Insify

• Waiting for their data pack
• Aindriu to price (SME Casualty, custom coverage)
• Axeria offered terms
  • accepted
• Insify will come to Lyon in September
• Original policy review - Pecuniary loss while driving
• Target inception 1st Jan 2025
• Triage/Pricing memo
• Visit in Lyon
• DD in NL / finally in Lyon
• Issue / sign Term Sheet
• Get their financials
• Renewal Policies
• They cannot handle BI claims - Sort out alternatives
• Get their counts of BI claims - per monthly
• Sent TOBA to provide them this week
• ISK to take over - call with Thomas on 5/11
• Change/rephrase clause PI that can be interpreted as Cyber (agreed for FR/DE assumed risk for NL)
• Check of Casualty XL exclusions versus Insify original policies
• Transfer process for Germany/NL/FR agreed
• Get exclusion removed on reinsurance XL treaty
• Review DE product wording
• Propose rate increase for CHF 10m GTPL in DE to reduce chances of renewal of these policies / new policies -> these policies will not be renewed
• Wait for the comments on TOBA
• Confirm whether reinsurer could include limited premium for Dec (EUR 100k GWP) for NL and FR only (DE excluded)
• Sign TOBA
• Get Casualty XS quote
• Finalized BDX and compliant reporting set-up
• Communication sheet finalized
• MRP development kick-off for France
• Launched NL new business on 30.12!
• Launch FR
• Get first BDX (15.1)
• Visit Insify 5th Mar. (combine to visit CoolBlue claims)
• Pending list of activities, and underwriting guidelines
• Awaiting MRP BP and approach
• Sign transfer agreement with Great Lakes
• Kick-off renewal of existing business in NL from Great Lakes onto AXERIA
• Launch DE
• Audit AIKAN
• MRP Pricing/Underwriting under review
• Discuss Assistance/Legal protection (IT AXERIA) - feedback Europe Assistance / Solucia declined (Insify will use COVEA)
• Slight expansion of scope / coverage Liability
• request tech activities expansion.
• Wording MRP
• Amendment TOBA including MRP
• Good production on GL (transfert NN)
• Wave 1 activities expansion
• Augmentations tarifaires
• Security - NL/FR - questions sent
• Addition of Ireland
• NL - augmentation de tarif (validation Benjamin)
• Sweden
  • Pricing
  • Wordings
  • UW Memo
  • POG
  • Reinsurance
  • Claims management
  • Currency / tax
• Cell - co-assurance / Axeria en réassureur
• WS - confirm dates in Amsterdam
• Data quality / BDX - under review (Socheat / Gael)

14.04.202

24.03.2025 MRP pricing

Insify still pushing to have 5m building reconstruction in the policy

18.03.2025 MRP pricing

Insify requested to increase limits on the mrp from 1m to 5m

offering total 2-2.5m including loss of revenue

17.12.2024 Weekly call

Transfer agreement, post renewal date.

--> delays caused to Munich Re ( Great Lakes).

termination agreement.

Policy is claims made basis, date of declaration.

--> Eventually we’ll have some IBNR.

-> launch date delayed to begin of January.

Insity: GL is blocking the transfer, Insify cant write policies in jan.

Currently: 50-->150 policies daily.

15.10.2024

Axeria prefers the non regulated transfer,

For the renewal there is a delay of 1 month or 2

Porfolio is going to be transfered at renewal in coordination with Great Lakes

Délai avec le pays bas, ca prendra un peu de temps sur la France

Insify : Serie B

28.08.2024

Meeting 1/07/2024:

Willing to have only one carrier for the full of Europe

Call on the 2nd/09

discussed about support on the decennial, --> subject to reinsurer approval

Terms agreed, willing to renegotiate commission rate ; Axeria offered PC they are gonna revert to us

16.07.2024

Offered terms, waiting for their decision

Meeting with Pricing Actuary 01.07.2024:

They are looking to transfer the whole book to another carrier.

current carriers:

Hixcox: Not in the mga

Wakam : small share in France, they have an offer.

Netherlands : Sliding scale is forbidden

Fixed commission for liability and property.

Annual review of the profit commission.

+1st year of higher comission to support IT and acquisition costs.

Fixed commission:

French perimeter

--> France only property insurance.

--> TPA in France.

--> For now only liability insurance.

--> Professional indemnity sold on as an add on to professional liability.

--> Short term to test include property in France, but still not defined, and bended to liability.

--> Orus and Hixcox, main competitors, with fewer rating factors ( only revenue and activity).

--> He expects 40% to 50% of property on this book.

--> Markets LR for liability, are higher ( 50%),.

--> 1 year of portfolio and France ( 700k €).

--> he sees low competition on the market.

--> Exposure tracking

--> Adverse selection ( conversion rate based).

--> Postal code only asked at subscription.

--> Competition has very little segmentation.

Netherlands and Germany:

--> Property is an add on on the liability.

--> New data containing cover limit, and sums insured.

--> main channel in France is the broker.

--> Claims frequency and Severity monitoring. Munich Re provides a view on the reserving of large claims values.

Hixcox:

--> He expects a 30% GLR ( all coverages).

Pricing:

--> Activity segmentation for every country.

-->Activity + revenue and headcount.

--> rating factors coming from Web-scrapping + adjustment from experience.

--> Inflation driven pricing adjustments.