Telematics for the Home

Customer Engagement & Insights

Co-Founder and CEO, Roost

Roel Peeters

VP Strategy, Innovation & Strategic Partnerships, Desjardins

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Speakers

Boris Collignon

Global Leader in Property Telematics Focused on the Insurance Industry

For Personal and Commercial Lines

Launched in Silicon Valley in

2014 by successful tech

entrepreneurs

Currently partnered with 25+

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

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Who We Are

Strategic Investment Partners

• Direct to consumer focus initially• Zero insurance partners

• Saw opportunity to help P&C insurance industry transform• Pivoted company to focus 100% on P&C insurance industry

• Met with 250+ insurance company executive teams around the world• Established 25+ partnerships with insurance carriers

• Hundreds of thousands of sensors deployed globally to policyholders

• Initial insights developed from multiple data sources• Customer journey

• Policyholder engagement

• Loss prevention & mitigation

Roost Experience & Insights Our journey over 5 years

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Insurance Carrier Partners

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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

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

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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

How Roost is Driving Digital Transformation

f• 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

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Roost US Homeowner Survey - February 2019 Survey data & insights

Primary quantitative study of 1,252 Roost device customers that responded to survey

Perceived poor

value proposition

Policyholder’s View of Value Proposition

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54%

Smart home devices are too expensive

45%

I don’t see any benefit to my lifestyle

Key Insights• Most policyholders will not purchase Smart Water Leak/Freeze or Smart Smoke Alarms/sensors

• 86% believe that Roost is a valuable addition to their home

• 85% believe that they have a greater sense of peace-of-mind

What has been Desjardins’ experience with the Alert program?

• 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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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

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The Roost Home and 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

• Alerted water leak claims resulted in lower claims costs

How does the Alert program fit in the context of a broader customer engagement strategy?

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

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Insurance Carrier White-Label AppYour brand & functionality + homeowner focused engagement services

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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

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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

What is the importance of customer interaction with your mobile app?

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

Included in the Homeowners Pilot Program

Roost Homeowners Pilot ProgramWhat is included

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• 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

Policyholder Loyalty

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Nearly 40% of U.S. broadband households report that they would switch insurance

providers to obtain smart home products.

77% of Roost customers would be more likely to recommend their insurance company after receiving Roost sensor

47 NPS those who received their Roost device from an

Insurance Carrier

What has been your experience with the impact of Alert on retention?

•Results from water leaks and fires in users homes • Significantly less claims filed

• Lower claims cost

Reduction of claim cost impact

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Directional analysis of claims cost from people that installed a water leak detector and/or a smart 9V battery

• 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

Why Roost?Best combination of affordable loss mitigation & policyholder engagement

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Digital Transformation. Proactive Prevention. Value.

• 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

Why Roost?Best combination of affordable loss mitigation & policyholder engagement

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Digital Transformation. Proactive Prevention. Value.

What impact have you seen on claims cost? Any final thoughts?