HDFC Life partners with IvyCamp to launch Futurance, a programme for startups
Life insurance solutions provider, HDFC Life Insurance Company Limited on Wednesday announced a strategic partnership with IvyCamp, an arm of IvyCap Ventures Advisors Pvt. Ltd. to launch “Futurance”, a programme to identify and work with startups that have built cutting edge products which could harness business opportunities in insurance value chain.
HDFC Life is looking for startups working in areas of Artificial Intelligence/Machine Learning (AI/ML), Blockchain, Data Sciences, Augmented Reality/ Virtual reality (AR/VR), Internet of Things (IOT), Robotic Process Application (RPA), and computational linguistics among others.
Chief Investment Officer, Prasun Gajri, HDFC Life said,
"In order to further enhance our technology leadership in the sector, we are now looking to work with the start up ecosystem to solve some of our business problems.”
The HDFC Life Futurance programme, now live on IvyCamp website, is scouting for startups working in emerging technologies. The selected startups, through the programme, could also gain access to investment opportunities from HDFC Life and IvyCamp network.
Anju Gupta, Co-founder and President of IvyCamp said,
“Our partnership with HDFC Life aims to create a platform where startups come together to further accelerate tech innovation and address critical pain-points of businesses. The programme also aims to encourage entrepreneurship in India and make it more attractive for the youth to create a substantially large number of jobs every year.”
As part of this programme, startups will get an opportunity to connect with HDFC Life’s leadership, collaborate with the business teams and commercialize their products.
IvyCamp will also leverage its global alumni network of 10,000 entrepreneurs, technologists, mentors, investors, corporate partners and accelerators to support startups in this program.
“The startup ecosystem has good talent and an approach of innovative thinking. HDFC Life Futurance initiative is a logical win-win step in that direction," Chief Operating Officer, Parvez Mulla, added.