JOIN OUR GLOBAL JOURNEY Over the past three years we have made heavy investments into creating proven and truly scalable software for the insurance industry. With a few, but valued and global customers head- quartered in Scandinavia, the UK and USA, we have made trac- tion even without any marketing. Now we are inviting strategic partners to join the next phase, which involves launching the service to the world with a clear ambition to gain a significant market share. First stop is the USA, where the insurance sector employs 2.5 million people and the net premium written totals to USD 1.1 trillion (short scale) every year.

INVESTMENT PROPOSAL INVESTMENT PROPOSAL & EXECUTIVE SUMMARY 13 FEBRUARY 2016 Our plan for the next 8-12 months is to invest NOK 1.9m into reaching phase 2 for our business. The main goal for this phase is planning how to position our service to gain a substantial MORE INFORMATION market share in the global space. By establishing partnerships www.cloudinsurance.io and hiring key marketing personnel to conduct market re- QUESTIONS? search, we plan to grow our current customer base with 60 per Contact Axel Sjøstedt cent by the end of 2016. By the beginning of 2017, we aim to [email protected] have a clear vision on what phase 3 involves and how to get there. +47 922 01 161 Phase 2 will be funded by raising NOK 950k in equity by selling +1 (646) 400-0058 up to 7 % in shares. We will match the equity invest- ? ment with money from our running business, and hence investing a total of NOK 1.9m.

What’s in it for you? A Invest 1.9m stake in a scalable busi- 2m-8m Phase 3 ness in a large and attrac- Yearly Revenue tive market. And some Phase 2 carefully crafted travel 2m letters from our endeavors Phase 1 Solely for review in connection with the share issue in Feb/Mar 2016 – not for reproduction or distribution. overseas, starting this April. Past 12 months 8-12 months 12+ months This document is subject to change without prior notice. It may include misprints or other errors.

- 1 - - 2 - A PRODUCT MADE FOR INNOVATION A GLOBAL CUSTOMER BASE A multitude of sources points to 2016 as the year where the We cater to all entities that need to manage policies and/or insurance industry will be challenged and disrupted. The indus- claims. Our focus is to scale globally and efficiently. Currently, try is in need to innovate and move faster, which is exactly what we prioritize to offer a full-stack solution for small and mid- Cloud Insurance offers – we providea significant reduction in sized insurance agents and operating brokers, typically with time-to-market and put the end-user at the center of attention. large volumes and great benefits from process improvement/ automation. Affinity (group), specialty and travel insurance are CLOUD INSURANCE: KEY BENEFITS all areas of great interest for us. For larger insurance companies with existing legacy systems, we prefer to start with the role as »» Drastically reduce time-to-market the “internal lean startup enabler”. We can quickly onboard new customers, with a fully operat- ing insurance system delivered in hours or days, rather than SELECTED USE CASES months or years. On a running installation, new insurance » Compass Benefits Group, Inc. (MA-CA, USA) use Cloud products can be added in no time. » Insurance to serve their global network of health and travel »» Standardization meets flexibility insurance specialists. They roll out new products every week, and partners and claims agencies in 13 countries across five Ability to accommodate to specific products and processes continents are using the system as their daily go-to solution. without the hassle of large, bespoke implementation projects. We are currently translating the system to Chinese – Cloud »» Move closer to customers Insurance will soon accept AliPay payments and issue poli- cies to Chinese-speaking nationals. The end-user can be involved directly without lifting a fin- ger – sell policies and receive claim reports fully automated »» On Call International, Inc. (NH, USA) specializes in interna- online. tional travel risk management, and use Cloud Insurance to automatically accept end-user payments, issue policies and »» Utilizing the value of data provide underlying data for their risk management business. We capture the relevant data, and churn it to wide array of reports, insights and integrations readily available. This enable »» Vardia Insurance Group ASA (NO-SE-DK) utilize Cloud Insur- our customers to meet compliance demands and get better ance to provide excellent customer journeys and lean pro- information to base their decisions on. cesses for their line of affinity products. Cloud Insurance is used for sales analysis and claims management for Komplett »» Our customers are the chief of their own platform Group, the largest e-commerce player in the Nordics. Fine-grained access level control and powerful custom pric- »» AGS Forsikring AS (NO-SE) tripled the volume without add- ing and white-labeling features enable our customers to give ing man-hours when implementing Cloud Insurance. We their partners/agents access to “their own universe”. provide end-to-end policy management and claims handling for several large sports license insurance programs insuring hundreds of thousands of individuals combined. Notable programs include The Football Association of , and the Norwegian Ski Association. - 3 - - 4 - TRUSTED SOLUTION SKILLED AND EXPERIENCED TEAM

Cloud Insurance handles policies and claims for several large Axel Sjøstedt, co-founder and CEO insurers that have vetted the system and processes, including Axel holds an MsC degree from NHH Norwegian Inter Hannover, XL Catlin, Sportscover (Lloyds), AmTrust, Global School of Economics and UC Berkeley, with a major in Benefits Group and UnitedHealthcare. strategy and leadership. He is in his final semester pur- suing a BsC degree in Informatics at University of . In addition to taking part in several IT ventures, he has SCALABLE BUSINESS MODEL worked three years in the Norwegian Armed Forces as Our customers pay a SaaS fee (running license fee) to use the the National Conscript Trustee. Axel learned to operate service. The SaaS fee has a small fixed portion and a variable a computer the same year he learned walking, and has a great interest in the role of technology in society. portion: a commission of the premium amount and a fee-per- claim. Implementation costs and consultancy are paid by the Håvard Landrø Nilsen, co-founder and CTO hour, but we strive to minimize the consultancy involved. Our Håvard holds an MsC degree from NHH Norwegian goal is not to sell hours; our goal is to provide a solution that School of Economics and MIIS California, with a major offers flexibility out-of-the box. in finance. He is in his final semester pursuing a BsC degree in Informatics at University of Oslo. He was one A COMPANY READY FOR GROWTH of the three founders of Studentkortet.no AS. Håvard cannot live without his calculator and also is the lead Cloud Solutions AS develops and delivers Cloud Insurance. The coder in the company. company was founded fall 2012. In the period 2013-2015, the company has operated as a lean startup, developing the prod- Ragnar Bø, Chairman of the Board uct in cooperation with select key customers. In this three-year Ragnar is an experienced technology entrepreneur. He period, Cloud Solutions had an accumulated revenue of ap- was an active partner in founding of the Scandinavian prox 5.5 MNOK with 1 MNOK profits. CRM software company SuperOffice, and he found- ed and owned Mandatum before the company was The company is located in Oslo, Norway and has significant acquired by Software Innovation. Most recently, he was CEO at Sonitor Technologies, and he holds board posi- operations in the US. The two founders will be located in Palo tions at several technology companies. Ragnar is co- Alto in April and May 2016 attending the TINC program at Inno- located with Cloud Solutions at Havnelageret in Oslo. vation House. Susanne Hannestad, Advisor Susanne is an experienced executive in the industries of Financial Service, Management & IT Consultancy, Insurance and Payments. She has held several EVP and SVP positions at Nordea, she was a board member at MasterCard Europe Advisory Board and the Chairman of Zwipe. Susanne is CEO of Fintech Mundi, specializing in scaling fintech companies in global markets. Susanne is co-located with Cloud Solutions at Havnelageret in Oslo.

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Figure: Our current customers are based in Scandinavia, UK and USA. Through their subsidiaries and partners, Cloud Insurance already has a global footprint. The map shows locations where Cloud Insurance is used to serve the local insurance market and functions as the daily go-to tool for sales, policy and claims management.

- 7 - - 8 - TESTIMONIALS Axel and his Cloud Insurance team continue to both impress and dazzle us with their service and attention to detail. Their product specification, maintenance and response levels are outstanding and I would happily Compass is now entering our second year of working with Cloud Solu- recommend them to work with any intermediary in our sector. tions. Prior to working with Cloud Solutions, the online administration of our business was a daily concern costing a great deal of resources to Steve Brodie Director manage. Since implementing Cloud Insurance within our business, we Bannerman Rendell Ltd. have increased client satisfaction, improved the efficiency of our entire London, UK administrative operations, and are able to manage onboarding new clients and renewals at a much higher rate.

From a technical perspective, the online administrative system is very user friendly, easy for our clients and partners to access and work with, and extremely flexible to accommodate the variety of plan designs and The Cloud Insurance system, consulting and advice have provided a enrollment situations we work with. significant value-added to our services, customers and partners. The Cloud Solutions team has an excellent and effective work methodology From a servicing perspective, the principals at Cloud Solutions are true while they at the same time are very pleasant to cooperate with. I high- partners – they are always accessible for any needs we have, work very ly recommend their products and services to anyone in the insurance quickly to meet our timelines, and are creative in developing solutions industry that wants to be up to speed with the technology of the future. to maximize our efficiency. Most importantly, Cloud Solutions continu- ally works with the commitment to operating with the highest levels of Lars Petter Myklebost integrity and character. CEO AGS Forsikring AS John Fleming Asker, Norway Director Compass Benefits Group, Inc. Hanover, MA, USA

A key to success in the market of today (and tomorrow!) is using IT effi- ciently. We are in the process of launching our business, and after care- fully considering several solutions we chose Cloud Insurance. We are Cloud Insurance is at the centerpiece of our whole range of affinity extremely happy with the result. Let me say it like this: I am convinced products. The flexibility to automate and streamline processes that that Cloud Insurance is the best insurance software available. It offers differ between products is remarkable, and fits right into our strategy great user experiences, enables us to automatically optimize our sales of offering the best user experience possible. efforts, and give self-administration access to our partners. The report- ing and compliance side of things is rock-solid. Cloud Solutions has a Patric Ljung unique way to tie business and technology understanding together. We Head of IT are thrilled to work with them. Vardia Insurance Group ASA , Magne Heitnes CEO Norsk Tannhelseforsikring AS Oslo, Norway

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