As Insurance Edge reported a few weeks ago, India is set to grow as an insurance market, due to economic growth, population rises and a gradual opening up of the market itself by the local regulators. Here’s some news from Max Life, who are seeking to bring together innovators in the insurtech sector;
Following the successful launch of its unique ‘InsurTech’ accelerator programme ‘Max Life Innovation Labs’, Max Life Insurance Co. Ltd. is now expanding the programme to include distinct business challenges and bringing on board strategic ecosystem partners to provide mentoring and business support to startups.
Building upon keen response from over 70 innovative startups across and beyond the country, Max Life Innovations Labs is now expanding the scope of focus areas to include new challenges including speech recognition, document parsing, alternate to conventional medical tests and integrated financial view for customer.
These are aside the earlier identified areas of intelligent data acquisition and processing generated from online/offline sources, customer engagement in health & wellness, customer engagement in personal finance & retirement planning, smart underwriting, intelligent agent/seller hiring, financial management and more. With a vision to maximise innovation, business teams at Max Life have identified additional use cases that will allow the participants to build scalable solutions by leveraging new age technologies such as artificial intelligence, blockchain, internet of things, big data to facilitate greater novelty in the insurance sector.
Under this programme, Max Life is inviting disruptive startups and out of the box thinkers to partner with them in creating futuristic tech-based solutions for Max Life in a rapidly advancing life insurance industry. The selected startups will also get access to ecosystem partners in the program such as Startup India, AWS, Blume Ventures, Revstart, Venture Garage etc.
Prashant Tripathy, CEO and Managing Director, Max Life said, “We are excited to widen our call for collaboration to a larger base and look forward to receiving more participation from this promising startup community, who we believe has the potential to build solutions.”
The application window is open till 17th November where interested startups with innovative solutions to above areas can apply on www.maxlifeinsurance-innovationlabs.com.