Industry Breakdown

reviewing and approving rates for homeowners policies, for Industry Breakdown example. Under State law, New York City does not have the authority to regulate insurance companies. The Insurance System Insurance transfers risk from an individual policyholder to a larger While other types of climate risks could affect various types of risk-sharing pool. The insurance system is based on the principle of insurance coverage in New York, the impact of sea level rise and risk-based premiums: those with greater risk (i.e., those more likely greater frequency of the most intense coastal storms are expected to suffer damage and require a claims payment from an insurance to have the greatest impact on NFIP rates. provider) should pay higher premiums than those with less risk. Kimeline: An Independent Broekerage Firm Property insurance can provide protection for individuals and Kimeline is an independent brokerage firm which is not affiliated businesses against losses due to climate risks and other types of with a carrier and instead offers policies of a variety of insurance risks. Coverage generally is provided through package policies such carriers. Kimeline specializes on offering Standard Homeowners as standard homeowners and commercial property policies, which Insurance policies on properties located in any of the five boroughs include coverage for a variety of perils, or causes of loss, such as of New York City (Manhattan, Queens, Brooklyn, Bronx and Staten hailstorms, fire, and theft. However, coverage for flooding, like most Island) and on properties located in the city of Long Island in the other natural catastrophes, is generally excluded and must be boroughs of Nassau and Suffolk. purchased through a separate policy. Main Actors The insurance industry consists mainly of insurance carriers and insurance agencies (brokers). In general, insurance carriers are large companies that provide insurance and assume the risks covered by the policy. Insurance agencies(brokers) sell insurance policies for the carriers. While some of agencies are directly affiliated with a carrier and sell only that carrier's policies, many are independent and are consequently free to sell the policies of a variety of insurance carriers. State governments are the primary regulators of insurance companies. In New York State, the Department of Financial Services is the primary regulatory body that oversees the insurance market,

Technological leadership and innovation. Currently there are no similar home insurance procurement websites available to New York home buyers. By innovating an insurance procurement website we will lead the New York Insurance industry by offering a new SAS (software as a service) to new york insurees. Customer ownership. Increase our ability to reach out to our customers and provide up to date information. Launching our website will allow us to meet customer expectations at all hours of the day. “The goal must be to meet customers’ expectations, which have been transformed by digital technology. Customers want simplicity— one-click shopping, for example. They want 24- hour access and quick delivery, clear, relevant information about a product’s features, particularly in relation to pricing, and innovative, Disrupting the Home Insurance Market tailored services designed for the digital age. They have the same expectations whatever the service provider, insurers included. And as Matthew The Value Drivers in Digital Solutions Donaldson, CEO of UK-based BGL, the company According to a recent Mkinsey report on Insurtechs, “The new value behind the comparison site Comparethemarket, drivers of success will be grounded in recognizing the drivers of points out, although some insurers are holding value in a digital age.” An insurance procurement website is of back from the commitment needed to meet these value to Kimeline because it is driven by: expectations, demand must ultimately be satisfied.” (Mkinsey 2017)

Efficiency (cost savings) and effectiveness (higher returns). direct point of contact with customers for The inefficiencies in our internal operations have resulted in HO App sending at least 98 % reduction in time a bottleneck and restrains our ability to rapidly bind and Docusign and managment directly through portal send quotes to our customers. The digitization of our C. Gain competitive edge with market disruption internal processes will not only reduce the costs of labor within Kimeline, but completely transform our business more lead generation among specific markets organization. favorable relationships with carriers Scale and network effects. NYCLandlord.com Scalability is an important, if not the most important feature Description for landlords and HO of our website. We hope to procure policies for any person who accesses our website on a massive scale. Scalability will 1. survey to otain pertinent data be achieved by providing intananeous comparisons for our customers to view by communicating between our website questions usually asked: and our carrier’s underwriting APIs. Speed and Agility questions needed for landlord The communication streams between our website, datamangement systems, and carrier APIs should result in instantaneous data management and policy procurement. 2. quote generation A. lead generations 3. customer portal at all hours of the day not related to the lead generator personnel more accessible to home buyers/landlords of all background 7. Backend B. Eliminate bottlenecks A. HO App collect details on house

zillow API send these workstation based policies to ams360 download now foler Vpike post request to ams360 api Fema use a macro from someones desktop to send downloads to the website memory - data management system download now folder in ams 360 this way the document can be viewed in the customer portal B. send HOApp to carriers to vertafore data center connect carriers directly through their API website redirect can send http get request from page to our ams360 send apps throug hAMS360 api and download policies api customer portal will automatically be updated with quote C. provide quotes to clients -carriers with their own API can send policies to our survey or a pgae D. customer portal it is -redirected to. ams360 integrate data management of claims renewals -download policies cancellations quotes between our data management system and our website download now customize displayed information through AMS360 send hoapps through ams360 to portal is set up by customer support our server in a designated folder send direct downloads from our server to a cloud based storage received/sent to website postman make a post request to our redict page so that customer can see quote on page