The Corporate Venture Capital-as-a-Service Influencer

#Digital #RetailTech - interesting map about how to levarage tech for financial services?

I am tracking "Drive to Store" and "Sales Assistant" for #Fintech #Insurtech from #RetailTech. Any ideas?

#Insurtech, #Proptech, #WealthTech - Prioritizing Innovation in Your Business Strategy with @DeniseGarth and @Minh_Q_Tran

Hear from Denise Garth and Minh Tran as they discuss the importance prioritizing innovation plans in today’s business strategies.

Podcast

 

#Insurtech #Gartner #HypeCurve - what are the emerging technologies in the insurance sector

#Insurtech #InsurtechChat - Ten new customer realities from Covid-19 for insurers to address. Join us on Twitter on June 18th

#Podcast #Insurtech #VC #Covid19 - How VCs spot disruptive tech startups that are making a positive impact

SPOTIFY PODCAST HERE

How #VC think of #Covid19 = why #Cash is #King now (thanks Chausson Finance)

Global #Trends in Investor Relations - why #IR should focus on #Impact #Investing? @OdysseusPartner @Minh_Q_Tran

 

#Insurtech #Conference = happy to speak tomorrow at the Global Insurtech Summit (@odysseuspartner, @minh_q_tran, @Fintech_Global)

Q&A Global Insurtech Summit - Driving Insurtech Growth through Partnership & Investment 

 

Minh Q. Tran shared his views on the partnerships between Insurtech startups and insurance comapnies in a panel discussion at Global Insurtech Summit in London, on March 3, 2020.  

 

Q1 - Is partnering/working with startups a productive and efficient way to innovate? 

A1 - Yes, CB Insights’ research shows that from 2017 to early 2019, there have been more than 180 partnerships struck between insurers and tech companies.  

 

(Source https://home.kpmg/xx/en/home/insights/2019/08/get-the-most-out-of-your-insurtech-partnership-fs.html) 

 

 

(Source https://www.cbinsights.com/research/insurtech-partnerships/) 

 

Q2 - What are some of the successful and not so successful ways that organizations are partnering with new technology players? 

A2 – The most successful partnerships are around distribution in the past few years because the insurance B2B model has shifted to a B2B2C. Not successful with technology is so advanced that there is no internal capability inside the insurance company. For example, AI startup with no data scientist in insurance company.  

 

 

(Source https://insuranceblog.accenture.com/new-players-and-partnerships-disrupt-insurance-distribution) 

 

Q3 - What's the value of partnerships with new/innovative tech players? How do you measure this? 

A3 – Return of Strategy is the right measure on top of RoI. The merge of asset management with new insurtech technology as an example in Odysseus Partners 

(Source : https://www.amazon.fr/dp/B002ZZ3Z50/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1) 

 

Q4 - How can the industry evolve to be more effective partners?  

A4 – VCaaS which means VC-as-a-service is a new service for insurers. Techmind, Bain Capital, Redstone, and Seed Founders are players.  

 

 

(Source : https://www.bain.com/vector-digital/vc-as-a-service/) 

#Private #Equity - Trends from Preqin (#insurtech #impact)

#Green #Finance - Top 10 Influencers and Institutional Accounts - @OdysseusPartner @Minh_Q_TRAN

We issue our 1st list of influencers and instituational accounts.

Method is a mix of followers and social authority on social networks.

We will start to monitor and issue on a monthly basis.

 

#Impact #Investing - Why it is a growing asset class and how to scale it forward / @OdysseusPartner @Minh_Q_Tran

Picture: Mark Koch

KEY POINTS 

1. Impact investing landscape in Europe is still difficult to size due to limited consensus on the definition, lack of statistical data and absent impact measurement system 

2. Welfare policy and economic development state - main factors determining the heterogeneity of European impact investing markets  

3. Key market building driver: collaboration between public and private sectors 

4. Next steps for scaling the impact investing market in Europe  

 

The impact investing landscape in Europe is still difficult to size...  

Defined as an efficient blend of strong, positive, environmental and social impact alongside financial returns in an investment, Impact Investing is still considered to be a new trend in the investment world.   

Investing in opportunities in both developed and developing markets to support the economic and social development of disadvantaged communities, in areas such as health, education, housing, and financial and economic inclusion, or supporting worthwhile social objectives or environmental objectives such as encouraging diversity, developing sustainable agriculture or clean technologies with an intention to measure and manage social and environmental impact, remains a peripheral sustainable and responsible investment (SRI) strategy to most investors in Europe.   

 

Source: Eurosif 

 

However, it’s importance is rapidly increasing: according to Eurosif, impact investing continues to grow registering a 6-year CAGR of 52% in period of 2011-2017.  

 

Source: Eurosif 

 

For 2019, market size estimates vary from as low as 11,8 billion Euros (Global Impact Investor Network, GIIN) to as high as 108,6 billion Euros (Eurosif), which shows that defining European impact investing market size unilaterally is challenging...  

 

 

Source: https://impactdatabase.eu/read/ 

 

…due to three key factors   

Limited consensus on the definition. One of the reasons for such radical difference between estimations is limited consensus among mainstream investors and specialized niche players on the definition of impact investing. The lines between different forms of Sustainable and Responsible Investing (SRI), ESG Investing and Impact Investing are still quite blurry, definitions and calculations vary, which demonstrates that the market is yet to mature.  

Lack of reliable aggregated statistical data. That is a known weakness of the on the impact investing market in Europe. GIIN might seem to be one of the most reliable sources for Impact Investing market data, however, it only conducts annual surveys amongst its member list, which does not include all impact investors and not all those on that list might be dedicated to only impact investing. Other sources, such as Eurosif, do report on a broader SRI market, however, recent comprehensive studies on impact investing in Europe in particular are difficult to find.  

Absent unified impact measurement system. Since there are no internationally standardized regulations for impact measurement in investments, it is quite easy to self-proclaim as an impact investor, or not categorise yourself as one, which makes it difficult to keep track of all impact investors.  

 

Welfare policy and economic development - main factors determining heterogeneity of European markets   

Western Europe dominance. In Europe, impact investing markets vary greatly from country to country. Impact investors have more established presence in Western Europe compared to Eastern Europe due to older traditions of institutional investing, presence of well-established financial actors such as pension funds and insurance companies as well as more engaged action against social and environmental issues.  

According to Eurosif, impact investing is notably increasing in Spain and Italy, with positive signs observed in Sweden, Belgium and the UK. In case of the Netherlands, the sharp fall in Eurosif study is “largely explained with a respondent gap rather than a shift in trends”. The country remains one of the most important hubs for developing and implementing the way forward for impact investing.  

 

 

Source: Eurosif 

 

UK’s leading position. In Anglo-Saxon countries with liberal welfare states such as United Kingdom, impact investing market has been developing much quicker and took a leading position with players such as Big Society Capital. In market since 2012, it manifested as an effort of the UK government to efficiently provide capital for the existing intermediaries and build the market; it remains one of the key British players in the field.   

New impact investing hub - Paris. However, due to Brexit taking place, more impact investors are seeking to establish their presence in the continental Europe. Paris, for example, has become an important hub for Impact Investing, with many impact related events taking place in the French capital. Paris Impact Investing Association has taken efforts to create an ever-evolving ecosystem map encompassing at least 30 active impact funds in Paris and beyond further fortifying its position as new impact hub.   

Largely unexplored Eastern and Central Europe. While the iron curtain is long gone, the difference between stages of development in impact investing market between Western and Eastern Europe are showing that its effects are still felt. According to the last GIIN Annual Impact Investor Survey (2019), we observe that the number of headquarters of impact investing funds in Eastern Europe combined with Russia and Central Asia reach only 1%. While that is not an indicator of a market size, it does demonstrate that local impact investing market has hardly started to form, as the main investor focus in this region has been economic growth in the past decades.  

Eastern Europe, Russia & Central Asia combined: 1% 

Source: https://thegiin.org/assets/Sizing%20the%20Impact%20Investing%20Market_webfile.pdf 

 

That does not mean, however, that the market is non-existent. Deloitte has taken on an effort to measure market readiness in Eastern and Central Europe by introducing its Social Investment Leveraging Index. It has indicated that “the highest score was calculated for the Baltic States (50.3), compared with 40.7 in the Balkans and 50.1 in the group in which Bulgaria, Moldova, Romania, and Ukraine were included.” (Deloitte). Such scores show, according to Deloitte, that venture philanthropy and social investments would be worthwhile.  

  

Collaboration between public and private sectors as a key market building driver   

While it seems that public sectors are often lagging behind and innovation is largely driven by the private sector, there is great interest for public sector to engage in facilitating impact investing market growth as it contributes not only to the economic development and drives metrics such as GDP up, but also solves social and environmental issues. Increasing public sector efforts have been observed across Europe not only on the national level, but also EU-wide.  

 

France. One way to explain the boom of impact investors in Paris, for example, is the push from the French government. Article 173 of the Loi n°2015-992 of August 17, 2015 related to the energy transition for green growth imposes impact measurement for bigger institutional investors. This law has indeed driven more investors to report on their impact, however, gaps are still noticeable: since no official methodology has been proposed, the quality of impact reports varies greatly, according to Novethic.  

Germany. Development of impact investing market has been slower in countries with strong welfare state tradition such as Germany due to “the fact that mutual adaptation between SII (Social Impact Investing) and existing state-sponsored social welfare ideals has yet to take place.” (Bertelsmannstiftung). Nevertheless, we can observe recent market-building initiatives resulting out of the cooperation between public and private sectors. According to GSG research, Germany’s nascent impact market is gaining momentum: “existing funds have raised more capital, foundations have become active impact investors, existing intermediaries are developing new investment products, impact-driven organizations are increasingly securing investment and the market has stabilized.”   

Germany’s challenges such as a small investor base, few intermediaries and little diversification, a limited number of investment products, few investment-ready impact-driven organisations are being actively tackled by a growing network of supporters and advisors, positioning it as an opportunistic growing market to be watched in 2020.  

 

Europe. New EU regulatory efforts such as EU taxonomy for sustainable activities will undoubtedly stimulate EU markets, including the very youngest ones like Eastern Europe. But it will take more than EU’s efforts for these markets to fully mature: stakeholder coalitions and ecosystem building efforts by local entrepreneurs, investors and supporters are necessary for these markets to become investable. 

 

Next steps for impact investing market in Europe   

There is no doubt that impact investing is becoming a very important part of the traditional investing landscape. With increasing amounts of proof that purpose-driven projects have increased financial value (Forbes), more and more institutional investors are turning towards investing in such enterprises. However, for impact investing market to flourish, few key market building milestones must be passed.   

According to PlusValue research, key priorities for impact investing agenda are, unsurprisingly, establishing common framework for impact measurement, increasing public engagement in impact investing and defining of impact investing itself. This can be achieved by a closer dialog between private and public sectors, awareness raising and active participation of all stakeholders. This would lead not only to accelerated market development in the under-tapped areas of Europe, but also scale it further all over the continent.  

  

Source: PlusValue  

 

Research by @OdysseusPartner / @MortaKaz / @Minh_Q_Tran

 

About Odysseus Partners:   

Odysseus Partners is an Asset Builder. Odysseus helps asset allocators source new Fintech startups, who are utilizing innovative technologies to assess new alternative asset classes. 

Odysseus then enables investors to invest directly into equity investments, as well as to co-create alternative funds.  

Odysseus thereby provides exposure to new pools of assets being created to support emerging busine=sses. Examples include covered bonds, insurance linked-securities and private debt, among others.  

Besides investing, Odysseus also co-develops build-up strategies with these companies. The objective is to accelerate their scalability and to create business synergies through tech integrations and consolidations. 

Founded in 2018, Odysseus works with family office and institutional fund managers who wish to invest at scale in both real and alternative assets, with strong exposure to startups seeking to disrupt traditional players in Fintech, Insurtech, Proptech, Wealthtech, and Impact Finance. 

 

For more info: www.odysseuspartners.com 

Contact: [email protected]  / @Minh_Q_Tran

#VC #Insurtech - Can GP work in their portfolio companies for Equity. The case of @reidhoffman investing in @SweatEquity_VC. A model of @OdysseusPartner / @Minh_Q_Tran ?

| Photo: David Paul Morris/Bloomberg via Getty Images

 

Reid Hoffman's $30M bet: Send partners, not cash, to startups

Launching from stealth, Sweat Equity Ventures is a new venture concept that trades operational and recruiting expertise for equity in startups.

Biz Carson

February 6, 2020

 

Anjney Midha had a fresh $27 million in venture capital and the vision to build his augmented-reality startup, but he also had a problem. Midha needed to triple the size of his team to pull off the engineering feat of building his platform, and he was struggling to find the right people. That's when he was introduced to Dan Portillo, who had previously worked as the head of talent at Greylock Partners.

"I had a particular mental model of what an operating partner is, which is someone who was helpful, but kind of just gives you advice, and sits on the sidelines," Midha, founder and CEO of Ubiquity6, said. "Instead, Dan started to roll up his sleeves and understood exactly from a mission, vision, business-opportunity standpoint why what we were doing was so massive." It also helped that Portillo immediately offered up a dozen names of people to call to help build up Midha's team.

 

It's the kind of recruiting service Portillo once offered during his seven years at Greylock, but on a super-charged scale. He told Protocol he felt like operating partners at venture firms could only do so much when a firm's priority was dollar returns. So Portillo created Sweat Equity Ventures, which has been operating in stealth since fall 2018 and launches publicly Thursday, to build a new kind of venture model that trades operators' and recruiters' experience for equity.

Portillo's vision is backed by $30 million from Greylock partner and LinkedIn co-founder Reid Hoffman. He recognized that most venture investments trade a general partner and cash, along with some services, for equity. But Hoffman and Portillo wanted to push the idea further and see if founders would trade equity for value-adding services alone.

"It's a unique channel for equity that's different from the normal cycle of dollar returns," Hoffman said.

Instead of investing money, SEV puts its crew to work inside the startups, with staff in some instances even standing in as an acting CTO, writing code or coaching founders. It's even had partners' names appear on patents alongside startup employees. The companies pay SEV in common stock shares, the same held by the startups' rank-and-file employees, and SEV's team, in turn, get paid salaries by the firm and also receive part of the firm's carry like a traditional venture model. SEV staff will stay on within a startup as long as they're needed to carry out the roadmap for the company they committed to when they "invested."

"There's no fund that I know of that will write a statement of work that commits to: We will ship this product, we will hire these people, we will work with you to secure funding," Portillo said. "It's very deliverable-based."

 

 

Dan Portillo's Sweat Equity Ventures will build a new kind of venture model that trades operators' and recruiters' experience for equity.Photo: Courtesy of SEV

Venture firms for years have been expanding the services they offer entrepreneurs and started using them as a competitive edge to win deals. In Portillo's seven years at Greylock, part of his job was coming in to close hot deals by placing workers at a company. Portillo found some of the earliest employees for Instagram before Greylock invested (it was then bought by Facebook just a few days later). Despite the expansion in services, most venture funds still follow the traditional model where 2% of the fund goes to covering the firm's operational costs, with a large portion diverted to partner salaries.

"My view is that the 2% was never really going to be enough to deliver the kinds of services that you want in a dedicated way," Portillo said.

Portillo's thesis, backed by Hoffman, is that you could spin off some of those venture services and still get the financial upside of betting on growing startups. To realize his vision, Portillo recruited a staff of 13, including six partners, from ex-Amazon engineers to Facebook recruiters and go-to-market strategists from MongoDB. At a recent SEV meeting, the team cycled through the progress they were making with their nine portfolio companies, such as expanding a recruiting pipeline at one company, and condensing a pitch deck from 38 to 10 slides, at another. All of the work is tracked against the goals SEV had promised to the startups.

 

"We're not cheap from an equity perspective, so companies want to use us in ways that are most valuable," Portillo said. SEV negotiates the amount of equity it takes in a startup depending on the scope of work they're undertaking, the firm said.

SEV's focus so far has been enterprise businesses. It's working with workplace collaboration startup Coda, mobile app developer Colony Labs, autonomous delivery company Nuro.ai, and the machine-learning startup Verta, as well as Ubiquity6. Like other venture firms, it won't work with competing businesses to avoid concerns around recruiting or intellectual property.

Whether SEV will deliver outsized returns is still a toss-up. Portillo said he thinks the venture firm will have the advantage coming into companies early, working at the earliest stages alongside the founders to determine which investments are likely to succeed. But even Hoffman says he "doesn't know," but hopes it will be on the level of a typical venture equity return.

Hoffman does believe Sweat Equity will be able to snag shares of some of the fastest-rising companies as it's not competing to offer the largest pile of cash like venture funds traditionally do to win deals. "I think a substantial part of the Sweat Equity portfolio will likely end up being the companies that people already know are super hot, like Nuro," Hoffman said. "But the way that Sweat Equity gets to be investors is putting in the recruiting effort."

 

For Ubiquity6, SEV's approach has so far paid off. Within a year, the company had scaled from 16 to 65 people, Midha said, and he still has biweekly check-ins with Portillo. To Midha, the combination of working with traditional venture capitalists on his board, then the SEV team on the ground, has been an indispensable combination.

"It seems like you're flying with jet packs as a founder," he said. "I see that as a very fantastic development for VC."

The Wealthtech Finfluencers featuring @OdysseusPartner @Minh_Q_TRAN

Week 6: The Wealthtech Finfluencers

When we talk about the many different subsectors of fintech, wealthtech may not be the first that comes to mind. But it’s one of the areas that is constantly evolving, innovating, and changing the way both advisors and their clients approach money management.

And wealthtech is so much more than just robo-advisors. As bleeding-edge AI and data analytics tools provide greater levels of insight, UI and UX interfaces continue to evolve, and improvements to back-office technology help RIAs work smarter, innovation is constantly happening in the space. 

That said, we’d like to recognize some of the top “finfluencers” in wealthtech.

April Rudin -- Twitter, LinkedIn 
Founder and CEO of The Rudin Group
LinkedIn location: Greater New York City Area
Twitter bio: Global #wealth #finserv #marketing firm| #Messaging #Content #Digital +more| #1 wealth management influencer | Likes: #NextGen #FinTech #WealthTech #Detroit

Bill Sullivan -- Twitter, LinkedIn
President of Family Office Exchange
LinkedIn location: Richmond, Virginia Area
Twitter bio: President Family Office Exchange (@FOXExchange) #FamilyOffice #Wealth #Fintech #Banking #OpenBanking #OpenX #RisingGen insights. @Capgemini alum Avid golfer

Chris Gledhill -- Twitter, LinkedIn
Independent FinTech Advisor, Futurist, Writer & Speaker
LinkedIn location: London, United Kingdom
Twitter bio: #FinTech Influencer, Keynote & TEDx Speaker, Writer and Advisor. #FinServ #InsurTech #WealthTech #PayTech [email protected]

Christian Ross -- Twitter, LinkedIn
Manager Business Development at Blanco Fintech
LinkedIn location: Amsterdam Area, Netherlands
Twitter bio: Business Development at @Blanco_fintech #wealthmanagement #wealthtech #regtech #fintech

Devie Mohan -- Twitter, LinkedIn
Co-Founder and CEO of Burnmark
LinkedIn location: London, United Kingdom
Twitter bio: I don't know everything, but I can try. Global top 10 fintech influencer, writer, speaker. Founder @burnmark_ Member @thinkforward

Helene Li -- Twitter, LinkedIn
General Manager of the FinTech Association of Hong Kong
LinkedIn location: Hong Kong
Twitter bio: Purpose is the new profit 🎯🔝2🏆#Influencer on #Sustainability #fintech Co-Founder GoImpact @jpmorgan @bnpparibas alum & best role of all: Mom (views my own)

JP Nicols -- Twitter, LinkedIn
Co-Founder of Fintech Forge
LinkedIn location: Seattle, Washington
Twitter bio: #FinTech #FinServ advisor/writer/speaker: @FinTechForge | @BreakingBanks1 | @ProvokeCast | Innovation+Strategy+Leadership (+ a little soccer #EBFG)

Koen Vanderhoydonk -- Twitter, LinkedIn
CEO Belgium Luxembourg Germany at Blanco Services
LinkedIn location: Brussels, Brussels Capital Region, Belgium
Twitter bio: CEO BeLux @Blanco_fintech passionate about the future of banking, public speaker #Fintech #RegTech #WealthTech #entrepreneur Let's connect!

Minh Q Tran -- Twitter, LinkedIn
Managing Partner at Odysseus Partners
LinkedIn location: Paris 13, Île-de-France, France
Twitter bio: #AssetBuilder & #VC-as-a-Service on #Alternative #Assets in #Insurtech #Wealthtech #Proptech #Impact #Fintech. Top online influencer in insurtech

Rodrigo Garcia de la Cruz -- Twitter, LinkedIn
CEO and Founder of Finnovating
LinkedIn location: Madrid Area, Spain
Twitter bio: CEO @FinnovatingHub | President @asocfintechins | VP @FintechIberoAme | CoFounder @Accurate_Quant | #FinTech #InsurTech #PropTech #RegTech #WealthTech

Susanne Chishti -- Twitter, LinkedIn
Chief Executive Officer at FINTECH Circle
LinkedIn location: London, United Kingdom
Twitter bio: CEO @FINTECHcircle @FTC_Institute Bestselling Editor: @WealthTECHBook @InsurTECH_Book @TheFINTECHBook #AI #Fintech Champion of the Year 2019 #womeninfinance

Urs Bolt -- Twitter, LinkedIn
Partner at Blockchain Innovation Group AG
LinkedIn location: Zürich Area, Switzerland
Twitter bio: Expert Advisor, PMP® | #WealthManagement #WealthTech #DigitalAssets #Ecosystems | @BIG_Blockchain | Mentor @F10_Accelerator | @Phonak Ambassador

 

ODYSSEUS PARTNERS' WEALTHTECH MAP

See more here: https://www.odysseuspartners.com/news/odysseus-is-proud-to-present-its-2020-european-wealthtech-map

#Crédit #Hypothécaire #Epargne #Seniors - Interview de @OdysseusPartner @Insurtech_Cap

Comment emprunter selon la valeur de sa maison

Transformer un bien immobilier en argent liquide sans le vendre est possible grâce au crédit hypothécaire. Mais cette formule reste peu pratiquée.

Par Nathalie Coulaud Publié le 03 décembre 2019 à 06h00 - Mis à jour le 16 décembre 2019 à 17h23

Le crédit hypothécaire est rarement utilisé en France. Il s’adresse aux propriétaires d’un bien immobilier. Jakub Krechowicz/Panther Media / GraphicObsession

Très développé en Suisse et dans les pays anglo-saxons, le crédit hypothécaire est rarement utilisé en France et mal connu. Il s’adresse aux propriétaires d’un bien immobilier qu’il s’agisse d’une résidence principale ou pas. La banque, avec l’aide d’un expert immobilier, estime la valeur de la maison ou de l’appartement et prête à la personne entre 50 % et 70 % de cette valeur. Si une maison est estimée à 200 000 euros, l’emprunteur recevra ainsi entre 100 000 et 140 000 euros.

Avec cette somme, le bénéficiaire peut continuer à habiter sa maison tout en payant les études de ses enfants, en voyageant ou encore en réalisant des travaux. Contrairement à un prêt immobilier classique, aucune justification n’est demandée par la banque et le client peut utiliser la trésorerie comme il l’entend. « Nos clients sont souvent des chefs d’entreprises qui ont ponctuellement besoin de dégager de la trésorerie pour injecter dans leur entreprise. Ensuite, ils remboursent la somme prêtée », constate Véronique Bougardier, directrice du courtier Bourgadier, spécialiste de ce type de prêt.

Le prêt hypothécaire est également utilisé par les personnes à la limite du surendettement : il leur permet de faire un regroupement de crédits et de rembourser leurs dettes grâce à la trésorerie dégagée par la valeur de leur maison ou appartement. Cela fonctionne à condition que l’emprunt immobilier qui reste à courir sur ce bien soit en grande partie remboursé. Si le capital restant dû est trop élevé, l’apport de trésorerie par le biais du prêt hypothécaire ne sera pas possible.

Des taux plus élevés que le prêt immobilier classique

« Il faut compter un taux de 1,85 % hors assurance pour ce type de prêt, donc un peu plus qu’un prêt immobilier classique », prévient Estelle Laurent, porte-parole du courtier en crédit Crédixia. Outre le taux d’intérêt qui rémunère la banque, l’emprunteur doit aussi s’acquitter d’une garantie sur ce prêt. Il peut s’agir d’une garantie hypothécaire d’environ 7 % du montant du prêt. Dans ce cas l’intervention d’un notaire est indispensable.

 

Autre possibilité : il peut s’agir d’une caution bancaire par les organismes Crédit logement ou Sacef. Ces structures se substituent à l’emprunteur si celui-ci fait défaut. Il en coûte en général 1 % du montant du prêt et lorsque ces organismes acceptent de se porter caution, il n’y a pas d’intervention du notaire. « La banque peut aussi demander à l’emprunteur de souscrire une assurance décès et invalidité comme pour un prêt immobilier classique », précise Estelle Laurent. S’ajoutent enfin les honoraires du courtier en crédit si l’emprunteur est passé par un de ces professionnels et les frais de dossier de la banque. Au total, le taux annuel effectif global peut se situer aux alentours de 3 %.

Un moyen de financer la dépendance

Le crédit hypothécaire n’est proposé que par très peu d’établissements bancaires. « Les banques n’aiment pas beaucoup ce type de montage car, en cas de défaillance de l’emprunteur, il faudra vendre le bien sûr lequel est gagé le crédit, ce qui leur prend du temps », explique Véronique Bougardier. Il est cependant possible de passer par le Crédit mutuel Arkéa.

Les courtiers français font aussi appel à des banques étrangères comme la banque allemande LBS, la banque Belge Record ou encore l’établissement anglo-saxon My Money Bank. Lorsqu’ils accordent un crédit en France, ces établissements doivent respecter les mêmes règles que les banques françaises.

Le crédit hypothécaire pourrait se développer dans les années à venir, notamment auprès des seniors. « Ces derniers sont généralement propriétaires et ont besoin de financer des travaux d’adaptation chez eux, de payer une maison de retraite ou d’aider leurs enfants. Cela pourrait faire partie de la panoplie d’outils pour financer la dépendance », suggère Minh Q. Tran, associé chez Odysseus Partners qui développe ce type d’outils en France. Reste à voir si les séniors vont se laisser convaincre.

En effet, s’ils souscrivent un crédit hypothécaire, la valeur du bien qu’ils transmettent à leurs héritiers est amputée de la somme prêtée par la banque.

Nathalie Coulaud

#Insurtech #Impact - 2 key words I am working on... must read report on trends

December 2019

Impact InsurTech: How InsurTech is Transforming the Insurance Industry

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As societies across the globe grapple with increased uncertainty, from climate change geopolitical risk, or the revolution of technological progress — insurance is fundamentally changing.

Technology is making insurance more affordable, accessible, and customizable than ever — reducing barriers to access for historically underserved customers (i.e. small businesses, independent contractors, lower-income consumers, etc.) and unique customer needs.

In our new report, Impact InsurTech, we identify three macro themes that are redefining the industry.

#Finverse #Riyad on Dec 10 & 11: how #Fintech, #Proptech, #Insurtech and #Impact #Investing can impact #UAE and #SaudiArabia?

@Insurtech_Cap @Minh_Q_Tran

 

Insurtech Capital

Insurtech Trends in the Middle East - 2019

The Middle East is highly underinsured compared to other regions so there is a great interest in new technologies as they could increase the number of people insured. Even if insurance faces cultural barriers in the Middle East - many people consider insurance as not Sharia-compliant - the insurance market in the Middle East is becoming more mature due to new regulatory requirements.

 

Regulatory requirements are creating opportunities for insurTechs in the Middle East

Regulatory regimes were significantly improved and modernized during the last few years. Thanks to new mandatory insurance policies, new lines of businesses such as health insurance and motor insurance are on the rise.

These regulations relate in particular to new regulatory pricing and reserving requirements for life products. If Middle East countries did not adopt Solvency II, capital requirements have been strengthened in line with Solvency II. Moreover, new legislation requiring employers to provide health insurance for their staff has already been announced in Bahrain and Oman for implementation in 2019. Mandatory health insurance became a key driver of growth in markets such as the Kingdom of Saudi Arabia, Dubai, and Abu Dhabi, and others are set to follow. Another regulatory trend concerns the medical insurance market: in 2017, the UAE established mandatory health insurance.

Most of the insurance growth is driven by governments in Saudi Arabia and UAE and many companies are struggling with the existing regulatory frameworks. Regulation is characterized by strict guidelines imposed by the insurance authorities (from production to distribution).

Is regulation a lever or a brake for innovation? In some situations, these strong and changing regulations could be a brake on innovation as companies are focusing on adapting to new regulations. But most of them foster accessibility through the internet and favors technology. In particular, regulators are focusing on claims settlement.

Eventually, if regulations deepen the market in terms of growth opportunities, tightened regulatory capital requirements could increase the market concentration.

 

A growing market that remains dominated by local players

The insurance market in the Middle East looks stable from a premium perspective. Experts point out increasing profitability on all lines of businesses, shown by a growth of the net underwriting profit from 2016 to 2018. If the market is still very competitive and relatively soft, stable premiums and gradually rising net underwriting profits across all insurance lines are signs of a maturing market.

New opportunities for growth are offered by the region’s resilience despite geopolitical instability and a continued economic sluggishness. Even though executives anticipate further economic headwinds and fiscal tightening, price adequacy in commercial lines, especially in the property business, has improved, mainly in response to regulatory intervention.

Middle East’s low insurance penetration offers great potential for growth. Nevertheless, larger local players are expected to become more influential and continue to shape the market. Many are able to transfer skills acquired from operating in more developed markets around the world. However, minor players who lack global expertise may be less able to react to market and regulatory changes, adding pressure to their operations and the potential to be ultimately squeezed out of the market altogether.

 

Is digitalization the key for foreign players to compete in the Middle East?

To access this growing market, digitization and InsurTechs offers opportunities even though foreign insurers are still facing stricter requirements than local players.

Digitalization is the second most frequently mentioned opportunity for the market because of its potential on cost reduction and because it increases the appeal of insurance products to the younger populations of the region.

9 key conclusions to consider insurance in the Middle East in 2019 according to InsurTech Capital:

 

1. Many people in the Middle East consider insurance as not Sharia-compliant so it limits the adoption of insurance. The Middle East remains highly underinsured and Increasing regulations threaten market stability.
2. Clear need in Arab countries for innovation as the profitability of insurance is endangered by the decrease of investment revenues (low-interest rates, high rate of frauds, obsolete processes).
3. This is a highly concentrated market: the top 5 insurers control 50-55% of the market. They are all local companies (Abu Dhabi National Insurance Company and the Islamic Arab Insurance Company).
4. Most promising lines of business in Arab countries are motor, health, and travel insurance.
5. UAE is the largest insurance market of the Arabian Peninsula and the most favorable market for the development of insurance (growing middle class, positive regulations, growing usage of mobile phones and of the internet). The Life Insurance Regulations are likely to reduce the number of intermediaries and drive consolidation. UAE also leads innovation in the Middle East through investments in blockchain and on FinTechs.
6. The regulation will remain the main influencing factor for insurance disruption in the Middle East in the medium term through the creation of mandatory insurance. The regulation also stresses compliance and customer protection.
7. Middle East countries are seeing an increasing number of workers from Asian and emerging countries looking for other standards of insurance policies (regional PMI plans rather than fully international solutions).
8. Blockchain and Artificial Intelligence technologies are on the rise as the privacy of data and security is a major concern in the Middle East.
9. The most promising InsurTechs in the Middle East, such as Adenda and Aqeed, are focusing on distribution.

 

Research and article written by @theophile_deli, VC analyst at Odysseus

 

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