MetLife has said that the winner of its insurtech collaboration programme can expect ‘long-term partnerships’, along with the $100,000 development contract.
‘collab 3.0 EMEA’ is a global open innovation platform that invites insurtech startups to grow their businesses with MetLife’s guidance, as well as helping to solve some of MetLife’s biggest challenges in Europe, the Middle East and Africa. Startups have until 20 April to apply.
This is the third time that MetLife has run the scheme, alongside its innovation centre LumenLab. The other two collaborative projects have centred on the Asian market, with 1.0 being run by Metlife Asia and 2.0 by MetLife Japan.
Klass Stijnen, CEO of collab 2.0 winner Montoux, enthused about the opportunity: “Winning collab was a far easier way of entering a new market than the traditional route and a key advantage was the level of support from different layers and geographies within MetLife to make innovation succeed.”
MetLife will narrow contestants down to a final eight, pairing them with MetLife EMEA employee champions to help them hone their pitches. They will then present their final solution ideas at the collab Summit EMEA and Demo Day in London, UK on 11 and 12 July, where the winner will be announced.