MetLife selects eight finalists for open innovation program, collab 3.0 EMEA
May 10 2018 - 9:01AM
Business Wire
Record response with 148 applications from 32
countries competing for the chance to win a contract with
MetLife
MetLife today announced eight finalists for its open innovation
program, collab 3.0 EMEA. Run by LumenLab, MetLife Asia’s
Singapore-based innovation center, in collaboration with MetLife’s
Europe, Middle East and Africa (EMEA) region, the program invites
insurtech innovators to compete for a USD 100,000 contract with
MetLife to develop new solutions across the insurance value chain
in areas including customer engagement, sales, and operations. The
winner will get to pilot their solution with MetLife in EMEA.
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Since launching in March, collab 3.0 EMEA has attracted a record number of applications -
148 from 32 countries around the world. The eight finalists will
hone their ideas over the next two months before pitching them to
senior MetLife executives this July in London. To help the
finalists develop their solutions and enhance their understanding
of MetLife’s business, they will be paired with “employee
champions” who will provide tailored mentoring, underscoring the
company’s commitment to talent development and promoting a culture
of innovation.
The eight finalists:
DataRobot (United States) offers an automated machine-learning
platform and services that help enterprises make accurate
predictions from big data and draw actionable insight in a fraction
of the time required by conventional data science tools and
methods.
Anorak (United Kingdom) is a smart life insurance advice
platform that leverages multiple data sources and machine learning
to provide customers unbiased and tailored recommendations on
getting the right life insurance policy.
Lucep (Singapore) is an omni-channel engagement system that
generates leads from digital channels and directs them to the best
agents available to respond to the call, providing the agent with
analytics and data on the prospect to help them convert them to a
customer.
Kasko (United Kingdom) offers an end-to-end cloud based
insurance platform that enables insurers to create, launch, run and
optimise digital insurance products in any distribution channel
quickly, cost-effectively and flexibly.
Eltropy (United States) empowers financial firms to engage
clients across messaging apps like SMS, iMessage, WhatsApp, Line,
WeChat, Facebook Messenger - to grow revenue rapidly.
The ID Co. (United Kingdom) offers customers a frictionless user
verification experience during the on-boarding process by using
Open Banking data and identity verification.
TrustSphere (Singapore) uses relationship analytics technology
to leverage employee relationship networks in an organization by
automatically analyzing only the metadata from employees’ digital
interactions.
CUBE (United Kingdom) provides an automated approach to monitor,
detect, and analyse global regulatory changes and helps firms to
understand the impact of these changes on policy and procedures
across all lines of business.
“The Insurtech landscape is rapidly evolving and we are excited
to see collab attracting a high caliber of entrants as it goes
global. The innovative finalists we chose bring fresh thinking to
address the rising expectations of insurance customers. We are
excited to work together with them in the coming months,” said Zia
Zaman, LumenLab’s chief executive officer and chief innovation
officer, MetLife Asia.
Michel Khalaf, President of MetLife’s U.S. Business and EMEA
commented, “The strong finalist line up showcases an exciting mix
of ideas and technological solutions that can help drive greater
value for our business and deliver a differentiated experience for
our customers. Our employee champions will offer crucial support,
insight, and guidance as our finalists seek to develop their
solutions and pitches.”
This is the third collab program that LumenLab has launched for
MetLife. To date, MetLife has awarded more than half a million U.S.
dollars’ worth of contracts through collab in Asia that have helped
develop practical solutions that deliver value to MetLife’s
business and customers.
For more information on collab 3.0 EMEA and the eight finalists,
visit: http://collab.lumenlab.sg/
About MetLife
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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180510005688/en/
MetLife EMEA:Jo Riddell,
+44(0)7557286265jriddell@metlife.comorJonathan Bunn, +44 (0) 7557
161018jbunn@metlife.comorMetLife AsiaYvette Marmur, +852
5716 8533ymarmur@metlife.com
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