MetLife Launches “Collab”: The Insurance Tech Accelerator
“Collab is first-and-foremost a market place for start-ups to meet, share ideas and build solutions. Our goal is to tackle the real problems facing our customers and leverage technology to drive business efficiency. As the speed of innovation increases and disruptions become the norm, we are excited to tackle these challenges together with the help of the start-up community,” said
The program is now open for applications and is calling for innovative solutions in customer engagement, claims process, insurance business model and the sales process. In addition to
“At MetLife, we are focused on reshaping the way we do business and the way in which we engage with our customers. We’re one of the leaders in our industry to invest in innovation through digital and technology and we see Collab as a natural extension. This is a great opportunity for dynamic start-ups to bring to scale original and ground-breaking ideas that challenge the old style insurance business ways and play a part in moving the industry in to the new digital era,” said
Those interested can learn more and apply at collab.lumenlab.sg. Applications deadline is
About
About LumenLab
As
Factsheet on Collab: LumenLab Open Innovation Platform
1. Overview
- Collab is an open innovation platform that aims to identify innovative solutions to known challenges in the following areas: customer engagement, claims process, insurance business model and the sales process
- Collab enables start-ups and entrepreneurs to gain access to MetLife’s
Asia ecosystem and key business relationships to break through into new markets - Collab will select eight start-ups from the global open application process
- All applicants will be evaluated through a rigorous multi-phase selection process that assesses the viability of their business plan, the merits and competitive differentiation of their technology, the strength of their teams and their alignment with MetLife’s strategic focus
- Each start-up will have access to resources and expertise from LumenLab and
MetLife , and will be actively mentored and given training byMetLife executives as well as co-sponsors who include amazon web services, Microsoft BizSpark,Wavemaker Partners andOliver Wyman - The successful finalist will receive a
US$100,000 contract to implement a pilot withinMetLife
2. Eligibility Criteria
- Applicants should not be an established or well-known technology business in insurance
- Applicants should have, at a minimum, a beta product to demonstrate and are prepared to share access to program partners under a Non-Disclosure Agreement (and where reasonable for no additional cost)
- If selected as one of the finalists, applicants can attend the one week of immersive session at LumenLab in
Singapore to present their solution - Applicants should demonstrate that their solution addresses one of the challenges issued by MetLife Asia
3. Key Dates
-
14 November 2016 Applications Open -
29 January 2017 Deadline for Application -
17 February 2017 Announcement of Selected Start-ups -
19 May 2017 Demo Day and Prize Presentation
4. Official Website
Interested applicants may visit collab.lumenlab.sg to view the problem briefs and apply for Collab.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161113005063/en/
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