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collab managed to attract 135 applications from 34 countries in the world

MetLife’s Singapore-based innovation centre LumenLab today announced the eight finalists of its inaugural tech matchmaking programme collab.

collab is an “open innovation platform” that matches startups with the right opportunities within MetLife. Launched in November 2016, the platform aims to develop solutions in the area of customer engagement, sales process, operations, and new business model.

The eight startups are:

Capabiliti (India)
A user engagement SaaS platform by Qustn Technology that allows mid and large enterprises to reach out to “even its remotest user base” such as employees or external partners.

Democrance (United Arab Emirates)
The startup aims to “democratise insurance” by working as strategic partner and an enabler of growth for both insurance companies and mobile network operators. It targets un-insurable communities in the Middle East and North Africa.

Digital Fineprint (UK)
The company aims to turn social data into insurance data and “bring life insurance online” by services such as automating insurance application forms using social data on Facebook and LinkedIn.

Flamingo (US, Australia)
The ASX-listed company uses web-chat, web-forms and machine learning for assisted or automated consumer journey on mobile and desktop platforms, from page views to transaction.

Also Read: When it comes to gender equality, China is better than Silicon Valley: Dr. Lee Ng

Good Parents (US)

The company produces Kiddo Wear, what it claimed as “world’s first” wearable devices for kids that can help them to develop healthy habits such as brushing teeth, monitor health condition, and encourage active lifestyle.

Shift Technology (France)
The company utilises AI to fight frauds in life insurance.

Sureify (US)
The company aims to drive customer engagement by incorporating mobile apps, health devices, and wellness programmes into the insurance product experience. It allow underwriters to collect lifetime data from policyholders instead of just one “static portrait.”

Uniphore (India)
The company utilises patented speech analytics to help businesses drive outcomes, particularly through customer service.

The startups are set to pitch their business ideas on a Demo Day on May 19, following a three-month tailored mentoring sessions.

The finalists will also gain access to training from PwC’s Singapore-based venture hub Oliver Wyman and ACP Venture Capital’s accelerator arm Velocity on key topics such as B2B sales, insurance industry idiosyncrasies and fundraising for enterprise startups.

Velocity will also help finalists “ensure their readiness” for further funding, and will give preference to leading funding rounds by investing up to US$500,000 in one or more of the finalists, while MetLife has assigned “over 35 staff champions” to assist the finalists.

The successful finalist will receive a US$100,000 contract to implement a pilot within MetLife.

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