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<br /> India’s leading <keyword id="385265" type="UNKNOWN" weightage="80" keywordseo="IT-service">IT service</keyword> firm <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (TCS) has announced its partnership with <keyword id="2733520" type="UNKNOWN" weightage="80" keywordseo="Europes-leading-accelerator">Europe’s leading accelerator</keyword> <keyword id="2733518" type="UNKNOWN" weightage="80" keywordseo="Startupbootcamp-FinTech">Startupbootcamp FinTech</keyword> to host the Pitch Days in India.<br />
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The Pitch days will be held at the TCS campuses in Mumbai and Bengaluru on February 24 and February 26, respectively. As a part of Co-Innovation Network (COIN), TCS has been working with start-ups across the world.<br /> The one-day event is open to innovative early stage start-ups in the financial technology sector. Ten startups will be chosen and shortlisted for their cutting-edge and innovative solutions. These firms will be offered an opportunity to participate in the 13-week long <keyword id="2733519" type="UNKNOWN" weightage="80" keywordseo="Startupbootcamp">Startupbootcamp</keyword> FinTech accelerator program in London or Singapore, as per a statement issued by the IT firm.<br />
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Markus Gnirck, co-founder &amp; Global COO of Startupbootcamp FinTech, said: “Being a part of our Pitch Days means that startups are on the Startupbootcamp FinTech watch-list for life, giving them a greater chance of being selected for one of our global programs.”<br />
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The shortlisted FinTech startups on the Pitch Day will also get an opportunity to connect with local mentors, investors and banking professionals in the community. With the help of feedback given by the experts of the industry, the participants can improve their offering, business model and pitching skills.<br />
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K Ananth Krishnan, chief technology officer of TCS, said, “India has a rich history of promising start-ups and we believe that programs like this will benefit the thriving technology start-up community in India and help to showcase the country’s tremendous enterprise to the global investing community.”<br />
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“We encourage startups, at whatever stage in their early development, to apply to join us for the unprecedented opportunity to connect with the Startupbootcamp FinTech global community and have access to worldwide opportunities. The work that we’re doing with partners like Tata Consultancy Services validates the need for accelerator programs to reach countries like India,” added Gnirck.<br />
(Image: TCS)<br />

TCS ties up with Startupbootcamp to encourage startups

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>REUTERS/Enrique Castro-Mendivil</span></p><p class="caption">An insurance revolution could be on the way - not quite on the same scale as this lot.</p></div><p></p></div></div>The world of finance is being turned upside down thanks to the rise of fintech, short for financial technology. But one big area remains pretty much untouched - insurance.</p><p>"Be in the city around lunchtime and stop the people walking around carrying big reams of paper - they're insurance brokers," says Pascal <span>Bouvier, a partner at fintech venture capital firm Route66 Ventures and <a href="http://finiculture.com/">a fintech blogger</a>.</span></p><p>Peer-to-peer lending is <a href="http://uk.businessinsider.com/peer-to-peer-zopa-lends-1-billion-2015-8">transforming loans</a>; crowdfunding is <a href="http://uk.businessinsider.com/crowdcube-6-million-investment-numis-ipo-2015-7">shaking up investment</a>; companies like <a href="http://uk.businessinsider.com/swedish-payment-company-klarna-thinks-it-can-save-newspapers-2015-5">Klarna</a> and <a href="http://uk.businessinsider.com/adyen-fintech-unicorn-payments-facebook-airbnb-spotify-wired-money-2015-7">Adyen</a> are changing the way we pay online and <a href="http://uk.businessinsider.com/where-in-uk-can-you-use-apple-pay-july-launch-kfc-nandos-marks-and-spencer-lidl-boots-2015-6">inventions like Apple Pay</a> are transforming the way we pay in person; and the blockchain technology that underpins bitcoin has <a href="http://uk.businessinsider.com/jpmorgan-barclays-and-others-join-r3-on-blockchain-project-2015-9">the potential to make banks themselves quicker and leaner</a>. </p><p>But, despite all this, insurance firms are still working in much the same way they did 10, if not 20, years ago.</p><p>Bouvier says: "Insurance companies are in some ways less advanced than banks were and still are when it comes to data, machine learning, and all of that."</p><p>For investors like Bouvier, that's a big opportunity. Technology startups can help insurance companies do their jobs faster, better, and cheaper - or just do it better themselves. Either way, they'll likely make good money in the process.</p><p>He says: "All 4 of our last investments were in the insurance space. It's a space that's barely explored."</p><p>"We're just at the start of an insurance explosion here. I've seen more and more insurance companies in the US, Europe, and Asia getting started. I wouldn't be surprised if we tally the numbers on investment in insurance startups two years from now and it's massive."</p><p>Amy Nauiokas, founder and president of fintech investment firm Anthemis, told me something similar when we spoke earlier this year.</p><p><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"><p class="source"><span>Anthemis</span></p><p class="caption">Anthemis founder and president Amy Nauiokas.</p></div><p></p></div></div>She said: "We've been speaking quite a lot about insurance recently, which isn't necessarily the sexiest part of the industry, but I think there is an appetite for innovation in insurance that historically hasn't existed.</p><p>"Seeing some of the new data-driven risk management products that are coming out is quite interesting. We're watching that space really closely."</p><p>Anthemis' biggest success to date was in insurance, with Climate Corporation. The San Francisco company used weather data to offer insurance to farmers and was bought by agriculture giant Monsanto for $1.1 billion (£720 million) in 2013.</p><p>Several other VCs I've spoken to recently have said that, for the first time in years, insurance is suddenly 'hot.' </p><p>Just this week <a href="http://uk.businessinsider.com/google-invests-32-million-in-oscar-healthcare-startup-2015-9">Google invested $32 million (£20.3 million) in Oscar</a>, a health insurance startup in the US that is one of the most prominent companies looking to rethink the way insurance works.</p><p>Not only are investors keen, the insurance firms themselves <em>want</em> to be "disrupted." A new accelerator is launching in London next January specifically focused on insurance and backed by some of the biggest names in the industry - car insurer Admiral, German giant Allianz, and Lloyds Bank.</p><p>"Industry appetite is actually not something I was expecting from the insurance world," says Nektarios Liolios, the managing director of the programme, Startupbootcamp Insurance.</p><p>"There seems to be a lot of hunger. I think they recognise that the financial world is in the process of doing this and the insurance world is lagging behind."</p><p>There is a lot of opportunity for lean tech startups to work their magic. Liolios says: "We look at interesting new business models like peer-to-peer or the crowd, just like in the financial industry a few years ago. What is exciting is new risk models and underwriting. But then it's also more mundane things like back-office improvements, claims-processing improvements. A lot of it is around distribution and user experience."</p><p>But there's one big piece of the puzzle missing - the startups.</p><p>Liolios says: "Not many startups self-identify as insurance startups. If somebody has a big data analytics platform, they could sell it to the insurance industry and it could be really valuable. We feel it is our responsibility to alert them to that."</p><p>The accelerator programme was first announce in June and so far Startupbootcamp has had around 50 applications. Liolios says this is a good number and he would be "really happy" if it gets 300 applications in total by October's cut off.</p><p>Part of the idea of the programme is to encourage more insurance fintech startups to be created, not just to nuture those in existance.</p><p>Liolios says: "The industry is just so early. Models like Oscar, it's clearly a very good startup. You've got Friendsurance in Germany which was one of the first ones to make a name with the peer-to-peer aspect. There are glimpses into possibility, but it's too early."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/animated-map-shows-where-worlds-mcdonalds-locations-2015-8">Animated map shows where all the world's McDonald's are</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xqa2UydzoQVDSuvFfPTTmvcL-vJuSmEs" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

This is the next revolution in fintech according to investors

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Seedcamp</span></p><p class="caption">Reshma Sohoni of Seedcamp, one of the VC's on the panel.</p></div><p></p></div></div>LONDON - Investors from around the world were asked what the hottest area for investment in fintech is right now at a conference on Wednesday. The same sector kept coming up again and again: insurance.</p><p>At the Economist Finance Disrupted conference in London this week, three out of the four VCs on the panel "Unicorns vs. Unicorpses" named insurance specifically when asked what was of most interest to them as an area for investment.</p><p>The sector was name-checked by: Yann Ranchere, a Geneva-based partner at fintech VC Anthemis; Reshma Sohoni, the CEO and cofounder of early stage <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> fund Seedcamp; and Timo Dreger, a managing director at Berlin-based Apeiron Investment Group.</p><p>The other investor on the panel - Technology Crossover Ventures general partner John Rosenberg - had a get out of jail free card. His Silicon Valley-based fund focuses on "growth" investment: funding for proven businesses that are scaling. Most insurance startups are far too early stage to sit in his wheelhouse.</p><p>All the panellists offered up other areas of interest, such as optimising banking backends and artificial intelligence, but somehow the conversation kept returning to insurance.</p><p>Dreger summed up it up well, telling the audience:</p><p style="padding-left: 30px;">"Right now we are looking at InsurTech. It's for sure the hottest thing in 2016 and for sure the hottest thing this year too. The answer is pretty easy why. In the whole insurance industry, there's a lack of innovation and the user experience is pretty horrible."</p><p>While everything from <a href="http://uk.businessinsider.com/p2pfa-q4-2016-stats-strong-end-to-year-p2p-funding-circle-2017-1">loans</a> to <a href="http://uk.businessinsider.com/bernstein-potential-robo-advisors-google-facebook-fintech-2016-10">wealth management</a> has been "disrupted" by technology over the last few years, insurance remains one of the few areas of finance that is still stubbornly old-fashioned. Insurers mostly operate through brokers and an embarrassingly high percentage of business is done on paper.</p><p>Products seem outdated too: home insurance hasn't adapted to the era of Airbnb and car insurance is even more hopeless when it comes to Uber and the sharing economy. The industry seems an obvious area for a tech-savvy startup to "disrupt."</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://www.youtube.com/watch?v=ekQNQtU0HS8">YouTube/DLDConference</a></span></p><p class="caption">Oscar Health founder Josh Kushner, arguably the most prominent face of InsurTech.</p></div><p></p></div></div>So far most of the innovation and momentum around "InsurTech", as its known, has been in the US, where the health insurance market presents a huge opportunity. The flag-bearer is Oscar, an online health insurer based in New York that has raised over $700 million from investors such as Goldman Sachs, Google, and Fidelity. (Oscar's cofounder is Josh Kushner, brother of Donald Trump's son-in-law and advisor Jared Kushner.)</p><p>However, InsurTech is gaining a foothold in Europe. <a href="http://uk.businessinsider.com/axa-insurance-startup-trov-uk-millennials-insurtech-tinder-airbnb-2016-11">Silicon Valley's Trov recently launched in the UK</a> and Sohoni highlighted Seedcamp's investment in Cuvva, which offers pay-as-you-go car insurance. Founded in 2014, the startup has already insured 150,000 hours worth of driving covering 2 million miles and this week <a href="https://techcrunch.com/2017/01/24/cuvva-localglobe/">raised £1.5 million from London fund LocalGlobe.</a> Germany also has a <a href="https://germanylandofinnovation.com/2016/12/02/insurtech-a-rapidly-growing-sector-in-germany/">particularly thriving InsurTech scene</a>, with notable companies such as Friendsurance and FinanceFox.</p><p>Still, the InsurTech revolution may not have arrived just yet. VCs told me insurance was <a href="http://uk.businessinsider.com/route66-ventures-and-anthemis-on-insurance-fintech-2015-9">the hottest area of fintech back in 2015 when I took the industry's temperature.</a> The pace of change is slow and not always straightforward.</p><p>The signs are positive, however. Back in 2015 VCs complained to me that, while insurance was ripe for disruption, there weren't many entrepreneurs who wanted to tackle it. "Not many startups self-identify as insurance startups," Nektarios Liolios, the managing director of accelerator Startupbootcamp Insurance, told me back then.</p><p>Startups are appearing in the space now, a step in the right direction. Dreger told the conference crowd in London this week: "InsurTech right now is where fintech was a couple of years ago. First, startups will focus on distribution but hopefully, in the future, we will see more things."</p><p class="tagline"><div id="categorypromo"><p><h2><span>Learn more:</span></h2><ul><li><a href="http://read.bi/pay1">Credit Card Industry and Market</a></li><li><a href="http://read.bi/pay2">Mobile Payment Technologies</a></li><li><a href="http://read.bi/pay3">Mobile Payments Industry</a></li><li><a href="http://read.bi/pay4">Mobile Payment Market, Trends and Adoption</a></li><li><a href="http://read.bi/pay5">Credit Card Processing Industry</a></li><li><a href="http://read.bi/pay6">List of Credit Card Processing Companies</a></li><li><a href="http://read.bi/pay7">List of Credit Card Processing Networks</a></li><li><a href="http://read.bi/pay8">List of Payment Gateway Providers</a></li><li><a href="http://read.bi/pay9">M-Commerce: Mobile Shopping Trends</a></li><li><a href="http://read.bi/pay10">E-Commerce Payment Technologies and Trends</a></li></ul></p></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/royal-mint-new-twelve-sided-one-pound-coin-queen-elizabeth-secure-coin-hologram-2017-1">The new 12-sided £1 coin will be the most secure coin in the world</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="N0aW1wODE6jQB25FprTUffuW8b_d13GC" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

4 VCs were asked what the hottest area of fintech is right now - all they could talk about was insurance

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<br /> India and the US differ widely when it comes to <keyword id="6354525" type="COMPANY" weightage="20" keywordseo="Healthcare">healthcare</keyword>.<br />
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<a href="http://www.businessinsider.in/now-you-can-calculate-your-credit-score-for-free-with-bankbazaar/articleshow/56797127.cms">ALSO READ: Now, You can calculate your credit score for free with BankBazaar</a><br />
<br /> Before the Budget 2017 is announced on 1st Feb, we wanted to compare the healthcare systems of two of the world's biggest democracies-the <keyword id="6356955" type="COUNTRY" weightage="20" keywordseo="united-states">United States</keyword> and India to highlight their differences and the changes we can make to improve the access and outcomes in our own country.<br /> According to <keyword id="43588" type="ORGANIZATION" weightage="20" keywordseo="World-Health-Organization">World Health Organization</keyword> (WHO) data for countries performing best in the healthcare sector, the US ranks 37, while India stands at 112.<br />
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<a href="http://www.businessinsider.in/here-are-the-10-startups-chosen-for-indias-first-startupbootcamp-fintech/articleshow/56797219.cms">ALSO READ: Here are the 10 startups chosen for India's first 'Startupbootcamp FinTech'</a><br />
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Last year's Budget came under criticism for not addressing systemic problems adequately, emphasizing instead health insurance schemes and public-private partnerships.<br />
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When it comes to outcomes, in India the life expectancy at birth is 63 years for men and 66 years for women, while that for the US is 76 years for men and 81 years for women. Children under the age of five are also a lot more likely to die in India than in the US.<br />
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<a href="http://www.businessinsider.in/here-are-the-top-three-states-that-scored-high-on-the-cashless-india-scorecard/articleshow/56797322.cms">ALSO READ: Here are the top three states that scored high on the ‘cashless India scorecard’</a><br />
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Let's look at the key areas of differences between the two countries.<br />

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