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Sagicor Innovation Challenge 2023
With advancements in modern technology, there is an increased shift from manual data entry towards a more efficient and effective means of data capture and processing. The problem of collecting unstructured customer data (handwriting, email/typed, voice, image) from service providers to be used in a structured way has been an issue plaguing the health and financial industry for many years. The ability to extract and analyze structured data is crucial for companies to gain insights into customer behaviour, identify trends, and make informed business decisions. This year's challenge is centred on solving the data capture and processing problem that affects Sagicor and other financial and health organizations.

The Sagicor Innovation Challenge invites teams to create innovative and scalable solutions that will convert unstructured data, process it and integrate with internal systems used by Sagicor and other institutions in their business processes and operations, while creating an ecosystem that connects service providers.

Winning Prizes:
1st Place   -  $500,000.00
2nd Place  -  $250,000.00
3rd Place   -  $100,000.00

Other Prizes:
Coach -  $100,000.00
Faculty - $100,000.00
Social Buzz - $50,000.00

Use Case:
The data capture and processing capability must capture data in the underwriting process where doctors and other medical professionals currently submit written medical records for patients to be processed as a part of their insurance policy applications. In creating this capability there is also the challenge of convincing potential users to move away from pen and paper methods towards paperless data capture methods.

Team Expectations:
  • The challenge requires teams to create innovative solutions that are scalable, address the use case provided, and address two other use cases identified by the team. 
  • Teams will also be required to turn unstructured data into structured data that Sagicor can use to inform business decisions within a four-month period if selected. 
  • Teams will be required to propose a business proposal that supports the profitability of their proposed company, in the sale of the data capture and processing capability to Sagicor and other financial institutions. 

This is a unique opportunity for students to showcase their skills and creativity while making a significant impact on the industry.

BEFORE COMPLETING THIS FORM:
Record and upload to YouTube a 1-3 minute introductory video. In this video, state your team name (eg. Technology Rebels), explain the problem you are solving, and describe the solution you will be creating. The video should be unlisted so that only persons with the link have viewing access. 

For Questions:
Email: utechinnovationlab@gmail.com

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