Investor Presentation – June 2022
Investor Presentation
Disclaimer
This presentation may contain forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. All statements other than statements of historical facts contained in this presentation, including information concerning our possible or assumed future results of operations and expenses, business strategies and plans, competitive position, business and industry environment and potential growth opportunities, are forward-looking statements. Forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Given these uncertainties, you should not place undue reliance on any forward- looking statements in this presentation. Except as required by law, we disclaim any obligation to update any forward-looking statements for any reason after the date of this presentation, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.
Further information on potential factors that could affect the financial results of
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1
Rapid and Responsible Organic Growth
|
New Business and Renewal Premium Growth |
Corporate and Franchise Channel Premium Growth |
Premium Volume ($M)
|
1,600 |
|
|
1,500 |
|
|
1,400 |
|
|
1,300 |
|
|
1,200 |
|
|
1,100 |
|
|
1,000 |
|
|
900 |
5 Year CAGR: 45% |
|
800 |
10 Year CAGR: 40% |
|
700 |
|
|
600 |
|
|
500 |
|
|
400 |
|
|
300 |
|
|
200 |
|
|
100 |
|
- |
||||||||||||||||||||||||||||||||||
|
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||||||
|
Renewal Business |
New Business |
|||||||||||||||||||||||||||||||||
Premium Volume ($M)
|
1,600 |
|
|
1,500 |
|
|
1,400 |
|
|
1,300 |
|
|
1,200 |
|
|
1,100 |
CAGR Since 2019 |
|
1,000 |
|
|
900 |
Corporate: 31% |
|
800 |
Franchise: 52% |
|
700 |
|
|
600 |
|
|
500 |
400
300
200
100
- 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
|
Franchise Channel |
Corporate Channel |
|
1 5 and 10 year CAGR calculations through
2
Investment Highlights
Disruptive model positioned to substantially grow in a massive and fragmented industry
Outpaced revenue growth driven by strategically solving industry challenges
Comprehensive value proposition for clients, agents and carriers
Highly developed recruiting strategy with experienced evaluators of talent
Robust and innovative technology platform supports high growth business model
Committed and capable management team with ambitions of industry leadership
Recurring revenue with strong future visibility and expanding long-term margins
3
Personal Insurance Market Large and Highly Fragmented
Industry historically has struggled to find the right way to best serve the needs of customers
|
Independent |
Captive Agencies |
Carriers Direct To |
|||||||||||||||
|
Agencies |
Owned By Carriers |
Customer |
|||||||||||||||
|
Offers products from multiple |
Largely very small businesses |
Largely very small businesses |
|||||||||||||||
|
Key |
One carrier which sells |
||||||||||||||||
|
carriers with the support of a |
|||||||||||||||||
|
which sell products from |
which sell products from only |
||||||||||||||||
|
Attributes |
best-in-class service |
products directly to clients |
|||||||||||||||
|
multiple carriers |
one carrier |
||||||||||||||||
|
organization |
|||||||||||||||||
|
Product |
|||||||||||||||||
|
Choice |
|||||||||||||||||
|
Service |
|||||||||||||||||
|
Quality |
|||||||||||||||||
|
|
|||||||||||||||||
|
|
$1281 |
||||||||||||||||
|
|
61% |
70% |
|
1 |
|||||||||||||
|
Premiums |
41% |
||||||||||||||||
|
59% |
89% |
||||||||||||||||
|
39% |
|||||||||||||||||
|
30% |
|||||||||||||||||
|
11% |
|||||||||||||||||
|
Home |
Auto |
||||||||||||||||
Source:
1 Represents GSHD 2021 total written premiums excluding commercial and excess liability premiums and 2019 premiums for the industry, the most recently available data.
4
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