MetLife has launched an innovation challenge for InsurTech stratups, with the winner receiving a $100,000 contract.
The firm is offering entrepreneurs and InsurTechs with a chance to scale with MetLife is they can solve its innovation challenges for the Europe, Middle East and Africa markets.
collab 3.0 EMEA will provide $100,000 to support the development of solutions across insurance value chains in areas like customer engagement, sales, and operations and piloting the technology with MetLife EMEA.
MetLife will determine eight finalists and pair them with MetLife EMEA employee champions to help develop the solutions. Each finalist will be invited to the Summit EMEA and Demo Day in London on 11th and 12th July, where they will present their products.
MetLife EMEA and US regions president Michel Khalaf said, ?MetLife continues to be at the forefront of innovation and collab 3.0 EMEA is a great example of this. We are matching real business challenges from across our global enterprise with external ideas to build the best solutions for our business and customers. Crucially, our employee champions will support and collaborate with the finalists throughout the process,p>
This is the third collab programme, with its previous being Japan last year, and Singapore in 2016. Previous challenges have attracted 250 InsurTech applications from over 35 different countries. Across both of the collab programmes, MetLife has awarded over $500,000 in total to help scale the platforms.
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