INSURANCE TECHNOLOGY & SERVICES BUILDING A WORLD CLASS BUSINESS

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1 INSURANCE TECHNOLOGY & SERVICES BUILDING A WORLD CLASS BUSINESS 17 June 2015

2 STRATEGIC CONTEXT Technology Innovation Technology Procurement BPS Insight Differentiation Focused offerings to chosen markets Xchanging plc

3 COMBINING SERVICES AND TECHNOLOGY BPS / Insurance Services: Stable, predictable, cash generative Technology / Insurance Software: Opportunity for growth and margin expansion Xchanging plc

4 INSURANCE TECHNOLOGY AND SERVICES Building a world class business Significant core business and an engine for future growth Building a world class insurance technology and technology-enabled services business, based increasingly on owned IP Strategic synergies between technology and services Xchanging plc

5 THE TRANSFORMATION JOURNEY Insurance Services Technology-enabled Insurance Services Tech Tech BPS BPS Xchanging plc

6 COMPREHENSIVE INSURANCE SOFTWARE OFFERING Built a business with the most comprehensive offering of products into the P&C and Health (International Private Medical Insurance) markets for national and global use Xuber Businesses acquired from Agencyport Total Objects Configurable product for use by businesses with a global presence Added the Health market offering and the Risk Exposure product Stronger position in the Broker market and cloud offerings Xchanging plc

7 OUR TEAM TODAY Chris Baker Executive Director, Xuber Adrian Morgan CTO, Xuber Adrian Guttridge Executive Director, Business Process Services 7 Biographies in appendix 2015 Xchanging plc

8 INSURANCE SERVICES Adrian Guttridge Executive Director, Business Process Services

9 INSURANCE BPS WHAT WE DO Provide technology-enabled insurance processing services Where London Markets Strategy: Break out of London What Insurance Broking Workers Compensation Trend Increasing use of automation Xchanging plc

10 NEW TECHNOLOGY INTO INSURANCE BPS Technology enabling global break out Broking X-ALT (Brokers-IT) Global ReMarket Central Services Refresh Programme (CSRP) Claims Volume Claims Services (VCS) Verometrix Xcelsia Delegated Underwriting Binders360 Binder Cloud Policy Admin Data Capture Service (DCS) Insurers Market Repository (IMR) Accounting + Settlement Netsett X-presso XOOM Mobility London Global break out Xchanging plc

11 XCHANGING TECHNOLOGY LEVERAGED IN BPS Tech BPS Volume Claims Service & Delegated Underwriting Service Application Development & Support IT Hosting Service Desk Xchanging plc

12 World Class Insurance Software Business Chris Baker Executive Director, Xuber 12

13 Why Xuber? Partners Customers Contact Us Solutions For Insurers Solutions For Reinsurers Solutions For Brokers Solutions For MGAs Solutions Platform Services Market 13

14 The Opportunity 14

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16 Adrian Morgan Chief Technology Officer, Xuber 16

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27 Source: PwC 27

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39 LASER FOCUS ON OUR FUTURE Ken Lever Chief Executive

40 SERVICE, SOFTWARE AND PLATFORMS Xchanging IP Third party IP or Xchanging IP Technology Technology-enabled Customer platform Technology Procurement BPS Customer Customer Big T Little t Xchanging plc

41 INSURANCE TECHNOLOGY AND SERVICES Building a world class business Significant core business and an engine for future growth Building a world class insurance technology and technology-enabled services business, based increasingly on owned IP Strategic synergies between technology and services Xchanging plc

42 Q&A

43 APPENDIX

44 BUSINESSES ACQUIRED FROM AGENCYPORT Acquisition overview Complete July 2014; CMA cleared April 2015 Total consideration: 64.1m Insurance software provider to the Property & Casualty and Health insurance markets Complementary products broaden range New markets: Risk Exposure + Health Additional customers Contributes to Xchanging s IP Strategy Operational synergy benefits (cost rationalisation + product development) Opportunity to cross / up-sell International Xchanging presence behind acquired products Additional management talent Xchanging plc

45 TOTAL OBJECTS Acquisition overview Acquisition of Total Objects completed and cleared by CMA in Dec 2014 Total consideration: up to 21m ( 11.5m paid on completion, and a further 9.5m of which 1.5m is deferred and the balance is subject to certain performance targets being achieved) Provider of advanced insurance and broking software to support broking and reinsurance processes and MGAs* in London and global markets Enhances Xchanging s broking offerings Appending Total Object s BinderCloud to Xchanging s Binder360 service, a uniquely differentiated offering will be produced for the London Market Product development synergies, especially BinderCloud and Binders360 *Managing General Agents Xchanging plc

46 BIOGRAPHY Ken initially joined Xchanging as Chief Finance Officer in October 2010 and became acting Chief Executive Officer in February He became Chief Executive Officer in June Ken Lever Chief Executive Ken was a partner at Arthur Andersen. He has served as a public listed company director initially as Group Managing Director with Corton Beach plc, a small conglomerate, and then as Finance Director of Alfred McAlpine plc, the international construction services group, Albright & Wilson, the global chemicals group and then he spent eight years with Tomkins plc, the global engineering and manufacturing group formerly listed on the London and New York Stock Exchanges. Ken then moved into the role of Chief Financial Officer of Numonyx BV, based in Switzerland Xchanging plc

47 BIOGRAPHY Chris Baker Executive Director, Xuber Chris joined Xchanging in August 2014 as Managing Director of Xuber. He was appointed to the Executive Board in January As part of Chris s role he is responsible for the integration of Xchanging s Insurance software acquisitions with the goal of expanding Xuber s global presence and offerings. Before Joining Xchanging Chris spent 17 years at Oracle, latterly to the role of global Senior Vice President of Oracle s Independent Software Vendor and Java Businesses. Prior to Oracle Chris held a number of senior UK roles, including that of Sales Director for Outsourcing at Digital Equipment. Chris has a degree in civil engineering and worked in that field at Brian Colquehoun and Partners and at a computer bureau SIA as a consultant before moving to IT Xchanging plc

48 BIOGRAPHY 48 Adrian Morgan CTO, Xuber Adrian has over 20 years of commercial software product development, solutions development and customer engagement experience within the insurance sector. He has a deep technical understanding of software development technologies and application architecture. This has enabled Adrian to deliver large complex software applications meeting the requirements of major multinational customers. During his tenure at Xuber, Adrian has held Development and Implementation Director roles. He has been instrumental in the development of software applications that continue to be market leaders for insurance organisations globally. Adrian led the creation of the Xuber business and now holds the position of CTO across the broader insurance software division Xchanging plc

49 BIOGRAPHY At Xchanging, Adrian is focused on the global growth of our Business Process Services business building on our core strength in Insurance, particularly in the London Markets, and Finance & Accounting. 49 Adrian Guttridge Executive Director, Business Process Services Before joining Xchanging, Adrian was Vice President of Business Processing Outsourcing, EMEA at Hewlett-Packard. In this role he was directly responsible for a business with 7,000 employees based on, near and offshore. In recent years Adrian has been running businesses wholly or substantially in financial services. He has a technology background and his 30 year career includes extensive experience specifically in the insurance sector, for example running the insurance practice for EDS (prior to its acquisition by HP), and in senior roles at Accenture and Marlborough Stirling Xchanging plc