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INSURANCE ON THE GO LTD Insurance on the GO is set to be an online Insurance Aggregator

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Irene Mugure Nderitu is the sole founder, CEO &/ team member of  Insurance on the Go Ltd .  It is  an  online insurance  aggregator  project. The ideation was a result of years  of engagement in the insurance industry and the  realisation that there exists an opportunity within the insurance industry to sell insurance online.  Irene Mugure Nderitu has an MBA in Strategic Management and a Certificate of proficiency in Insurance (COP-Kenya). The COP certification is the minimum requirement to act as an Insurance intermediary in Kenya. Notwithstanding, Irene Mugure Nderitu has over 10years cumulative experience in the insurance brokerage service industry and has over time appreciated the opportunities and  challenges of the insurance sector in  Kenya. Irene Mugure Nderitu is analytical, dynamic, resilient and  has an  entrepreneurial spirit.  The necessary skillset to oversee the Insurance on the GO start-up.

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Declining sales turnover and business profitability. This is made worse by the low uptake of insurance in Kenya. Currently, the market penetration is below 3% across the insurance industry. The current Covid 19 social distancing measures are also  posing a challenge to the sales efforts in the  industry  as  the insurance companies have long depended on the traditional face to face distribution models to sell the insurance products.  Further, with the current lockdown measures across the region,  have reawakened the  realisation that  business models  have to be reinvented  not to mention the need  to reorganize the workspaces. An increasingly discerning tech-savvy consumer. Consumers are increasingly making online purchases and are looking for solutions in a way that is convenient and efficient for them .

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The general public has little knowledge of the benefit of insurance and the various insurance products on offer. T he  potential consumer wants information; to be educated on the various insurance products available for their desired need/insurable financial risk, information on the various insurance products  offering  by  the local  principal insurance companies, the significant product features/benefits, the respective premium payable and a pay platform that allows different payment modes. Also additional resources such as customer support/claims advise. There  are very few intermediaries offering a seamless insurance ecommerce platform.  Also the existing intermediary ecommerce platforms do not offer a wide variety of insurance products. They focus mainly on motor  insurance which is mandatory for motor vehicles  and a few additional personal insurance products. The pay portals are also limited in nature. On the other hand, approaching a principal insurance company online portal, negates the benefit of independent and informed choice based on alternative insurance products available in the market that would be provided by an insurance aggregator .

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Taking into consideration the low market penetration and declining sales, the principal insurance companies (customers) are receptive to the additional sales/distribution channels as provided by Insurance on the Go Ltd which would provide a platform for new insurance business as well as client retention by way of subscriptions. Consumers on the other hand are increasingly becoming discerning and tech savvy. Many are turning to the internet for information and online purchases. Notwithstanding, consumers are under pressure to cut down on expenses and focus on the essential products/services due to the current economic downtown as a result of the pandemic. That said, the consumer does not wish to be left financially vulnerable and is receptive to taking up insurance and more so on an online insurance platform. Even better if the platform gives the user an opportunity to make an informed choice. An online platform that is independent, informative and offers a wide range of insurance product categories. Also an online platform that would not only address convenience and efficiency of making online insurance purchase but also  addresses  the lockdown restrictions/ protocols placed due to the pandemic.

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Target Market Type 		: Existing Insurance market Market Segment 		 	:  Principal Insurance Companies Basis of segmentation	 	: Principal Insurance Companies Long term (Life) & Short                                                                         term General (Non Life) Insurance Companies  Customer segment 		 	:  Principal Insurance companies engaging in General Short term (Non                                                                          Life) and based in Nairobi, Kenya.   Niche market 	 Principal Insurance companies engaging in General Short term (Non Life), based in Nairobi Kenya,  that have no digital/ limited digital presence and subsequently no/little online sales. Have the overall need to increase their sales and  sub sequently  increase business profitability. TAM & SAM The  current number of mobile data subscribers  according  to  the Communications Authority  of Kenya (CAK), stands at 40.9 million and is  expected  to grow to 60.0  million subscribers  in 5 years.  The population in Nairobi on the other hand is reported to be over 8million persons. 			 While leveraging on the mobile data subscribers, the estimated TAM is arguably over 40 million while the SAM is over 8 million consumers. On the other hand, the TAM of customers is over 40 insurance companies whilst the SAM is over 20 insurance companies who have no digital presence &/limited digital sales platform

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A distribution channel that has the significant potential to increase sales and subsequently business profitability A  distribution channel that would increase the current insurance market  penetration  of less than  3%  by leveraging on technology and increased online/mobile purchases across the region. A distribution channel that would address the current  social distancing measures  as opposed to the traditional  face to face distribution models to sell the insurance products .   A distribution channel that would address the increasingly  discerning tech-savvy  consumer, as the consumer is looking  for solutions to manage their risk in a way that is convenient and efficient for them.

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An online insurance platform that provides information/educates on insurance and the relevant insurance products for each consumer segment as provided by the customer. An online insurance platform that provides a wide range/ variety of insurance products to address the wide spectrum of the consumers and insurance products categories/types readily available from local principal insurance companies. An online insurance platform that allows one to get a quotation at NO obligation  for  the desired insurance product. An online insurance platform that allows online purchase through the integrated pay portal/ gateway with varied pay options. An online insurance platform that allows purchase of insurance while addressing  the current social distancing measures as opposed to the traditional face to face meetings.

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Chart, pie chart

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1 . Increase sales turnover & business profitability 2. Increase market penetration 3. Address the social distancing measures that are limiting the face to face  meetings.  4. Rea ch a growing online sales  customer base 5. Increase insurance uptake

1.Declining sales turnover & business profitability 2. Low insurance uptake 3. Market penetration below 3% 4. Social distancing measures a challenge to the existing face to face  distribution channel 5. An increasingly discerning & tech savvy customer who is increasingly choosing to make online purchases

1 . Additional distribution and sales channel 2. Digital marketing channel 3. Tap into a growing online sales customer base 4. Online sales 5. Digital presence 6.. Get reviews that will provide timely feedback on service &/product

www.insuranceonthego.org An  online insurance ecommerce platform that leverages on the growing online purchasers An online insurance portal that provides insurance information, insurance quotations at NO obligation to the consumer and an opportunity to purchase insurance vide the pay portal

1 . Inclusion  of  customer  product  and opportunity for online purchases 2. Opportunity for increased  sales & business profitability 3. Opportunity for  increased insurance uptake  by leveraging on digital sales and technology 4. Sales  platform/distribution channel that is not limited by the social distancing measures

1. Digital  presence &/promotion of  products  2. Timely  reviews &/feedback on product &/ service 3.  versatile  ecommerce platform with a wider product  layout with the option for add on from the back end 4. Distribution channel available to consumers at their convenience

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www.insuranceonthego.org Insurance on the go is an online insurance ecommerce platform that allows consumers to purchase principal insurance products (customer). Insurance on the go ecommerce platform is set to provide basic insurance product information based on the various client/consumer segments. Notably, most of the general population is not familiar with insurance products nor the basic cover provided. The platform thus educates the consumer of the insurance products available under their respective client/consumer category hence assisting the consumer in making an informed decision. Further, the platform informs  consumers  on insurable risks and respective insurance products.  Insurance on the go platform provides the consumer an opportunity to get a quotation on the insurance product that is of interest to them and also allows the consumer to purchase the insurance product through the pay portal. In addition, the insurance on the go platform provides information on related resources such as air and road rescue that would be of interest to the consumer.

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Insurance On The Go
C a insuranceonthego.org
Mail: org
fNSURANCE ON THE
go
Safeguarding your financial position
Home
Personal
Commercial
Industry Specific
Financial
Expatriate
P
o
WHY INSURANCE ON THE GO...
We assess your risk profile, Identify risks that can be insured, negotiate
terms and premium Without sacrificing level of protection.
facilitate premium financing and most importantly in the event
of a claim facilitate speedy and adequate settlement
6
Get a quote now
Activate Windows
@ ENG
3
14:56
W10/2021

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BASIC FINANCIAL PLAN: INSURANCE ON THE GO LTD Startup Costs KSHS   Fixed Costs (for a month) KSHS Salary per employee No. of employees   Variable Costs (per unit) Cost  Unit Rate Site development 850000   Salaries 120000 40000 3   Logistics 150 1 150 Registration, copyright  & license 15000   Rent 50000   Stationary 10 0.1 100 Furniture, fixtures & fittings 100000   Internet access 4000           Equipment 150000   Social Media Ads 5000                         0     Total 1115000   Total 179000   Total 160

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Resources section is potentially a source of secondary revenue streams. This include; air and road rescue services that are offered by third parties Social media marketing services on behalf of the principal insurance companies is also a potential source of secondary revenue stream. Other potential sources of secondary revenue streams include recruiting  a ffiliates  for affiliate  marketing and franchising the platform  to other insurance intermediaries

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Revenue (for 30 days)     Consumers (per day)  No. of days  Number of consumers 750   25 30 Units per customer purchased 1   Price per unit (MIN PER UNIT) 500   Purchase frequency during month 1   Total sales in units (no.) 750   Total sales revenue (in yr currency) 375000

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change this to your currency   BASIC FINANCIAL PLAN: INSURANCE ON THE GO LTD   Currency KSHS     Startup Costs KSHS   Fixed Costs (for a month) KSHS Salary per employee No. of employees   Variable Costs (per unit) Cost  Unit Rate   Burn Rate and Runway Period     Site development 850000   Salaries 120000 40000 3   Logistics 150 1 150   Your Monthly Fixed Cost (F11) 179000     Registration,copyright & license 15000   Rent 50000   Stationary 10 0.1 100   Your Monthly Variable Cost (K11*C19) 120000     Furniture, fixtures & fittings 100000   Internet access 4000             Your Monthly Operating Expense (P6 + P7) 299000     Equipment 150000   Social Media Ads 5000             Your Monthly Revenue 375000                   0       Burn Rate ( P8 - P9) -76000     Total 1115000   Total 179000   Total 160                     Your cash reserve (the money you have with you at your disposal)* 500000           Your Runway Period ( P12/P10) -6.57895     Revenue (for 30 days)     Consumers (per day)  No. of days    SUMMARY           Number of consumers 750   25 30   Revenue KSHS     Units per customer purchased 1     Sales 375000   * This is the amount of "cash" you have at your disposal that you decided to spend on the venture at the time of starting up.    Price per unit (MIN PER UNIT) 500     Others       Purchase frequency during month 1             Total sales in units (no.) 750     Total 375000     Total sales revenue (in yr currency) 375000                 Profit 76000         Breakeven 526.47         Pay back period (months) 14.67         Contribution (margin) 340.00

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CAC  = Sales & Marketing Cost per Month  = 5000 = 6.7 No of consumer/customers gained in that month 750 CLV  = (Total revenue earned from consumer/customer * Average customer/consumer  lifespan) - CAC  = 1493.3 NB. Estimated earnings from consumer during their stay (on average 3yrs) ARPU  = Total revenue earned in a  month  = 375000 = 500 No of consumer/customer in that month 750

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Pesabazaar  InsurAfrika Griffin Next Ins Bismart Insurance on the Go Product benefits What is the product Online Insurance Platform Online Insurance Platform Online Insurance Platform Online Insurance Platform Online Insurance Platform Online Insurance Platform Product offering - Personal Insurance Products 2 product offering 3 product offering 1 product offering 2 product offering 4 product offering 8 product offering - Commercial Insurance Products 1 product offering 2 product offering 0 product offering 0 product offering 0 product offering 5 product offering - Industry Specific Insurance Products 0 product offering 3 product offering 0 product offering 0 product offering 0 product offering 11 product offering - Financial Insurance Products 1 product offering 1 product offering 0 product offering 0 product offering 1 product offering 9 product offering - Expatriate Solutions Insurance Products 0 product offering 0 product offering 0 product offering 0 product offering 0 product offering 5 product offering How is the product different from the others  Offer premium financing Same     Same     Same     Affiliate/Agent onboard Wider product offering, resources & pay portal What is the price Same across the board Same across the board Same across the board Same across the board Same across the board Same across the board Any known drawbacks/limitations Pay Portal Pay Portal Pay Portal Pay Portal Pay Portal Pay Portal

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Wide insurance product offering to serve a wider customer base. A dynamic pay platform. Dynamic insurance ecommerce platform. The platform is versatile and can be adjusted to accommodate additional product offering. Social media marketing Organised information on insurance products Targeted marketing of insurance products

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PROBLEM  & ALTERNATIVES Declining sales & business        profitability Address lockdown & social distancing protocols Leverage on technology to address the growing number of tech savvy consumer ALTERNATIVES         Traditional face to face            distribution models by           internal & independent           insurance intermediaries          not using online           platforms Marketing personnel          &/agencies SOLUTION  A  d istribution channel that would increase insurance uptake, market penetration, sales turnover & business profitability by leveraging on digital sales & technology A distribution channel that would address social distancing measures A distribution channel that meets the need of a tech savvy consumer Digital presence/  recognition Online sales Reviews UNIQUE VALUE PROPOSITION Wide insurance product offering & product information Versatile  ecommerce platform – easily add products from the back end Dynamic pay platform Social media marketing HIGH  LEVEL CONCEPT Mimic Amazon/ Booking.com  Insurance On the Go ecommerce platform whose offering will be insurance UNFAIR ADVANTAGE  Founder experience Versatile ecommerce platform Wide Product information   & offering CUSTOMER SEGMENTS  NICHE   General (Non Life) Insurance companies with no/ limited ecommerce platform  to market their respective insurance products In particular, Insurance companies that have reported declining sales and business profitability EARLY ADOPTERS General Insurance companies that have no  digital presence of their own & hope to achieve increased sales by leveraging on technology & available ecommerce platform KEY METRICS    Sales Profit Breakeven analysis Burn rate CAC, CLV, ARPU  CHANNELS   Online Mobile  phones Chat &/ Messenger Emails Social Media 1-2-1  &/ zoom meetings COST STRUCTURE   Start  Up  costs; Site development, Registration, copyright & license, Furniture, fixtures & fittings, Equipment Fixed costs; Marketing & social media advertising costs, Hosting,  internet access, salaries, rent,  Variable costs; logistics,  stationary REVENUE STREAMS  Commissions from insurance sales  & subscription/renewals Possible Secondary Revenue Streams;  bonuses, commissions from additional resource sales, social media marketing, affiliate marketing, franchising

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Roles identified for hiring Key responsibilities of this role Key skills & experience that the candidate should have Where to look for such candidates Hiring mode Customer service representative Customer service Knowledge  of General  insurance  products and experience in handling clients Online job search platforms Contractual Underwriting Collecting & input on insurance products Knowledge & experience in underwriting General insurance  Online job search platforms Contractual Claims Processing of claims Knowledge & experience in processing General insurance claims Online job search platforms Contractual ICT & Social Media support IT support, social media ads & engagement Knowledge & experience in IT and social media engagement Online job search platforms Contractual Finance &/ Accounts Collating sales, process payments & ensure collection of commissions from customers Knowledge & experience in processing General insurance accounts Online job search platforms Contractual Logistics Facilitate delivery of documents Good communication, basic education & fair knowledge of Nairobi Online job search platforms &/ outsource a courier company Contractual Management &/ team leader Managing the team Knowledge & experience in managing an insurance brokerage Self/ Founder/ CEO Contractual

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Hiring Pitch “ Insurance on the Go Ltd is looking to hire on contract tech-savvy, efficient, reliable and credible individuals to help create an exceptional insurance  aggregator & brokerage  firm whose vision is to be the preferred online insurance ecommerce platform in the region with the potential of getting full time formal employment &/ equity shareholding”

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Positioning Statement , Branding, Logo & Social Media Handles

Positioning Statement For General Insurance Companies who have limited &/ no digital presence, Insurance on the Go provides a digital ecommerce platform that  allows the customer to showcase product offering, make online sales and increase business profitability. The platform  encompasses  the varied insurance product information for the different consumer categories,  the wide  insurance product offering,  opportunity to get online  quotation at no obligation and  facilitate  premium payment processing. The customer thus leverages on  an   existing digital distribution channel  &  technology ,  to achieve business objectives whilst addressing  the low uptake of insurance, social distancing protocols and is able to reach a growing tech savvy consumer to bolster business  turnover . Current Social Media Handles/ Channels Website	 (Active) 	:	 www.insuranceonthego.org Twitter	 (Active) 	:	@INSURANCEONTHE1 Facebook 	 (Dormant) 	:	Insurance On The Go Instagram	 (Dormant) 	:	insurance_go Tel / WhatsApp 	 	: 	+254 722 512192 Email	 (Active) 	 	:  	info@insuranceonthego.org

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“Insurance on the Go Ltd provides General  Insurance Companies who have limited &/ no digital presence  an opportunity to showcase their products on an insurance digital  ecommerce  platform . The  customer is forthwith able  to leverage on the existing digital distribution channel and technology for potential online sales, address low uptake of insurance, low market share, social distancing protocols and reach a growing tech savvy consumer to bolster business profitability.”

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INSURANCE ON THE GO LTD - SALES FORECAST FOR YEAR 2022 MONTH January February March April May June  July August September October November December Total Sales  Forecast (Kshs.)    375,000     375,000      375,000   375,000    375,000    500,000      500,000      500,000          500,000     375,000        375,000        375,000     5,000,000  Annual Sales  Forecast (Kshs.)    5,000,000  NB. Fair estimate in light of forthcoming elections