IIT Bombay Partners with HDFC ERGO
The Indian Institute of Technology, Bombay (IIT Bombay) has partnered with HDFC ERGO General Insurance, India’s leading private sector general insurance company. This alliance is a first in the insurance sector and aims to operationalise high-impact projects across the insurance value chain and develop solutions to relevant business challenges.
IIT Bombay and HDFC ERGO’s strategic partnership is expected to focus on the research and development in the emerging areas and add value to the overall sector. IIT Bombay will provide strategic business solutions to HDFC ERGO by leveraging the start-ups at the pre-incubation and incubation stage at the Desai Sethi School of Entrepreneurship (DSSE) and the Society for Innovation and Entrepreneurship (SINE), respectively.
HDFC ERGO will provide strategic investments to IIT Bombay over five years to institutionalize 50 high-impact projects across business verticals such as acquisition, servicing, claims, renewal, underwriting, actuarial practices, and operations. The partnership will also see the setup of an innovation lab at IIT Bombay’s campus in Powai, Mumbai. The lab will facilitate interactions, brainstorming sessions and requisite workstations for the students, professors and the HDFC ERGO team.