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Max Life Insurance introduced Max Life Innovation Labs in 2019, a corporate accelerator program that will provide technology startups with 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, Startups will get a unique opportunity to access knowledge, infrastructure, and support from Max Life Insurance 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. Interested startups can apply by January 16, 2021.
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.
Problem Statement
Smart Customer Profile Report
Ability to generate insights from medical, financial documents and external sources; to summarize data from reports to form intelligent digital reports; 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; the latter 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 the 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 improve their health outcomes through targeted programs; a platform that offers the capability to manage chronic diseases such as diabetes, hypertension; also a 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, also, an 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 and claims processing.
Incentives
On a successful POC deployment, Max Life Insurance will be the first customer for the startups. It will also allow executing paid-POC with Max Life Insurance. Further, you can get access to Startup India network of investor partners through one-on-one sessions and get to pitch your solution for raising investment.
As for non-fiscal incentives, you will receive dedicated and weekly mentoring sessions by CxOs and functional business leaders for selected startups and you will also get dedicated individual mentoring sessions by external business and tech mentors. You'll have tech infra like access to Max Life Business APIs, Web Apps, free cloud credits, technical guidance on information security, engineering, DevOps, etc. Further, you'll receive free collaborative working space in state-of-the-art facilities in metro/Tier-1 cities through Max Life Insurance co-working space partners.
Apply here.