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I-Sprint’21 and InFinity Forum 2021- Relevance for UPSC Exam
- GS Paper 3:
- Indian Economy- Issues relating to planning, mobilization of resources, growth, development and employment.
- Science and Technology- indigenization of technology and developing new technology.
I-Sprint’21 and InFinity Forum 2021 in news
- Recently, International Financial Services Centres Authority (IFSCA) announced the winners of Hackathon “Sprint03: InsureTech” under I-Sprint’21 which is a part of InFinity Forum 2021.
About I-Sprint’21 and InFinity Forum 2021
- About I-Sprint’21: International Financial Services Centres Authority (IFSCA) launched I-Sprint’21, the global FinTech Hackathon as part of InFinity Forum 2021.
- Aim: Through -Sprint’21, the global FinTech Hackathon, IFSCA aims to support a World-Class FinTech Hub at GIFT IFSC.
- About InFinity Forum 2021: it is IFSCA’s flagship financial technology event, uniting the world’s leading minds in policy, business, and technology.
- Aim: It aims to explore and advance the biggest ideas in FinTech, and to develop those ideas into global solutions and opportunities.
“Sprint03: InsureTech” Global Fintech Hackathon
- About: “Sprint03: InsureTech” under the banner of I-Sprint’21 was launched with a focus on the Insurance Sector.
- Organizations involved: It was hosted by IFSCA and GIFT city in collaboration with FICCI.
- The Partners to the Hackathon were ICICI Lombard, Max Life, iCreate, India Insure-Tech Association and Invest-India.
- Eligibility: This Hackathon was open to all eligible FinTechs from across the globe and was one of its kind being backed by a financial sector Regulator.
- Benefits:
- The winners of the “Sprint03: InsureTech” Global Fintech Hackathon will be allowed direct entry into the applicable IFSCA Regulatory/Innovation Sandbox.
- They will receive Regulatory guidance and handholding.
- After successful exit from the respective Sandbox, they shall get an opportunity to set up business at GIFT IFSC.
Winners of the “Sprint03: InsureTech” Global Fintech Hackathon
|
Name of the Entity | Problem Statement Applied for: | |
i | UMBO IDTech Private Limited (Riskcovry InsureTech) | Development of technologies for increasing penetration, better underwriting, claims management of life/health products | |
ii | Livwell Asia (Singapore) | Digital Innovation for Global Health Insurance Cover | |
iii | GOQii Technologies Private Limited | Digital Innovation for Global Health Insurance Cover | |
iv | Onsurity Technologies Pvt Ltd | Development of technologies for increasing penetration, better underwriting, claims management of life/health products | |
v | ZignSec AB (Sweden) | Development of technologies for increasing penetration, better underwriting, claims management of life/health products | |
vi | Signzy Technologies Pvt Ltd | Development of technologies for increasing penetration, better underwriting, claims management of life/health products |