Why are auto insurance companies so keen on a Rs 3,000 crore project to build India’s first 3D printed life insurance?
IANS By Anupam BehariaAIMS India-based insurance company AIMS has announced a Rs3,000-crore investment to develop a 3D-printed life insurance product in India.
The company, which has already been investing in 3D printing of life insurance, has also approached the central government for financial assistance for the project.
It is aiming to start a production of life insurers in 2021, with the company hoping to manufacture around 500 units.
The 3D printer has already taken shape in the city of Kolkata, and the project is part of a push by AIMT to become the global leader in 3-D printing, according to the company.
India is one of the fastest-growing countries for printing 3-Ds, and there are plans to use the technology to create 3-dimensional printers in future, which could also provide the same benefits as a printed product.
“Our aim is to develop 3D printers for life insurance in the near future.
In the near term, we plan to launch a life insurance business in the country in 2021 and to expand our production to 2,000 to 2.5,000 units by 2022,” AIM Suresh, CEO and founder of AIMs India said.”
We are in a race to make 3D prints the best 3-d printing in the world.
We are in it for the long haul,” he added.
In September, the US-based company, founded by entrepreneur Joe Lubin, unveiled its latest iteration of the AIMA 3D scanner, which can print 3D models of 3D objects, such as buildings, cars and even people.