The Tata group is in talks to acquire a majority stake in online pharmacy 1mg. The deal, if goes through, could intensify the battle in India’s e-pharmacy sector, as Tata, Reliance and Amazon are battling for a piece of pie. In Aug, Reliance Retail acquired a 60% stake in the parent company of Netmeds. Amazon also rolled out prescription drug delivery service in Bengaluru in partnership with Cloudtail. 1mg, as per reports, has been in talks to raise around $100 mn.
Bajaj Allianz General Insurance splits technology uses cases into 3 outcomes – top-line, bottom-line, enhanced customer experience. Henceforth, AI investments for short-term (3-6 months ROI), long term are made. Analysing claims documents, an automated engine eases insurance underwriting. Online healthcare firm, 1mg, considering the busy schedule of doctors, developed AI-based tool that collects info on the doctor’s behalf, increasing hospitals’ performance 3X.