xchanging MalaysiaXCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
AGENDAXuber9Adrian MorganHead of XuberFocusing our service offeringStephen ScottExecutive Director, Sales & MarketingBusiness Model & ChangeProgrammeDavid BauernfeindChief Financial OfficerRo nd p CommentsRoundupKen LeverChief ExecutiveXCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
MARKETMAKER4:BROADENING OURPROCUREMENTOFFERINGSStephen Trainor
XCHANGING PROCUREMENT SERVICES ADDS MM4 SaaS based ee-SourcingSourcing technology – expands existing Procurement offering Accelerates Procurement technology strategy Creates synergies, benefitting both MM4 and Xchanging WWellll differentiated:diffti t d easieri tot use; marketk t intelligence;i t llisupplierli vetting;ttiddedicateddi t donline support Builds presence in significant US market11XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
XCHANGING PROCUREMENT SERVICES Full S2P service capability High specialist category management capability Strong brand awareness No3 Procurement Service provider globally– Everest ranking improvement (October 2013)12XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
MARKETMAKER4 ACQUISITION Acquired 20 September 2013 e-Sourcing Software-as-a-Service provider Headquartered in Chicago SubscriptionS b i tiffee modeld l e-Sourcing market estimated at US 1.4bn p.a. globally Three founding shareholding directors remain with the business Bolt-on technology acquisition in line with Group strategy International customer base of cc.3535 on acquisition and 8 new customers addedsince then13XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
INDUSTRY AGNOSTIC14XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
GETTING STARTED - MM4 DASHBOARDMarketmaking24/7 ketInsights15XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
EXPANDED SERVICE OFFERINGXchanging ProcurementServices pre-MM4 acquisitionMANAGING INDIRECT SPENDMM4MANAGING DIRECT AND INDIRECTSPENDFood retailerCar mechanicCosmeticsmanufacturer16XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
DIFFERENTIATIONCUSTOMERNEEDSSUPPLIERBIDS Market intelligence andsupplier vetting Supplier identification Event management Evaluation/decision17XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
ENHANCED VALUEMARKET INSIGHTSBUSINESS INTELLIGENCEMARKETMAKING18XCHANGING INVESTOR SEMINAR 2013E‐SOURCING TOOLS 2013 Xchanging plc
MAKING CONTACT – SETTING UPClient engages MM4through themulti-lingualmarketmaking/snap-engage featureKristina: Hi,Hi I’mI m your online assistant.assistant How can I helpyou?Me: Hi, I would like to run an event on transportation.Can you please help me?Kristina: Hi! I’d be more than happy to assist you withthat. Can I give you a call so that we can discuss allof the details?19XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
RESEARCHING INDICESClient researchescommodity oilprices usingmarket insightsmoduleClient may also utiliseMM4’ss customised marketMM4insight reports for moredetailed information ontrends current conditionstrends,conditions,and cross-countrycomparisons20XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
GATHERING SUPPLIER INTELLIGENCEInitiate a search on thesupply base for transportservices through thecompany intelligencesection21XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
ING INVESTOR SEMINAR 2013ContractCttManagementServiceSpend &SavingsManagemente-sourcing 2013 Xchanging plc
GROWTH OPPORTUNITY.MM4 is easier to use23XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
GO TO MARKET STRATEGY Enhance MM4 penetration through Xchanging marketing & sales investment MM4 drives sales of existing procurement offering Cross sell to entire existing Xchanging customer base UpsellingUlliffromMM4 tot new customerst MM4 low cost entry to new markets, e.g. Australia, Singapore, China, M. East andLatin America24XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
ACCELERATING TECHNOLOGY STRATEGYSpend AnalyticseSourcingeProcurement & MarketplaceContract Life ManagementSpend and Savings ManagementSupplier Relationship ManagementIntegration & workflowCustomer Relationship ManagementBig Data, benchmarking, MI, BIProcurement PortalInternal portal - SpringboardVertical Category Managed Services25XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
ADDING MM4 DRIVES NEW BUSINESS OPPORTUNITIESMM4Xchanging Full S2P service capability eSourcing software High specialist category Market making capabilitymanagement capability Business intelligence and Strong brand awarenessmarket data No3 Procurement Servicey solution E deliveryprovider globally Accelerated savingsdelivery for existingcustomers Drives S2Ptechnologyintegration Significant retainedknowledge bank26XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
ADDING MM4 DRIVES NEW BUSINESS OPPORTUNITIES27XCHANGING INVESTOR SEMINAR 2013Expandsprocurementoffering anddrives growthCreates upsellingopportunityBuilds ‘stickiness’betweenXchanging andthe customerBuilds USpresence 2013 Xchanging plc
NETSETT,, X-PRESSO;;TECHNOLOGY FORINSURANCEJim Sadler
OUR INSURANCE MARKET TECHNOLOGY SOLUTIONS Disrupting– Our innovation and technology has, over 10 years, been disruptingand modernising the London Insurance Market. Our London marketplatforms are the most sophisticated of their kind in the world. Global– We are expanding and growing our business by taking what we dowell in London to other insurance markets around the world.world CommunitiesCiti– All our market technology solutions are built around community sales.This makes them very sticky once a critical mass is established whichdrives down the threat of competition. We are building new solutionsand communities enabled by the latest mobile computing29XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
THE LONDON INSURANCE MARKETHere’s how it works %% InsurerInsurer% IInsurerClientPremiumsClaimsBroker %InsurerInsurer% 100% Insurer%Annual transactions [6 x #policies] [6 x #claims]30XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
1. DISRUPTING THROUGH INNOVATIONMarrketSubmissionModernising the London market’s back-officeLondon Market PlatformUser InterfaceMessage ManagementAppplicationWorkflowPolicy AdministrationSettlementClaim AdministrationDataDocument ManagementOperational DataAnalytical Data54Bn33millionper yeardocuments2million31XCHANGING INVESTOR SEMINAR 2013hits per day 8000active users 2013 Xchanging plc
1. DISRUPTING THROUGH INNOVATIONModernising the London market’s back-office 270Firms tradingClaims paid 6 x faster32XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
1. DISRUPTING THROUGH INNOVATIONMarkettSubmissioonThe London Insurance Market PlatformsUser InterfaceMessage ManagementAppllicationWorkflowPolicy AdministrationSettlementClaim AdministrationDataDocument ManagementOperational DataAnalytical DataDisrupting: Our innovation and technology has, over 10 years, beendisrupting and modernising the London Insurance Market. Our Londonmarket platforms are the most sophisticated of their kind in the world.world33XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
MarketSubmission2. TAKING LONDON GLOBALUUserIInterfacet fMessage ManagementAppliccationWorkflowPolicy AdministrationSettlementClaim AdministrationDataDDocument ManagementOperationalpDataAnalytical DataLondon Market Platform34XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
2. TAKING LONDON GLOBAL50% Efficiency SavingsZero UnmatchedCash/Balances80% Capital Efficiency fromNettingCOOCFO / CROTreasurerOperational EfficiencyTransparency & ControlCapitalCapa Efficiencyc e cy Reduced costs Improved quality Accelerated reconciliationprocess Straight Through Processing Enhanced processefficiency Regulatory competence Transparency of contractand market performance VisibilityVi ibilit andd controlt l offfuture payables/receivables Reduced Credit Risk54Bnper yeartraded Enhanced Cash flow andliquidity management Reduced cost of capital//contingenttit liquidityli idit Better control,transparency cost &execution of FX11Bnper yearmovedI tInter-connectedt d benefitbfit case across Operations,OtiRisk,Ri k FinanceFiandd TreasuryT35XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
2. TAKING LONDON surerBrokerInsurerBroker36XCHANGING INVESTOR SEMINAR 2013Insurer 2013 Xchanging plc
2. TAKING LONDON rInsurerBroker37XCHANGING INVESTOR SEMINAR 2013Insurer 2013 Xchanging plc
2. TAKING LONDON rInsurerBrokerInsurerNew38XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
2. TAKING LONDON GLOBALGlobal: We are expanding and growing our business by taking whatwe do well in London to other insurance markets around the world.world39XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
3. CREATING A NEW COMMUNITY40XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
3. CREATING A NEW COMMUNITY41XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
3. CREATING A NEW COMMUNITY42XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
3. CREATING A NEW COMMUNITY43XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
3. CREATING A NEW COMMUNITY44XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
3. CREATING A NEW COMMUNITY45XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
3. CREATING A NEW COMMUNITYClaims AgreementAromoCommunities: We are buildingg new solutions and communitiesenabled by the latest mobile computing46XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
OUR INSURANCE TECHNOLOGY SOLUTIONSAll our market technology solutions are built around community sales. Thismakes them very sticky once a critical mass is established which drivespdown the threat of competition. 270Firms tradingTAKING LONDON GLOBALWe are expanding and growing our business bytaking what we do well in London to other insurancemarkets around the world.DISRUPTING ANDINNOVATINGOur innovation and technology has,has over 10 years,yearsbeen disrupting and modernising the LondonInsurance Market. Our London market platforms arethe most sophisticated of their kind in the world.47XCHANGING INVESTOR SEMINAR 2013NEW VIRTUAL COMMUNITYWe are building new solutions and communities enabledby the latest mobile computing 2013 Xchanging plc
EMERGINGTECHNOLOGIES: BIGCOMMUNITIESMurali Nadarajah
49XCHANGING INVESTOR SEMINAR 2013 V.241013 1200 2013 Xchanging plc
OVERVIEWLEARNINGPLATFORMTICKETPLATFORM School in the Cloud Classroom of One First Cloud-basedPlatform Cost-offloadingINTERNET OFTHINGS Emerging Technology Sector SpecificBIG COMMUNITYCLOUDBASED50XCHANGING INVESTOR SEMINAR 2013CROWDSOURCINGCURATIONRATING –USERFEEDBACK 2013 Xchanging plc
LOWPROCEESS ENABLLEMENTHIGHCOMPETITIVE ENVIRONMENTLOWHIGHTECHNOLOGY ENABLEMENT51XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
LEARNING PLATFORMMOE School in the CloudCLASSROOMVIRTUALIMPLEMENTATION & MANAGED SERVICESINDUSTRIALIZED TEACHING52XCHANGING INVESTOR SEMINAR 2013ABILITY BASED LEARNING 2013 Xchanging plc
LEARNING PLATFORMCurated ContentBIG COMMUNITYFREE CONTENTCROWDSOURCEDCURATIONRATING –USER FEEDBACKCOST OFFLOADINGEnableEbl teachersthtotcreate contentEmpower studentsEt d t totrate the content andprovide feedback 53XCHANGING INVESTOR SEMINAR 2013ParentsPt can accessand contribute tocontent More parentalengagement andmonitoringCost offloading usingcontent developedthrough crowdsourcing 2013 Xchanging plc
LEARNING PLATFORMCompetitive Landscape and USPs54COMPETITORSXCHANGING USPPoint solution providersComplete end-to-endCloud SolutionProprietary high costOpen source softwareand free contentSmall implementations1Bestarinet World’s largest projectXCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
LEARNING PLATFORMMarket Opportunity: Focus on emerging economies – India, SEA, CaribbeanMarket size in UUS billioonWorld-wide Market OpportunityUSD 220.0 bUSD 73.8 b20122017Source: Markets and Markets55XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
TICKETING PLATFORMAutofare Collection SENGERSERVICEMACHINE56XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
TICKETING PLATFORMCompetitive Landscape and USPs57COMPETITORSXCHANGING USPIn-station equipmentq pCloud-basedvirtual appliancesContactlessCt tlcardsd (e.g.(oyster card)andad papepaper ticketsc esVirtual tickets via phonesAnonymous commutersMonetizable communityXCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
TICKETING PLATFORMMarket Opportunity: Value-added SalesAnnual rridershipAp in billioonsWorld-wide Market OpportunityUSD 60.2 bUSD 47.2 b20122017Source: Markets and Markets58XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
INTERNET OF THINGSSMART METERINGCONNECTED CARMACHINE TO MACHINEINTERACTION Diagnostic Statistics Remote Access Location MonitoringINTELLIGENT BUILDING59XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
1ECONOMIES OF SCALETHROUGH SHAREDRESOURCES2COST-OFFLOADING FROMCROWD-SOURCING3IMPROVED QUALITYTHROUGH CURATION4CREATING ADDITIONALREVENUE STREAMS FOR OURCUSTOMERS5GENERATING INTELLECTUALPROPERTYLOWPROCESSS ENABLEMENNTHIGHCONCLUSIONLOWHIGHTECHNOLOGY ENABLEMENT60XCHANGING INVESTOR SEMINAR 2013 2013 Xchanging plc
XUBERAdrian Morgan
XuberHeadlines Xuber is based on a firm foundation Unique, new technology, global offering. The market is replacing legacy – it’s the right time for Xuber Limited competition today Xuber underpins an organisations business Global capability and partner ecosystem
The Insurance IndustryXuber provides core processing software to Non-Life rsonalInsurance
Future Potential from a Solid FoundationSolid global customer base and successful existing productsPre-20122013Existing Software Products4 New Componentised Software SolutionsComponent sXuberfor uberfor ReinsurersXuber Launch16th October 2012XuberfforInsurersBilling
Xuber Suites and ComponentsFull lifecycle processing for Brokers, Insurers and ingPlacementUnderwritePolicyClaimsBillingAd i i t gCedinggRetro-ceding
Xuber Suites and ComponentsFull lifecycle processing for Brokers, Insurers and ReinsurersAnalytics andInsurance/ReinsuranceProcessingEnd User ExperienceDesign StudioInsurance ProductDesign and Deploymente.g. Aviation, Marine
The Opportunity – the market is shiftingExisting monolithic legacy systems are holding organisations back.LimitedLocal Marketg yLegacysystemsAgileMultiple MarketModernsystemsThe right time for Xuber
The Opportunity to replace Legacy SystemsWhat the industry analysts are saying Core systems investments continueto be critical in improving time tomarket and product flexibility.NovaricaSource: Business and Technology Trends: CommercialLines, a Business and Technology Trends Report,Novarica, September 2013.More than one-third of insurers arereplacing core policy administrationsystems and about a quarter arereplacing claims systems, billing, ratingand underwritingNovaricaSource: US Insurer IT Budgets and Projects 2014, NovaricaResearch Council Report September 2013.The Gartner 2012 CIO Survey (with 85insurance CIOs from life and P&CInsurers around the globe) showed thatinsurance CIOs legacy modernisationtheir second most important technologyprioritypy for the next three yyears.GartnerGartner 2012 CIO Survey
The Opportunity for XuberCore software spend approximately 2bn per annumNon-Life Commercial packaged software spend (2012)*US & UK account for65% of market*Source: PA Consulting, Ovum, Sigma, ABI
Xuber – Competitive LandscapeStill legacy or single market/component providersNewTechnolog BrokerySolutionsProducts(2)ApproxSize People(1)InsuranceSoftwareLocations8000(370)US, UK,Europe,APACGuidewire1100US, UK,Europe,APAC Accenture(DuckCreek)250000(600)US UKUS, Fineos350US, UK UK CompanyXchanging(Xuber)j150Total ObjectsCSC90000(NA)SequelBusinessSolutions150NIIT (Room)4500(200) UK US,Europe,APACUKInsurerSolutions partial SolutionWorkersLinesSupportCompsSupport ModulesKey Strengths PolicyClaimsBillingCedingBrokingGlobal, single instance multicurrency, complex commercialand Small CommercialInsurance and reinsurance.London Market .US Personal and SmallCommercial Insurance. Verystrong in Claims and growing inPolicy and Billing. Growing Growing PolicyClaimsBillingUS Personal and SmallCommercial Insurance.Insurance Corestrength rating/pricing ClaimsFocused on Claims includingLondon Market BrokingC diCedingFocused on London Market PolicyClaimsBillingCedingComplex commercial andSmall Commercial Insuranceand reinsurance. PolicyClaimsBillingCedingCommercial Insurance andreinsurance. London MarketPolicyClaimsBillingCedingLondon Market Reinsurance. PersonalLinesPolicyClaimsBilling 2014SME
Key CompetitorsKey competitors moving from single market personal insurance
Xuber – Go to Market Focused go to market approach1.22.3.44.Upsell to 130 existing Xuber softwarecustomers and to otherX h i InsuranceXchangingIcustomerstTargeted UK, US and APACInsurer and Reinsurer Campaigns for 2014.(Broking and MGA campaigns to follow)Upgrade Studio technology to supportthe migration from Xuber andnon‐XubernonXuber solutionsImplementation Partners supportglobal deployment of Xuber Software. London MarketAssumed ReinsuranceUS Non‐AdmittedUpgradeStudio
Xuber software deployment options Xchanging can offer Xuber software in several ways:1.SoftwareOn Premise2.Softwareas a Service (SaaS)3.Business Processingas a Service (BPaaS)
Future Potential from a Component startFull lifecycle solutions enable full legacy system replacement2013New SoftwareComponents2014New Full Lifecycle Software SolutionsNewSigning7th NovComponentOpportunities Full system replacement opportunities London Market
AGENDA 19:00 Strategic direction: Trends in the industry; why technology-enablement? Ken Lever 2 9:15 MM4 Stephen Trainor 39:40Netsett, X-presso; technology for insurance Jim Sadler 4 10:05 Emerging Technologies: Big Communities Murali Nadarajah 10:30 Q&A 10:50 BREAK 5 11:10 Xuber Adrian Morgan 6 11:35 Unlocking Growth Stephen Scott 7 12:00 Business Model & Change Programme David Bauernfeind
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