Endor, a predictive analytics platform founded by researchers at the Massachusetts Institute of Technology in the US, has been named the winner of the MetLife Korea collab 5.0 Innovation Program, which took place last week in Seoul. Over 180 startups from 30 different countries took part in the competition.
As the top contender, Endor will receive a contract with MetLife Korea worth US$100,000; it will provide its AI-based predictive analytics services for the insurer to improve customer engagement, sales and other operations in its Seoul headquarters.
The platform utilises proprietary technology called Social Physics, which enables it to sort through massive quantities of data in a shorter time than comparable solutions, analysing customer behaviour and offering accurate predictions that businesses can use to adapt their processes. Endor can also analyse encrypted data – an industry first, its developers claim – so its predictions are secure and scalable, as well as being reliable and cost-effective.
“We are incredibly honoured to be selected the winner of collab 5.0,” said Endor CEO Dr Yaniv Altshuler. “This is a huge vote of confidence in the unique predictive analytics capabilities our platform offers. MetLife is one of the largest insurance companies in the world and we are excited to participate in advancing innovation with such an important player in the insurtech industry, particularly in such an important market as South Korea, which pioneers disruptive technologies.”
The insurtech challenge was devised by LumenLab, MetLife’s dedicated Asian innovation centre, as a forum through which startups can showcase their service propositions to senior insurance figures, global entrepreneurs, venture capitalists and other business entities.