Tag: CEO & Cofounder

Business, News

CarDekho launches hassle-free online retailing of pre-owned cars

Jul 15, 2021 by Rekha Nair 0 Comments #CarDekho Group, #CEO & Cofounder, #Mr. Amit Jain

New Delhi: CarDekho Group, India’s leading auto-tech company, has launched an online hassle-free pre-owned carCarDekho logo retailing service. This new service offers an AL/ ML driven end-to-end digital car discovery and buying experience to customers.

Customers can now search more than 5,000 certified used cars according to their preferred manufacturer, model, variants, manufacturing year, kms driven, budget, etcand buy their desired car from the CarDekho platform at the click of a button.

CarDekho offers ‘No Questions Asked’ 7days money-back guarantee where customers can test-own the car for 7 days, and get 100 percent refund if not satisfied. CarDekho also offers 6 months comprehensive warranty and Pan India Roadside assistance (RSA) to the customers. RC transfer is taken care of by CarDekho and free insurance is also bundled with the car. Such benefits have been unheard of in the used car retailing space.

The service is currently available in Delhi NCR, Mumbai, Bangalore, Pune, Ahmedabad, Chandigarh, Agra, Lucknow and Kanpur and will soon be expanded to newer markets.

Mr Amit Jain, CEO& Cofounder, CarDekho Group, said, “Since the pandemic, we have seen a marked shift in customer preference for personal mobility and the demand for quality used cars has grown exponentially. With greater adaptation of technology and most transactions moving online, customers are now looking for ease as well as safety. We have introduced the first ever pure e-commerce platform for used car retailing in India that gives buyers the same ease of experience which they derive from other regular e-commerce transactions. The cars sold through CarDekho go through a 217 points stringent quality check to ensure our cars give the best performance to our customers”.

The car retail offering is backed by data science, AI & ML enabled technologies and designed with the customer at its core. The customers can check a detailed 217 points inspection report of the vehicle with just a click from any location globally. Additionally customers can zoom through 360 degree high definition car images to check the minutest details of the car condition and make an informed decision.

Customers also receive detailed information of high quality refurbishment work done by CarDekho on the car. The company’s sophisticated technology platform gives customers a near physical car buying experience on their laptops or mobile phones anytime anywhere.

Once a car has been selected, the customer can quickly complete the purchase journey online. Customers can opt for home delivery of car or choose to pick-up the car from one of the multiple delivery centers of CarDekho. Further, if the customer is seeking a used car loan, the complete loan journey can be done seamlessly on the CarDekho platform.

Being a one-stop solution provider for buying and selling cars, CarDekho has proven expertise in delivering the best to its customers. It sets the highest quality standard for the cars being sold through it. Using Artificial Intelligence and machine learning models on car buying patterns over millions of data points, CarDekho predicts the selection of car models that customers are looking for. Based on every customer’s behaviour on the CarDekho platform, it recommends the best suited cars for customers based on their requirement, tastes and preferences, the AI car pricing engine then determines the best prices for cars for the customers. All this to ensure the customers take home the cars that are not the cheapest but the most suited ones for them and the best value for money.

Business World, News

Neobank Fi announces launch in India

Apr 23, 2021 by Rekha Nair 0 Comments #CEO & Cofounder, #Chief Operating Officer and Business Head - Retail, #Executive Director, #Federal Bank, #Fi, #Ms. Shalini Warrier, #Sujith Narayanan

Bengaluru: Bengaluru-based neobank for salaried millennials Fi has announced its launch today. Fi was established with a strong purpose to help people get better with money and to create an intelligent bank layer that helps millennials understand their money, save more and spend intelligently. Fi has partnered with Federal Bank to issue an instant savings account, equipped with a debit card, in under 3 minutes.

Founded in 2019, Fi is the brainchild of ex-Googlers who pioneered Gpay, Sujith Narayanan and Sumit Gwalani. It offers an interactive, personalised, and transparent digital banking experience. Users gain access to a new-age savings account and money management tools with features that help users know their money, grow their money and organise their funds. Fi aims to assist a consumer’s financial journey beyond digital payments to other services — insurance, lending, and investment opportunities.

Commenting on the launch, Sujith Narayanan, CEO & Cofounder, Fi, said, “We are excited to introduce a proposition that reimagines the way digital-first millennials perceive and interact with their money. Fi aims to be a meaningful partner in their money aspiration journey, enabling them to simplify finances and de-mystify savings. Our platform leverages cutting-edge tech and data science for deriving actionable insights that empower users to take control and do more with their finances. We look forward to delivering a first-of-its-kind, personalised, flexible and transparent banking experience and building long-term customer relationships.”

Speaking on the occasion, Ms. Shalini Warrier, Executive Director, Chief Operating Officer and Business Head – Retail, Federal Bank said, “We are delighted to be the sole partner Bank for this innovative neobank, Fi. The entire proposition brings together the best of what both entities have to offer. The slick customer experience via the app is complemented with the stability, safety and technological prowess of Federal Bank. We are confident that the salaried millennial will welcome this unique digital experience. The best of both worlds – fintech and banking – will be served on a platter to the customers”.

The app listens to customer needs, understands their wants, and gently nudges them to achieve their money aspirations. Every aspect of Fi’s design minimises friction for the digital-first generation. The Fi app is one-of-a-kind in its approach, as its users will earn rewards for saving money as well – unlike the market.

Some of Fi’s unique features include:

AskFi: An intelligent financial assistant that answers financial questions, provides nudges, reminders and is enabled to do money-related tasks

Fit Rules: Automatically save, pay or set reminders based on external events, triggers and the user’s terms

Stash: A flexible deposit product that pays higher interest and allows users to withdraw money at any time. A combination of RD / FD without the usual restrictions

Pay Protocol: No more choosing between UPI, NEFT, IMPS or IFS code hunts. All intelligently managed

Money-Plant: Built on the premise of ‘choice’ and rewards for better financial habits

Smart Statements: A simple, visual statement of the user’s money

Fi’s team of experts – from Google, Netflix, PayPal, and others – distil decades of tech & banking wisdom into Fi. The company is funded by Sequoia India and Ribbit Capital.

Business World

Neobank Fi Launched in Partnership with Federal Bank

Apr 23, 2021 by Neel Achary 0 Comments #CEO & Cofounder, #Chief Operating Officer and Business Head - Retail, #Executive Director, #Federal Bank, #Fi, #Ms. Shalini Warrier, #Sujith Narayanan

Mumbai: 23 April 2021, Bengaluru-based neobank for salaried millennials Fi has announced its launch today. Fi was established with a strong purpose to help people get better with money and to create an intelligent bank layer that helps millennials understand their money, save more and spend intelligently. Fi has partnered with Federal Bank to issue an instant savings account, equipped with a debit card, in under 3 minutes.

Founded in 2019, Fi is the brainchild of ex-Googlers who pioneered Gpay, Sujith Narayanan and Sumit Gwalani. It offers an interactive, personalized, and transparent digital banking experience. Users gain access to a new-age savings account and money management tools with features that help users know their money, grow their money and organize their funds. Fi aims to assist a consumer’s financial journey beyond digital payments to other services — insurance, lending, and investment opportunities.

Commenting on the launch, Sujith Narayanan, CEO & Cofounder, Fi, said, “We are excited to introduce a proposition that reimagines the way digital-first millennials perceive and interact with their money. Fi aims to be a meaningful partner in their money aspiration journey, enabling them to simplify finances and de-mystify savings. Our platform leverages cutting-edge tech and data science for deriving actionable insights that empower users to take control and do more with their finances. We look forward to delivering a first-of-its-kind, personalized, flexible and transparent banking experience and building long-term customer relationships.”

Speaking on the occasion, Ms. Shalini Warrier, Executive Director, Chief Operating Officer and Business Head – Retail, Federal Bank said, “We are delighted to be the sole partner Bank for this innovative neobank, Fi. The entire proposition brings together the best of what both entities have to offer. The slick customer experience via the app is complemented with the stability, safety and technological prowess of Federal Bank. We are confident that the salaried millennial will welcome this unique digital experience. The best of both worlds – fintech and banking – will be served on a platter to the customers”.

The app listens to customer needs, understands their wants, and gently nudges them to achieve their money aspirations. Every aspect of Fi’s design minimises friction for the digital-first generation. The Fi app is one-of-a-kind in its approach, as its users will earn rewards for saving money as well – unlike the market.

Some of Fi’s unique features include:

o AskFi: An intelligent financial assistant that answers financial questions, provides nudges, reminders and is enabled to do money-related tasks

o Fit Rules: Automatically save, pay or set reminders based on external events, triggers and the user’s terms

o Stash: A flexible deposit product that pays higher interest and allows users to withdraw money at any time. A combination of RD / FD without the usual restrictions

o Pay Protocol: No more choosing between UPI, NEFT, IMPS or IFS code hunts. All intelligently managed

o Money-Plant: Built on the premise of ‘choice’ and rewards for better financial habits

o Smart Statements: A simple, visual statement of the user’s money

Fi’s team of experts – from Google, Netflix, PayPal, and others – distil decades of tech & banking wisdom into Fi. The company had raised $13.5 million in its seed round led by Sequoia India and Ribbit Capital.

Business World

Fintech startup Fi is looking for 21 Chief Broke Officers

Mar 12, 2021 by Neel Achary 0 Comments #CEO & Cofounder, #Fi, #Sujith Narayanan

Mumbai, March 12, 2021: Fi, a neobank for salaried millennials with a strong purpose to help people get better with money, has rolled out a first-of-its-kind consumer awareness campaign called ‘Chief Broke Officer’ on LinkedIn.

Via its recent LinkedIn post, Fi is inviting applications for the unique role of ‘Chief Broke Officer’ (CBO) where the only qualification that interested candidates need to have is a broken relationship with money!

CBO is a voluntary and virtual role introduced by Fi specifically to help people know, grow and organise their money. Applicants will get early access to the Fi App which comes with an in-built savings account and a full suite of cool features.

Fi is looking for 21 CBOs through this campaign, each of whom will be paid to fix their broken relationship with money. The brand will match the CBO’s current salary and provide an extra month’s salary (up to INR 1 lakh). The responsibilities of a CBO include opening a Fi savings account, testing Fi’s app and sharing feedback.

Elaborating on the campaign, Sujith Narayanan, CEO & Cofounder, Fi said, “Fundamentally we all like money; we make money, we spend money. But more often than not, that’s where it stops. We don’t understand our money, where it goes, what to do with it or how to grow it. We run to our parents, chartered accountants, and anyone else willing to help us with it. We crib every tax season or every time we end up buying a mediocre financial product. We ask ourselves the same questions around money month after month, year after year no matter how many hikes we get. Perhaps it’s time to take charge of our money. The objective of introducing the role of Chief Broke Officer was to call attention to our broken relationship with money. For us, it was also a way of introducing our features and waitlist to interested users. An unconventional approach but definitely one that helps both of us. You & Fi. We have received thousands of applications for the role so far and have noticed some interesting conversations on social media around the campaign.”

This fictitious job application is open to working professionals anywhere in India with 1-15 years of experience who are confused by financial jargon. Fi’s ideal CBO candidates need to be ‘active procrastinators’ about money matters, skilled in the art of working hard and spending harder and collaborative when it comes to handing over money decisions to family and friends!

Interested candidates who identify with the above job description can apply to be a CBO on fi.money/cbo and get screened for the role.

Business World, News

Liberty General Insurance Rolls Out AI-based Automated Car Inspections

Feb 18, 2021 by Rekha Nair 0 Comments #CEO & Cofounder, #CEO & Whole Time Director, #Inspektlabs, #Liberty General Insurance, #Mr. Devesh Trivedi, #Mr. Roopam Asthana

Mumbai: Liberty General Insurance has automated vehicle inspections for car insurance policy renewals and claim assessments using AI based technology. This is expected to transform the car inspection process, which is currently dominated by manual inspections – a people intensive job leading to delays in the claims and policy issuance process.

Under the AI-based inspection process, end-customers capture photos or videos of a car for policy renewals and claim assessment. These photos or videos are sent to the cloud and an automated inspection report, covering damage and claim assessment, gets generated within a few seconds. The automated process replaces humans in repetitive work at a very high accuracy level. It not only saves cost but also increases customer satisfaction by reducing the time required to settle a claim or renew a policy.

Speaking on the development, Mr. Roopam Asthana, CEO & Whole Time Director, Liberty General Insurance said, “We have been working with partners for almost two years now to automate our car inspection process. Through this partnership we have developed an efficient and elegant product, which will help us reduce cost and time required for motor inspections significantly. This capability will further enhance customer experience with lower turnaround on claims and renewals.”

Speaking on the partnership, Mr. Devesh Trivedi, CEO & Cofounder, Inspektlabs said, “We are grateful to Liberty General insurance and humbled by their continued faith in us. Globally insurers and automotive players spend billions of dollars on inspections. Inspektlabs’ patent pending technology allows insurance and automotive players to reduce the cost of inspection by 98% and reduce the time required for inspections by 95%. We are currently working with multiple companies in US, Japan and India to automate up to 75% car inspections using AI technology.”

The new product is already integrated with Liberty’s workflow, and is focused on automation of policy renewal approvals, and small & mid- sized motor claim estimation. The platform also constitutes several specialized features for fraud detection including detection of prior damages and hidden damages.

Over the last few years, Liberty has constantly endeavored to be a pioneer in terms of its consumer offerings. This has helped the company create a stream of highly targeted new products and AI-based tools and technology.

About Inspektlabs:

Inspektlabs, powered by Cvision.ai Analytics Pvt. Ltd., is a computer vision technology platform focused on automation of inspections for any physical asset. The company’s current focus is on automating car inspections for automotive and insurance players

About Liberty General Insurance:

Liberty General Insurance Ltd. (LGI) is a joint venture between Liberty Citystate holdings PTE Ltd—a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S. —Enam Securities, and Diamond Dealtrade. LGI commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of 1100+ with presence across 100+ locations in 29 states and UT. Its partner network consists of about 5100+ hospitals and more than 4300 auto service centres. The company offers health and personal accident insurance, car and two-wheeler insurance, employee compensation insurance, commercial insurance, fire and engineering insurance, marine insurance, and other miscellaneous insurance products in India.