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Mantra Labs one of the top InsurTechs in India (2021)

A positive kick-start to 2021! Mantra Labs has been listed as one of the top Insurtechs in India to look out for. This list compiled by Daily Finance comprises the most innovative tech-startups and established companies transforming the Insurance ecosystem through innovative products and solutions. The standout businesses are recognized for taking a variety of approaches to innovating the InsurTech industry. They are selected by a panel of analysts and industry stalwarts basis the following criteria- 

  • Innovation
    • Innovative ideas
    • The innovative route to market
    • Innovative product
  • Growth
    • Exceptional growth
    • Exceptional growth strategy
  • Management
  • Societal impact

According to Grand View Research, “The global insurtech market size was valued at USD 2.72 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 48.8% from 2021 to 2028.” COVID-19 has pushed all claims organizations alike into the touchless reality of today. Digital is no longer the difference-maker; personalization is. Greater customer expectations, followed by cost optimization, is the main driver behind the insurer evolution process. To meet these critical changes, Insurers are turning to AI to drive the Interactions of Tomorrow. By 2024, AI will bring $2.3 billion in cost savings across the entire Insurance ecosystem, up from $340 million in 2020. 

Here’s the Mantra’s latest PoV highlighting the New Next for AI in Insurance in 2021

How Mantra Labs is transforming the Insurance Landscape

Handpicked among the top 100 most innovative Insurtechs in the World, Mantra Labs has worked with leading insurance carriers within APAC helping them build World-class customer experiences and improve operational efficiencies. Through its problem-solving approach, Mantra deep-dives into the client’s business process and nails down their unique challenges.

During the initial stages of lockdown, Care Health Insurance (formerly Religare) joined forces with Mantra to implement contactless customer centers in quick turnaround time, ensuring business continuity despite work-from-home-only restrictions for their support teams. Mantra has also built its ‘Self-Help’ app—which is India’s highest-rated health insurance app—that has simplified the digital insurance journey for its customers who look to book health check-ups, discover partner hospitals, download health reports and avail QR code-enabled cashless OPD services. 

The Highest Rated Health Insurance App in India – The story behind it

SBI General Insurance, a leading non-life Insurer in India, sought out a full-service mobility solution to improve insurance accessibility pan-India, specifically catered for mobile-centric policyholders. Mantra utilized its deep insurance industry know-how to deliver a hybrid mobile application and helped define unique strategies for building customer engagement.

Customer Experience Design & Engagement Strategies for Insurer Mobile App

Mantra offers three core products for solving the most pressing challenges faced by InsurTechs around — claims processing, workflow management, process automation, onboarding, leads maximization, customer experience & engagement. Mantra Labs’ solution offerings for the Insurance industry include –

FlowMagic

FlowMagic is a visual AI platform for handling Insurer workflows. With FlowMagic insurers can create, customize and monitor workflows built to scale across the Insurance value chain. It comprises AI-powered applications that can be strung together with unique plug and play functionality to execute any business-specific process.

Lead Conversion Accelerator (LCA)

LCA is an AI-enabled tool that allows Insurers to maximize capture from the sales funnel for AI-based lead allocation, prioritization, and conversion.

Hitee

Hitee is a Multilingual AI-Powered Video chatbot for customer support teams that allows Insurers to fulfill routine and non-routine service tasks via Natural Language Processing (NLP) and Machine Learning (ML) models trained in insurance-specific parlance.

“At Mantra Labs, we believe in creating Intelligent Experiences by leveraging technology and design to solve real-world consumer problems that allow our clients to adapt, scale and grow quickly,” says Mikhail Mitra, Co-founder & Chief Product Officer, Mantra Labs. “We are proud to be recognised as a leader in this space.”

About Mantra Labs

Mantra Labs is a global technology development company that builds & designs World-class customer-first products through experience strategy consulting, deep tech & engineering services for evolving enterprises.

With a team of 200+ technology tinkerers and experimenters, Mantra Labs is building the Future of Intelligent Experiences for consumer enterprise giants like Ola, Myntra, Quikr & Alkem. Mantra Labs also solves the most pressing front & back-office challenges for leading enterprises in Insurance, Manufacturing, and Healthcare sectors like Manipal Hospitals, Suraksha Diagnostics, Alkem Pharmaceuticals, SBI General, Care Health, DCM Shriram, Globalise Inc, AIA Hong Kong & Pramerica among others.

The article can be found here: https://df.media/these-are-the-top-insurtech-companies-in-india-2021/ 

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The Pet Tech Boom You Can’t Ignore: How Smart Devices Are Revolutionizing Pet Care

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What’s your first thought when you see a puppy strutting around in a tiny sweater or hear about luxury pet spas? Maybe, “That’s adorable!” or “Why don’t I have that life?” And let’s be honest—some pets have social media accounts with better engagement than most of us. Beyond the cuteness, these trends signal a deeper shift. The global pet care market is booming, with India’s pet Industry alone hitting $3.20 billion. It’s the age of pet tech, Today, pets are family—sharing our homes, routines, and emotional lives. 

It’s not just technology for convenience’s sake, these innovations address real pain points. By solving pet-owner concerns, pet tech transforms pet care into a proactive, data-driven, and deeply connected experience.

Innovations Driving the Pet Tech Revolution

Here’s how technology is reshaping the industry:

  1. AI-Powered Insights
    AI doesn’t just automate, it learns. Devices now recognize pet behavioral patterns of the pets to make personalized recommendations, whether it’s switching a pet’s diet or alerting owners to early signs of illness. 
  2. Wearable Tech
    These aren’t just GPS trackers; they’re fitness and health monitors for pets. From tracking activity levels to monitoring heart rates, wearable technology for pets is becoming an essential tool for modern pet parents. For instance, a dog recovering from surgery can wear a tracker to alert you if they’re too active, preventing injury.
  3. Smart Devices
    Automating routine tasks like feeding, watering, and waste management frees up time while ensuring your pet’s basic needs are met. Think smart pet feeders that portion meals based on your pet’s diet plan or self-cleaning litter boxes that operate automatically after every use.
  4. Telemedicine Platforms
    Virtual vet consultations are game-changers, especially in urban areas where time and traffic are challenges. Imagine spotting unusual behavior in your cat and connecting with a veterinarian online instantly through video for advice.
  5. Interactive Gadgets
    Smart pet toys and cameras aren’t just fun—they address pet anxiety, loneliness, and boredom. Treat-dispensing cameras let you check in on your dog and reward them with a snack while you’re away.

Startups: The Powerhouses of Pet Tech Innovation

Pet tech’s meteoric rise is fueled by ingenious startups redefining what’s possible:

  • Pet Wireless: Tailio, their health monitoring platform, combines non-wearable sensing devices, cloud-based analytics, and a mobile app. It empowers pet owners with insights and helps vets deliver superior care.
  • Dinbeat: This startup specializes in wearable tech for pets, offering devices that remotely monitor vital signs. Alerts via a mobile app ensure timely intervention.
  • Obe: By harnessing real-time consumption data, Obe’s digital wellness platform allows pet owners to make informed health and nutrition decisions. Early diagnosis capabilities are a game-changer.
  • Scollar: Their full-stack platform integrates a modular smart collar, mobile app, and cloud data service. Scollar offers comprehensive solutions for managing pet and livestock health.
  • Mella Pet Care: Known for its AI-assisted, non-rectal thermometer, Mella provides fast and non-invasive temperature readings. Its seamless integration with apps and patient management systems enhances diagnostics.

Globally, the pet tech industry is riding a wave of growth, driven by innovation and shifting consumer behaviors: Market reports predict continued expansion, highlighting the rise in demand for smart pet care solutions and personalized offerings.

Conclusion: A Revolution in the Making

Pet care technology is transforming, blending tradition with technology to create a seamless and smarter experience. As brick-and-mortar pet stores evolve with online conveniences like home delivery and smart pet toys become everyday essentials, the possibilities of pet tech are redefining what it means to care for our furry companions. Advanced analytics now tailor diets, grooming, and preventive care, ensuring our pets get the attention they deserve.

Yet, amidst all the innovation, the essence of pet care remains rooted in love, connection, and trust. While gadgets can simplify tasks, they can never replace the joy of a wagging tail, the warmth of a purr, or the bond that comes from shared moments. As we embrace this technological revolution in pet care, we must also prioritize ethical innovation—where privacy, security, and empathy lead the way.

At Mantra Labs, we are committed to building solutions that empower pet parents without compromising the human-animal bond.

The pet tech revolution isn’t just about innovation—it’s about elevating how we care for our pets, ensuring they live happier, healthier, and more connected lives. Whether you’re a pet parent, an industry leader, or simply curious about the future, one thing is clear: our pets aren’t just part of our lives; they’re part of our hearts. And with technology, we can give them the care they truly deserve.

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