The Dutch Insurance Exchange Introducing VNAB & e-ABS

1. The Dutch Insurance ExchangeIntroducing VNAB & e-ABS Michel Schaft

2. Dutch Insurance Exchange, active since 1598 Rotterdam Insurance Exchange: 1598 Amsterdam Insurance Exchange: 1611

3. Introducing VNAB VNAB (Dutch Insurance Exchange Association) is the Dutch organization of (Register) Brokers and Insurers (including authorized agents) active on the Exchange • 4 important ‘roles’: • Facilitating the marketplace (e-ABS) • Knowledge and knowledge sharing • Advocacy • Marketing and communication

4. How our local market works… Local and international insurers Dutch Insurance Exchange • Broker • Policy Issuance • Claims Handling • Clearing Insured Risk

5. Premium volume through e-ABS: 1,300,000,000 EUR per year *) a policy is underwritten by - on average - 3,7 insurers.

6. 30,000 claims per year

7. 37,500 bookings per month

8. Why change to a digital marketplace? Margins erode so focus on added value services & efficiency Technological advancements change of the businessmodels in the market Transparency is key supervisors claim a more active role

9. VNAB presents…

10. e-ABS is an integrated system that facilitates the co-insurance process between Brokers, Insurers and Loss Adjusters on Placement, Claims and financial processing (Clearing).

11. Our journey from a physical to a digital market place Starting gradual implementation e-ABS core team (appointed experts and external IT consultants) addresses all tenders A request for information was formulated Thorough discussions with VNAB members about functionality Content related and financial assessments results in advice to select the supplier Three suppliers where invited to submit a proposal Functional design made final Decision to start a digital marketplace

12. Gradual implementation towards successful usage of e-ABS Today: +/- 175,000 registered claims since 2008 +/- 950,000 booking lines since 2011 +/- 40 brokers, +/- 40 insurers and +/- 50 loss adjusters use e-ABS In 2012: +/- 52,000 active policy files Fully operational Clearing module operational Gradual implementation Placement module operational Claims module operational 2008 2009 2010 2011 2012 2013 2014

13. e-ABS: succesfully used for quite some time • In total +130 companies use e-ABS • In order to use e-ABS, companies have to be members of the VNAB • Membership starts at +/- EUR 3,000 (broker) and EUR 5,900 (insurer) • License fee e-ABS depends on role (broker/insurer): +/- EUR 2,200,- / 2,500,- per user

14. So..what does e-ABS do?

15. So... what does e-ABS do? • Webbasedsystem: • Accessible via webbrowser • Webservicesavailableforconnectionswith backoffice systems of insurersand brokers • System supports full placement, claims and clearing process

16. e-ABS works with three modules Placement: all processes needed to get cover and create & maintain a policy Clearing Placement Clearing: Booking of premium & claim amounts Create file Quotation procedure Complete cover Record agreements Policy version Policy versions of this process are the basis for claims Claims Notification of claims Loss adjusting Claim settlement Claims: all processes needed to issue and settle claims

17. DEMO Introducing the players Followers Loss adjuster Broker Client Lead insurer

18. How do participants see the benefits? “It is a system where parties can share information in a very efficient way and that allows insurers to comply more easily to the demands of their in- and external control systems” The biggest advantage of e-ABS is shorter throughput time. “It saves weeks on average per claims file. Furthermore it is my experience that 70% of the claims are finalized within 2 weeks." Gielijn Arends, Head of Claims Marine & Reinsurance Amlin Europe Herman van de Wetering, Claims specialist Aon Corporate Solutions Going back is no option for Peter. “For that this unique system is offering too much advantages: a policy file accessible on 1 location for everyone and the efficiency benefits of the financial processing of Clearing” “Especially as to follow insurer it is good that thanks to e-ABS you are quickly aware of the current status of the claim, and that you can see all the relevant correspondence. You can directly adjust the claim policy accordingly ” Peter Bastiaans, Head acceptance Cargo Transport insurance HDI Gerling Erik Boers, Team Leader Claims Netherlands Zurich Global Corporate Benelux “As Lloyd’s coverholder I can show my auditors and other business partners in a good and relatively easy way how transparent the way of working is for placement, claims and financial clearing. Also it shows how we can track progress, even if we are not the leading party.” “In the past, the survey report needed to be sent 8-fold to the broker, but now all the parties involved have insight in progress directly” Hans de Hoog, general manager Lenkeek, Laarman & De Hosson Duco Teijema, Branch & Marine manager Netherlands Torus Insurance “..other good points are the efficiency, the archive function, security and the fact that the system is user friendly, not connected to a physical workspace and that it supports chains integration” Jack van Nielen, operations manager AON risk solutions

19. e-ABS is efficient “It is a system where parties can share information in a very efficient wayand that allows insurers to comply more easily to the demands of their in- and external control systems” The biggest advantage of e-ABS is shorter throughput time. “It saves weeks on average per claims file. Furthermore it is my experience that 70% of the claims are finalized within 2 weeks." Gielijn Arends, Head of Claims Marine & Reinsurance Amlin Europe Herman van de Wetering, Claims specialist Aon Corporate Solutions Going back is no option for Peter. “For that this unique system is offering too much advantages: a policy file accessible on 1 location for everyone and the efficiency benefits of the financial processing of Clearing” “Especially as to follow insurer it is good that thanks to e-ABS you are quickly aware of the current status of the claim, and that you can see all the relevant correspondence. You can directly adjust the claim policy accordingly ” Peter Bastiaans, Head acceptance Cargo Transport insurance HDI Gerling Erik Boers, Team Leader Claims Netherlands Zurich Global Corporate Benelux “As Lloyd’s coverholder I can show my auditors and other business partners in a good and relatively easy way how transparent the way of working is for placement, claims and financial clearing. Also it shows how we can track progress, even if we are not the leading party.” “In the past, the survey report needed to be sent 8-fold to the broker, but now all the parties involved have insight in progress directly” Hans de Hoog, general manager Lenkeek, Laarman & De Hosson Duco Teijema, Branch & Marine manager Netherlands Torus Insurance “..other good points are the efficiency, the archive function, security and the fact that the system is user friendly, not connected to a physical workspace and that it supports chains integration” Jack van Nielen, operations manager AON risk solutions

20. e-ABS is transparent “It is a system where parties can share information in a very efficient way and that allows insurers to comply more easily to the demands of their in- and external control systems” The biggest advantage of e-ABS is shorter throughput time. “It saves weeks on average per claims file. Furthermore it is my experience that 70% of the claims are finalized within 2 weeks." Gielijn Arends, Head of Claims Marine & Reinsurance Amlin Europe Herman van de Wetering, Claims specialist Aon Corporate Solutions Going back is no option for Peter. “For that this unique system is offering too much advantages: a policy file accessible on 1 location for everyone and the efficiency benefits of the financial processing of Clearing” “Especially as to follow insurer it is good that thanks to e-ABS you are quickly aware of the current status of the claim, and that you can see all the relevant correspondence. You can directly adjust the claim policy accordingly ” Peter Bastiaans, Head acceptance Cargo Transport insurance HDI Gerling Erik Boers, Team Leader Claims Netherlands Zurich Global Corporate Benelux “As Lloyd’s coverholder I can show my auditors and other business partners in a good and relatively easy way how transparent the way of working is for placement, claims and financial clearing. Also it shows how we can track progress, even if we are not the leading party.” “In the past, the survey report needed to be sent 8-fold to the broker, but now all the parties involved have insight in progress directly” Hans de Hoog, general manager Lenkeek, Laarman & De Hosson Duco Teijema, Branch & Marine manager Netherlands Torus Insurance “..other good points are the efficiency, the archive function, security and the fact that the system is user friendly, not connected to a physical workspace and that it supports chains integration” Jack van Nielen, operations manager AON risk solutions

21. e-ABS is easy to use “It is a system where parties can share information in a very efficient way and that allows insurers to comply more easily to the demands of their in- and external control systems” The biggest advantage of e-ABS is shorter throughput time. “It saves weeks on average per claims file. Furthermore it is my experience that 70% of the claims are finalized within 2 weeks." Gielijn Arends, Head of Claims Marine & Reinsurance Amlin Europe Herman van de Wetering, Claims specialist Aon Corporate Solutions Going back is no option for Peter. “For that this unique system is offering too much advantages: a policy file accessible on 1 location for everyone and the efficiency benefits of the financial processing of Clearing” “Especially as to follow insurer it is good that thanks to e-ABS you are quickly aware of the current status of the claim, and that you can see all the relevant correspondence. You can directly adjust the claim policy accordingly ” Peter Bastiaans, Head acceptance Cargo Transport insurance HDI Gerling Erik Boers, Team Leader Claims Netherlands Zurich Global Corporate Benelux “As Lloyd’s coverholder I can show my auditors and other business partners in a good and relatively easy way how transparent the way of working is for placement, claims and financial clearing. Also it shows how we can track progress, even if we are not the leading party.” “In the past, the survey report needed to be sent 8-fold to the broker, but now all the parties involved have insight in progress directly” Hans de Hoog, general manager Lenkeek, Laarman & De Hosson Duco Teijema, Branch & Marine manager Netherlands Torus Insurance “..other good points are the efficiency, the archive function, security and the fact that the system is user friendly, not connected to a physical workspace and that it supports chains integration” Jack van Nielen, operations manager AON risk solutions

22. Future steps • Growth in volume • Increase usage • Increase added value • Functionality • Increase efficiency of using the platform • Data sharing • Value chain integration

23. e-ABS key take aways The VNAB is the Dutch organization for national and international brokers and insurance companies active on the Dutch Insurance Exchange. e-ABS is an integrated system that facilitates the co-insurance process between brokers, insurers and loss adjusters on placement, claims and financial clearing. e-ABS is used by 130 parties handling EUR 1.3 BIO premium volume per year, 30,000 claims per year, 37,500 bookings per month • e-ABS has three integrated modules: placement, claims and clearing. • The value of e-ABS: • Saves a lot of time and money • Offers a better overview and more transparency • Increases quality • Is user friendly Want to know more? Please visit us at the information stand or visit www.VNAB.nl/lloydstechday