Research Innovation Growth

TATA AIG

TATA AIG

TATA AIG in collaboration with CL Educate Ltd. and Drstikona worked on "Implementable Solution Recommendations for the Automobile Insurance Sector in India". The Indian Vehicle Insurance Industry is being challenged by the emerging trends to rethink about the avenues of business expansion through the implementation of innovative strategies, initiatives, and technologies. The use of customer feedback and incremental inputs are causing the disruptions and moving major keystones for transformation. Undergraduate students from across three institutions in India gave their ideas on implementable solutions for the Automobile Insurance sector. 150+ students participated from top institutes and 10 solutions were generated from 3 institutions. The solutions were recommended after taking into account the market research study that was conducted to a research study that was conducted to understand the perception of a number of insurees and potential customers; who were interviewed in order to gain insights into the implementation of innovation initiatives adopted by TATA AIG.

150+ Students | Top 10 Implementable Solutions

List of solutions:

S. No. Institution Solution Title
1 IFIM Gamification of Usage Based Insurance (UBI) for Increased User Engagement
2 VVCE IoT Sensor based Detection of Fraud - Accidents & Injuries
3 VVCE Usage of Black Boxes in Automobiles for Determining Accident History
4 VVCE UBI based Risk Evaluation of Drivers
5 MRIU Road Condition Monitoring System
6 MRIU IoT Sensor based Detection of Fraud-Theft
7 MRIU Usage of Text Analytics to Detect Automobile Insurance Fraud
8 VVCE Trip based Vehicle Insurance
9 VVCE System for Destination based Underwriting of Automobile Insurance
10 IFIM Usage of Voice Assistants to promote Usage based Insurance Services