Qatar gears up for hosting up InsurHack MENA, the initial InsurTech Hackathon in the MENA region organized by Qatar Insurance Group (QIC Group), a leading Qatar Insurer and MENA region, together with Deloitte, a leading global professional services firm, Google Cloud, a global cloud provider, and QIC Digital Venture Partner (QIC DVP), the venture builder arm of QIC Group.
InsurHack MENA is scheduled to take place virtually on the 5th and 6th of June, offering the flexibility for participants to join globally from any part of the world. The Hackathon calls upon teams and start-ups across pre-seed, seed, and Series A stages from the MENA, SEA regions, and Europe to join the event.
Following the two-day online event, 15 participants will be shortlisted out of 50 and will proceed to a one-week mentorship phase. The final six “best” teams selected, will be invited to a demo day in Doha on the 23rd of June, during the InsurTech Summit in Doha.
The Hackathon is also organized in partnership with Anthemis – the global leading InsurTech Venture Capital, Prifina – a leading personal data platform in Silicon Valley, and Qatar Financial Centre (QFC), the go-to commercial hub between East & West.
Industry sources also added that the Top 3 solutions selected by the judges will be rewarded with an opportunity to co-build a solution in the MENA region with the support of regional market leaders such as QIC, Deloitte, Google Cloud & other key market players, and will secure a potential investment opportunity by QIC. The winner will also have the opportunity to attend the world’s leading InsurTech conference in Las Vegas, Nevada, USA, with an exclusive pitch and investment opportunity to Anthemis, the world’s leading InsurTech Venture Capital.
Deliverables will be judged on the quality of the problem statement fit, the level of innovation, the solution feasibility in the MENA region, and the team composition. The judging panel is composed of industry experts, technologists, MENA experts, entrepreneurs, and executives from QIC, Deloitte, Google Cloud, Anthemis, Prifina among other organizations.
Salem Al Mannai, Group CEO of QIC Group stated: “Topics tackled by the hackathon are rooted in today’s challenges. The turmoil and uncertainty in 2020 created an exponential need to adapt to changing customer needs in the insurance sector. Insurance innovation and its value chain digitization are starting to gain strong momentum. Therefore, InsurHack MENA is on a mission to unlock better customer experiences in the mobility and health insurance verticals and is looking for new value propositions and solutions in big tech analytics, AI/ML, behavioral economics, and conversational AI.”