Dalma

Intro call Alban/SSE 4th of april

1. Launch date: May 1st
2. Target EPI Eur 8M

Tasks:

• Catch up with them - Seb
• Talk to HR - SSE
• Signed NDA
• Waiting for the initial information ; chase them - SSE
• Revert with data request OR high level indication at this stage if feasible
• JCA to perform analysis.
• Call and granular data request. (28.08.2024)
• Make sure we get correct data and true intention
• Data received to be reviewed by Juan
• A deal discussion call to be scheduled
• Circulate new Term Sheet with re-pricing clause
• Awaiting Term Sheet with DALMA feedback
• Awaiting projections for upfront commission and working capital from DALMA
• Discussion around exclusivity
• discussions about the pricing review clause and provisional commission
• Get final Term Sheet
• Signature Final Termsheet (amend it)
• Deposit Account and Pledge
• Signed Termsheet
• Due Dil on 26-27th of March (focus on pricing)
• French rates approved
• France go live on 6/5
• German rates to be approved (Juan)
• Lawyer stamp needed for Germany
• Approve new pricing
• Include liability
• As if for 2024 to approve new rates
• Authorise Germany (pending legal)
• LOC in place by month 3
• Meet Isabelle Vidal
• Sign TOBA
• NB rates France approval for 3 months and develop a GLM
• Waiting for conclusion ACPR visit
• Work with Dalma on the GLM
• New pricing discussion/GLM to be organized between Juan/Socheat/Benjamin/Isabelle
• Ask GLM price versus current tariff
• Make our mind on ultimate loss ratio and is the slide sufficient to protect our margin - Benjamin
• Audit request
• Prevention is not insurance (ACPR) - to be excluded from policies

05.08.20245

New rates submitted.

28.08.2024

They expect a tender, expected launch date Q1.

CEO Co-Founder Alban De Preville (32 ans)

EM Lyon

Launched 2 e-commerce in Africa and Maghreb (local kind of Amazon)

Foodtech (Frichti) – Sales Directot for 4 years

Partner was COO at Frichti

They launched Dalma together 3 years ago

Insurance for animals: High growth market ; emotionnal relation with the animals increases and vet costs are increasing

Number of domestic animals increases

Competitors :

SantéVet 150M€

AssurOPoil 100M€

lack of digital approach

Dalma offers taylor-made insurance products and quick payment of vet costs (24 hours all automatic)

Hedge : service and quick payment, client experience, vet community (health, prevention, nutrition, behavior)

45 000 clients ; 17M€

Modèle B to C first 24 months (50% organic growth through “bouche à oreille” and 50% lead)

Today 50% organic, 30% via reco B to B (vetos et éleveurs) 20% leads

only éleveurs are paid, vet do it for free

Pricing model: race (strong, medium, fragile), age, race, geographic area to come

40 employees in France and Germany (start 4 months ago)

2 financing round Seed and Serie A

Carriers:

98% Seyna

2% Wakam on new products but very deceptive service want to stop

Yound and old animals ; bad loss ratio

Historical L/R : 71% S/P which improves every year

Santévet / AssuroPoil : S/P 55%

Excellent retention rate >90% en prime ; 85% customer

Looking for new carrier in Q4

Claim insourcing

Claim

Accident/Health/GTPL (500K€)

Average monthly premium 30€

Pretty amazing retention

Launch Germany 6 months ago as a branch

High growth market, low penetration rate

In Germany partner with first vet

Step1: distribution

Step2: telehealth, pricing machine, claim insourcing

Amazing NPS

Improve growth margin

80+ growth margin

Claims handling fee: down from 10€ per claim to 1€ per claim thanks to AI and automatization

Dalma= Tech companies to become fully automated

23 to 25M€ in 2024

2 guys full time working on pricing

Breakeven in France in 2025

Investor fund

Norzone

Seyna/Swiss Re: Gaël Certin-Agro

Looking for new carrier able to:

Scale across Europe

Partner who can help innovate

Good terms with at least identical

Actuarial expertise/human fit

22% average com + PC