Maxlife

Inviting technology start-ups to to work together and build smart solutions to transform the future of life insurance.

About The Program

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

Start-ups now have a unique opportunity to access knowledge, infrastructure, and support from Max Life Insurance in order to transform business processes through technology and be noticed.

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About
The Program

Max Life Insurance is introducing Max Life Innovation Labs, 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 Fintech or Insurtech solutions for specific business challenges.

Start-ups now have a unique opportunity to access knowledge, infrastructure, and support from Max Life Insurance in order to transform business processes through technology and be noticed.

Program Focus Areas

Max Life Innovation Labs encourages all technology startups who are building solutions that have the potential to transform life insurance business to apply for participation in the accelerator program.

  • Smart Customer Profile Report

    Smart Customer Profile Report

  • Digital Twin

    Digital Twin

  • Data Acquisition

    Data Acquisition

  • Health & Wellness

    Health & Wellness

  • Non-invasive medical tests

    Non-invasive medical tests

  • Insurance in a Box

    Insurance in a Box

  • Blockchain Networks for Insurance

    Blockchain Networks for Insurance

Some of the specific solutions / functionalities that would interest us include, but are not limited to, the following:
  • Smart Customer Profile Report
  • Digital Twin
  • Smart Data Acquisition
  • Health & Wellness
  • Non-invasive Medical Tests
  • Insurance in a Box
  • Blockchain Networks for Insurance
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

Smart Customer Profile Report
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

Digital Twin
Smart 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

  • Data enrichment activity through third party providers with potential vendors and information collected by sales and service teams during interaction with customers

Smart Data Acquisition
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

Health & Wellness
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 epigenetics as an alternative source as medical profile

  • External database of health markers, medical condition, health scores

Non-invasive medical tests
Insurance in a Box
  • Build a white-label platform which can allow insurers to sell on-demand insurance on partner eco-system/underserved 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

Insurance in a Box
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

Blockchain Networks for Insurance

Program Format

The last date of submitting the application is 16th January 2021. However, the evaluation will take place on rolling basis, as and when the applications come.

Applicants to the accelerator program will follow the steps as explained below:

Program Design
01

Application

Candidates can apply on accelerator website for the selection process till the stated end date for application submission. Additional details as needed may be sought from applicants after submitting the application

02

Demo Day

Sequence of demo days will be organized where shortlisted applicants will be called in batches to pitch / showcase their product or solution

03

Final Selection & On-boarding

Successful applicants will be notified of their selection in the accelerator program and a formal on-boarding process will begin, involving signing of documents, solution roadmap planning, familiarisation & knowledge workshops, assessment of support needed, etc.

Benefits for Participants

What is in it for you?
Participants in the accelerator program will get the following set of benefits:

Best-in-class Mentoring

Industry expertise and dedicated bandwidth of Max Life Insurance CXOs.

Experts from across the connected ecosystems, such as banks, technology firms, venture capital, other successful start-up founders, etc.

Technology Infrastructure

Resources like APIs, cloud service, free cloud credits, etc.

Dedicated Innovation Space

Workspace at our partner premises in tier-1 cities

Exclusive Data

Access to relevant data from our databases as needed to enable you to test your product / solution.

Dedicated Support

A single point of contact with the organization to mitigate any issue and ensure speedy implementation of your ideas.

Get noticed in the Media

Promoting you on our website, social media channels, print & electronic media partners, etc.

Our Commitment

Most importantly, you get our commitment that if your innovation can transform our business, we will be your first customer/strategic partner to enable you to grow further.

Success Stories

Kwantics

Enriches the customer experience analytics using niche technologies of speech analytics, ML and NLP.

Explore
Eigenlytics

B2B data solutions company that brings in cutting-edge data science capabilities.

Explore
Artivatic

Provides a data intelligent platform to fast-track onboarding, underwriting, risk analysis and customer profiling

Explore
Vidzai

Creates dynamic, personalized and interactive videos for better customer experience and conversion

Explore
Assess Hub

Online skill assessment platform to assess relevant skills and predict talent performance

Explore
Nvest Solutions

Nvest Solutions provides API based applications to improve the insurance through digital solutions

Explore
Wellthy Therapeutics

Digital therapeutics company to transform chronic disease management using technology

Explore

Our Partners

Our contributors and the people who are supporting us

Supporting in wider integration with the ecosystem Supporting in wider integration with the ecosystem
Supporting in wider integration with the ecosystem Supporting in wider integration with the ecosystem
Facilitating ecosystem connect and extending cloud credits, Facilitating ecosystem connect and extending cloud credits, business support and technology mentorship to startups
Early-stage Venture Capital fund for DeepTech & Enterprise Startups. Early-stage Venture Capital fund for DeepTech & Enterprise Startups.

Manu Lavyana

Director & Chief Operations Officer | Max Life Insurance

Suhail Ghai

Executive Vice President & Head - Information Technology | Max Life Insurance

Amrit Singh

Executive Vice President- Business Strategy | Max Life Insurance

Sharad Mahamia

Senior Vice President - Underwriting Claims & Reinsurance Admin | Max Life Insurance

Aalok Bhan

Director & Chief Marketing Officer | Max Life Insurance

Manish Sachdeva

Senior Vice President - Head Digital Solutions | Max Life Insurance

Sachin Saxena

Executive Vice President & Chief Risk Officer | Max Life Insurance

V Viswanand

Deputy Managing Director | Max Life Insurance

Sanjay Thawakar

Corporate Vice President – Analytics & AI Works | Max Life Insurance

Tarun Bahri

Senior Vice President - Operations | Max Life Insurance

Girish Shivani

Executive Director and Fund Manager | YourNest VC

Shwetank Verma

Co-Founder of Leo Capital

Have questions about the program?

Clear all your queries and doubts regarding the program and its participation

What is eligibility criteria to apply?

The applicant must have a Minimum Viable Product (MVP) proposition, broadly aligned with the use cases shared under Program Focus Areas.

Is there an application fee for the accelerator program?

No, the application is free of charge.

What is the evaluation criteria?

Applications will be examined based on:

i. Relevance and Design of the proposed solution

ii. Technical and Managerial competence of the team

iii. Any other parameter that the accelerator program sees fit

What will be the deadline for application to the accelerator program?

The last date for submission of application is 16th January 2021. However, the evaluation will take place on rolling basis, as and when the applications come. Hence, potential applicants are encouraged to submit applications to the accelerator as early as possible.

Testimonials

What our start-up partners have to say about us

Max Life is truly determined to transform the life insurance industry. They are planned, thorough and they are always thinking of scale. They also treat you as part of the family and want you to succeed. IDfy is privileged to be part of their story, to work closely with their senior execs and solve real problems for them. I think it would be a great learning experience for any start-up to be part of their journey of transformation

Wriju Ray, Chief Business Officer, IDfy

Max Life is an innovative organization with a desire to stay ahead of the curve. Their ability to embrace change and disruption is rare to see in a large organization. We have had a great experience throughout our engagement with them. We thank the business team for their support and hope to continue the partnership into the future.

Varzavand Batliwala, Co-founder and COO, i3systems

Max Life’s commitment towards customer satisfaction and their passion for innovation has helped the team at DocsApp, in developing user-friendly out-of-the-box ideas to change the face of insurance processes in India. Their professionalism has strengthened the relationship between DocsApp and Max Life over the past 3 years. We look forward to our continued association.

Satish Kannan, Director and CEO, DocsApp

"The start-up incubator program by Max Life is a fantastic initiate. Being a bemouth in the fin-tech space, start-ups will gain a ton from Max Life plethora of experts and in-depth experience. It’s great to see Max Life taking the lead in helping mold disruptive start-ups of the future across big data, AI and fin-tech"

Prashant Puri, Co-Founder & CEO, AdLift

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The application window is closed.

We are currently evaluating all applications and will reach out to shortlisted applicants soon.