International Financial Services Centres Authority (IFSCA) has declared Signzy as one of the winners of ‘Sprint03:InsureTech’, its InsureTech Hackathon under I-Sprint’21, the global FinTech Hackathon. The Sprint03:InsureTech Hackathon was open to all eligible FinTech companies around the world and was one-of-its-kind, being backed by a financial sector regulator.
Signzy was named as winner for ‘development of technologies for increasing penetration, better underwriting, or claims management of life or health products’. All winners will be allowed a direct entry into the applicable IFSCA Regulatory or Innovation Sandbox. They will further receive Regulatory guidance and handholding. After a successful exit from the respective Sandbox, they will get an opportunity to set up business at GIFT IFSC.
Commenting on the win, Ankit Ratan, co-founder of Signzy said, “ Winning this global Hackathon has further burnished Signzy’s credentials for world-class innovation in the insuretech and fintech space. Going forward, we are equally excited to participate in the IFSCA Regulatory/Innovation Sandbox, as we look forward to new opportunities to make a meaningful difference to the growth and evolution of the global finTech industry.”
The ‘Sprint03:InsureTech’ under the banner of I-Sprint’21 was hosted by IFSCA and GIFT city in collaboration with FICCI. ICICI Lombard, Max Life, iCreate, India Insure-Tech Association and Invest-India were the partners to the Hackathon.
I-Sprint’21, the global FinTech Hackathon was launched as part of InFinity Forum 2021, IFSCA’s flagship financial technology event, which unites the world’s leading minds in policy, business, and technology to explore and advance the biggest ideas in FinTech, and to develop those ideas into global solutions and opportunities.
Signzy has won many awards in the recent past for its technology innovation, some of them being IAMAI’s Most Innovative Fintech Data Solution Provider Award, ASSOCHAM’s ICT Startup Awards, Techoviti Award 2020 for Video KYC, and many more. In the past, Signzy has also won awards from regulatory bodies like RBI and MAS Singapore.