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Arunachal Pradesh Has Enacted A Startup Policy In An Effort To Encourage A Thriving Innovation Ecosystem

During a recent monthly meeting, Arunachal Pradesh’s state cabinet established a startup policy to foster the startup ecosystem and provide assistance. The CMO said the strategy would help 250 firms expand over the next five years, generating jobs in the state.

The policy’s objective is to “turn Arunachal Pradesh into a worldwide powerhouse for innovation and entrepreneurship by giving comprehensive assistance to local companies”. The state government supports Arunachal Pradesh’s startup ecosystem via programmes and initiatives.

The strategy lists encouraging innovation, establishing methods to finance entrepreneurs, reducing the regulatory environment, and giving businesses precedence in public procurement.

Arunachal Pradesh aims to make startups a fundamental part of its business framework. The administration seeks to place Arunachal Pradesh on India’s entrepreneurial map. The state administration asked for help from state and federal agencies.

Recently, Prime Minister Modi’s appeal for “Atmanirbhar Bharat” has included more and more references to Arunachal Pradesh. The measure will assist the frontier Indian state’s entrepreneurial sector to rise to new heights.

Arunachal Pradesh joins Delhi, Madhya Pradesh, and Tamil Nadu in launching new startup policies this year with the announcement of its startup policy.

Efforts done by the State for Introducing Startup

The state has introduced numerous measures to enhance its startup environment.

Arunachal Pradesh’s CM Pema Khandu established the Arunachal Pradesh Entrepreneurship Development Programme (APEDP) in 2020. The state picked 31 firms for seed money rewards, incubation, and pre-incubation from IIM Calcutta Investment Park.

APIIP is Arunachal Pradesh’s first state-owned incubator and a foundation of its Startup Policy.

The investment park provides infrastructural assistance to entrepreneurs, including a co-working space, a conference room for funders, a multi-purpose conference hall, a lecture and mentor’s room, and an office area.

State’s Initiatives for Boosting the Innovations and Startups

Narendra Modi has advocated supporting startups several times at May’s Mann Ki Baat. The PM called on India’s youth to establish more drone businesses during the Drone Festival of India 2022.

The government is also developing legislative frameworks to promote businesses across sectors, such as a framework for bogus ecommerce reviews.

The Arunachal Pradesh state cabinet approved the state’s Startup Policy, which promotes startups. Over the next five years, the government plans to help 250 new businesses get off the ground.

Arunachal Pradesh’s Startup Policy will stimulate innovation and generate jobs.

The CMO said the strategy would turn Arunachal Pradesh into a worldwide powerhouse of innovation and entrepreneurship by supporting indigenous businesses. Arunachal Pradesh’s government uses ‘Atmanirbhar Bharat’ and ‘Atmanirbhar Arunachal’ to strengthen the startup ecosystem.

FTX Denies Claims to Buy Robinhood

The FTX is also denoted as the famous currency exchange, and it is also denoted as the leading platform for currency exchanges. The FTX which has become a famous crypto exchange has denied the report that was published in a recent era that they are now going to buy Robinhood, which is denoted as the financial brokerage platform. The spokesperson of the FTX has confirmed the news that they are not thinking about buying the platform. Also, they have cleared that none of the M&A conversations has taken place between the two companies. 

 

Blomberg has also reported that the Sam Bankman-Fried, who is also known as the founder as well as the CEO of the FTX, have also been involved in the conversation where they have taken decisions to buy the commission-free trading platform and, as of now, the share price of the Robinhood has enhanced by 15%, the FTX can show their interest towards the trading of the FTX that is also a very important factor for several people to get the proper assistance. 

 

Hopefully, there was fake news for the trading between the two companies, and they can also take assistance from the end of both platforms. As in last year, the accusation report has said that the stock price has decreased by $9 in the last hour of trading status. 

 

But, the collaboration of both of the companies is not a new thing, as the Bankman-Fried has previously bought the stake value of robin hood, which is also denoted as almost 7.6% that, is a vast stack exchange process that was taken place and according to the SEC filing of the may month, the workability of the trading application has boots by almost 30%. 

 

As a result, if now the new trading process can take place, it is going to be a big trend for the company. In order to get an overall market share to enhance, many other companies can show their interest in the company, but, as of now, it is confirmed that FTX is not going to buy one of the most effective support as the claim has reported that there are some certain points that should be kept in mind properly so that the trade can take place between the companies. So, this is good news for Robinhood lovers that three favorite companies will remain intact as of now.

Organizations Embracing The Metaverse As Many Tech Employees Are Keen To Perform Certain Tasks In Virtual Reality

Organizations worldwide invest enormous time and money in training their employees to perform efficiently. Companies consistently perform and develop measures through which they can infuse their potential staff with great vision. Moreover, employees also want to be focused, practical, and creative in their job responsibilities.

With the introduction of ‘Metaverse’ employees are now keen on defining how the world has to perform and leaving the old monotonous processes behind. Companies are now embracing the Metaverse because employees take such initiatives to perform specific tasks in virtual reality.

This article tells you what Metaverse is and what exactly makes companies and employees approach the Metaverse virtual world with great hopes.

What is Metaverse?

The Metaverse amalgamates augmented reality (AR)and virtual reality (VR), and artificial intelligence and technology. In the Metaverse, individuals can virtually create space and plan events and attend those events virtually. Individuals can meet individuals via using their devices such as laptops, smartphones, IoT devices, etc.

Why are Companies and Employees Embracing the Metaverse?

Metaverse allows people to change how they deal with the world and create better possible scenarios related to their personal and professional endeavors. However, Metaverse is still developing; giant companies such as Google and Gucci have already started their operations in Metaverse.

Previously, social media usage only allowed connecting with people. With the arrival of the Meta-verse, employees can create and co-create meeting places and work environments from the comfort of their homes.

Meta-verse is also beneficial to businesses and financial organizations for a profound experience. Businesses can use Meta-verse for their office meet-ups on virtual conferences, where the employees can use their virtual avatars.

The work-from-home concept proves inefficient for most employees who want to contribute to the business. Meta-verse has a horizon workroom, particularly for visionary employees who can collaborate to execute great ideas. Companies embrace such concepts so that employees can be more efficient working from their respective homes.

Meta-verse intends to take the eCommerce business to a whole new level. Consumers have to inspect products online by just seeing static images of the product. It doesn’t provide a rich buying experience for them. With the help of AR and VR, consumers can see, touch, and examine the product to a satisfactory level before buying it. If the experience feels great, the consumer will more likely buy that product.

Also, companies can use Meta-verse for better advertising of their products and services and innovate customer-centric marketing.

Futuristic Development of Organizations Necessitates Digital Transformation

Once, “going online” was optional, maybe trendy at most, for organizations. Not anymore, though. In the race to stay relevant, digital transformation is now key to a futuristic development.

What is Digital Transformation

The leading tech mega-corporation- I.B.M., states that “digital transformation takes a customer-driven, digital-first approach to all aspects of a business.” Digital transformation essentially modifies and simplifies the methods of operation of a company.

It works on the core intention of facilitating the user base. Making the corporation easier to access on a digital level helps retain its relevance. Traditional businesses that opt to transform into digitalized versions have shown better performance in the stock market.

Going online also helps streamline the working of an organization. It amasses all information in one place for easier access. Digital transformation helps track and retrieve existing data and log in new data. Employees benefit in a business operating in the digital mode primarily.

Digital Transformation and Consequential Futuristic Development Pre-pandemic

The advent of cloud computing into mainstream usage aided companies in shifting to digital modes of operation. Many tech companies slowly gravitated toward complete digital transformation over the years. Certain big corporations also attempted to streamline their work using the digitalization of data.

The businesses that did opt for digital transformation saw longer relevancy in the market. The common masses prefer the ease of access over anything else. The availability of customer-centric websites and later mobile applications was a relief to most people. Be it someone incapable of going out due to medical predisposition or someone who prefers the comfort of their house.

How the Pandemic was Cataclysmic to driving Digital Transformation

The move toward digital transformation was slow and whimsical. While digital transformation was an upgrade earlier, this changed post-pandemic. It became a necessity rather than an option.

Companies had to shift online to stay relevant to the time and its demands. The pandemic necessitated the availability of work from home. Industries unable to operate online took a big hit, economically speaking.

While the pandemic may be nearing its end, it has opened a path toward complete digital transformation. It is a point from which no one can turn back. Small businesses do exceptionally well online, owing to their digital presence. Organizations that have still failed to digitalize their mode of operation are nearing their demise.

The evolution of the economy goes hand-in-hand with customer demand. Further development of an organization relies on the fact that they meet current demands. Not embracing technology is a cost too high. Digital transformation and optimum use of current technology is the only way for futuristic development.

Covid-19’s Impact On Education: Super 30’s Anand Kumar

The Covid-19 outbreak has negatively impacted education, and online education still has a long way to go to meet the demands of millions of children throughout the world, according to the recognized instructor and Super 30 creator Anand Kumar.

The Context for the Reports 

Super 30’s Anand Kumar is a journalist and Indian mathematician who grew up in Patna, Bihar. His super 30 class, which he started in Patna, Bihar, is famous. He educates financially weaker youngsters for the IIT-JEE, the Indian Institutes of Technology’s entrance exams (IITs).

The primary goal of Super 30 is to find promising young groups of learners from underprivileged areas and help them polish their talents by facilitating a supportive atmosphere. There are no limits to talent. It’s all over the place. All that is required is to recognize and promote the main power to grow.

Super 30 has performed that in the previous years, with good results. The exceptional students have received excellent instruction and an open environment to achieve their full potential.

Super 30 aims to assist students from low socio-economic backgrounds in entering IITs.

Anand Kumar’s proclamation in Salaam Bahrain’s program

Anand Kumar, speaking at the Indian School in Bahrain’s Salaam Bahrain program on the concept strategy of learning and teaching in the post-pandemic world, said that the consequences of the Covid-19 pandemic had been unavoidable worldwide, mainly on youngsters pursuing education.

We have no idea whether this is the end pandemic or when another will occur. As a result, we must be prepared because children cannot be kept out of the educational sector for such a prolonged duration, saying that Covid-19’s significance is now showing itself in significant learning inconsistencies.

Even though the circumstances needed online education, Kumar stated that they were not primed and ready due to the significant socio-economic differences.

He even stated that, as the popularity of digital learning has developed and will continue to grow, the value of qualified educators would rise as well.

Since e-learning is becoming more popular, the most outstanding educators will be rising and readily available. The primary concept of education is for students to be able to grasp the knowledge.

Improved technological discovery will play a significant role in this, and experts are making it more engaging for learners, Anand Kumar said.

Moreover, Super 30’s Anand Kumar wanted to expand the digital educational system so that in the future, if any pandemic occurs, that doesn’t cause any problems for the young generation.

The only thing to keep an eye on is student convenience. Students must have complete knowledge of the course. Any further pandemic should not impact students’ education systems.

Abdulla Najem: Redefining Water Deliveries

Meet Abdulla Najem, the CEO and Co-founder of Waterwa, which offers a variety of brands of beverages and water to be delivered to customers’ doorstep. Available on both iOS and Android platforms, the Waterwa app helps its clients to subscribe for weekly or monthly deliveries to their homes and offices.

Since his childhood, Abdulla was fascinated by the whole idea of starting his own company, which eventually pushed him to start network marketing at the age of 17. In a world still apprehensive of the internet’s power, people were surprised to see a young entrepreneur taking a route that was so out of the box. Later, Abdulla joined a college of business, where he fell in love with business once again and started his first startup with a friend.

Soon, they entered the world of media as a powerful force, and the humble agency eventually proliferated. However, Abdulla then transitioned into a corporate career, where he realized how a big scale company works. He started working with RedBull and then with a locally successful co-working space. Later he moved to start working for an incubator in order to stay close to the start-up world, where he learned every detail about starting a company, which eventually led to the creation of Waterwa.

Catering to a Demanding Market

Abdulla knows that the current market is very demanding and constantly changing. He says, “You need to keep an eye on what happens around you, so one of the things that keep us on track is to focus on the audience’s perspective.”

The human aspect of his organization’s strategy also helps him to understand better what drives the market and creates a new trend. Abdulla believes growing and standing out in a competitive market can be challenging, so following the already proven trends can be an effective tool.

As the Co-founder of his company, Abdulla now believes building a formidable team that led the company in its legacy journey is one of his most significant accomplishments. He takes pride in developing a team that can tackle any challenge at any point in time collectively and successfully. Also, by being the pioneer of the “drinking water delivery platform,” many of Waterwa’s suppliers successfully created their own e-commerce platform, which is incredibly rewarding for Waterwa.

Abdullah is a passionate businessman with leadership skills capable to create competent teams in different functions. His leadership in Waterwa proves his problem-solving skills and agility to create forward-looking enterprises and potential unicorns. Abdulla’s consistency is what every company strives for in their leadership.

Tackling Failures

Abdulla feels the most significant failure was when he first started Waterwa. He realized that he gave people the benefit of the doubt too often, which is a red flag for productivity. This caused him a lot of time and value that he could have used to grow his company. Now he follows a strategy of “three strikes, you are out.”

This new strategy ensures that Abdulla reaches out to everyone who has reached a second strike and collaborates with them to mitigate the challenge further.

When it comes to success, Abdulla says, “Success is when people recognize the brand you built even by its deconstructed elements, like a letter, a color, or even shape. That kind of potential for legacy pushes me every day to build it with Waterwa.” He also added, “But on a more personal note, success for me is to be able to be a serial entrepreneur that builds up multiple different brands that truly benefit consumer needs.”

Preparing for the Future

Abdulla explains that Waterwa is well on its way to building a legacy. As businesses depend on the constantly changing market, the team is razor-focused on making a brand that can stand the test of time and stay relatable in the market for a long time.

Abdulla and his team at Waterwa are building a brand that customers can depend on and feel genuine loyalty.

A Supportive Leader

Waterwa’s employees and clients love Abdulla for his authoritative and coaching style leadership.

They say, “You motivate us and give us the direction that helps us develop and utilize our abilities more to achieve not just our full potential but also work/company goals.” – Project manager of Waterwa.

“Every project I worked on with Abdulla, he made sure to give it his full support and attention. His teamwork is always inspiring, and he knows that he only works without ego and with a collaborative mindset. Working with Abdulla Najem is easy because he knows how to juggle all the tiny details while still being diligent of the bigger picture.” – Deena AlSaweer – founder of Dpro.

“Abdulla Najem has always been great at developing the needed structure and direction no matter what his role was. He creates a culture of mutual trust and care by always acting with integrity, accountability, and transparency.” Robetra Dsouza – Head of Country Logistics of TExpress – Talabat

MAIA Biotechnology: Addressing the Unmet Needs of Cancer Treatment

Globally, cancer is the second leading cause of death just behind cardiovascular diseases. With more than 15 million cases each year, the cancer burden continues to grow globally, pushing individuals and families towards mental, emotional, and financial strain.

Particularly the health systems in the low and middle-income countries are not prepared to manage the extra burden of cancer, and many cancer patients do not have any access to timely diagnosis and treatment. On the other hand, where healthcare systems are robust, survival rates are growing up due to early detection and better quality treatment.

Cancer is a group of diseases highly correlated with aging, and with the continuous increase in human life expectations, the incidence of cancer increases dramatically. Although the world has seen therapeutic progress in recent decades, not nearly enough has been accomplished. The unmet medical need still remains vast, and with the objective of addressing it comprehensively, MAIA Biotechnology, Inc. was founded in 2018.

The organization is a targeted therapy, immuno-oncology company entirely focused on developing first-in-class drugs with novel mechanisms of action intended to improve and extend people’s lives with cancer meaningfully.

With more than twenty years of experience in oncology, Dr. Vlad Vitoc is the Chairman and C.E.O. of MAIA Biotechnology. Curing cancer has always been a calling in his life. With the mission to find curative effect therapies to improve and extend the lives of cancer patients, he has managed and supported more than 20 early and mature stage compounds, which have included targeted and immune therapies across more than 25 types of tumor, including lung cancer, colorectal cancer, breast cancer, hepatocellular carcinoma, prostate cancer, and renal cell carcinoma.

Dr. Vitoc has received an M.D. from the University of Medicine and Pharmacy, “Iuliu Hatieganu,” Cluj-Napoca, Romania, and his M.B.A. from the University of South Carolina.

The Fundamental Source of Innovation

Dr. Vitoc believes the BioTech industry is the primary source of innovation for various modern medicines. Historically the R.O.I. has been substantially exceeding other industries. Over the last six months or so, the market has undertaken a substantial amount of correction, creating opportunities for another episode of high growth.

With high levels of unmet medical needs and a relatively price-sensitive market, Oncology has become a very important sub-sector of the BioTech industry, resulting in very profitable operations and robust R.O.I., better than any other sub-sectors in the BioTech industry.

On the other hand, MAIA has developed THIO, a first-in-class telomere targeting agent with a very effective immunologic anticancer effect. Currently, the firm is advancing THIO in Phase 2 clinical study in Non-Small Cell Lung Cancer. This will be the first study to test THIO’s immune system activation followed by administration of the checkpoint inhibitor cemiplimab, allowing for the immune activation and PD-1 sensitivity to take effect.

Tackling Challenges

MAIA is a virtual operation, and the leaders have the advantage of using the national and international resource pool to attract and employ talents from all over the planet. So, with employees operating remotely, the pandemic had minimal effect on the company.

However, the pandemic impacted the global supply management chains in unpredictable ways, delaying the firm’s manufacturing process by a few months due to vial shortages.

Dr. Vitoc also believes that one of the most critical challenges is the weak capital markets. He and his team have already prepared MAIA for its I.P.O. and are now waiting eagerly for the reversal of market trends to price and execute.

Mission and Vision

MAIA’s vision is to become the first BioTech company to commercialize telomere targeting agents and develop a franchise of increasingly more effective agents, which will eventually help it evolve into a fully integrated global BioTech company.

As the organization’s leader, Dr. Vitoc says, “Our mission is to research, develop, and deliver innovative medicines to improve and extend people’s lives with cancer. Our focus is on telomere targeting agents, a therapeutic class in which MAIA are leading the field.”

Future Roadmap

Thanks to THIO’s vast applicability and ability to work on telomerase-positive cells, MAIA plans to develop THIO for multiple tumor types.

The firm’s THIO-101 trial is in Non-Small Cell Lung Cancer, the largest tumor type market in the world. MAIA is currently planning for its approval and commercialization in the U.S. by 2025. The organization also plans to partner with large international pharmaceutical companies.

While THIO- 102 trial is in a salvage setting in Colorectal Cancer, Liver Cancer, and Small Cell Lung Cancer. On the other hand, the THIO-103 trial is the first line of therapy in 9 tumor types.

MAIA is also developing the next generation of telomere targeting agents. The first two agents provide an incredible amount of efficacy in preclinical models and will be following THIO to the market in the next 3-5 years. Also, in 2022-24, the firm’s entire emphasis will be on building its Research and Development capabilities. In 2025 the firm plans to add commercial capabilities to become a fully integrated U.S. BioTech company.

Dr. Vitoc says, “With THIO, we have a tremendous opportunity in front of us: we have launched an exciting clinical pipeline, including a well-known strategic partner in Regeneron. THIO is the only telomere-targeting agent in the world.”

The best part of THIO is the ability to use it in a sequential combination with existing immune therapies. It has a novel dual mechanism of action, which provides direct telomere targeting and immunogenic effect, making existing drugs far more effective. With its accomplished management team navigating, MAIA Biotechnology direction and development of assets, the firm is developing next-generation candidates to complement its platform.

Visit MAIA Biotechnology.

DeepPsy: Using Technology to Personalize Psychiatric Treatment

DeepPsy is a Swiss startup that was founded in 2021 with the goal of bringing technology developed by the psychiatric scientific community into the everyday routine of clinicians. Indeed, one of the main problems in psychiatric treatment is that, opposite to most other fields of medicine, treatment decisions are mainly based on information obtained at the symptomatic level, with little consideration for the biological mechanisms of individual patients. As a consequence, patients often go through a prolonged trial-and-error process in order to find an effective treatment.

DeepPsy wants to change that: By giving psychiatrists access to the newest technologies developed, tested, and validated by the scientific community, they can better identify the treatment with the highest likelihood of success in a specific patient. The organization’s flagship technologies are algorithms that analyze brain waves (EEG) and heart activity (ECG). Those are made available to clinics and hospitals through a user-friendly web interface. DeepPsy processes its patients’ electrophysiological data according to the latest evidence-based research findings in this field, resulting in the computation of different features derived from patients’ brainwaves and heart activity. These parameters can be interpreted on which treatment options might be best for a patient.

Further, DeepPsy collects the anonymized data from patients (with their permission) and trains its Deep Neural Networks to identify even better patterns for the prediction of treatment response. This guarantees that DeepPsy improves its service with every customer!

Steadfast Leaders

DeepPsy was co-founded by Mateo de Bardeci and PD. Dr. med. Sebastian Olbrich. Mateo studied physics and data science at the ETH Zurich. He started doing research in psychiatry back in 2019. As there are few data scientists working in psychiatry, he felt that his background and work would allow him to create a lot of value in the field. It was also in 2019 that Mateo met Sebastian at an entrepreneurship workshop. Sebastian is a trained psychiatrist and the Chief of the Center for Depression, Anxiety Disorders and Psychotherapy at the Psychiatric Hospital of the University of Zurich, Switzerland – one of the largest academic Psychiatry Hospitals in Europe. He has been conducting research on psychiatric biomarkers during the past 10 years, especially in the field of electrophysiology, with the goal of improving the treatment outcome in psychiatric disorders and thus decreasing the suffering of his patients. He told Mateo about his vision for the future of psychiatry, and both of them soon decided to work together to make it come true.

Founding Stone

During his research days, Mateo quickly realized that there is a huge need for innovation in psychiatric treatment. Indeed, while technology has changed our day-to-day life completely, these changes have not arrived to psychiatry yet. Furthermore, Sebastian understood that many academic research findings never made their way into everyday clinical decisions either. Usually, physicians choose treatments based on very subjective information, not considering objective markers that could guide and improve their decisions for a specific drug or other types of interventions, such as transcranial magnetic stimulation (TMS) or psychotherapy. Hence, both of them created the idea of DeepPsy to make the findings of biomarker research available for every psychiatrist and patient and to help to find the best individualized treatment. Now DeepPsy has a web-based framework that will help to improve treatment outcomes in major depression based on individual EEG and ECG data. This will shift the way in which psychiatric patients are treated and propulse psychiatry into the 21st century.

“Mental disorders are among the leading burden of disease worldwide. We, as a society, are building rockets to fly to mars and our cars will soon drive autonomously. Then why take psychiatric disorders such as depression as a predetermined fate? We have the knowledge to treat them based on objective information, and hence we should take this chance. DeepPsy is ready for the voyage.”

The firm’s goal for 2022 is to bring its first product to the Swiss and EU markets. In the coming years, the organization is planning to expand globally and increase its portfolio of solutions to include more mental illnesses and treatment options.

Data-Driven Solutions are Key

A major trend in the biotech industry is using data-driven solutions that have proven to be successful in other industries – especially the use of real-world data. These technologies have already proved to be a game-changer in oncology and imaging. DeepPsy is bringing it to psychiatry.

Tackling Challenges

DeepPsy believes that personalized treatment should be a global standard instead of only a research project. The firm’s mission is to bring psychiatry to the 21st century.

DeepPsy wants to help as many patients as possible. Therefore, it wants its solutions to be fast, accessible, and low cost. Simultaneously, the organization has very high standards of quality, data security, privacy, and scientific validity. However, creating solutions that fulfill both aspects was a challenge for the company.

Amaze Insurance Brokers: Solving Client’s Insurance Needs

Handling an insurance portfolio is not an easy job, it requires great professionalism, technical competencies, skills, and experience, which together are a rare combination. However, clients can now utilize these combinations through Amaze Insurance Brokers Private Limited, which in return provides amazing benefits in terms of coverage, savings in premium, timely renewals of policies, and expeditious & judicious settlement of claims.

Amaze Insurance Brokers Private Limited is an insurance broker licensed by the Insurance Regulatory & Development Authority of India. As an insurance broker, Amaze employs professionals with proven professional skills and technical competencies from the field of insurance and insurance broking with years of experience in managing insurance portfolios of clients starting from SMEs to big organizations.

The firm designs the most suitable insurance program (MSIP) for the clients duly meeting all their insurance requirements. It also makes a thorough analysis and evaluation of existing insurance covers and recommends definite solutions to fill up the lacunae, if any, in coverage. Additionally, Amaze Insurance Brokers sends recommendations to clients on ensuring proper and adequate coverage of assets, operations and liability areas.

The Skilful Leader

K. Muralidhara Reddy is the Managing Director and Principal Officer of Amaze Insurance Brokers Private Limited. k.Reddy is a professional with more than 3 decades of experience in managing various insurance portfolios starting from SMEs to big companies bringing in customer satisfaction. K. Reddy has a rich experience working in the insurance field as an MD and principal officer since January 2003. He is a team builder in multiple areas of operations including underwritings, claims, marketing, IT, client retentions, and finance.

Skilful in maintaining a cordial relationship with insurers, other organizations, and clients, K. Reddy is well known for a very high-level competency in underwritings and claims of all departments. Additionally, he possesses special skills in designing and implementing various rural insurance schemes by devising suitable procedures and involving software platforms.

The Differentiator

Amaze Insurance Brokers offers its Insurance Portfolio Management Services to various corporate, small, and medium-sized organizations for their entire portfolio. Until there’s a reasonable ground to consider, the firm stays away from where clients appoint multiple insurance brokers. The insurance broker firm handles all insurance requirements of its clients and delivers the best for them. The firm is very experienced in handling the insurance portfolio of clients from every sector and insurance covers of all types.

  • Project Insurances: EAR/CAR//CPM/Marine Cum EAR (MCE)/Global WC etc. Operational Covers -IAR/ Fire &Special Perils Policy/Marine/MBD/ BPP/EEI/Money Insurance – Cash in Transit & safe/ Employee Crime (Fidelity Guarantee), Jewellers all risks insurance.
  • Business Interruption Covers: Advance Loss of Profits (ALOP), Marine Delay in Start-Up (Marine DSU), Weather Insurance, Fire Loss of Profits (FLOP), Machinery Loss of Profits (MLOP).
  • Liability Insurances: CGL/ Public Liability (Act)/E&O/D&O/Professional Indemnity/Product Liability/Clinical Trials/WC/ Cyber Liability Insurance etc.
  • Employee Benefits: Group Health (GMC) /Group PA (GPA) /Group Term (GTLI) /Group Gratuity/ Superannuation/ Leave Encashment/Group Overseas Travel (GTI) etc.
  • Other Insurances: Vehicle Insurance for company’s and employees’ vehicles/top-up health/unnamed PA/Special Contingency/Export and Domestic Credit Insurance/Rural Insurance and other insurances.

Currently, Amaze Insurance Brokers handles sectors like; IT &ITES, Pharma, Hospitality, Power Sector (windmills, solar, biomass, gas, thermal, hydro), Bio-Tech and Clinical Research Organizations, Manufacturing, Service, Various Government Departments, SMEs, Rural Insurance covers, etc.

The firm is also one of the first insurance brokers in the industry, which successfully designed, developed, and implemented a unique software platform in 2016 for implementation of sheep insurance. Amaze Insurance Brokers prefers to subscribe to various national and international journals. With well-trained employees, who have completed their Brokers’ Training and passed various examinations as stipulated by IRDA, the firm is solving its clients’ insurance-related problems since its inception.

An Industry on the Rise

Introduced in 2002, with the first batch of licenses issued in 2003, two decades are nearly completed for the concept of insurance broking in India. ‘Broking’ is still considered taboo in India, creating many hurdles for the companies. During the first few years, even the government bodies and big corporate houses were not inclined to avail the service of an insurance broker. However, since then, the industry has come a long way, and many of the clients have started to engage, the services of insurance brokers.

Though Mr. Reddy believes, still a majority of clients have not been able to realize the full potential of professional services from an insurance broker, and they still consider insurance brokers as a quote getters. Insurance brokers are also expected to educate clients and deliver value in their services. Internationally, clients chose one insurance broker for the entire portfolio or policy-wise. Eventually, the selected insurance broker will manage the portfolio by extending his/her risk management services and dealing with various insurers to arrange the proper cover and expeditious settlement of claims.

Interestingly, many Indian clients appoint multiple insurance brokers to get a quote from the insurance companies. However, this process does no good for the clients, as they often miss out on the loyalty from the insurance broker, who might limit his/her services only to obtain the quotes. Here IRDA has given orders to the insurers, that they have to provide the same quote when multiple insurance brokers approach them for a quote under the same risk/policy. This step was taken to enable the client to select the right insurance broker and avail of his/her services. A client should understand the benefits of the services of an insurance broker and should appoint them only after the due selection process.

As the MD of Amaze Insurance Brokers, Mr. Reddy says, “Insurance Brokers have garnered as high as 55% of total business underwritten by insurers in India, which is a great achievement for this concept introduced by IRDA. This growth would continue and may touch 70-75% over next five years.”

The services of an insurance broker to a retail client are the need of the hour. K. Reddy feels the areas of claims need to be the focal point for all the insurance brokers and IRDA to create and build the much necessary trust factor among the policyholders and common man.

Mission and Vision

Amaze Insurance Brokers aspires to;

  • Being an ethical, principled, and value base organization set a new benchmark in the industry
  • Cater to the needs of all sections of the society
  • Bring in customer delight by adhering to the TATs in underwriting and claims settlement
  • Deploy appropriate Risk Management practices across the clients’ portfolios

As an insurance broker, Amaze’s vision is to establish and emerge as one of the most preferred insurance brokers in the country. The firm provides innovative solutions and ensures complete client satisfaction. It also aspires to combine excellence, quality, and timely service delivery with the utmost professionalism in risk management, premium management, risk coverage, and insurance portfolio management services to all its customers. K. Reddy believes sustainability will be a key factor when it comes to earning a great reputation for great ethics and trusted services to all of the clients.

Picture of the Future

In order to keep up with the competition, Amaze Insurance Brokers have entered into the world of online sales of insurance products. The website offering online sales, is in its final stages and will be launched commercially in May 2022. The online portal has been named Bimastreet, and it has its uniqueness when it comes to claims service to the customers, which is a big differentiator in the crowded market.

Bimastreet meets the unique need of retail clients. The firm would also love to have its digital solutions for SMEs and Corporates with all the required features, which will be its next big project.

Additionally, the firm is also coming up with an onsite insurance audit for its clients. Thus enabling them to evaluate the portfolio being handled by Amaze Brokers to make improvements.

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