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Transcript
TREEHOUSE TECHNOLOGIES INC. D2C SOFTWARE TO FACILITATE DIGITAL INSURANCE MARKETING A New Distribution Channel for Insurers Targeting Boomers & Millennials TREEHOUSE TECHNOLOGIES TTI has developed an innovative, fully functional, totally compliant, end-to-end solution for direct-to-consumer sales of insurance without the need for human intervention. 90 Second Link - Turn on your speakers https://youtu.be/49Cq2tDqMMw Within 12 Months of funding, TTI will generate $7 Million in revenue through sales of its Retirement Plus life/annuity hybrid product via “Virtual Advisor”, our Sales and Delivery System. 2 VIRTUAL ADVISOR A product neutral software platform that allows for individual product branding and empowers the consumer to learn about, select, and purchase insurance products and financial services of their choosing. Virtual Advisor Sales Technology (VAST) corporate Web site (for accessing the overview video) www.vastechnology.com (click on lower left of screen) 3 VIRTUAL ADVISOR ONLINE E COMMERCE PLATFORM INSURANCE COMPANIES (Supply Product) TTI PLATFORM DISTRIBUTION PARTNERS (Sell Product) Product Calculator Determines Consumers Needs Website Programming and Hosting Application Creation Process Payment Collection And E-Signature Carrier Underwriting Interface Insurance Software & Management for Agencies Call Centers and Support 4 HOW DOES VIRTUAL ADVISOR DO IT? Treehouse loads Virtual Advisor with rates, features, media, forms and applications. Existing off the shelf insurance products, already filed & approved by regulators, are selected. On-line Tutorials and Videos - inform, educate, empower and enable the consumer to execute a secure purchase, through their bank (a trusted relationship). It also provides a 30-day free look to confirm the purchase. Check out our Retirement Plus Training website: (View in slide show mode) http://vastechnology.com/video/RP1.php 5 VIRTUAL ADVISOR SOFTWARE DESCRIPTION Multiple Data Centers with redundant fiber serviced by three separate providers Virtual platform on dedicated server allows for easy migration to new hardware Security and infrastructure protection including: • SSL Encryption used throughout application/site • Apache/PHP hardening • Vulnerability scanning • Brute force detection and evasion • PCI compliance scans • Programmed in HTML, JavaScript Linux, Apache, MySQL, PHP (LAMP) Platform provides excellent application scalability Collects customer input and transmits data securely to Insurance Carrier Underwriting System 6 THE BUSINESS CASE FOR VIRTUAL ADVISOR Our earlier proof of concept version http://vastechnology.com/video/PP1.php (Complete online Life sales Process 15-25 mins.) Password Required: Virtual15 THE PROBLEM THE SOLUTION • Insurers, using current distribution systems, are having difficulty growing their top lines due to low interest rates, sluggish growth in GDP, and price competition. • Virtual Advisor combines Software, Relationship Marketing and Delivery Efficiency in the creation of a new distribution channel, available direct to the consumer and as an additional sales tool for agents. • Potential customers, Boomers and Millennials, are either not being actively pursued or are more interested in using technology to search for their own insurance product solutions. 7 PRODUCT HIGHLIGHTS Software Ease of Use Efficiency of Sales Patent-pending software, ready for launch using off-the-shelf financial products. Internet and Smartphone based sales – requires no live person to assist. Software is both user friendly and instructional, utilizing videos and voiceovers to assist the consumer. TTI improves sales efficiency, reducing acquisition costs helping the insurer, agent, or other distributor to reach consumers directly/quickly. Relationship Marketing TTI has relationships already in place with insurers and distributors, including over 200 banks & associations and 4,500 independent agents. • Banks - Virtual Advisor will improve customer retention and open a new source of revenue. • Independent Agents - will use Virtual Advisor to cross sell to existing customers and attract new customers. 8 THE SIGNIFICANT MARKET OPPORTUNITY Virtual Advisor is built for an under-served U.S. Middle Market of 90+ million consumers – Boomers and Millennials by age and income ($30,000-$90,000). Millennial’s are distinct in that they embrace do-it-yourself behavior in completing a purchase directly online through a trusted source. 9 VIRTUAL ADVISOR RELATIONSHIPS TTI has relationships with Insurance Carriers, Banks, Multi-level Marketing Companies, Wholesale Buying Clubs, Third Party Administrators, Relationship Marketers and access to thousands of Life and Property and Casualty Agents These important relationships are key to the effective and rapid deployment of Virtual Advisor, which will result in a very quick ramp up of revenue. 10 GENERATING REVENUE BY MONTH Month 4 Gross commission revenues generated by 4th Month = $155,000 $155,000 Month 12 Gross commission revenues generated by 12th Month = $1.5 million $1.5 million Business ramps up quickly months 4-12 with: Addition of branch training Month 4-12 Retirement Plus awareness, as an alternative to the limited options of CD renewal A 100 branch bank will easily produce 5,000 sales per year generating $2.25-$3.75 million in bank Retirement Plus earnings vs. $0 for CD revenue currently 11 FIRST 3 MONTHS FROM INITIAL FUNDING 1 Select existing products, already filed and approved, by regulators. 2 Treehouse loads the rates, features, benefits, forms and applications on our platform. 3 3-4 weeks before Virtual Advisor launch, systems and transmissions between Carriers, Consumers and Bank (relationship marketer) are tested. 4 Compliance sign-off is secured from each underwriter for each platform offering. 5 Treehouse is appointed and licensed directly with each carrier to avoid channel conflicts. 6 All parties to the contracts are licensed and paid directly from the carriers or a qualified TPA selected by TTI. 7 The successful launch of Retirement Plus will be quickly followed by the release of Paycheck Provider/Two Step Life, generating significantly increasing revenues from additional demographics (Ages 22 to 55) 8 Existing Relationship Partners will be activated 12 MANAGEMENT TEAM To make it all happen, TTI has a strong management team with backgrounds in financial services - specifically insurance, direct marketing, and technology. We have experience delivering and selling insurance products direct through bank channels. In addition, we are tech savvy in the design and building of effective online learning programs and web site technology, as well as in management of online customer processes. 13 FINANCIALS Initial product launch, Retirement Plus, in 90 days. Additional product rollouts in 30-45 day intervals Revenue model consists of carrier licensing fees and commissions Conservative 1st year revenue forecast for TTI in the $2.5 million to $3.5 million range with the ability to scale up quickly Attractive margins and EBITDA positive in months 6-12 post launch Company structure - Delaware C Corporation 14 FUNDING REQUIREMENTS NDING Initial Funding - $1,000,000$600,000 Funding method is flexible and can be structured in the form of equity, loans, or convertible notes. Funding will allow TTI to link Virtual Advisor to insurers, banks, and third party administrators. 15 IN SUMMARY…. Why invest in TTI? Unique Direct to Consumer Distribution Scalable platform with a recurring revenue model We’ve done it before as start-ups with and no previous Insurance sales Exceptional leadership team with proven expertise Chase --15,000 Cash Value life sales achieved in 18 months generating $18 million in premium Attractive EBITDA margins and ROI for shareholders Shawmut -- $750 million in CD conversions (annuity sales) completed during 12 month start-up Sell within 3 years at an attractive valuation given our overall financial profile Large market opportunity of underserved consumers. Focus will be on Banks and Credit Union Relationship Marketing 16 DISCLAIMER & CONTACT INFORMATION The Company is currently seeking to raise up to $1,000,000. This information does not constitute an offer to sell or purchase a security which can only be made in accordance with federal and state securities laws. Please direct your feedback, interest and referrals to:: Tom Burnham, Founder & CEO [email protected] 800-252-4391 X1001 17 APPENDIX AND SUPPORTING TABLES 18 BIO: FOUNDER &CEO Thomas R. Burnham, Jr., Founder & CEO Over 25 years, experience driving innovation in delivery of financial services Built his own multi-agent, multi-line brokerage operation. Pioneered insurance agent networks within bank branches in the 1980s and 1990s At AMEX and CONSECO, launched robust profit centers that generated over $3 billion in annual annuity sales for Shawmut Bank (now B of A), Chemical Bank (now Chase), and others. 19 BIO: PRESIDENT Don Rawitsch, PhD, President Over 30 years experience in educational technology, including staff and managerial positions in product development, project management, and customer training Although my field of expertise is education, not insurance, I was excited by Tom’s ideas for using technology to improve how insurance is sold to underserved markets. I offered the ability to manage the design and building of Web sites. Shaken by the advent of corporations such as Google invading the insurance space, it seems the industry has finally caught on to Tom’s ideas. We’ve recognized that nothing has the power to create a seismic shift in an industry like the realization that the customer base is now driven by new motivations. First, a new generation of customers, with so much information at hand, relies more on recommendations from people they trust outside of an industry than from the insiders. Second, as people of all ages adopt digital technologies that allow them to deal directly with the supplier, not go through intermediary salespersons, the role of the salesperson will be redefined and not be the primary one in many insurance transactions. These make up the foundation of our business approach. “How can an investor take advantage of a changing insurance industry? Support TTI in defining a new approach to the market and using it to capture today’s buyers.” 20 BIO: CHIEF OPERATING OFFICER Layne Rodney, Chief Operating Officer Associated with the Audiovisual/Digital marketplace since graduating from college. Over 30 years in Sales and Marketing. Currently a Sales Consultant for 3 video companies. He will also be helping TTI. I feel strongly that there is a large segment of the population that is not being served by Financial Institutions. This is a great opportunity for me to help TTI and to be involved with launching a great new business I hold a B.S degree from Dowling College. 21 BIO: CHIEF INFORMATION OFFICER James E. Sampel, Chief Information Officer Global CIO and Operational Executive with a solid history of designing and integrating groundbreaking technology to power innovations across diverse industries. Drives business value through new operating efficiencies, system and process automation, faster time-to-market, improved system uptime, increased customer and employee satisfaction, and multimillion-dollar cost reductions. Known as the “go to guy” to drive turnaround and execution of failing projects. Moves easily among multifunctional and multicultural teams. Trusted leader known for sound business judgment, out-of-the-box innovation, common sense and passionate commitment to excellence. MBA in Information Systems; Bachelor’s in Engineering Technology. 22 BIO: EXECUTIVE VICE PRESIDENT Gloria L. Vogel, CFA, Executive Vice President Experienced insurance investment professional serving as All-Star analyst at major investment banks, investor relations at Swiss Re, and as insurance consultant I joined TTI early this year because I thought it had the right product at the right time and had the right team. I saw a real opportunity to take advantage of changing market conditions. Millennials prefer everything digital, and TTI had already developed a software program enabling insurers to sell online direct to consumers through relationship marketers such as banks. Having been an All-Star insurance analyst at major investment banks, I was well aware of the industry’s need to grow revenues, and how TTI’s software would enable insurers to reach currently underpenetrated markets. I saw a huge market opportunity and first mover advantage as the industry attempted to move toward digital marketing. With extensive industry knowledge and contacts, I could see the need for P&C agents to extend their reach through TTI’s product as well as for L&H agents, banks and associations to develop more efficiencies. Insurers would welcome any cost savings that could be derived from adoption of this marketing approach. 23 BIO: RELATIONSHIP MANAGER Joy M. Rendahl, Relationship Manager A licensed financial advisor with nineteen years background in private banking, she helped open the Greenwich offices of two Private Banks. She has worked trading private equity, fundraising as a professional, and providing financial analysis for the shipping industry. She has a Stanford statistics degree. Having spent most of my life in financial circles, I am well aware of the unrealized potential in the cross-selling of consumer products that has long frustrated our industry. This so-called “pot of gold” is now available. The Treehouse solution offers a real opportunity to reach deeper into the financial decisions of present customers by allowing them to self-determine the attractiveness of doing additional business with their current providers. I also believe that there is a large underserved consumer marketplace in financial services that will be enthusiastic about the Treehouse approach. Treehouse has set the stage for a win-win proposition between financial institutions, their product providers, and their customers. 24 RELATIONSHIP TEAM* Pat Wedeking, Chairman, Life Insurance Direct Marketing Association (LIDMA) Insurance professional in direct marketing; President of The Life Insurance Center and Founding President and current Chairman of the Board for the Life Insurance Direct Marketing Association (LIDMA) Al Konieczka, Executive in Charge / Sr. Project Manager, Alkon Consulting Manager in software, web design & search optimization, with extensive post-launch marketing and training experience from his firm which hosts and maintains websites in 11 languages for the Lion’s Club International. Jay Pettipiece, Co-Founder, Vision Financial Patrick Byrne, VP Business Development Resonant Software Career insurance executive with TPA (Third Party Administrator) of voluntary insurance benefits, offering billing and administrative website services. Over 20 years experience selling mission critical automated underwriting software applications to the insurance industry, formerly with Accenture. *(all Treehouse stockholders) 25 POLICY PROJECTIONS BY PRODUCT Year 1 Year 2 Year 3 TTI Revenue Year 3 Number of Policies Sold Paycheck Provider 3,300 10,000 40,000 $10,000,000 Retirement Plus 4,900 15,000 40,000 $18,000,000 Medicare/Medigap 10,000 100,000 $400,000.00 Property & Casualty 15,000 60,000 $3,600,000 Money Guard 2,500 $2,500,000 Final Expense 5,000 $1,250,000 247,500 $37,220,000 Total 8,200 50,000 26 Thank You!!! • Treehouse Technologies is excited about Virtual Advisor and the potential it has for the Insurance Industry for expanded growth and profitability • The efficiency savings achieved will allow for better preforming products being created for “Virtual Advisor” and added to an agent & carrier’s arsenal • Let’s build this together 27