 Hello everyone. My name is Lukas and I'm actually a bit surprised to be invited to have a talk on this event because I live or sorry I work in one of the most disliked industries of our time and just to give you a sense of that let me show you what you would find if you were to go to the Urban Dictionary and look for the definition of this industry. This is what the crowd has agreed upon. It's a business that involves selling people promises to pay later that are never fulfilled. So let me give you three hints. The first one is that it's a service that you're all using and paying for each and every day of your entire life. The second hint is that it's a very profitable business, one of the most profitable industries that exist at least in Sweden, where I'm from. And the third hint is that it's a bit strange that it's so disliked because if you think about it it's actually all about helping people in need. So the right answer here ladies and gentlemen is insurance. So why is this? I mean why do people seem to believe that insurance is essentially one big scam? Well the crowd offers us a clue here as well because let's look into how the business model of insurance actually works. And I think we all know the first part. I mean you pay your insurance bills to the insurer every month because you want to feel safe, right? The problem arises when you need help because then the insurer has every incentive to make it as difficult as possible for you to get paid. And that is quite natural because the less it pays to you, the more it can keep in profits. And I know this far too well because it used to be my job. I used to work as a strategy consultant helping big insurance companies to lower their claims payouts to their customers. And I can tell you I'm not very proud of that. But I decided to quit and spend all my time and energy on changing insurance. So I started Hedwig together with my co-founders Frederick and John. And Hedwig is an insure tech company that over renters and homeowners insurance to Swedish consumers. And Hedwig does not make money by denying claims payments. That was actually one of the first thing that we did was changing the business model around to make it fair. And let me show you exactly how that works. So out of the money that we get from our members, we only charge a flat fee to cover the service. The majority goes into a claims pool. And whenever any of our members need to make a claim, they can get an instant payment from that claims pool. By the end of the year, if there is money left over in the claims pool, that money does not go to us. Instead, we have selected to donate that to a charitable cause selected by our members. And with that mechanism, we make it impossible for us to earn more by paying less. So we focus not on making claims difficult, but we see it as our mission instead to make it into a remarkable experience. And what would that look like? I mean, what would a remarkable insurance experience be like? Well, let's imagine a scenario. Let's imagine that we're on vacation in the magnetic city of Tokyo. We explore Shibuya. We see the cherry blossom and, of course, indulge in the food scene when suddenly someone calls from back home to let us know that our loved one is in an ambulance on its way to the hospital. I think if that would happen, we would all agree that the one thing we could think about was getting home as soon as possible. And what if you could open up an insurance app, ask for help, and get a new plane ticket sent to your phone minutes later covered by your travel insurance so that you can be on the next flight out and by the hospital bed the next day? Wouldn't that be quite remarkable? Well, I think so. And with Hedwig, that is a reality today. This is a real example of an experience that we offered one of our members just a few weeks ago. And it makes, I'm genuinely proud that we can help out in that way. This couple is all on good health today. And they're very grateful for being reunited this fast. So I think this is a great example of what you could do, how simple you could make an insurance experience if you use technology and if you build an insurance company based on a different set of values. It also seems to make our members very happy. And I think especially if you compare them to the average insurance customer, I think it's fair to say that they are a bit happier than the average one. They also help us to spread the word. And they do it so fast that in just six months after launch we're ensuring thousands of households all across the nation. But today, I can actually show you exactly how Hedwig works, because a terrible accident happened to me in the sauna this morning. And I need to make a claim and get some help. So if you don't mind, I thought I could just go ahead and report that. So let me just open up the app here. Okay. Hello, Hedwig. My name is Lukas. And I was in the sauna this morning reading the tales from Moomin Valley on my Kindle. And I accidentally dropped the Kindle into the sauna bucket. And it looks like it's completely water damaged. It's broken. It doesn't start. And I bought it just three months ago for 200 bucks. So if you could please help out, that would be fantastic. I actually really enjoy the book. So whatever you can do. Thanks. So now Hedwig, analyze my message to see if I'm eligible for a payout. Let's see. That's how remarkable insurance can be if you want it to be. Thank you very much.