Chennai, NFAPost: Team Mavericks, which consists of Subodh Pandey, Tushar Jain, Rupesh Gupta and Swati Gupta, has bagged First Prize for developing an AI underwriting assistant ‘helpbot’ that can make risk approval/rejection decisions based on underwriting guidelines without human intervention.
GlobalLogic, a leader in Digital Product Engineering, and Insurity, a leading provider of cloud-based core systems solutions and data analytics for the world’s largest insurers, brokers, and MGAs, have announced the winners of the 14th edition of the ‘30Hacks’ hackathon, a platform for talented coders to test their ideas and innovative technology-led solutions. The virtual hackathon took place from July 25-26, 2020.
While Team Code Commando (Anurag Joshi and Rutuja Deo) bagged second prize for their solution to conduct sentiment analysis based on customer feedback and social media activity, helping to ensure that pain points throughout the policy lifecycle are addressed on a timely basis, Team RegTechies (Mukul Sharma, Anurag Khurana, Md Wasif, Avinash Singh) bagged third prize for an AI-and ML-based solution to simplify the adoption of complex regulatory changes.
The theme for this year’s 30Hacks, ‘Insurtech in 2020: Commercial Property & Casualty’ emphasised the development of innovative and disruptive technology concepts that can help solve real-world business problems that the insurance industry faces today and will face in the future.
The Top 30 teams were evaluated against the criteria of design, innovation and advancement, business implication, solution approach and architecture. Apart from the three teams that bagged prizes, three teams were declared as the ‘Top 3 Innovators’, having received the highest scores in the ‘Innovation’ criteria.
The three teams are ARTIFUTECH (Rahul Kumar and Gunjan Arora) for coding a fully-automated straight-through processing platform that uses AI, AR and ML to analyse property damage in real-time, facilitating faster claims processing; Team The Unknowns (Arti Kumari and Sumit Rai) for creating learning models to calculate driver rebates based on driver behaviour; and Team CG_SIZZLERS (Ramkumar RN and Vinay Sheel) for devising a chatbot-assisted customer engagement solution.
“Our partnership with Insurity to organise 30Hacks is a testament for providing the aspiring coders the right platform to showcase their talents and bring out solutions that will bring a revolution in the InsurTech space,” said GlobalLogic Senior Vice President and Head of APAC Sumit Sood.
“We were extremely delighted with the quality of ideas and the expertise that was brought to table by the Top 30 teams and it was a very tough decision for our esteemed jury to come up with the unanimous decision,” he added.
“Insurance digital transformation is achieved through collaboration of systems, data, and people. We were thrilled to partner with GlobalLogic for this year’s 30Hacks, providing a platform for the best and brightest minds in India’s coding community to come together and deliver innovative technology concepts to address the challenges faced by the insurance industry today,” said Insurity Chief Technology Officer Talin Bingham.
30Hacks 2020, which began taking registrations in June, received over 5,800 registrations from coders across many multinational companies with diverse backgrounds and experiences. After multiple entry screenings, the Top 30 teams were shortlisted and took part in the final 30 hours of the coding marathon.
Judges of the Top 30 teams included: Robert Pick, CIO, Tokio Marine North America; Karen Furtado, Partner, Strategy Meets Action; Sunil Singh, CTO, GlobalLogic; Talin Bingham, CTO, Insurity; and Ivan Latanision, EVP, Product Management, Insurity. The event concluded with a message from Nitesh Bangal, COO, GlobalLogic and Chris Lafond, CEO, Insurity, among other senior leaders from the two companies.
Over the past 6 years, GlobalLogic has been organising hackathons across many diverse industries to leverage tomorrow’s technologies in augmenting today’s business solutions.