Foxo SPAC Presentation Deck
INDUSTRY STAKEHOLDERS: CORE CHALLENGES
Consumers
Product has low relevance and
commoditized
1989
77%
H.H. ownership of life insurance
"Death isn't what it
used to be" and
products struggle
for relevant value
proposition
(1)
FOXO INVESTOR DECK 2022 Page 14
2021
52%
(2)
ā 21%
Premium sales have.
increased from 2Q20
COVID-19
(1) What Explains the Decline in Life Insurance Ownership?, Daniel
Hartley, Anna Paulson, Katerina Powers, 2017; Insurance Barometer
Study, Stephen Wood; Maggie Leyes; James T. Scanlon, M.S., HIA, 2021
(2) 2Q 2021 LIMRA U.S. Retail Individual Life Insurance Sales
Agents
Product is difficult to sell, underwriting
is time consuming and invasive
30%
Sales breakage rates of
independent agents
(3)
49%
Of all life insurance.
premiums are sold by
independent agents
(3)
52 Days
Avg number of days to complete life
insurance policy sale using full underwriting
by agents (i.e., paramedical blood & urine
specimen collection)
(3) LIBRA Data (2021)
(4) 2Q 2021 LIMRA U.S. Retail Individual Life Insurance Sales
Carriers
Incumbents are large, old and slow
1886"
Avg Year of Founding
Top 20 U.S. Carriers
(6)
63%
Carriers report not
prepared to deal with
genetic testing
Carriers have not made effective
use of science and technology to
improve their products, cost
inefficiencies and lackluster results.
(5) LIMRA, Insurance carrier websites
(6) Genetics Survey Results Public Report, Reinsurance Group of
America, Incorporated, 2021View entire presentation