1. Managing Risk in a Shared Economy Presented to Connecticut/Westchester Business Travel Association

2. Cartus Relocation leader since 1955 Offerings include: -Employee relocation -Global policy and program development -Mobility trends -Group moves -Customized talent & HR websites -v

3. Jacob Street Partners Five distinct insurance products: 1.Home, Auto and Liability Insurance for foreign nationals or repatriating Americans inbound to the US 2.Vacant Home insurance for assignees leaving their home in property management in the US and going on assignment 3.Global Renters Insurance (Personal Property and Liability) and Auto insurance anywhere in the world (excluding North Korea, Iran) 4.Short Term Secure- Insurance for those in Corporate Apartments 5.Global Secure- Insurance that combines transit, travel and renters insurance on a global basis

4. Managing Risk In a Shared Economy How does it impact the world of travel?

5. Presenters: Insurance & Risk Management Elizabeth Soley- President, Jacob Street Partners Global Relocation Consulting Cindy Madden- Director, Cartus Consulting Solutions

6. Shared Economy In 2011, Time Magazine named the sharing economy one of 10 Ideas that Will Change the World.named10 Ideas that Will Change the World Sharing means producing and wasting less things Good for the environment Social interaction

7. When did you first hear about the “Shared Economy”?

8. How we live, get around and work

9. Key Players AirbnbMarket Cap $25 Billion Uber/LyftMarket Cap $41 Billion/$2.5 Billion WeWorkMarket Cap $10 Billion

10. Direct Impact on Relocation & Travel Uber vs State of California ruling Impact on relocation (Destination Services, Limo Drivers, Real Estate) Airbnb entering in to the temporary housing space Partnership with Bridgestreet Lump sum programs such as Urban Bound and Move Guides Used occasionally for hard-to-find rentals, such as 4 bedroom house

11. Scenario 1- Housing Part 1 An assignee is provided housing by their employer while on assignment in the US. They decide to go on vacation for two weeks and rent the home out on Airbnb to earn additional money.

12. Scenario 1- Housing Part 2 While two interns are rooming together on the company’s lump sum funds, one went away for two weeks on vacation; the other employee rented out his buddy’s bedroom in his absence.

13. Scenario 1- Housing Part 3 A company is considering implementing a flexible housing policy for their new assignees. The flexible policy will enable the assignee to use their housing allowance to obtain housing as they wish, including renting an apartment via Airbnb instead of signing a traditional lease.

14. Scenario 2- Automobiles/Transportation Part 1 An assignee is provided a vehicle by their employer while on assignment in the U.S. They would like to earn some extra money on the side and decide to become an Uber driver on the weekends. The assignee uses the vehicle provided to them by their employer for their Uber driving.

15. Scenario 2- Automobiles/Transportation Part 2 A company is considering implementing a flexible transportation policy for their new assignees. The flexible policy will enable the assignee to use their car allowance to find transportation as they wish, including forgoing a vehicle and using the funds to find transport via Uber/Lyft/Taxi etc.

16. Scenario 3- Shared Workspaces Part 1 A company is considering implementing a flexible working policy, whereby they provide assignees with alternative workplaces when they are traveling to locations that the company does not have an office in. This policy would enable assignees to rent shared workspaces in locations around the world rather than working from their hotel room.

17. Scenario 3- Shared Workspaces Part 2 An assignee is provided housing by their employer while on assignment in the U.S. They decide that they would like to earn some extra money on the side and network with other individuals in their new city. The assignee decides to use their apartment as a shared workspace.

18. Policy Considerations  Work with a relocation provider or corporate travel provider who manage long and short term business travel for consistency and quality  Although cost of corporate housing / hotels may be high, need to balance that with the safety/security of employees  Offer a protected website for interns to find roommates  Offering a lump sum program for interns and early talent may increase likelihood of employees developing creative ideas for saving /making money. Spell out the rules.  Written policies need to clearly explain that anything provided by the Company during business travel (apartment, rental car, etc.) is not to be used for self-enrichment  Company needs to offer, at a minimum, compliance support for employees traveling cross borders  Unless there is no other option, companies should not consider “C” level rental properties for their employees  There should be set standards for the grade of hotel to be used during business travel

19. Closing Thoughts