MetLife Recognized in Forbes’ Inaugural Blockchain 50 List
April 29 2019 - 4:34AM
Business Wire
List highlights companies that are embracing
technology to drive business success
MetLife has been named in Forbes’ inaugural Blockchain 50 List,
the first-ever ranking of the top 50 organizations that are leading
the pack in regard to adapting decentralized ledgers to their
business.
MetLife was recognized for its Vitana experiment, which was
launched in Singapore last August by LumenLab, MetLife’s Asia
innovation center. Vitana is the world’s first, automated insurance
solution using blockchain technology to offer pregnant women
financial protection in case of gestational diabetes– a condition
affecting up to one in five expectant mothers in Singapore.
Vitana securely connects to customers’ electronic medical
records via their mobile device to issue a policy within minutes.
If the customer’s doctor records a positive diagnosis in her
medical records, Vitana will trigger an automatic payout, without
the customer needing to make a claim.
“We saw an opportunity to test how blockchain can make insurance
more seamless for customers and we’re delighted to receive this
recognition from Forbes and to be considered a global leader in
blockchain,” said Zia Zaman, MetLife’s Chief Innovation Officer in
Asia and Chief Executive Officer of LumenLab.
Vitana was developed within the Monetary Authority of
Singapore’s (MAS) regulatory sandbox, together with
partners: SwissRe, which helped drive product design
and reinsure the risk; Cognizant, which provided the
underlying technology and blockchain expertise; and Vault
Dragon, an electronic medical records provider which supported
on-the-ground implementation with forward-thinking doctors and
clinics.
For additional information about the 2019 Blockchain 50 List,
please visit: Blockchain’s Billion Dollar Babies
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 http://www.lumenlab.sg
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Yvette Marmur (Asia): +852 5716-8533 or ymarmur@metlife.com
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