MetLife looks to partner with 16 startups through new event

MetLife is hosting its firth ‘ignition’ summit where it will explore potential partnerships with 16 startups.

The aim is to find emerging digital capabilities which can boost the insurance industry. There will be 16 companies brought to the MeLife New York headquarters along with 200 of its own business, operations and tech leaders.

Each company will be given a 30-minute session to present the value they could provide MetLife through a partnership – the over-arching theme is “Strengthening Connections in a Digital World.”

Startups will present under one of four themes. Three of these target connections with existing customers, future companies, or colleagues and partners. The final theme is around confidence and how a digital solution could manage risk while promoting business growth.

A potential reward for successful startups is an investment of up to $100m through the MetLife Digital Ventures fund.

Other advantages of the ecosystem include close relations with 18 venture capital firms, the MetLife Digital Accelerator, and close work with other startups.

Solutions from this batch of 16 startups span AI, data security software, data mining, governance solutions, sales platforms, apps for customer interaction during life-changing events, data analytics to answer real-time customer questions, virtual platforms to coordinate health treatments, tools to optimize an organization’s internal performance metrics, and employee onboarding and career development platforms.,

MetLife chief digital officer Greg Baxter said, “Digital experiences are embedded in every aspect of how MetLife conducts business globally.

“As technology advances at an exponential rate, we’re not only committed to keeping pace with that acceleration but doing it while simultaneously ensuring interactions remain extremely personal. Ignition 2019 looks to reinforce the critically important human aspect of our connections with customers, partners and colleagues.”

Just under 60 startups have participated in the events since they began in 2014. From these, 20 proof of concepts and 10 contracts with startups have spawned.

Copyright © 2019 FinTech Global

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