Try : Insurtech, Application Development

AgriTech(1)

Augmented Reality(20)

Clean Tech(8)

Customer Journey(17)

Design(44)

Solar Industry(8)

User Experience(67)

Edtech(10)

Events(34)

HR Tech(3)

Interviews(10)

Life@mantra(11)

Logistics(5)

Strategy(18)

Testing(9)

Android(48)

Backend(32)

Dev Ops(11)

Enterprise Solution(29)

Technology Modernization(7)

Frontend(29)

iOS(43)

Javascript(15)

AI in Insurance(38)

Insurtech(66)

Product Innovation(57)

Solutions(22)

E-health(12)

HealthTech(24)

mHealth(5)

Telehealth Care(4)

Telemedicine(5)

Artificial Intelligence(146)

Bitcoin(8)

Blockchain(19)

Cognitive Computing(7)

Computer Vision(8)

Data Science(20)

FinTech(51)

Banking(7)

Intelligent Automation(27)

Machine Learning(47)

Natural Language Processing(14)

expand Menu Filters

6 InsurTech Companies in India Featured in the Prestigious InsurTech100

3 minutes, 36 seconds read

Indian technology companies are leading InsurTech innovations and 6 firms have successfully secured a spot in the InsurTech100. FinTech Global’s InsurTech100 is an annual list of tech-startups- transforming the digital insurance landscape through innovative products and solutions. These top 100 InsurTechs are recognized by a panel of analysts and industry stalwarts from an exhaustive list of over 1000 technology firms, who are solving the most-pressing insurance challenges. Here are the InsurTech Companies in India who are pioneering the Global InsurTech revolution.

Acko

Acko is India’s first fully-digital general insurance company. Founded in 2017, it provides personalized pricing to customers through deep-data analytics. It studies customers’ interaction patterns and behaviours and accordingly suggests insurance products. 

Currently, Acko has insured over 40 million Indians, acquiring 8% of the car insurance policies bought online in India. It also introduced Ola Ride Insurance for lost baggage, laptops, missed flights, accidental medical expenses, and ambulance transportation cover. 

Artivatic

Artivatic provides an insurance SaaS platform to automate buyer onboarding, profiling, underwriting, and claims administration. Their solutions leverage cutting-edge technologies like NLP, ML, Deep Learning, Behavior Analysis, AI, and IoT.

Currently, the company is working with 16 clients which include Deloitte, KPMC, HCL, and Cynopia, among others.

Mantra Labs

Mantra Labs is an AI-first product & solutions firm solving the most pressing front & back-office challenges faced by Insurance carriers. Their product portfolio includes — FlowMagic, a visual-AI platform for insurer workflows; an AI-enabled chatbot for insurance; and an AI-driven lead conversion accelerator that maximizes opportunities from the sales funnel.

One of the oldest InsurTech companies in India, Mantra Labs has worked with leading insurers like Religare, DHFL Pramerica, Aditya Birla Health, and AIA Hongkong along with unicorn Internet startups like Ola, Myntra and Quikr. Mantra Labs also has strategic technology partnerships with MongoDB, IBM Watson, and Nvidia.

Pentation Analytics

Pentation Analytics provides state-of-the-art analytics applications targeting core insurance use cases. The company has introduced ‘Insurance Analytics Suite®’ which addresses retention/persistence, cross-sell, acquisition, and underwriting through advanced machine learning models. The product is adaptable to both cloud and on-premise applications. 

Pentation Analytics is partners with international technology companies like Hewlett Packard Enterprise, HortonWorks, Hitachi, among others.

PolicyBazaar

PolicyBazaar is India’s largest insurance marketplace. It allows users to view and compare different insurance policies online based on their preferences. Users can also buy, sell, and store policies online. The platform provides an end-to-end solution to track policies and claims assistance. The company hosts over 100 million visitors annually and records nearly 1,000,000 sales transactions/month. Currently, PolicyBazaar accounts for nearly 32% of India’s life cover & retail health business collectively. 

The company has support from an array of meticulous investors like SoftBank, InfoEdge (Naukri.com), Temasek, Tiger Global Management, True North, and Premji Invest. 

Toffee Insurance

Toffee Insurance is a new-age contextual microinsurance products firm. It’s customer-centric products deconstruct traditional underwriting and pack relevant policies according to individual requirements. The company is distributing plans through different channels like APIs, mobile, and SMS transactions. Their current portfolio includes cycle insurance, income protection insurance, daily commute insurance, and dengue insurance catering to individuals with monthly income less than USD 300. 

The company has succeeded in issuing policies to 115K+ Indians, of which 80% are first-time buyers. Currently, Toffee Insurance is partners with Hero Cycles, Wildcraft, Eko, and Apollo Hospitals and is backed by ICICI Prudential, Religare, HDFC Ergo, and Tata AIG Insurance among many others.

Changing market dynamics has brought a radical shift within the insurance industry. AI-driven technologies are making subtle changes to the way millennials and younger generations are thinking about Insurance as an immediate need. Insurtech is well poised above all else, to satisfy even the most unique coverage needs, removing traditional challenges like ownership from the mix.

With the growing popularity of digital channels, customers prefer self-service portals for quick access and instant solutions for their ever-changing financial and protection needs. Also, customers are now more aware of the potential threats than ever before and expect relevant products from insurers. “25% of business customers and fewer than 15% of retail policyholders believe they are covered comprehensively against emerging risks”(according to the World InsurTech Report 2019); indicating a rising need for consumer-centric and innovative insurance solutions to meet the new demand.

[Related: 10 Takeaways from the World InsurTech Report 2019]

In the year 2018, the InsurTech100 was secured by 7 InsurTech companies in India — Acko, Arvi, CoverFox, GramCover, PolicyBazaar, PolicyX, and Toffee Insurance as innovative InsurTechs.

Cancel

Knowledge thats worth delivered in your inbox

Conversational UI in Healthcare: Enhancing Patient Interaction with Chatbots

As healthcare becomes more patient-centric, the demand for efficient and personalized care continues to grow. One of the key technologies that have gained traction in this domain is Conversational UI (CUI) — a user interface where interactions occur through natural language, often with the help of chatbots. For developers, building a robust CUI in healthcare requires a balance of technical proficiency, understanding of the healthcare landscape, and empathy toward patient needs. Let’s explore how CUI can improve patient interactions through chatbots and what developers should consider during implementation.

Why Conversational UI is Gaining Popularity in Healthcare

From scheduling appointments to answering medical queries, healthcare chatbots have become vital tools for enhancing patient engagement and streamlining healthcare workflows. Conversational UIs enable these chatbots to interact with patients naturally, making them accessible even to non-tech-savvy users. By incorporating AI and NLP (Natural Language Processing), chatbots can now simulate human-like conversations, ensuring patients receive timely, relevant responses. 

Image credit: https://www.analytixlabs.co.in/blog/ai-chatbots-in-healthcare/ 

Key Areas Where Chatbots Are Revolutionizing Healthcare

  1. Appointment Scheduling and Reminders – Chatbots can automatically schedule appointments based on patient availability and send reminders before the visit, reducing no-show rates. For developers, this feature requires integration with hospital management systems (HMS) and calendar APIs. The challenge lies in ensuring secure and real-time data transfer while adhering to healthcare compliance standards like HIPAA.
  1. Medical Query Resolution– Chatbots equipped with NLP can answer common patient questions related to symptoms, medications, and treatment plans. This reduces the burden on healthcare providers, allowing them to focus on more critical tasks. Developers working on this feature need to consider integrating medical databases, such as SNOMED CT or ICD-10, for accurate and up-to-date information.
  1. Patient Monitoring and Follow-ups – Post-discharge, chatbots can monitor a patient’s condition by regularly asking for health updates (e.g., vital signs or medication adherence). Developers can integrate IoT devices, such as wearable health monitors, with chatbot platforms to collect real-time data, providing healthcare professionals with actionable insights.
  1. Mental Health Support – Chatbots have shown promise in offering mental health support by providing patients with an outlet to discuss their feelings and receive advice. Building these chatbots involves training them on therapeutic conversational frameworks like Cognitive Behavioral Therapy (CBT), ensuring they offer relevant advice while recognizing when a human intervention is required.

Key Considerations for Developers

1. Natural Language Processing (NLP) and AI Training

NLP plays a pivotal role in enabling chatbots to understand and process patient queries effectively. Developers must focus on the following:

Training Data: Start by gathering extensive datasets that include real-life medical queries and patient conversations. This ensures that the chatbot can recognize various intents and respond appropriately.

Multi-language Support: Healthcare is global, so building multi-lingual capabilities is critical. Using tools like Google’s BERT or Microsoft’s Turing-NLG models can help chatbots understand context in different languages.

Contextual Understanding: The chatbot must not just respond to individual queries but also maintain the context across the conversation. Developers can use contextual models that preserve the state of the conversation, ensuring personalized patient interactions.

2. Security and Compliance

Healthcare chatbots handle sensitive patient information, making security a top priority. Developers must ensure compliance with regulations such as HIPAA (Health Insurance Portability and Accountability Act) in the U.S. and GDPR (General Data Protection Regulation) in Europe. Key practices include:

  • Data Encryption: All communication between the chatbot and the server must be encrypted using protocols like TLS (Transport Layer Security).
  • Authentication Mechanisms: Implement two-factor authentication (2FA) to verify patient identity, especially for sensitive tasks like accessing medical records.
  • Anonymization: To avoid accidental data breaches, ensure that the chatbot anonymizes data where possible.

3. Seamless Integration with EHR Systems

For chatbots to be truly effective in healthcare, they must integrate seamlessly with Electronic Health Record (EHR) systems. This requires a deep understanding of healthcare APIs like FHIR (Fast Healthcare Interoperability Resources) or HL7. Developers should aim to:

  • Enable Real-time Updates: Ensure that chatbot interactions (e.g., new appointment schedules, and symptom checks) are instantly reflected in the patient’s EHR.
  • Avoid Data Silos: Ensure that all systems (EHR, chatbot, scheduling system) can communicate with each other, eliminating data silos that can lead to fragmented patient information.

4. Scalability and Performance Optimization

In healthcare, downtime can be critical. Developers need to ensure that chatbots are scalable and capable of handling thousands of patient interactions simultaneously. Using cloud-based platforms (AWS, Google Cloud) that offer auto-scaling capabilities can help. Additionally, performance optimization can be achieved by:

  • Caching Responses: Store frequently used responses (such as FAQs) in memory to speed up interaction times.
  • Load Balancing: Implement load balancers to distribute incoming queries across servers, ensuring no single server is overwhelmed.

Tools and Platforms for Building Healthcare Chatbots

Several tools and platforms can aid developers in building healthcare chatbots with conversational UIs:

  1. Dialogflow (Google): Offers pre-built healthcare intents and integrates with Google Cloud’s healthcare APIs.
  2. Microsoft Bot Framework: A scalable platform that integrates with Azure services and offers AI-driven insights.
  3. Rasa: An open-source NLP tool that provides flexibility in creating highly customized healthcare bots.

Conclusion

Conversational UI in healthcare is transforming patient care by offering real-time, scalable, and personalized interactions through chatbots. However, for developers, building these systems goes beyond programming chatbots — it involves understanding the unique challenges of healthcare, from regulatory compliance to seamless integration with hospital systems. By focusing on NLP capabilities, ensuring security and privacy, and integrating with existing healthcare infrastructure, developers can create chatbots that not only enhance patient interaction but also alleviate the burden on healthcare providers.

References

  1. NLP in Healthcare: Opportunities and Challenges
  2. HIPAA Compliance for Chatbots

About the Author:

Shristi is a creative professional with a passion for visual storytelling. She recently transitioned from the world of video and motion graphics to the exciting field of product design at Mantra Labs. When she’s not designing, she enjoys watching movies, traveling, and sharing her experiences through vlogs.

Cancel

Knowledge thats worth delivered in your inbox

Loading More Posts ...
Go Top
ml floating chatbot