10 The start-ups were each categorised against one of our six key trends, whilst insurers were asked about the potential impact of each trend on their businesses. We are therefore able to compare the number of start-ups active in each trend against the ex- pected importance of the trend to established insurers. The trends were categorised into external-facing (focusing on customers) and more internalised themes (focused on the back office and process), as follows: External view: 1. Enhancing interactions and building trusted relationships (Highest number of applications to Startupbootcamp vs 4th most impactful trend for corporates) 2. Meeting changing customer needs with new offerings (Third biggest category of start-up applications vs number one most impactful trend for corporates) 3. Leveraging broader ecosystems (Fifth biggest category of start-up applications vs sixth most impactful trend for corporates) Internal view: 4. Enabling the business with operational capabilities (Second highest number of start-up applications vs fifth most impactful trend for insurers) 5. Leveraging data and analytics to generate risk insights (Fourth highest number of start-up applications vs second most impactful trend for corporates) 6. New approaches to underwriting risk and predicting loss (Lowest number of start-up applications vs third most impactful trend for corporates)