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HDFC Life and SINE-IIT Bombay Launch ‘InsUReka’ Startup Challenge to Drive Innovation in Life Insurance.

Banking & Finance | Dated: 26 Jun 2025

In June 2025, HDFC Life in collaboration with the Society for Innovation and Entrepreneurship (SINE), IIT Bombay, launched ‘HDFC Life InsUReka’—a nationwide startup challenge designed to invite breakthrough digital innovations in customer experience, operational efficiency, and risk management within the life insurance sector.

🎯 Key Highlights:

  • - This challenge aims to identify and support early- and growth-stage startups working on cutting-edge technologies such as AI, health tech, gamification, and data analytics that can be applied in the life insurance domain. The initiative aligns with India’s larger digital transformation goals and the mission of “Insurance for All by 2047.”

💡 Other Important Facts:

  • (i) Through InsUReka, shortlisted startups will receive mentorship, access to workshops hosted at IIT Bombay, and opportunities to develop proof-of-concept solutions in collaboration with HDFC Life. The selected startups will also gain exposure to enterprise scaling frameworks and industry networks.
  • (ii) Applications opened on 6 May 2025 and will close by 7 July 2025. The programme includes ideation, pitching rounds, and a bootcamp phase, with the final cohort expected to be onboarded in September 2025. The challenge reflects the strong public–private-academic model of fostering insurance innovation in India.
  • (iii) HDFC Life COO Sameer Yogishwar stated that this initiative taps into India’s thriving startup ecosystem, while SINE CEO Shaji Varghese emphasized the importance of translating research and entrepreneurial talent into industrial insurance solutions.

📚 Test Your Knowledge:

Which organization has recently partnered with SINE-IIT Bombay to launch the ‘InsUReka’ startup challenge?

Correct Answer: HDFC Life

🚀 Quick Recap: