Endor Wins MetLife Korea’s Innovation Program, Collab 5.0
June 13 2019 - 08:00PM
Business Wire
In addition to awarding Endor a USD 100,000
contract to pilot their solutions with MetLife Korea business, the
insurer plans to partner with four other innovative insurtech
startups.
MetLife Korea today announced Endor as the winner of its open
innovation program, collab 5.0. The Israel-based startup has won a
USD 100,000 contract to pilot their solution with the insurer,
which allows business users to answer predictive questions on the
same day without the need for data science expertise.
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Endor celebrates its collab 5.0 win with
MetLife Leaders (Photo: Business Wire)
In addition to Endor, MetLife Korea selected four other
finalists including Eda Communications, Fount, and MindsLab from
South Korea, and Gnowbe, from Singapore for special Judges
Awards.
Created by LumenLab, MetLife’s Asia innovation center, collab
5.0 invited insurtechs from around the globe to apply to pilot
their solutions with MetLife Korea.
The winners were among seven finalists to pitch their solutions
to a panel of senior MetLife executives at a ‘Demo Day’ in Seoul on
Thursday. In total 180 startups from 30 countries applied to the
program, including 51 from South Korea.
“MetLife Korea is looking forward to working with Endor and the
other four innovative startups. Their solutions have the potential
to offer tremendous benefits to our business and customers in
Korea,” said Young Rok Song, Senior Vice President and General
Manager, MetLife Korea.
“Innovation is a business imperative and external collaboration
forms a key component of MetLife’s efforts to transform the
insurance sector. Collab is about building partnerships that help
us innovate ahead of tomorrow’s challenges to have a greater impact
on those we serve,” said Zia Zaman, LumenLab’s Chief Executive
Officer and Chief Innovation Officer of MetLife Asia.
Collab 5.0 launched in February and follows four successful
collab programs, including two in Japan in 2017 and 2018, one in
MetLife’s Europe, Middle East and Africa region in 2018, and one in
Singapore in 2016.
Since its inception, collab has attracted 718 applications from
more than 60 countries and MetLife has awarded more than USD 1
million worth of contracts to develop value-generating solutions
for MetLife’s business and customers.
For more information on collab 5.0 and the seven finalists,
visit: http://collab.lumenlab.sg/
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 in Asia,
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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version on businesswire.com: https://www.businesswire.com/news/home/20190613005728/en/
MetLife Asia:Yvette Marmur, +852 5716
8533ymarmur@metlife.comMetLife Korea:Eunyoung Jung + 822
3469 9530ejung4@metlife.com
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