MetLife Digital Accelerator Partners with 10 Startups to Develop Financial
  Wellness and Engagement Solutions for Customers and Families

Business Wire

CARY, N.C. -- September 15, 2020

MetLife, Inc. (NYSE: MET) announced its third annual class of startups to
participate in the MetLife Digital Accelerator powered by Techstars. The
Accelerator supports MetLife’s strategic approach to technology and innovation
by working with external partners to simplify and create differentiated
experiences for our customers.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20200915005380/en/

10 new startups selected to join the 2020 MetLife Digital Accelerator powered
by Techstars (Photo: Business Wire)

10 new startups selected to join the 2020 MetLife Digital Accelerator powered
by Techstars (Photo: Business Wire)

This year’s class will focus on developing financial wellness and engagement
solutions to help customers and families save money, tackle debt, stay
healthy, care for seniors and children, and close the racial wealth gap.

Personal finances are the No. 1 source of stress for employees. More than four
in 10 U.S. workers – roughly 50 million overall – say they are not financially
healthy, according to MetLife’s 2020 Employee Benefit Trend Study.

“This year’s Digital Accelerator brings together a diverse cross-section of
tech innovators and specialized financial wellness experts to respond to these
needs,” said Meredith Ryan-Reid, senior vice president of Financial Wellness &
Engagement at MetLife. “These startups will focus on developing compelling
employee-benefit solutions that can flex to each customer’s needs while
addressing the broader impacts of a challenging socioeconomic climate.”

During the three-month, intensive Accelerator program, the startups will work
closely with MetLife leaders and Techstars mentors to develop, experiment and
scale capabilities with the potential to transform the insurance industry. To
protect the health and safety of all participants during COVID-19, this year’s
program will run in a largely virtual format. At the conclusion in December,
each startup will pitch its solutions during a Digital Accelerator Demo Day.

The 10 Startups selected for this year’s class are developing and refining the
following capabilities:

  * ChangEd (Chicago, Ill.) Accelerates repayment of debt at every stage of
    life (e.g., student loans, mortgages) to get borrowers out of debt sooner.
    ChangEd automates savings, payments and develops an intelligent debt
    repayment journey.
  * Dot (New York, N.Y.): Mobile-first robot financial advisor delivering
    personalized recommendations helping people increase savings, optimize
    spending, and plan for retirement.
  * FinGoal (Boulder, Colo.): Uses AI to analyze consumer behavior providing
    personalized, less expensive alternatives (e.g., a cup of coffee to
    insurance and everything in between).
  * Holisticly (New York, N.Y.): Provides employees with a monthly wellness
    stipend to choose from a range of team-wide experiences and fitness and
    mental health solutions (e.g,, Calm, Audible, ClassPass, Headspace, and
    Peloton).
  * InterGen Data (Plano, Texas): AI platform that predicts the likelihood of
    life-changing events so people can prepare for the moments that matter.
  * Kinside (Los Angeles, Calif.): Connects employees to a network of 1M
    daycare and preschool spots, with pre-negotiated spaces and exclusive
    savings. Payments are made pre-tax via an application programming
    interface integration with flexible spending accounts and third-party
    administrators.
  * LivNao (Sunnyvale, Calif.): Passively measures mental health for delivery
    of behavioral nudges to improve wellbeing.
  * Mellow (Hong Kong): Resource for parents to teach kids, ages 6-18, how to
    build money habits and use digital payments across savings, spending and
    earnings.
  * OfColor (Maplewood, N.J.): Provides content, banking tools, and AI advice
    built around how people of color save, spend, and build wealth.
  * VillagePlan (Boston, Mass.): Provides on-demand experts and technology
    tools to help families care for aging loved ones.

The Digital Accelerator, a component of MetLife’s comprehensive innovation
ecosystem, was designed to provide first-mover advantage on capabilities that
address critical customer needs in the financial and insurance services
sector. Other components of the ecosystem include:

  * Relationships with 20 venture capital firms and collaborations with
    universities such as Carnegie Mellon, the University of North Carolina at
    Chapel Hill and the MIT Media Lab.
  * Strategic partnerships with leading tech companies such as Cisco, IBM,
    Oracle, Microsoft, Dell, AT&T, Guidewire and others.
  * MetLife’s ‘Ignition’ program, an annual one-day innovation hunt in which
    15 to 20 tech startups ‘speed date’ more than 200 MetLife business leaders
    to connect startup capabilities with business requirements and priorities.
  * Internal crowdsourced and facilitated innovation with employees around the
    globe.

The Financial Wellness and Engagement division of MetLife is committed to
helping people understand their options and confidently make progress in their
financial lives.

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 markets globally and
holds leading positions in the United States, Japan, Latin America, Asia,
Europe and the Middle East. For more information, visit www.metlife.com.

Forward-Looking Statements

This news release may contain or refer to forward-looking statements.
Forward-looking statements give expectations or forecasts of the future using
terms such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,”
“believe,” “will,” “potential,” “look to,” and other terms tied to future
periods. Results could differ materially from those expressed or implied in
the forward-looking statements. Forward-looking statements are based on
assumptions and expectations. They involve risks and uncertainties, including
the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange
Commission filings. The company has no obligation to correct or update any
forward-looking statement. Parts of this news release may include additional
information on forward-looking statements. This news release may also contain
measures that are not calculated based on accounting principles generally
accepted in the United States of America, or GAAP.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20200915005380/en/

Contact:

Deborah Hyman
917-683-6060
[email protected]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here