August 4, 2020
First prize awarded to ‘Team Mavericks’ for developing a risk modeling technique using machine learning, predictive analysis, artificial intelligence.
New Delhi, India and Hartford, CT, USA – August 04, 2020: 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, today 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 – July 26, 2020.
The theme for this year’s 30Hacks, ‘Insurtech in 2020: Commercial Property & Casualty’ emphasized 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. Listed below, the Top 3 winners of the ‘30Hacks’ hackathon received cash prizes worth USD 7,000.
- 1st prize: Team Mavericks (Subodh Pandey, Tushar Jain, Rupesh Gupta, Swati Gupta) for developing an AI underwriting assistant ‘helpbot’ that can make risk approval/rejection decisions based on underwriting guidelines without human intervention.
- 2nd prize: Team Code Commando (Anurag Joshi and Rutuja Deo) 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.
- 3rd prize: Team RegTechies (Mukul Sharma, Anurag Khurana, Md Wasif, Avinash Singh) for an AI-and ML-based solution to simplify the adoption of complex regulatory changes.
Additionally, the teams below were declared as the ‘Top 3 Innovators’, having received the highest scores in the ‘Innovation’ criteria.
- Team ARTIFUTECH (Rahul Kumar and Gunjan Arora) for coding a fully-automated straight-through processing platform that uses AI, AR and ML to analyze 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 behavior.
- Team CG_SIZZLERS (Ramkumar RN and Vinay Sheel) for devising a chatbot-assisted customer engagement solution.
“Our partnership with Insurity to organize 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 Sumit Sood, Senior Vice President and Head of APAC, GlobalLogic. “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. I would like to congratulate all our winners and wish the teams good luck in their future.”
“Insurance digital transformation is achieved through collaboration of systems, data, and—of course—people,” said Talin Bingham, Chief Technology Officer at Insurity. “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. We congratulate the winners and look forward to working with them to shape the future of the industry.”
30Hacks 2020, which began taking registrations in June received over 5800 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 from July 25-26.
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.
GlobalLogic has been at the forefront of promoting initiatives that lead to building collective capabilities, intelligence sharing, tapping new talent and an innovation ecosystem. Over the past 6 years, GlobalLogic has been organizing hackathons across many diverse industries to leverage tomorrow’s technologies in augmenting today’s business solutions.
GlobalLogic is a leader in digital product engineering. We help our clients design and build innovative products, platforms, and digital experiences for the modern world. By integrating strategic design, complex engineering, and vertical industry expertise—we help our clients imagine what’s possible and accelerate their transition into tomorrow’s digital businesses. Headquartered in Silicon Valley, GlobalLogic operates design studios and engineering centers around the world, extending our deep expertise to customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. www.globallogic.com
Insurity is a leading provider of cloud-based core system solutions and data analytics for the world’s largest insurers, brokers, and MGAs. Through its best-in-class digital platform and with unrivaled industry experience and thought leadership, Insurity is uniquely positioned to deliver exceptional value, empowering clients to focus on their core businesses, optimize their operations, and provide superior customer experiences. With users worldwide and more cloud-based deployments than any other core system provider in the insurtech space, Insurity is trusted by 15 of the top 25 property/casualty carriers in the US. For more information, visit www.insurity.com.
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Ruchi Mahna Chowdhury
Director- Marketing Communications
FusionPR on behalf of Insurity