Press Release – First Hackathon – Bima Manthan 2022

IRDAI has issued a Press Release dated August 14, 2022 on First Hackathon – Bima Manthan 2022.

Highlights of the Press Release are as follows:

• IRDAI is organizing its first hackathon – “Bima Manthan 2022” and invites participants to identify and develop solutions that have the potential to make the insurance available to every individual in a seamless and swift manner with the use of technology and protecting the interests of the policyholders
• Bima Manthan 2022 invites technology driven innovative ideas/solutions for the following problems in the Insurance ecosystem: Automated Death Claim settlement using technology Tech-based solution to curtail miss-selling of Insurance products Tech enabled solution to identify uninsured motor vehicles and ensure issuance of mandatory Motor-Third Party Insurance Technology based distribution of insurance products including micro insurance in difficult terrains and less penetrable areas Fraud mitigation/ prevention in motor insurance by using technology
• The participants of Bima Manthan 2022 will get an opportunity to exhibit their innovative solutions before an eminent jury and win exciting prizes. Bima Manthan 2022 also provides an opportunity for Winner for:
• direct entry into the IRDAI Regulatory Sandbox regime; or
• demo-day in front of Insurers/Intermediaries and other Stakeholders; or
• collaboration with Insurer(s) on the winning project/platform
• The rewards are as follows : Winner – Rs. 20 lakhs 1 st Runner Up – Rs. 15 lakhs 2 nd Runner Up – Rs. 10 lakhs
• Registration for hackathon have started from August 16, 2022 and more details about the event are available at https://hackolosseum.apixplatform.com/h1/bm2022

Source category: IRDAI

Attachments

• /2022/77_2022-08-14_Press_Release_-_First_Hackathon_-_Bima_Manthan_2022_(1).pdf
• /2022/77_2022-08-14_Press_Release_-_First_Hackathon_-_Bima_Manthan_2022_(2).pdf