Wrisk's 2021 investor presentation is a data-heavy 13-slide deck that successfully articulates the transition from 'analogue' point-of-sale insurance to a seamless digital experience. By focusing on the 'Mobility' sector, Wrisk demonstrates how their platform integrates with major OEMs to drive higher conversion rates and lower Customer Acquisition Costs (CAC). The deck is particularly strong in its presentation of unit economics, contrasting their 'MINI Driveaway' and 'MINI Flex' products to show a 3x improvement in participation rates. While it lacks a traditional team slide or a detailed b…
Key takeaways
- The deck identifies a €1.5 trillion market where current analogue methods only capture 1% of potential (Slide 3).
- Wrisk positions itself as a B2B2C platform that is FCA authorized and utilizes RESTful APIs for seamless brand integration (Slide 5).
- The company achieved a record Q3 in 2020, pointing to £10M of annualised premium (Slide 8).
- Unit economics for the MINI Flex product show a low CAC of £13 and a high renewal rate of 78% (Slide 8).
- The 'MINI Flex' product launch resulted in a 14.2% participation rate, a 3x improvement over the traditional 3.7% rate (Slide 9).
- Wrisk has secured major contracts with BMW/MINI and RAC, including a joint development of a 'Pay as you Drive' product (Slide 7).
- Financial projections suggest a base case path to profitability by 2022 with an aim to launch with 10+ brands by 2025 (Slide 11).
- International expansion plans target Australia and the USA, leveraging a strategic partnership with Allianz (Slide 12).
Executive Summary: The Shift to Embedded Insurance
The Wrisk investor presentation from January 2021 is a focused, data-driven pitch that centers on the 'Mobility' sector. Unlike many early-stage decks that rely on vision and hypothetical markets, Wrisk uses its 13 slides to demonstrate proven traction with tier-one automotive partners. The narrative is clear: insurance is moving from an 'analogue interruption' to a digital 'insertion point' at the moment of sale. With $19.3 million raised to date, this deck serves as a progress report and a roadmap for scaling a B2B2C platform globally.
Slide 1-2: Title and Vision
The deck opens with a clean, minimalist title slide (Slide 1) dated January 2021. The branding is consistent, using a blue-to-green gradient that persists throughout the presentation. Slide 2 presents the vision: "Transforming the way insurance is sold globally." It is a standard, high-level opening that sets the stage for the specific problem-solution framework that follows.
Slide 3-4: The Problem and the Embedded Solution
Slide 3, titled "Rise of the Digital Consumer," identifies the market inefficiency. It characterizes current Point of Sale (POS) insurance as an "analogue interruption" involving paper and phone wait times. Crucially, it cites Oliver Wyman data stating that this current method only captures 1% of a €1.5 trillion market . Wrisk positions itself as the "digital insertion point" that integrates when customers care most.
Slide 4 defines "Wrisk is Embedded Insurance." It breaks down the value proposition into three pillars: Delight customers (UX), Maximise value (Conversion/LTV), and Future proofing (Real-time data). This slide is essential for investors to understand that Wrisk isn't just a broker; it is a technology layer designed for large-scale brand integration.
Slide 5-6: Platform Capabilities and Mobility Focus
Slide 5 outlines the "Wrisk Capabilities." It highlights that the platform is FCA authorised , cloud-based, and uses RESTful APIs. It also mentions the "WriskScore" for transparency and a subscription billing model. This technical overview assures investors of the platform's robustness and regulatory compliance.
Slide 6 narrows the focus to "Wrisk Mobility." It details how the platform delivers frictionless experiences specifically for the automotive sector. Features mentioned include complimentary insurance that rolls into paid subscriptions, cross-selling of ancillary services (like cosmetic repair or legal expenses), and readiness for future trends like autonomous driving and 'Mobility as a Service.'
Slide 7: Case Studies (BMW and RAC)
This is arguably the strongest slide in the deck. Slide 7 showcases "Signed contracts with BMW/MINI and RAC." It provides visual mockups of the app interface for "MINI Flex Car Insurance" and "RAC Pay as you Drive." Seeing the logos of global giants like BMW alongside the Wrisk interface provides immediate institutional credibility that few startups can match.
Slide 8-10: Traction and Funnel Metrics
Slide 8, "Traction," provides a dense look at 2020 performance. Key figures include 19,342 policies in force , £11.0M in GWP , and £1.7M in revenue . The unit economics table is particularly revealing, showing a CAC of just £13-£15 and annual profits per customer of £40-£73 . The bar chart shows steady growth in customer adoption from Q1-19 through Q4-20, despite a noted "Covid-19 impact" in mid-2020.
Slide 9 dives deeper into the "MINI Flex Programme Funnel Metrics." It compares the old "MINI Driveaway" product (3.7% participation) to the new "MINI Flex" product (14.2% participation). This 3x improvement in conversion is the core proof point for Wrisk's technology. Slide 10 focuses on the "RAC Opportunity," projecting a "Base Plan" and "Aspirational Plan" for their Pay-as-you-drive product, with Year 3 GWP reaching between £21.1M and £42.3M.
Slide 11-12: Financials and International Expansion
Slide 11 presents the "Financials (Base Case)." Wrisk claims a "credible path to profitability by 2022." The charts show GWP scaling aggressively to £254.2M by 2025 , with EBITDA turning positive in 2023. A small note at the bottom mentions a "Series A Q2 2020 raise (£4M+)" to fund the plan, though the catalogue facts suggest a total of $19.3M raised over time.
Slide 12, "Further Upside (Good Case)," looks at international expansion into Australia (AUS) and the USA. It mentions leveraging a partnership with Allianz to provide OEM-branded digital interfaces. The slide notes that the US auto insurance market is worth $214bn, representing a massive untapped opportunity for Wrisk's usage-based insurance (UBI) model.
Slide 13: The Legal Disclaimer
The final slide is a standard, text-heavy legal disclaimer. While necessary for compliance, it offers no additional strategic value to the teardown.
What Works in the Wrisk Deck
1. Comparative Data: The deck does an excellent job of comparing its new digital products against traditional benchmarks. Slide 9 is a masterclass in this, showing exactly how the 'Flex' model outperforms the 'Driveaway' model across every metric, from participation to survival rate.
2. Blue-Chip Validation: The inclusion of BMW, MINI, and RAC isn't just a list of logos; it includes actual product screenshots and specific contract outcomes. This proves that the platform is enterprise-ready and integrated into real-world supply chains.
3. Transparent Unit Economics: Providing a clear breakdown of CAC, Commission, and Annual Profit (Slide 8) allows investors to model the business easily. A CAC of £13 against a profit of £73 is a highly attractive ratio for a growth-stage company.
What is Missing from the Wrisk Deck
1. The Team Slide: Most notably, there is no slide introducing the founders or the leadership team. For a company that has raised nearly $20 million, investors usually want to see the pedigree of the people managing those funds, especially in a highly regulated space like insurance.
2. The Competitive Landscape: The deck assumes Wrisk is the only player in embedded insurance. There is no mention of competitors like Root, Metromile, or other insurtech platforms that might be vying for the same OEM partnerships.
3. The Specific 'Ask': While the financials mention a path to profitability and past raises, the deck does not explicitly state how much they are looking to raise in this specific round or how those funds will be allocated (e.g., % to engineering vs. % to international sales).
What a Founder Should Copy
1. The 'Analogue Interruption' Framing: Founders should copy how Wrisk frames the problem not just as 'old technology,' but as a specific point of friction (the 'interruption') that loses 99% of the market. It makes the solution feel inevitable rather than just 'better.'
2. Segmented Traction: Wrisk doesn't just show one big growth number. They break down traction by specific programs (MINI Flex vs. RAC). If you have multiple product lines or partnerships, showing which one is the 'engine' of your growth is highly effective.
3. The 'Upside' Slide: Slide 12 is a great way to show ambition without cluttering the core 'Base Case' financials. It tells investors: "Here is what we will definitely do (UK), and here is the massive bonus if we execute internationally (US/AUS)."
Frequently asked questions
- What is Wrisk's core value proposition?
- Wrisk provides 'Embedded Insurance,' which means integrating insurance coverage directly into the purchase process of a product or service. According to Slide 4, this aims to delight customers with world-class UX, maximize value by increasing Lifetime Value (LTV), and future-proof the business through real-time data and novel rating approaches.
- How does Wrisk acquire customers?
- Wrisk uses a B2B2C model, partnering with global brands to reach consumers at the Point of Sale (POS). Slide 7 highlights signed contracts with BMW/MINI and RAC. By embedding insurance into these high-trust brand experiences, Wrisk achieves significantly lower CAC (£13-£15) compared to traditional direct-to-consumer insurance models (Slide 8).
- What specific traction metrics are shared in the deck?
- Slide 8 reports 19,342 policies in force for 2020, generating £11.0M in Gross Written Premium (GWP) and £1.7M in revenue. They also note a run rate of 1,500+ monthly binds and an MRR exceeding £150K as of Q4 2020. Their 'MINI Flex' product shows a 14% participation rate, significantly higher than the 4% seen in their 'Driveaway' product.
- What are the company's future financial goals?
- As stated on Slide 11, Wrisk expects to reach profitability by the end of 2022. Their 'Base Case' projections show GWP growing from £11M in 2020 to over £200M by 2025. They assume a 10% commission across the portfolio and an average policy tenure of three years.
- What is the 'Wrisk Score' mentioned in the company description?
- While the company description mentions a Wrisk Score to help customers understand their risk, the deck focuses more on the B2B2C platform capabilities. Slide 5 lists 'Transparency via WriskScore' as a key capability, and Slide 7 notes that premiums for the MINI Flex product are based on this score, allowing for personalized pricing.
