MetLife and Techstars Join Forces to Support Insurtechs
“The rise of globalization, changing consumer demographics and an exponential growth in technology are factors impacting all industries. MetLife is delivering on a strategy aimed at capturing this opportunity. MetLife Digital Ventures and the MetLife Digital Accelerator powered by Techstars are two examples of our strategic partnership approach to promoting a culture of innovation and bringing an entrepreneurial lens to bear across the insurance value chain. These partnerships provide MetLife first-mover advantage in identifying and capitalizing on emerging consumer and technology trends” – Marty Lippert, executive vice president and head of MetLife Global Technology & Operations.
Backed by a $100 million co-investment fund, MetLife Digital Ventures accelerates MetLife’s transformation through direct investment in strategically aligned start-up companies that can bring new forms of value to MetLife’s customers. The launch of MetLife Digital Ventures brings to the next level MetLife’s existing strong relationships with 16 of the leading venture capital firms. These long-established relationships continue to provide MetLife unique access to a portfolio of top-tier investment opportunities.
The MetLife Digital Accelerator powered by Techstars is a first-of-its-kind program that identifies and mentors startups around the globe that are developing industry-disrupting technologies in the insurance space. Startups selected will be hosted at MetLife’s Global Technology Campus in Cary, North Carolina, for an intensive 13-week program focused on the development and acceleration of transformational ideas. Applications are now open for the first MetLife Digital Accelerator class.
“Techstars is the worldwide network that exists to help entrepreneurs succeed, and our relationship with MetLife, an insurance powerhouse, advances our ability to do exactly that. The InsurTech startups selected for this program will create deep connections with MetLife’s industry experts, advancing and growing their businesses faster” – David Brown, founder and co-CEO of Techstars.
Recall insurer-backed VCs here.