To offer digital solutions that provide a differentiated consumer experience and disrupt the market, Metlife Inc (NYSE:MET), one of the world’s major insurance companies, reported the release of two InsurTech investment plans for start-up firms: MetLife Digital Accelerator and MetLife Digital Ventures powered by Techstars. These programs will be offered under MetLife’s Chief Digital Office.
Marty Lippert, the EVP and Head of company’s Global Technology & Operations, expressed that the increase of globalization, a strong growth in technology and changing consumer demographics are factors impacting all markets. MetLife is offering on a plan intended at capturing this prospect. The MetLife Digital Accelerator and MetLife Digital Ventures powered by Techstars are instances of their strategic partnership approach to encouraging a culture of innovation and offering an entrepreneurial lens to stand across the insurance value chain. The associations offer MetLife first-mover benefit in capitalizing on and identifying emerging technology and consumer trends.
Supported by a co-investment fund, MetLife Digital Ventures boosts MetLife’s transformation via direct investment in well aligned start-up firms that can offer new forms of value to company’s clients. Through direct investment, the company will have a chance to influence the flow of these early stage firms that offer capabilities and products that are strategically vital to the organization.
The release of MetLife Digital Ventures offers to the next level company’s existing strong associations with 16 of the major venture capital companies. These long-established associations continue to offer MetLife distinct access to a portfolio of leading investment opportunities.
David Brown, the Co-CEO and Founder of Techstars, expressed that theirs is the global network that prevails to assist entrepreneurs succeed, and their association with MetLife advances their ability to perform exactly that. The InsurTech startups chosen for this program will establish deep connections with company’s industry experts, growing and advancing their businesses faster.