The Nexus between Online Gaming and Situational Insurance

A fundamental challenge for any aspiring situational insurance company is 'How to reach the consumer in a sustained manner' Obviously digital marketing channels are the most efficient delivery method as they are low cost with a very high level of market reach. The challenge is that most apps etc. are downloaded, used once and never used again. We believe that online gaming/gambling is the ideal digital delivery model as online gamblers are constantly engaged and they spend money. Of course a key issue is that not all countries have legalised gaming. In a separate venture and with the support of a prominent casino owner we are looking to develop online gaming in Vietnam as they are expected to legalise online gaming in 2018. These ventures are extremely lucrative on their own as their are 97MM people living in Vietnam and the illegal gaming market exceeds $6 Billion per year. It is estimated that when legalised gaming revenues will exceed $20 Billion a year. We estimate that over 20MM Vietnamese adults will be active online gamblers and they are the perfect profile for situational insurance products. The key of course is to begin the process now as the platform, brand, marketing and licensing strategy must be in place far in advance of actual legalisation