An introduction to Ezicover

Kevin CanningStrategic Account Manager- Life Risk

June 2013

Zurich Life Risk

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Disclaimer

• The information contained in this material is general information and intended for the use of professional advisers. It does not take into account the objectives, financial situation or needs of any person. These factors should be considered before acting on this information. No part of this presentation may be reproduced without prior consent of Zurich Financial Services Australia.

• Zurich Australia Limited (Zurich) and its related companies receive remuneration such as fees, charges or premiums for the products which they issue. Details of these payments including how they are calculated and when and how they are payable can be found in the relevant Product Disclosure Statement, or other disclosure document for each product.

• The information is derived from sources believed to be accurate as at this date, which may be subject to change. It should not be considered to be a comprehensive statement on any matter and should not be relied on as such.

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The Direct Team

Julie McCormackHead of Distribution and

Strategy

Annette BranNational Relationship

Manager

Claire BurdenBusiness Support Officer

Simone WaightsProject Manager

Sylvia KimNational Digital Sales &

Marketing Manager

Rachel AshleyDirect Marketing Manager

Ezicover - the opportunity

• 41% of people say life insurance is too complicated and 1 in 4 don't know where to start*

• In a 2010 Life Insurance report, 92% of respondents wouldn’t knowingly take a risk of being uninsured or underinsured**

• When non-insured persons were asked to estimate the annual cost of a life insurance policy they overstated the cost by between 49% and 65%**

Zurich under the brand name Ezicover, offers a range of simple, affordable Insurance Products. Specifically designed as an added value line extension for organisations like yours

ix OnePath Life (formerly ING Life) Australia's Attitudes Towards Life Insurance, December 2008

** Lifebroker Life Insurance report 2010

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5

Ezicover - the value

Category Value

Direct life insurance &

Income

$130m sales in 2011 (20.7% increase on 2010)*Term, Income Protection and Accident constitute 40% of the direct market

Direct funeral cover$95m sales in 2011 (24.7% increase on 2010)*

Constitutes 20% of the direct market

Direct accident products $18m sales in 2011 (15.3% increase on 2010)*

Financial advice 9% growth per annum for risk advice*The factsAustralia is one of the most underinsured nations in the developed world^ In 2011, total direct life insurance sales were$279m*

$49m of direct life insurance was purchased online*

Risk insurance is a $10 billion market that will more than double in the next 15 years.*

* Rice Warner Actuaries – Direct Life Insurance 2012^ Swiss Re Economic Research & Consulting , 2007

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Ezicover - extends your current offer

• Adds significant, relevant products and services to your existing product range

• Adds value to the customer experience

• All systems and procedures are provided and supported by Zurich and Eziadvice - no added pressure on IT resources and minimal impact on human resources

• Not competitive to your existing offer – select from the suite of products/services to compliment your current proposition

Resources and costs

• Minimal resources required from you to establish and maintain this offering

• No set up or capital costs

• No marketing costs *

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The products

Product Overview Cover level Age

Ezicover Life InsuranceLump sum on death or terminal illness

Up to $1.5m* 19 to 59

Ezicover Funeral Advantage

Lump sum to cover the cost of a funeral

$5,000 - $15,000 35 to 70

Ezicover Accidental Death Lump sum on accidental death $50,000 - $500,000 19 to 70

Ezicover Accident IncomeMonthly benefit on inability to work due to accidental injury

$2,000, $2,500, $3,000, $3,500, $4,000 per month

19 to 60

• Award winning products• Competitively priced• Online application process• Customer focused

2010 2012*Up to age 45, $1m (age 46-54), $750k (age 55-59)

Policies remain in fo

rce

average of 10 years

Retention ra

tes

approx 92% over 10 years

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Customer focused

Ezicover Funeral Advantage is different

“good products were on offer, including a Zurich policy that halted premiums once the insured amount was reached” Richard Weatherhead - Herald Sun, February 25 2011 www.heraldsun.com.au

"Be cautious about looking at the terms and conditions of the insurance policy to see what happens in the long term,“Richard Weatherhead - Herald Sun, February 25 2011 www.heraldsun.com.au

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Funeral insuranceNever pay more in premiums than the sum insured – with Ezicover you get what you pay for! With other funeral plans, the longer you live the more you pay!

Age now Life expectancy

45 81.6

50 82

60 83.2

45 50 60 $-

$5,000.00

$10,000.00

$15,000.00

$20,000.00

$25,000.00

$9,

839.

76

$13

,416

.36

$22

,865

.16

$7,

946.

57

$8,

353.

29

$14

,537

.43

$5,

850.

72

$7,

055.

28

$10

,000

.00

Male $10,000 Funeral Plan

RealInsurancelineZurich

AGE NOW

TOTA

L PRE

MIU

MS

PAID

AFT

ER 2

0YRS

Figures current as at 1st March 2013

Funeral insurance

With Ezicover the total premiums would never exceed the value of the policy. With other funeral plans a person may end up paying up to $20,000 for $10,000 of cover.

Age now Life expectancy

45 85.3

50 85.6

60 86.4

Figures accurate as at 18 November 2011

45 50 60 $-

$5,000.00

$10,000.00

$15,000.00

$20,000.00

$25,000.00

$9,

839.

76

$13

,416

.36

$22

,865

.16

$7,

946.

57

$8,

353.

29

$14

,537

.43

$4,

818.

24

$5,

649.

96

$10

,000

.00

Female $10,000 Funeral Plan

Real Insurance

Insurance line

Zurich

AGE NOW

TO

TA

L P

RE

MIU

M P

AID

AF

TE

R 2

0YR

S

Figures current as at 1st March 2013

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Distribution

Direct mail Online application

Email

Postcards Phone application

Counter brochure

Customer offersOnline content and

campaigns

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Ezicover – your branding

• All material can be branded, to build and reinforce your brand.

• Leverage the market leadership of the Zurich brand.

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Technology – interactive tools

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Summary

Your business.

Our proposition

Let US do the work and pay YOU for it

Value add service for your members

Quality nil-advice products

Your brandingThe offer looks like

it’s from your business, with your

branding

Seamless integration with your business

Minimal administration and time required for you to be able to offer

this service

No administration or cost for your business

We manage all the marketing and

campaigns, at no cost to you

Training for your staffWe provide all the staff

training and tools, enabling you to

confidently provide this member service.

New income stream for your business

You receive 20% commission of all

premiums received

Backed by

one of the world

’s

most valuable brands

Interbrand’s

Best Global B

rands

Survey 2011

Your clients.

Your proposition

Financial security for all stages of life

with quality, affordable life

insurance.

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Summary

The products

The offer

Fulfillment

Follow-up

• Four life insurance products• Quality products that are affordable and competitive• Easy to understand and apply for • Stand alone product range that is not linked to a loan or superannuation• Underwritten by Zurich Australia Limited

• An Ezicover weblink for your existing site for customers to apply online• Web promotional tools and web copy • Insurance marketing and campaign management, including offers• Customer offer appears on your letterhead or via your website• Convenient and simple online or written application process

• Call centre available to handle any customer enquiries • Policy documentation sent directly from Zurich• We take care of mailing any campaign offers• We provide your staff training and support collateral to handle enquiries

• Weekly sales reports• Weekly commission payment