Nine Tech Startups Vie for Partnerships & Scale in MetLife’s Intensive 13-week Business ‘Boot Camp’
July 15 2019 - 6:00AM
Business Wire
New 8,700 square-foot ‘met.X’ tech incubator in
Research Triangle to host 2nd class of the MetLife Digital
Accelerator powered by Techstars®
MetLife today announced its second class of nine companies
selected to participate in the MetLife Digital Accelerator powered
by Techstars®. Based in the newly built met.X incubator on
MetLife’s Global Technology Campus in Cary, North Carolina, the
accelerator connects startups with MetLife leaders and Techstars
mentors for an intensive 13-week program focused on fast-tracking
technologies with the potential to transform the insurance
industry.
“When we bring in these startups, our goal is to spot the
possibilities in every disruption,” said MetLife Chief Digital
Officer Greg Baxter. “If a solution can improve our customer
experience and tackle real business challenges or opportunities, we
then look to supersize it. The result is a positive collision of
industrial scale and innovation speed. And for a company like
MetLife, scale matters, as it's a key differentiator for us.”
On Oct. 10, 2019, the startups will formally present their ideas
to MetLife and other potential investors during a ‘Demo Day’ event.
The 2019 class members were chosen based on their potential to
deliver solutions that center on: Customers, such as solutions for
those in the gig or sharing economies; Products, such as new
approaches to deliver employee benefits or experiences that will
support the financial, emotional or physical health of customers;
and Process, such as new ways to underwrite and manage risk or
accelerate integration across industry partners.
The nine startups and what they hope to deliver are:
- BlockClaim (London, UK): Empowers insurers to settle
claims in as little as 24 hours by providing data driven
insights.
- Bonbouton (New York, NY): Is a smart insole that detects
foot ulcers, a common cause of diabetes-related amputations.
- The Difference (New York): Provides on-demand therapy
via phone or smart speaker.
- Lazarus (Cambridge, MA): Uses historical patient health
data and machine learning to help predict the early onset of
cancer.
- Omni Fund (San Francisco, CA): Uses smart contracts to
create autonomous insurances that run with nearly zero
overhead.
- Slighter (Dover, DE): Is a smart cigarette lighter that
tracks smoking habits and trains users to reduce gradually until
they quit.
- Slope Software (Atlanta, GA): Helps actuaries build and
analyze complex financial models in a fraction of the time using
only a web browser.
- Smiletronix (Barcelona, Spain): Completes a dental
health scan anytime, anywhere in under a minute with their personal
handheld device.
- Zogo Finance (Durham, NC): Pays kids to learn personal
finance by partnering with financial institutions.
Visit MetLife’s YouTube channel to learn more about the program
and watch a “Day in the Life” video with 2018 participants, a full
list of which can be found here. MetLife is now pursuing pilots
with eight of the 10 companies from 2018, with six tests already in
flight.
The accelerator program – which holds open applications each
January – is part of MetLife’s digital transformation that combines
artificial intelligence, robotics and automation, and advanced data
analytics with:
- Relationships with 18 venture capital firms, partnerships with
leading technology companies, and collaborations with universities
such as Carnegie Mellon, the University of North Carolina at Chapel
Hill and the MIT Media Lab.
- Investment of up to $100 million through MetLife Digital
Ventures to accelerate partnerships with strategically aligned
startup companies.
- MetLife’s ‘Ignition’ program, an annual one-day innovation hunt
in which 15 to 20 tech startups ‘speed date’ more than 200 MetLife
business leaders.
- LumenLab, MetLife’s Singapore-based business incubator that
focuses on innovation in wellness, wealth and retirement.
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 Techstars
Techstars is the worldwide network that helps entrepreneurs
succeed. Techstars founders connect with other entrepreneurs,
experts, mentors, alumni, investors, community leaders, and
corporations to grow their companies. Techstars operates three
divisions: Techstars Startup Programs, Techstars Mentorship-Driven
Accelerator Programs, and Techstars Corporate Innovation
Partnerships. Techstars accelerator portfolio includes more than
1,700 companies with a market cap of $22 Billion.
www.techstars.com
Forward-Looking Statements
This news release may contain or refer to forward-looking
statements. Forward-looking statements give expectations or
forecasts of the future using terms such as “anticipate,”
“estimate,” “expect,” “project,” “intend,” “plan,” “believe,”
“will,” “potential,” “look to,” and other terms tied to future
periods. Results could differ materially from those expressed or
implied in the forward-looking statements. Forward-looking
statements are based on assumptions and expectations. They involve
risks and uncertainties, including the “Risk Factors” MetLife, Inc.
describes in its U.S. Securities and Exchange Commission filings.
The company has no obligation to correct or update any
forward-looking statement. Parts of this news release may include
additional information on forward-looking statements. This news
release may also contain measures that are not calculated based on
accounting principles generally accepted in the United States of
America, or GAAP.
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version on businesswire.com: https://www.businesswire.com/news/home/20190715005154/en/
Sean Gannon MetLife (212) 578-4958 Sean.Gannon@metlife.com
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