MetLife Launches Second Startup Engagement Program, “collab 2.0”
August 16 2017 - 10:14PM
Business Wire
LumenLab, MetLife Asia’s Singapore-based innovation center,
today launched collab 2.0, its second startup engagement program
and is looking for startups that can help address MetLife’s problem
statements with innovative solutions. The overall winner will be
awarded a JPY 10 million contract* to pilot their solution at
MetLife Japan, MetLife’s largest business in Asia.
The launch of collab 2.0 follows MetLife’s successful inaugural
corporate start-up engagement program, collab, which attracted 139
worldwide applications from 34 countries. The winners from the
first cohort offered practical solutions that showed tangible value
and the potential to significantly augment the insurance
experience. Following the demo day in May, 2017 Uniphore was named
the overall winner, with two other outstanding startups, Democrance
and Flamingo, receiving the “Judge’s Selection” award.
“Engaging with the startup community through such platforms is
critical as we look to shape the future of the insurance industry
and redefine the way we interact with our customers. The winners of
our first cohort in collab came up with innovative and exciting
solutions which will be piloted in MetLife Asia. We’re excited to
see what collab 2.0 will deliver,” said Zia Zaman, LumenLab CEO and
Chief Innovation Officer of MetLife Asia.
Applications are now being sought for innovative solutions in
Customer Engagement, Sales, Backend Operations, and Frontend
Operations. Following the open global call for applications, a
rigorous selection process will determine the six finalist
start-ups that will proceed to the demo day in Tokyo, Japan on
December 8th, 2017 to present their solutions.
“Collaborating with startups differentiates us from our
competitors in Japan. LumenLab’s collab 2.0 is the perfect platform
on which to source innovative partners that gives our business an
edge as we strive to better serve our customers,” said Sachin N.
Shah, Chairman, President & CEO MetLife Japan.
MetLife has built a strong track record in being a first mover
in digital innovation. Launched in July 2015, LumenLab is focused
on developing disruptive new business models in the areas of
health, ageing, and wealth. It has supported the launch of 9 pilot
projects to market, reaching hundreds of thousands of people. Using
collab, LumenLab aims to further its collaboration with start-ups
and entrepreneurs to uncover breakthrough solutions to address real
business problems and better serve our customers.
To learn more and apply for collab 2.0, please visit:
collab.lumenlab.sg. The deadline for applications is October 1st,
2017.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates (“MetLife”), is one of the world’s leading financial
services companies, providing insurance, annuities, employee
benefits and asset management to help its individual and
institutional customers navigate their changing world. Founded in
1868, MetLife has operations in more than 40 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 MetLife Japan
MetLife started operations in 1973 as the first foreign life
insurance company in Japan. Since then, it has provided an
innovative and broad range of products through diverse distribution
channels to individual and institutional customers. It currently
operates as a Japanese corporation, MetLife Insurance K.K. MetLife
is committed to providing trusted navigation to help people become
more self-reliant and able to pursue more from life.
For more information, visit http://www.metlife.co.jp/.
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, symbolizes 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.
Factsheet on collab:
LumenLab Open Innovation Platform
1. Overview
- collab enables start-ups and
entrepreneurs to gain access to MetLife’s Asia ecosystem and key
business relationships to break through into new markets
- collab 2.0 is the second 8-week program
being run by LumenLab as part of the collab series
- collab 2.0 will select six start-ups
from the global open application process.
- Innovative solutions are being sought
in the areas of: Customer Engagement, Sales, Backend Operations,
and Frontend Operations
- All applicants will be evaluated
through a rigorous multi-phase selection process that assesses the
viability of their business plan, the merits and competitive
differentiation of their technology and the strength of their
teams
- Each start-up will have access to
resources and expertise from LumenLab and MetLife Japan, and will
be actively mentored and given training by MetLife executives
- The successful finalist will receive a
JPY 10 million contract* to implement a pilot within MetLife
Japan
2. Eligibility Criteria
- Applicants should not be an established
or well-known technology business in insurance
- Applicants should have, at a minimum, a
beta product to demonstrate and are prepared to share access to
program partners under a Non-Disclosure Agreement (and where
reasonable for no additional cost)
- If selected as one of the finalists,
applicants can attend the immersion week in Japan to present their
solution
- Applicants should demonstrate that
their solution addresses one of the challenges issued by MetLife
Japan
3. Key Dates
- 17 August 2017 Applications Open
- 1 October 2017 Deadline for
Application
- 10 October 2017 Announcement of
Selected Start-ups
- 8 December 2017 Demo Day and Prize
Presentation
4. Official Website
Interested parties may visit collab.lumenlab.sg to view the
problem briefs and submit their applications.
* This amount equates to approx..US$91,000 based on the FX rate
of 1USD:JPY109.89 as at 04Aug2017
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170816005455/en/
MetLife AsiaAshia RazzaqHead, Business Communication,
Asiaashia.razzaq@metlife.com
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