MetLife Announces 8 Finalists for “collab”
February 15 2017 - 9:00PM
Business Wire
Exceptional response with over 135 applications
from 34 countries received to compete for the chance to win a
US$100,000 contract
LumenLab, MetLife’s Singapore-based innovation center, today
announced that it has selected 8 finalists for its inaugural tech
matchmaking program, collab, an open innovation platform matching
startups with the right opportunities within MetLife.
collab, launched in November 2016, aims to provide a platform
for innovators to tackle the business needs of tomorrow and to work
on solutions to known challenges in the areas of customer
engagement, sales process, operations, and new business model.
collab attracted over 135 applications from 34 countries around
the world. Following a rigorous application review process, 8
start-up applicants have been selected to pitch their business
ideas to senior MetLife executives at the demo day on 19 May
2017.
Zia Zaman, LumenLab CEO and Chief Innovation Officer of MetLife
Asia said, “We’re delighted with the overwhelming response to our
program from around the world. The caliber and enthusiasm of the
start-ups who applied was truly impressive and it was a tough task
to select just 8 finalists. The companies we chose showed ingenuity
and brought fresh thinking to address the evolving needs of the
insurance customer. We’re excited to work together with them in the
coming months.”
The 8 start-up finalists are Capabiliti, Democrance, Digital
Fineprint, Flamingo, Good Parents, Shift Technology, Sureify and
Uniphore. The strong final line up showcases an exciting mix of
ideas and technological solutions ranging from artificial
intelligence (AI), predictive analytics, to wearables for kids.
Over the next 3 months, the finalists will receive tailored
mentoring and gain access to training from Oliver Wyman, PwC’s
venture hub in Singapore and Velocity (ACP Venture Capital’s
accelerator arm) on key topics such as B2B sales, insurance
industry idiosyncrasies and fundraising for enterprise startups.
Velocity will also work with our finalists to ensure their
readiness for further funding and will give preference to leading
funding rounds by investing up to US$500,000 in one or more of the
finalists. MetLife has also assigned over 35 “staff champions” to
assist the finalists, underscoring its commitment to talent
development as it promotes a culture of innovation in the
workplace.
Chris Townsend, President of MetLife Asia commented: “The sheer
number of applications for collab highlights the pace of innovation
and broad spectrum of digital technology options that are now
available. We recognize the importance of innovation and
collaboration, and we believe working with start-ups can help drive
greater value for our business and deliver a differentiated
experience for our customers.”
LumenLab will host the collab demo day on 19 May 2017 in
Singapore. The judging panel will comprise eight senior MetLife
executives from across the globe. The successful finalist will
receive a US$100,000 contract to implement a pilot within
MetLife.
For more information on collab and the 8 finalists, visit
http://collab.lumenlab.sg/#finalists
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates ("MetLife"), is one of the largest life insurance
companies in the world. Founded in 1868, MetLife is a global
provider of life insurance, annuities, employee benefits and asset
management. Serving approximately 100 million customers, MetLife
has operations in nearly 50 countries and holds leading market
positions in the United States, Japan, Latin America, Asia, Europe
and the Middle East. For more information, visit
www.metlife.com.
About LumenLab
As MetLife's pioneers for disruptive innovation, LumenLab is
charging ahead to create new businesses in health, wealth and
retirement. Lumen, a measure of light, symbolises our commitment to
illuminating a new path for solving the problems that the people of
Asia face today. Through our focus on building new products and
services grounded in technology and data, we aim to help people
achieve richer and more fulfilling lives. For more information,
visit www.lumenlab.sg.
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version on businesswire.com: http://www.businesswire.com/news/home/20170215005447/en/
MetLife AsiaAshia Razzaq, +852 2277 4172Head, Business
Communication, Asiaashia.razzaq@metlife.comorRHT Communications
& Investor RelationsRoger Poh, +65 9455
2690Directorroger.poh@rhtcir.com
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