Mumbai based McXtra is a technology based insurance platform which allows consumers to collate all their insurance policies in a single app and also help dependents or family members of the insurer in emergencies.
The app allows services across fields like health, life, travel and vehicle among others. The app is available on both ios and android. A. S. Narayanan , Founder of McXtra tells us based on data sets of consumers, they even advice insurance policies.
Based on the data collected he says that people in India have not been increasing their medical insurance levels and based on their recommendation platform, they will help consumers understand spending patterns on insurance policies.
He says that the insurance industry traditionally has not been proactive to implementing new technology platforms. He plans to use ML to make use of the data and give consumer better insurance solutions and services. He also points out that their platform also collects important details on family doctors, blood group and makes these details available in case of an emergency with the user.