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List highlights companies that are embracing technology to drive
business success
HONG KONG–(BUSINESS WIRE)–MetLife has been named in Forbes’ inaugural Blockchain
50 List, the first-ever ranking of the top 50 organizations that are
leading the pack in regard to adapting decentralized ledgers to their
business.
MetLife was recognized for its Vitana
experiment, which was launched in Singapore last August by LumenLab,
MetLife’s Asia innovation center. Vitana is the world’s first, automated
insurance solution using blockchain technology to offer pregnant women
financial protection in case of gestational diabetes– a condition
affecting up to one in five expectant mothers in Singapore.
Vitana securely connects to customers’ electronic medical records via
their mobile device to issue a policy within minutes. If the customer’s
doctor records a positive diagnosis in her medical records, Vitana will
trigger an automatic payout, without the customer needing to make a
claim.
“We saw an opportunity to test how blockchain can make insurance more
seamless for customers and we’re delighted to receive this recognition
from Forbes and to be considered a global leader in blockchain,” said
Zia Zaman, MetLife’s Chief Innovation Officer in Asia and Chief
Executive Officer of LumenLab.
Vitana was developed within the Monetary
Authority of Singapore’s (MAS) regulatory
sandbox, together with partners: SwissRe, which
helped drive product design and reinsure the risk; Cognizant,
which provided the underlying technology and blockchain expertise; and Vault
Dragon, an electronic medical records provider which supported
on-the-ground implementation with forward-thinking doctors and clinics.
For additional information about the 2019 Blockchain 50 List, please
visit: Blockchain’s
Billion Dollar Babies
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates
(“MetLife”), is one of the world’s leading financial services companies,
providing insurance, annuities, employee benefits and asset management
to help its individual and institutional customers navigate their
changing world. Founded in 1868, MetLife has operations in more than 40
countries and holds leading market positions in the United States,
Japan, Latin America, Asia, Europe and the Middle East. For more
information, visit www.metlife.com.
About LumenLab
As MetLife’s pioneers for disruptive innovation, LumenLab is charging
ahead to create new businesses in health, wealth and retirement. Lumen,
a measure of light, symbolizes our commitment to illuminating a new path
for solving the problems that the people of Asia face today. Through our
focus on building new products and services grounded in technology and
data, we aim to help people achieve richer and more fulfilling lives.
For more information, visit http://www.lumenlab.sg
Contacts
Yvette Marmur (Asia): +852 5716-8533 or [email protected]
