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.