
The selected startups will engage with Max Life to complete a 90-day long proof of concepts on the selected use cases
New Delhi, Delhi, India:Max Life Insurance Co. Ltd. (“Max Life” / “Company”) today announced the selection of four startups to engage with under the second edition of its flagship InsurTech accelerator program – ‘Max Life Innovation Labs 2.0’. Through a virtual ‘Pitch Day’, organized on March 10 and 12, these four startups were selected from over 210 applicants. These shortlisted startups interacted with Max Life over the last two months to build innovative tech-based solutions to use cases in the life insurance space and capitalize on emerging technologies to invent and reinvent products, services, and business models.
Selected Startup |
Technology Theme |
Use Case Description |
CoRover.AI |
Digital Twin |
Augmented reality and Virtual reality solutions in the areas of sales, customer engagement and marketing |
Finarkein |
Data Acquisition |
Intelligent data acquisition on customers/prospects from online and offline sources |
Scanbo |
Non-invasive medical tests |
Non-invasive technology solutions to capture medical profile |
Lapetus Solutions |
The program was held in partnership with Invest India – the national investment promotion & facilitation agency of India, that hosted the program on the ‘Startup India Hub‘. The four selected start-ups will partner with Max Life to co-develop solutions in the areas of non-invasive medical tests, digital twin, intelligent data acquisition, and health and wellness through targeted programs.
Commenting on the program, Manu Lavanya, Director & Chief Operations Officer, Max Life said, “It has been inspiring to witness the response Max Life Innovation Labs has received in its second edition. Amidst a year of propelled focus on digitation, Max Life Insurance has accelerated its journey towards building end-to-end digital solutions. Through our partnership with the selected start-ups, we recognize an opportunity to leverage their niche capabilities and unlock digital disruption of business processes in making Max Life a digital-first insurance company. Max Life believes in the power of leveraging the digital ecosystem to drive nonlinear transformation, and we would like to thank Startup India Hub and Amazon Web Services for hosting the program, and sharing their sectoral expertise for the benefit of the entire life insurance ecosystem.”
Mr. Deepak Bagla, MD & CEO, Invest India said, “Insurtech startups are initiating a new-age digital transformation in the sector. With access to dedicated resources and industry mentorship, they have an opportunity to bring their ideas to life and develop unique solutions. Max Life Insurance’s accelerator program – Innovation Labs – has helped strengthen the entrepreneurship ecosystem significantly.”