HDFC Life & IvyCamp Launch 'Futurance' Phase 5 to select and collaborate with innovative and disruptive startups

MUMBAI, India, Nov. 2, 2022 /PRNewswire/ — Futurance – the flagship company engagement program aimed toward figuring out startups that develop innovative and cutting-edge options – is the result of the continued partnership between HDFC Life, one in every of India’s main life insurance firms, and IvyCamp, an initiative of IvyCap Ventures Advisors Pvt. Ltd. This program has now entered its fifth part.

The final 4 phases have efficiently supplied alternatives for eleven startups to interact with HDFC Life’s management, collaborate with the business groups, increase their buyer base, and commercialise their merchandise. Startups from the fraud detection and metaverse area acquired chosen within the fourth part.

Phase 5 of the Futurance program, goals to scout for startups throughout the next use circumstances together with however not restricted to:

• Alternate & Augmented information: Data from alternate sources to validate buyer particulars, and advertising and marketing and improve the underwriting mannequin
• Medical/Health Tech: Remote well being testing for buyer on-boarding & underwriting
• Innovative Sales Tech: Sales tech options for lead era, buyer screening, and insurance distribution
• AI-based Vision & Voice options: AI-based smart-vision options to improve buyer expertise

Speaking on the launch of the fifth part Prasun Gajri – Chief Investment Officer, HDFC Life, stated, “At HDFC Life, we are constantly innovating in every area. We have an advanced sales stack, advanced capabilities using vision, voice and text AI via external partners and internal team capabilities and many other innovations that are part of our processes.”

“We are constantly looking to raise the bar and enhance our capabilities thereby offering value to all stakeholders. The aim is to simplify life insurance, end-to-end for our prospective and existing customers, employees as well as all our partners.”

“Futurance, a connect and outreach program for startups began in 2019, to build solutions to meet some of the industry’s challenges and encourage new thinking and innovation. The first four phases have witnessed over 450 applications. In the fifth phase we look forward to collaborating with young minds and integrating fresh ideas and innovative tech that will enable us to offer value to all.”

Anju Gupta, Co-founder and President of IvyCamp stated, “Our long association with HDFC Life has been very unique and meaningful in adding value to HDFC Life’s business and internal innovation efforts through collaboration with high potential startups with disruptive solutions. The collaboration has also enabled the startups to scale and opened access to a larger customer base. Today, with the launch of Phase 5 of Futurance, we are excited to continue this partnership to create growth and value through the startup ecosystem, and continue adding value for HDFC Life.”

mFilterIt and GMetriXR acquired chosen because the winners of Phase 4 and these two firms will work with HDFC Life. Two startups TouchlessID and Perkant Tech who additionally participated within the remaining spherical acquired a particular point out from group HDFC Life.

• mFilterIt: Pioneers in Ad Fraud Detection options, Business Intelligence, Brand Safety.
• GMetriXR: a no-code XR platform to create coaching modules, on-line shops, product showcases, immersive excursions and extra.

About HDFC Life

HDFC Life Insurance Company Limited (‘HDFC Life’ / ‘Company’) is a three way partnership between HDFC Ltd., India’s main housing finance establishment and abrdn (Mauritius Holdings) 2006 Limited, a world funding firm.

Established in 2000, HDFC Life is a number one, listed, long-term life insurance options supplier in India, providing a variety of particular person and group insurance options that meet varied buyer wants similar to Protection, Pension, Savings, Investment, Annuity and Health. As on September 30, 2022, the Company has over 60 merchandise (particular person and group merchandise) in its portfolio, alongside with non-obligatory rider advantages, catering to a various vary of buyer wants.

HDFC Life continues to profit from its elevated presence throughout the nation having a large attain with branches and further distribution touch-points by means of a number of new tie-ups and partnerships. The depend of our distribution partnerships is over 300, comprising banks, NBFCs, MFIs, SFBs, brokers, new ecosystem companions amongst others. The Company has a robust base of monetary consultants.

For extra data, please go to  www.hdfclife.com. You can also join with us on Facebook, Twitter, YouTube and LinkedIn.

About IvyCamp

IvyCamp is an initiative of IvyCap Ventures, an early-stage Venture Capital agency that nurtures entrepreneurs and their concepts into sustainable companies, leveraging our Global Alumni Ecosystem.

IvyCamp is an Alumni Driven Startup Engagement Platform that connects entrepreneurs with mentors, buyers, accelerators and corporates, to assist the founders, develop, scale, and join. The intensive engagement and collaborations amongst varied stakeholders, due to this fact, drive a continuing circulation of dynamic concepts, main to true change and lasting influence. IvyCamp creates corporate-startup engagements focused to assist each the company combine business-relevant innovative concepts into their workflows, and the founders to scale.

The platform has greater than 6,000 startups and we create engagements between entrepreneurs, area consultants, buyers, accelerators, and corporates. These collaborations drive a continuing circulation of dynamic concepts, main to true change and lasting influence.

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