Here're 6 Winning InsurTech Startups of IFSCA's Global FinTech Hackathon

Six applicants (4 domestic and 2 overseas) are declared winners of the InsureTechs Hackathon, post multiple round of their assessments by IFSCA, which is India’s unified regulator for international financial services with a mandate to develop and promote India as a global financial hub.

The Government of India -established IFSCA (International Financial Services Centers Authority) has its flagship global FinTech event called InFinity Forum, and as part of this it launched I-Sprint’21, the global FinTech Hackathon.

With a focus on the Insurance Sector, IFSCA launched “Sprint03: InsureTech” under I-Sprint’21, which was hosted by IFSCA and Gujarat’s GIFT city in collaboration with FICCI. This Hackathon was open to all eligible FinTechs from across the globe and was one of its kind being backed by a financial sector Regulator.

These winners of the Hackathon will be allowed direct entry into the applicable IFSCA Regulatory / Innovation Sandbox. They will receive Regulatory guidance and handholding. After a successful exit from the respective Sandbox, they shall get an opportunity to set up business at GIFT IFSC.

Below are the InsurTech winners of Sprint03: InsureTech Global Hackathon –

1. InsureTech Risks

MUMBAI

Solving Problem Statement – Development of technologies for increasing penetration, better underwriting, claims management of life / health products.

Founded in 2018, Riskcovry is an AI-powered Platform as a Service (PaaS) startup building a ‘financial infrastructure’ stack for insurance distribution in India. As an “Insurance-in-a-Box” for any company, Riskcovry enables any insurance product from any insurer across any customer engagement channel.

2. Livwell Asia

SINGAPORE

Solving Problem Statement – Digital Innovation for Global Health Insurance Cover.

Founded in 2019, LivWell is a Blockchain-based startup offering membership program that prompts the member to MOVE by simply walking and EARN rewards in the form of LivWell coins for the steps they take and calories they BURN.

3. GOQii Technologies

Solving Problem Statement – Digital Innovation for Global Health Insurance Cover

Kown for fitness wearable devices, GOQii integrated its wearable devices with insurance packages.

4. Onsurity Technologies

Bengaluru

Solving Problem Statement – Development of technologies for increasing penetration, better underwriting, claims management of life / health products.

Founded in 2020, Onsurity claims to be India’s only healthtech company providing monthly, comprehensive employee healthcare to SMEs, MSMEs, Startups and growing businesses. Its comprehensive, monthly-based plans include benefits like group health insurance, discounts on medicine orders and health check-ups, fitness rewards, doctor teleconsultation,

5. ZignSec AB

SWEDEN

Solving Problem Statement – Development of technologies for increasing penetration, better underwriting, claims management of life / health products.

ZignSec is a RegTech (regulatory technology) company with the aim to automate the process for companies to identify their customers digitally in real time. It offers a cloud based verification service provider enabling its customers to in real-time identify their users to comply with KYC.

6. Signzy Technologies

MUMBAI

Solving Problem Statement – Development of technologies for increasing penetration, better underwriting, claims management of life / health products. Read More about Signzy Here





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