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IRDAI organises hackathon 'Bima Manthan-2022'

Published on August 16, 2022
Current Context: IRDAI organizes the hackathon 'Bima Manthan-2022', and invites innovative solutions for the insurance sector.
IRDAI organises hackathon 'Bima Manthan-2022'
  • Insurance Regulatory and Development Authority of India (IRDAI) invited entities to develop technology-driven innovative solutions for automated death claim settlement, curtail miss-selling, and other areas in the insurance sector.
  • The application for the innovative solutions has been invited as part of IRDAIs first hackathon- Bima Manthan 2022 with the theme 'Innovation in Insurance'.
  • IRDAI is looking for technology-enabled solutions for identifying uninsured motor vehicles and ensuring the issuance of mandatory third-party insurance and technology-based distribution of insurance products including micro insurance in less penetrable areas.
  • Another area identified for Bima Manthan 2022 is fraud mitigation/prevention in motor insurance using technology. The participants in the hackathon will get a chance to exhibit their innovative solutions before an eminent jury and will receive exciting prizes.
  • The winners of the hackathon will get an opportunity for direct entry into the IRDAI Regulatory Sandbox regime.
  • Static Knowledge:
    • IRDAI Chairperson - Debasish Panda
    • IRDAI headquarters - Hyderabad
    • IRDAI was formed - in 1999

Question: 

Q.1 Which organization has launched its first hackathon called 'Bima Manthan-2022'?
a. SEBI
b. LIC
c. RBI 
d. IRDAI
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