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“Telematics for the Property Insurance Market”
Smart Home Sensors Enabling Customer Engagement and Reducing Property Claims & Losses
Global Leader in Telematics for the Property Insurance Market
Launched in Silicon Valley in
2014 by successful tech
entrepreneurs
Currently partnered with 30+
insurance companies around
the globe
300K+ Sensors in market in all
50 US states, Canada, Europe,
and Australia
Billions of new data points
provided to insurance
companies and their
policyholders
Go-to-Market Strategy Home & Commercial Property Insurance Carriers
Roost Confidential 2
Who we are#1 provider of home telematics solutions to the insurance industry…
Early Stage Investment Partners
Insurance carrier partners30+ P&C property carriers across all tiers….
Roost Confidential 3
Key Insights• Roost solutions are compelling and work for carriers of all sizes
• This is as much about digital customer engagement as it is about loss mitigation for carriers
Where the industry has been
• Reactionary indemnification
• Communicate once or twice a year
• High loss costs 40-60% of premium
• Historic static data gathered outside the
property
How Roost is driving digital transformation for property insurance carriersThe shift has started…
Where the industry is going
• Proactive prevention
• Communicate often with policyholder
• Reduce loss costs
• Capture real-time data within the property to
support better risk selection & pricing
Roost Confidential 4
Key Insights• The insurance industry is embracing sensor technology to help drive transformation
• Numerous new insurance carriers are bundling insurance policies with sensors
• Distribution of sensors to policyholders is becoming table-stakes in P&C insurance
Core value propositions:
• Customer engagement• Sensors enable a positive tangible experience• Compelling reason to download a mobile app• Verified email and mobile phone number• Transition from a paper to a digital relationship• Increased NPS, retention and brand affinity
• Claims cost mitigation• Reduce the cost of fire claims by faster
response to smoke alarm alerts & 911 action.• Eliminate the filing of water claims by early detection of
slow leaks • Helps transition to “prevention and protection”
• Data• Sensor and application data
Solution components:
• Cloud connected smart sensors
• White-label mobile app & services
• Data capture
• Turn-key deployment
Roost Confidential 5
The Roost property telematics solutionSensors + branded mobile app + data + deployment program…
Key Insights• Policyholders 77% more likely to recommend their insurance company after receiving a Roost sensor
• Non-alerted water leak claims result in 3-4x higher loss cost than Roost alerted claim
NO MORE 3
AM LOW-
BATTERY
CHIRPS
ALERTS YOU
WHEN YOU’RE
AWAY FROM
HOME
SIMPLE AND
EASY
INSTALLATION
The Roost Smart
Battery delivers
smoke alarm
notifications to your
smartphone
Smart 9V battery – mitigating fire perilsFire loss mitigation and peace of mind…
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~ 40% of home fires occur when no one is home according to the National Fire Protection Association
Mitigation of preventable leaks
• Most water leaks originate in specific locations- Under sink, dishwasher, toilet, hot water heater, washer
• Freeze prevention – temperature sensor used to warn of freezing
conditions
Features
• Wi-Fi device with easy set-up
• Audible as well as smart-phone notification
• Includes temperature and humidity sensors
- Measurements every 30 minutes
- Sensor data uploaded to Cloud every 24 hours at random time
• Leverages Roost app and notification service
• Cost-effective
• Powered by two AA batteries with battery lifespan of 3-5 years
Smart water leak & freeze sensorWater leak claim prevention/mitigation + proxy for occupancy…
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• 82 Million garages in the US
• Primary entrance to home for over 60%
• Puts your brand and logo in front of policyholders every day
• Customize notification frequency
• Schedule preset alerts
• Before bedtime
• Morning drive away
• Kids home from school
• Wi-Fi connected
• Leverages Roost’s mobile app
• “Branded” alerts to smart phone
• 2 years life with replaceable battery
• 5 minutes to install
Roost Confidential 8
Smart garage door sensorPeace of mind & digital engagement with carrier brand…
Key Features:Large & relevant market opportunity
Always know if it’s open or closed
How it worksInstalls with existing homeowner Wi-Fi in minutes…
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“We would have lost everything if it weren’t for the Roost Smart
Battery”
- Homeowner, Donna S.
Roost smart 9V battery saves upstate NY homeUnsolicited email from Roost user…
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• Objective: • Provide carriers with a white-label turn-key solution to offer policyholders a free carrier-branded mobile app with
one Roost smart home sensor for < $50
• Carrier benefits:• Capture policyholder verified email and mobile phone number
• “Real Estate” on policyholder’s phone with a branded mobile app
• New positive engagement with policyholder – improved brand exposure, brand affinity, NPS and customer experience
• Opportunity to mitigate or reduce fire and water leak claim costs
• Access to new data from inside the home
• Policyholder benefits: • Increase peace-of-mind at home through new “safety solutions”
• New positive perception of their carrier
• Solution detail:• One Roost smart sensor + white-labeled app + mobile app services
Roost’s approachSeed One Strategy
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Key InsightMost policyholders will not purchase Smart Water Leak/Freeze or Smart Smoke Alarms/sensors
Customer journey outreachAdoption & Installation ratesAverages across all Roost insurance partners
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Key Insights• Carriers are inexperienced and reluctant to digitally communicate with their policyholders
• Plan and execute two to three customer journeys during the Pilot Program
• Installation rates rise over time with education…a 50% install rate will yield a surprising ROI
Journey Adoption Rates Installation Rates
Claims Adjuster Very High Very High
In-home inspection High High
Call center 40-60% 40-60%
Agent 20-50% 40-60%
Email 6-15% 40-60%
USPS mail 6-8% 40-60%
User and Account Data
• Name
• Mobile number
• Home address
• Geo location
• Monitors• Multiple people can
receive the same
property alerts at the
same time
Identification Data
• Sensor name/location (user)
• Firmware version
• MAC address
• Router SSID
• Sensor serial number
• Wi-Fi Strength (app only)
• Alarm Mfg (user)
• Alarm Model (user)
• Alarm date of mfg.(user)
Sensor Data Reporting
• Sensor connection & deletion
• Low battery levels
• Smoke alarm detected
• Smoke alarm snooze (Battery only)
• Water leak alarm sounded
• High & low temp alarm on
• High & low humidity alarm on
• Climate Data readings (temp & humidity)
• Garage Open / Close
Roost data elementsAll data from sensors available to the insurance carrier every day…
Roost Confidential 13
Roost is ISO 27001CertifiedInformation Security Management Gold Standard
Custom dashboard & .csv file (updated daily)Data from policyholders provided to you…
Roost Confidential 14
You have an existing mobile app
Roost programs drive significantly higher
policyholder downloads of your mobile app
Two choices:
• Use Roost white-label app (included in program)
that links to your consumer portal
• Integrate Roost functionality into your existing
app (requires Roost SDK & IT integration project)
Access to policyholder relevant and engaging high
value 3rd party services
Carriers will experience significant increase in
mobile app downloads with Roost
You don’t have a mobile app
The Roost white-label carrier branded mobile
app is the digital engagement platform that
connects you to policyholders and agents
• Roost white-label app becomes your de-facto
mobile app for policyholder engagement
• Looks, acts, and feels like carrier mobile app
• You now have verified email and mobile phone
numbers for all participating policyholders
• Manages and monitors Roost devices
• Provides policyholders with link to carrier
consumer portal and high-value 3rd party services
Put your brand in front of your policyholders multiple times each month
The Roost white-label mobile appThe digital engagement connection to your policyholders…
Roost Confidential 15
Insurance carrier white-label appYour brand & functionality + homeowner focused engagement services…
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Mobile app – core Roost functionalityWhite label Roost multi-function app for policyholders…
Roost Confidential 17
Mobile app services todayMuch more than management & monitoring of Roost sensors…
App home screen
• Management & monitoring of Roost sensors and data
• Links to carrier self-service portal for policyholder services
• ID Card
• Pay-My-Bill
• FNOL
• Policy service
• Claim status
• Roadside Assistance
Roost Confidential 18
Severe weather alerts
Hyper local notifications drive action
• 500 m2 or zip code granularity
User enables up to 2 locations
Severe weather event warnings
• Precipitation
• Hail, heavy rain, flash flood, heavy snow accumulation
• Wind, storms & wildfire
• High wind, thunderstorms, tornado, hurricane, tropical storms, wildfire warning
• Temperatures
• Freezing temps & high temp warnings
Property Services
• Water leak notification... app button
triggers “local plumber call back in less
than 90 seconds“ feature
• Quick link to 250,000 local area home &
property service providers in the US
• Proactive property prevention services
communication platform
Key Insight73% of policyholders interact with the Roost mobile app monthly, 34% weekly, 13% daily
Turn-key custom programRapid custom program development & sensor deployment…
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• Kick off session with core team
• Customize by segmentation target and outreach method
• Build customer journeys to optimize impact
• Roost can drive the engagement execution
• Marketing automation to drive opt-in
• Surveys – qualification and post ship.
• Direct shipment and fulfillment to policyholders
• Weekly meetings and Quarterly Business Reviews during initial 9-12 month program rollout period
• No IT resources required
90 day launch and deploymentProject task
Duration
(days) 18 25 2 9 16 23 30 6 13 20 27 3 10 17 24 1 8 15 22 29
Kickoff 1 6/21/2018
Identify Customer Journeys (CJs) 7
Digital assets
Identify assets associated with CJ 5
Customize online CJ Assets 8
Edit and iterate for online assets 20
Implement & test marketing automation 20
Approval of marketting automation - 8/22
Marketing automation ready - 8/27
Print assets
Roost design custom package sleeve & QSG 7
Partner review of package sleeve & QSG 4
Approval of custom sleeve & QSG to print - 7/11
Partner design custom print welcome card 7
Roost review of welcome card & revisions 4
Printing of proof & delivery to partner - 7/11
Approval of welcome card to print - 7/18
Print assets are printed in China 21
Co-branded app
App customization 28
App testing & review 28
Approval of app - 9/12
App release to Apple / Google Play -
Shipment
Pack and sea ship from China 42
Arrival of sea shipment - 9/17
Program launch - 9/24
September OctoberJune July August
Key Insights• Successful carriers iterate early and often to maximize success
• Plan 6 to 9 months to maximize customer journey effectiveness
Roost Homeowners Pilot ProgramWhat is included…
Roost Confidential 20
Included in the Homeowners Pilot Program
• One Roost Water Leak/Freeze sensor
• Option for 2-pack with one Water Leak/Freeze sensor + one Smart Garage Door sensor or Smart 9V battery
• Carrier-branded mobile app customization and maintenance
• Carrier-branded packaging, quick start guide, and custom welcome card
• Data and data dashboard
• Development of customer journey
• Marketing automation tools
• Implementation management
• Manage inventory, pick, pack, ship, and track sensors to policyholders
• On-going customer support via text, e-mail, or telephone
Roost Homeowners Pilot Program PricingOne or Two sensors per property…
Roost Confidential 21
2,500
$91,250(1,250 sensors)
$123,750(2,500 sensors)
$147,500(2,500 sensors)
$219,500(5,000 sensors)
Number of homes1 Water Leak/Freeze
sensor per home
1 Water Leak/Freeze
sensor + 1 Smart Garage
Door sensor or Smart 9V
battery per home
1,250
Roost US homeowner survey - February 2019Survey data & insights….
• Primary quantitative study of 1,252 Roost device customers that responded to survey▪ 10.4% response rate from 12,000 Roost users invited▪ Roost sensors installed – Water Leak/Freeze (857), Smart 9V Battery (632), Smart Garage Door/Other (159)▪ User activation period range
▪ (1) Water Leak/Freeze sensor – 1 year
▪ (1) Smart 9V Battery – 2 years
▪ Largest demographic – Male, 45 to 60 years old, $100K to $150K household income, 92% are homeowners
• Customer satisfaction & engagement insights▪ 77% more likely to recommend their insurance company after receiving Roost sensor▪ 86% believe that Roost is a valuable addition to their home▪ 85% believe that they have a greater sense of peace-of-mind▪ 52% have received a notification from Roost that helped them (avg. 2.5 alerts/user)▪ 73% interact with the mobile app at least monthly
▪ 34% at least weekly▪ 13% daily
▪ 87% were happy with installation of their Roost sensor▪ 84% were pleased with the Roost mobile app usage and functionality
▪ Loss mitigation insights▪ Compelling and eye-opening▪ 60% of homeowners that install a water leak sensor have had prior water leaks/claims in their home▪ One water leak and freeze sensor catches 50% of water leaks in a home▪ If a homeowner is alerted by their Roost sensor to a water leak they have a 90% lower claims frequency and 75% lower
severity
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• Highest value/lowest cost, best ROI solution in market
- Program payback period typically under 12 months
- Increased policyholder peace-of-mind and satisfaction with their insurance carrier
- Real digital engagement that results in a much-improved customer experience for policyholders
• Solutions built exclusively for the P&C insurance industry and branded for the insurance carrier
• More than 25 insurance company partners around the globe, and growing
• Sustainable growth trajectory and R&D investment focus
• Over 100 years of combined insurance industry/insurtech experience on Roost team
• Single-minded focus on helping the insurance industry and their policyholders
Digital Transformation…Proactive Prevention…Value
Why Roost?Best combination of affordable loss mitigation & policyholder engagement…
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