Candela Labs – Using Machine Learning and Working on Blockchain

The Gist: 21-year-old Bangalore-based IT provider, Candela Labs, wants to give insurance customers the “Dominos Pizza experience” because the insurance customer has changed. And Candela Labs is focused on one’s smartphone. “Today’s customer is living his life off a smartphone where they neither want to call up a call centre or go through an agent” – Candela Labs CEO Arsh Maini. It recently launched a new chatbot solution and it’s working on integrating machine learning and blockchain into its offerings. Bottom Line: FWD, Prudential and Birla Sun Life Insurance are clients; to name three. Speaking of blockchain, last month Bajaj Allianz announced the launch of ‘Travel Ezee’, a blockchain-based travel insurance product that comes with the benefit of an automated claims process.