MetLife Accelerates Transformation with Launch of Digital Ventures and Digital Accelerator
January 08 2018 - 7:30AM
Business Wire
To deliver digital solutions that offer a differentiated
customer experience and disrupt the industry, today MetLife, Inc.
(NYSE:MET), one of the world’s leading insurance companies,
announced the launch of two InsurTech investment programs for
start-up companies: MetLife Digital Ventures and MetLife
Digital Accelerator powered by Techstars. Both programs will be
led under the umbrella of MetLife’s Chief Digital Office.
“The rise of globalization, changing consumer demographics and
an exponential growth in technology are factors impacting all
industries,” said Marty Lippert, executive vice president and head
of MetLife Global Technology & Operations. “MetLife is
delivering on a strategy aimed at capturing this opportunity.
MetLife Digital Ventures and the MetLife Digital Accelerator
powered by Techstars are two examples of our strategic partnership
approach to promoting a culture of innovation and bringing an
entrepreneurial lens to bear across the insurance value chain.
These partnerships provide MetLife first-mover advantage in
identifying and capitalizing on emerging consumer and technology
trends.”
Backed by a $100 million co-investment fund, MetLife Digital
Ventures accelerates MetLife’s transformation through direct
investment in strategically aligned start-up companies that can
bring new forms of value to MetLife’s customers. Through direct
investment, MetLife will have an opportunity to influence the
direction of these early stage companies that offer products and
capabilities that are strategically important to the organization.
The launch of MetLife Digital Ventures brings to the next level
MetLife’s existing strong relationships with 16 of the leading
venture capital firms. These long-established relationships
continue to provide MetLife unique access to a portfolio of
top-tier investment opportunities.
The MetLife Digital Accelerator powered by Techstars is a
first-of-its-kind program that identifies and mentors startups
around the globe that are developing industry-disrupting
technologies in the insurance space. Startups selected will be
hosted at MetLife’s Global Technology Campus in Cary, North
Carolina, for an intensive 13-week program focused on the
development and acceleration of transformational ideas.
Applications are now open for the first MetLife Digital Accelerator
class. Start-ups may apply at Techstars.com/apply.
“Techstars is the worldwide network that exists to help
entrepreneurs succeed, and our relationship with MetLife, an
insurance powerhouse, advances our ability to do exactly that,”
said David Brown, founder and co-CEO of Techstars. “The
InsurTech startups selected for this program will create deep
connections with MetLife's industry experts, advancing and growing
their businesses faster."
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 Tech Stars:
Techstars is the worldwide network that helps entrepreneurs
succeed. Techstars founders connect with other entrepreneurs,
experts, mentors, alumni, investors, community leaders, and
corporations to grow their companies. Techstars operates four
divisions: Techstars Startup Programs, Techstars Mentorship-Driven
Accelerator Programs, Techstars Corporate Innovation Partnerships,
and the Techstars Venture Capital Fund. www.techstars.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180108005502/en/
MetLifeTony Varnon,
212-578-8188tvarnon@metlife.comorTechstarsJoanie Kindblade,
303-562-6230Joanie.Kindblade@techstars.com
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