Collab Winners Are ‘Building a Long-Term Relationship’ with MetLife

  Collab Winners Are ‘Building a Long-Term Relationship’ with MetLife

Business Wire

HONG KONG -- April 16, 2018

Insurtech start-ups competing to win a US$100,000 contract to develop and
pilot solutions with MetLife EMEA can look forward to “building a long-term
relationship” focused on helping innovation to succeed, previous winners of
the insurance giant’s collab programmes say.

A large number of insurtechs and entrepreneurs have already applied for
“collab 3.0 EMEA”, a global open innovation platform inviting participants to
scale their business with MetLife while solving some of the insurer’s biggest
challenges across its business in Europe, the Middle East and Africa.

Startups can still apply up until close on 20 April, 2018 at the collab
website  for the opportunity to develop solutions in areas such as customer
engagement, sales, and operations, and to pilot these solutions with MetLife
EMEA.

Created by LumenLab, MetLife Asia’s innovation center, collab 3.0 EMEA builds
on the success of two previous collab programmes for MetLife Asia (collab 1.0)
and MetLife Japan (collab 2.0), which have awarded US$600,000 in equity-free
contracts to startup finalists.

Previous collab winners have focused on areas including operations
optimisation, product pricing, customer engagement, digital distribution, and
claims analysis.

Klaas Stijnen, CEO of Montoux, one of the collab 2.0’s winners, which has
already started to pilot its solutions in product pricing optimisation with
MetLife Japan, advises entrants to be transparent about the advantages and
disadvantages of their solution when applying and to be prepared for high
calibre engagement if they are selected for the programme.

Following a rigorous selection process, MetLife will determine eight finalists
and pair them with MetLife EMEA employee champions to help finalists hone
their pitch and improve problem-solution fit.

“You are building a long-term relationship, so take your time to explain and
ask questions and ensure communication is clear. Have patience and ask for
advice from MetLife’s employee champions and LumenLab’s collab team on your
pitch. That process is a great help to get your value proposition right.”

“Winning collab was a far easier way of entering a new market than the
traditional route and a key advantage was the level of support from different
layers and geographies within MetLife to make innovation succeed,” Klaas
Stijnen, CEO of Montoux.

The eight finalists will be invited to attend the collab Summit EMEA and Demo
Day in London on 11-12 July 2018 to present their solutions where the ultimate
winner will be announced.

To learn more and apply for collab 3.0 EMEA, please visit: 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, 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

View source version on businesswire.com:
https://www.businesswire.com/news/home/20180416006621/en/

Contact:

MetLife, Inc.
Europe:
Jo Riddell, +44(0)7557286265
jriddell@metlife.com
or
Jonathan Bunn, +44 (0) 7557 161018
jbunn@metlife.com
or
Asia
Yvette Marmur, +852 5716 8533
ymarmur@metlife.com
Press spacebar to pause and continue. Press esc to stop.