News eDaily23 May 2017

Singapore:MetLife's LumenLab picks winner of startup programme

23 May 2017

LumenLab, MetLife's Singapore-based innovation centre, has announced Uniphore as the winner of its inaugural corporate startup engagement programme, collab, following the Demo Day which took place last Friday in Singapore.

In addition to the overall winner, two outstanding projects, Democrance and Flamingo received the “Judge’s Selection” award.

Collab, launched in November 2016, attracted over 135 applications from 34 countries worldwide. Based on known challenges in the areas of customer engagement, sales process, operations, and new business model, eight finalists competed to be the overall winner and receive a US$100,000 contract to implement their solution in MetLife.

“This competition brought out some of the best start-ups in the insurtech space. We believe that innovation platforms such as collab are key in identifying implementable solutions to better meet the changing needs of our customers,” said Chris Townsend, President, MetLife Asia.

Uniphore, founded in 2009 and with offices in India and Singapore is a speech recognition solutions company. Their solutions extend the power of speech to revolutionise human-machine interaction. This allows any software application to understand and respond to natural human speech, and facilitates both customer engagement and loyalty build. Uniphore has worked with over 70 enterprise customers and served over four million users.

The eight start-up finalists were Capabiliti, Democrance, Digital Fineprint, Flamingo, Good Parents, Shift Technology, Sureify, and Uniphore. The broad range of solutions showcased included artificial intelligence (AI), predictive analytics and wearables for kids.

MetLife, through its subsidiaries and affiliates, is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the US, Japan, Latin America, Asia, Europe and the Middle East.

Based in the UAE, Democrance is the first mobile microinsurance partner in the Middle East and Northern Africa. It aims to make insurance available to a wider population by working as a strategic partner and an enabler of growth for both insurance companies and mobile network operators.

Based in New York and Sydney, Flamingo is an enterprise technology (SaaS) company in the emerging fields of Machine Learning and Conversational Commerce that helps businesses to automate online customer experiences for financial services. Flamingo provides a suite of AI powered Virtual Customer Assistants helping businesses to improve customer experiences, increase online sales conversion rates and reduce service costs. 

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