MetLife Wins Model Insurer Asia Award 2017 for “Innovation and Emerging Technologies”
May 22 2017 - 9:00PM
Business Wire
MetLife, Inc. (NYSE: MET) announced that LumenLab, its Singapore
based innovation center has won Celent’s Model Insurer Asia 2017 in
the category of “Innovation and Emerging Technologies” at an awards
event held today in Singapore.
Established in 2015, LumenLab is MetLife’s global innovation
center focused on digital disruption based on customer insights. In
the category of “Innovation and Emerging Technologies”, LumenLab is
recognised for the development and application of new technologies
and for generating new business models. LumenLab has incubated 12
projects spanning technologies such as artificial intelligence,
blockchain, and virtual reality. In addition, LumenLab underscores
MetLife’s commitment to embedding an innovation culture and
supporting ideas that culminate in a better customer experience.
Over 400 MetLife employees have taken part in workshops, bootcamps
and leadership programs to “test and learn” and fast track delivery
of solutions that will better meet the needs of the customer.
“MetLife is delighted to be recognized as a leader in Innovation
in our industry” said Zia Zaman, LumenLab CEO and Chief Innovation
Officer of MetLife Asia. “There is so much opportunity to benefit
customers across Asia by reimagining insurance. Shifting the
mindset of the industry to innovate more is essential. We would
like to thank the panel of judges and Celent for encouraging
innovation and for recognizing LumenLab.”
Hosted by Celent, a global research and consulting firm focused
on the application of information technology in the financial
services industry, the annual Model Insurer Award recognizes
insurance firms that effectively utilize technology as a means to
foster investment in innovation. Model Insurer is awarded for best
practices of technology usage in different areas critical to
success in insurance, and is the main award an insurer can win from
Celent. Nominations are submitted by insurance companies and
technology vendors, and undergo a rigorous evaluation process.
Submissions are evaluated on three criteria: demonstrable business
benefits; degree of innovation; technology or implementation
excellence.
The award for Innovation and Emerging Technologies recognizes
projects such as the expansion into previously untapped markets due
to technology; the use of technologies not previously used in the
insurance industry; or the development of an innovation culture
within an IT organization. This category also includes Insurtech
initiatives which are rapidly expanding development and application
of new technologies and operating models with the aim to
fundamentally change current business models, financial models,
and/or industry ecosystem.
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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MetLife, Inc.Ashia Razzaq, +852-2277-4172Head of Business
Communications, Asiaashia.razzaq@metlife.com
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