Max Life Insurance has introduced the first edition of Max Life Innovation Labs in the year 2019; following the success of the first edition they are now announcing the launch of the second edition of its insurtech accelerator program.
With the implementation of the new edition, the life insurance company is inviting technology start-ups to create fintech and insurtech solutions to solve specific business challenges. Various opportunities to access knowledge, infrastructure, and support from Max Life; to transform business processes using different technologies will be provided for the start-ups. The Start-up India Hub program is hosted by Invest India in association with, the National Investment Promotion and Facilitation Agency of India.
Max Life aims at providing solutions in the areas of smart underwriting, artificial intelligence, machine learning, blockchain, health and wellness, intelligent data acquisition, and advanced data analytics, with the selection of various start-ups.
Chief Operations Officer of Max Life, Manu Lavanya commented on the launch that, they are excited to launch the second edition of Max Life Innovation Labs, flagship accelerator program and that the COVID 19 pandemic has brought about a major change in the life insurance sector, now there has been an acceleration in the need for digital technology-driven innovation in the industry.
Max Life Insurance witness the change, as an opportunity to accelerate the adoption of technology and innovation across models, products, and services, for this they will be collaborating with prospective start-ups which has the potential to emerge as leaders of the future. They focus on areas of developing robust solutions that would help the company to serve its customers and improve its ability to innovate customer interactions with various insurance offerings provided by the firm.
The final selection of start-ups will be based on their relevance and focus areas, the feasibility of the solution, its innovation, and the availability of appropriate skills in the start-up team. Max Life Innovation Labs have a strong base with over 150 applications, of which 7 dynamic start-ups were selected for working on specific problem statements.
