Applications Invited for Max Life Innovation Labs 2.0

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Max Life Innovation Labs 2.0

Max Life Insurance introduced Max Life Innovation Labs in 2019, a corporate accelerator program that will provide technology start-ups a chance to work together with one of India’s leading life insurance businesses to build smart solutions for specific business challenges.

The accelerator program is launched in collaboration with Startup India. Through this program, Start-ups will get a unique opportunity to access knowledge, infrastructure, and support from Max Life Insurance in order to transform business processes through technology and be noticed. After a successful first edition, we are announcing the second edition of our accelerator program to scout more innovative start-ups.

Eligibility Criteria:

The applicant must have a Minimum Viable Product (MVP) proposition, broadly aligned with the problem statements or use cases shared under the program.

Themes for Challenges:

• Smart Customer Profile Report
• Digital Twin
• Intelligent Data Acquisition
• Health & Wellness
• Non-invasive medical tests
• Insurance in a Box
• Blockchain Networks for Insurance

Problem Statement:

Smart Customer Profile Report

• Ability to generate insights from medical, financial documents and external sources
• Ability to summarize data from reports to form intelligent digital reports
• Ability to provide goal based decisions to the customer to enhance financial credibility and health & wellness

Digital Twin

• Augmented reality and Virtual reality solutions in the areas of sales, customer engagement and marketing
• Visual avatar to display human like conversational capability
• Conversational ability powered by technologies such as AI & Machine learning

Intelligent Data Acquisition

• Intelligent data acquisition on customers/prospects from online and offline sources
• Leverage all digital footprint to ascertain profile of individual enabling need based assessment
• Determine consumer profile through unstructured text from SMS/ financial statements like credit card statement
• Data enrichment activity through third party providers with potential vendors and information collected by sales and service teams during interaction with customers

Health & Wellness

• Provide health and wellness proposition to the customers that improves their health outcomes through targeted programs
• Platform that offers capability to manage chronic diseases such as diabetes, hypertension
• Platform that adequately engages with the customer in the health journey

Non-invasive medical tests

• Non-invasive technology solutions to capture medical profile
• To be able to use video based solutions for medical interviews which are powered by AI
• Exploring epi-genetics as an alternative source as medical profile
• External database of health markers, medical condition, health scores

Insurance in a Box

• Build a white-label platform which can allow insurers to sell on-demand insurance on partner eco-system/ under-served segments
• API's that enable direct plug-in with the partners in the allied eco-system such as health, hospitality, retail and financial services
• Embed products into partner platforms, customer eco-systems and shopping experiences

Blockchain Networks for Insurance

• Solutions which can help network relationships across the insurance value chain in areas such as smart contracts, policy administration, renewals & claims processing

Incentives:

Fiscal Incentives

• On a successful POC deployment, Max Life Insurance commits to be the first customer for start-ups.
• Opportunity to execute paid-POC with Max Life Insurance
• Get access to our network of investor partners through one-on-one sessions andn  get to pitch your solution for raising investment

Non-Fiscal Incentives

• Dedicated and Weekly mentoring sessions by CXOs and functional business leaders for selected startups. Also, dedicated individual mentoring sessions by external business and tech mentors.
• Technology Infrastructure: Access to Max Life Business APIs, Web Apps, free cloud credits, technical guidance on information security, engineering, DevOps, etc.
• Access to Data: Access to Max Life’s customer database for building and testing the PoCs
• Working Space: Free collaborative working space in state-of-the-art facilities in metro/Tier-1 cities through our co-working space partners

Deadline: 16th January, 2021

For more information please check the Link