In a bid to bring innovative solutions to the Fintech industry and pave the way for young technology entrepreneurs, leading system integrator in Sub-Saharan Africa, Inlaks is inviting applications for TheHatch InsurTech Hackathon Challenge. The challenge is opened to individuals in Nigeria, Ghana, Kenya and Ethiopia.
The hackathon is geared towards the development of technologically enabled solutions that solve major problems in the insurance sector. Inlaks will also unveil its innovation lab called TheHatch. The launch of thehatch supports the vision of Inlaks to expand into a new phase termed “Inlaks 2.0” and it will build, scale and provide a nurturing environment for Fintech/InsurTech Startups by ensuring a level playing field for domestic technological ideas.
Femi Adeoti, Managing Director, Africa Operations, Inlaks, expatiated on the event noting that “Most tech-startups do not have the experience to reach the customers that would buy into their solutions.
“It is, therefore, our goal to hand-hold these startups and take them to greater heights while interfacing with some of our global clients and partners, and thereby take advantage of the opportunities that are possible.”
Do you love working on the next big thing? Looking to collaborate in teams and share learning experiences ?
Sign up for #thehatch #InsurtechHackathon . https://t.co/PLwPTAOT3B | Applications close July 3rd 2019. #Fintech #Insurtech #TGIF pic.twitter.com/OAvdYGWSBX
— thehatch Innovation Lab (@thehatchilab) June 14, 2019
Eligibility
- The idea must leverage web or mobile technology to solve a problem in the insurance industry.
- Teams must consist of at least two team members to a maximum of four members.
- Participants and their teams must be 18 and above.
- The participant’s application must be their original work or idea.
- Participants can use free and open source resources available on the internet.
- Participants must ensure that the personal information provided upon registration online is true and accurate.
- In the event that the idea/solution relates to payment, the participant should use the payment API provided by Inlaks.
- This application is only open to individuals from Nigeria, Ghana, Kenya and Ethiopia.
Objectives
TheHatch, an Inlaks Innovation Lab is organizing her first hackathon event and the successful participants will be required to develop solutions that will address:
- A major challenge in the insurance sector.
- Payment Innovation to optimize the current insurance payment system.
- Valuable collaboration with Stakeholders/Partners: – Insurance companies, Banks, Fintechs, etc.
The overall objective of this first edition is to discover any digital or technology-driven solution that solves a problem in the insurance sector. Intending participants will be required to develop solutions that are: innovative, viable, feasible and unique. The solutions developed must also be timesaving and safe for use, User-friendly, scalable and secure as well as convenient and versatile.
Judging Criteria
- Glitch-free application process.
- Market viable Ideas.
- Insurtech based solution.
- Novelty of the invented application.
- Feasibility.
- Practicability.
- Idea must be worth further investment.
Prizes
Winner: $5,500; 1st Runner up: $4,000; 2nd Runner up: $2,750
Application closes on Wednesday, 3rd July and click here to register.
