Alternative Thinking

If you too want to make sustainable choices but can’t find eco-friendly alternatives, you are not alone. Evidence suggests Indian consumers are conscious of their actions and are seeking alternatives to reduce their environmental impact. However, the biggest barrier to a sustainable lifestyle lies in the lack of available alternatives that are sustainable, viable and affordable.

According to the Mahindra Group’s inaugural ‘Alternativism’ report, 4 out of 5 (80%) respondents are aware of the impact of plastic and waste management on climate change, while 88% of respondents believe
eco-friendly alternatives are either too expensive or not effective, which prevents them from being more environmentally considerate.

Urging businesses to start thinking differently and assume responsibility for tackling environmental impact, Anand Mahindra, Chairman, Mahindra Group, said, “We think that climate change is this century’s biggest business opportunity. Our basic philosophy is that a business must create shared value by doing good and doing well at the same time. We intend to create shared value by committing to the battle against climate change and by embracing the business opportunities that arise from it. It is time for action. Business cannot be divorced from the consequences of climate change in the world we share and the people we love.”

Rather than relying on existing business models and approaches, true sustainability can only be achieved through unconventional thinking with respect to lifestyle, business models, production, and infrastructure. With
89% of respondents believing that they would address climate change more actively if companies offered alternative solutions, it is time for businesses to start thinking differently and explore, experiment, and test to develop sustainable, innovative alternatives.

This ‘Alternativism’ is the Mahindra Group’s mantra to involve corporate India in the larger effort to build sustainable businesses and encourage the transition to sustainable lifestyles. By proactively aligning business operations to the exponentially rising social and environmental demands, and new economic opportunities, this Alternative Thinking has become the Mahindra Group’s strategic approach towards integrating sustainability into their businesses.

Click here to see why there is an urgent need for greener products and solutions.

Bringing AI to Life (Insurance)

Tech Mahindra is collaborating with Atidot, an Israel-based InsurTech firm that offers predictive analytics, Artificial Intelligence (AI) and Machine Learning (ML) tools to life insurance companies.

By using AI to gather deeper data insights, Atidot focusses on increased personalization, and greater speed and efficiency of services to meet changing customer needs. This partnership will provide a platform to increase profitability for insurance companies by predicting customer behavior, lapse patterns and improve their
cross-sell as well as upsell capabilities. The solution will also benefit policyholders by offering them more appropriate policies that have better coverage, as well as, help protect their retirement savings.

Today, insurance companies are keen to leverage the vast data across the insurance enterprise to understand their customers better in terms of their needs and preferences to be able to offer personalized products and services, in addition to improving business process efficiency.

According to a survey by Accenture, 68% of insurers are already using chatbots in various segments of their businesses. In the future, this AI-based customer engagement will further increase. By 2030, chatbots will be the primary touchpoint for most insurance customers, with 70% to 90% fewer human personnel engaging with customers than in 2018, states a report by McKinsey.

Gautam Bhasin, Global Head - Banking, Financial Services and Insurance (BFSI), Tech Mahindra, said, “Tech Mahindra’s collaboration with Atidot will help deliver innovative, cutting-edge solutions to the global insurance industry in Big Data and Analytics, powered by insurance specific artificial intelligence and machine language capabilities.”

Designing To Disrupt

After months of immersive case studies, extensive research, and out-of-the-box thinking that was aimed at developing solutions to real-world business challenges and emerging opportunities, the final round of the Mahindra War Room became the perfect battleground for an intellectual face-off among 11 teams from premier
B-schools across India fighting to become the 2019 champions.

The Mahindra War Room is the most prestigious B-School competition in India that was conceptualized in 2008 to connect young minds from premier business schools with the Mahindra brand. Over the years, it has evolved as one of the finest platforms for engaging the best thinkers from premier institutes to develop solutions to real-world business issues and emerging opportunities.

With the theme ‘Design to Disrupt’, the Mahindra War Room 2019 was launched in July this year across 22 Indian B-schools and 5 B-schools abroad. Mahindra Group’s top business leaders prepared live cases of the challenges they face in their respective businesses. The cases were then launched into the selected business schools in India. For the next few weeks, these budding managers poured over the issues, conducted extensive research, and used their talent to seek workable solutions to these strategic challenges.

From over 2,000 initial entries, the top 11 teams presented their cases to the grand jury comprising Sangeeta Prasad, MD & CEO, Mahindra Lifespaces; V.S. Parthasarathy, Group CFO and Group CIO; Rajeev Dubey, Group President (HR & Corporate Services) & CEO (After-Market Sector); Anand Mahindra, Chairman, Mahindra Group; Anish Shah, Group President, Strategy and S.P. Shukla, Group President & CEO, Aerospace and Defence Sectors; during the Grand Finale in Mumbai on November 12, 2019.

The students also seized the opportunity to meet, interact and discuss pertinent issues with the top management through this forum. After a day of great ideas, and constructive feedback, the grand jury made their pick.

With their idea of ‘disrupting Mahindra Lifespaces through technology’, Vigorous Vikings from IIFT Delhi were declared as winners of the Mahindra War Room 2019. Apart from the coveted champions title, they also took home Rs 10 lakh, an experiential Club Mahindra package, an all-expenses-paid trip to watch the Formula E Race live and a pre-placement interview with the Mahindra Group.

The case on ‘disrupting Club Mahindra by introducing inexpensive luxurious vacations’ was presented by Team Backspace from IMT Ghaziabad and they won the 1st Runners-up position coupled with Rs 5 lakh prize money, an experiential Club Mahindra package, and a pre-placement interview with the Mahindra Group.

The 2nd Runner-up position was shared by teams - Golden Eagles from Yonsei University, South Korea and Team Upper Cut from IIM Shillong. They presented innovative ideas on ‘disrupting the realty industry’ and ‘disrupting the aftermarket sector by designing an electric future’ respectively.

TriNation Escape

Airplanes are great, they’ve made the world a lot smaller. But there’s nothing comparable to crossing borders by land. Truly an adventure of a lifetime, the TriNation Escape is an epic 3,000 km overland expedition that winds its way through three countries; India, Nepal and Bhutan.

Led by the Mahindra Adventures team, adventure seekers will set out on a 12-day expedition that begins in Lucknow on November 16 and culminates in Siliguri on November 26. The convoy of 33 Mahindra SUVs will motor their way through soaring mountain passes, quaint hill side villages, bustling cities, and ancient capitals steeped in history through the challenging terrain of Nepal and Bhutan, blending adventure and culture in a heady and memorable cocktail.

Bijoy Kumar Y, Chief of Adventures, Mahindra & Mahindra Ltd., said, “Borders at the end of the day are nothing more than lines on a map. They don’t have to be barriers. Far from it, they can instead serve as gateways, enabling us to discover whole new cultures. Rather than

push people apart they can in fact unite us in our curiosity about different places, peoples and ways of life. Through the TriNation Escape, we want to demonstrate that borders can exist without boundaries all while packing the dose of adventure that our expeditions have come to be known for.”

As we visualize the rugged Mahindra SUVs crossing picturesque international borders, exploring new places on muddy four-wheels, and breaking down cultural stereotypes, it is not difficult to imagine the car stereos playing the perfect John Lennon song for the drive;

‘…You may say that I'm a dreamer
But I'm not the only one
I hope someday you'll join us
And the world will live as one.’

  Tweet of the Week

Mahindra Rise

One child. One astronaut. One problem. Watch to find out more! #HappyChildrensDay #ChildrensDay2019 #NurtureYourCuriosity

Read the Tweet

Share news, views and feedback with [email protected]