Montoux selected as finalist for “Collab 2.0” backed by MetLife Japan

Montoux has been chosen as only one of 6 finalists for Collab 2.0, an open innovation programme run by LumenLab, MetLife’s Singapore-based innovation center.

Collab 2.0, launched in August 2017 and backed by MetLife Japan, was created as “a platform for innovators to tackle the business needs of tomorrow.”

Over the next 2 months, finalists will receive assistance from MetLife Japan’s “Staff Champions,” before pitching their business ideas to senior executives from MetLife at the demo day on 8 December 2017. Montoux, along with the other 5 finalists, have the chance to win a JPY 10 million* contract.

For Montoux, being a finalist in the programme is further validation that they’re solving real problems for life insurers. Klaas Stijnen, Founder Director and CEO of Montoux Asia-Pacific, says, “it’s a perfect opportunity to prove our value proposition in the second largest life insurance market in the world. We already know that current pricing tools are holding life insurers back globally. We relish the chance to show how we can help MetLife to improve both their competitiveness and profitability. The resources and support provided by the staff at Metlife Japan will be invaluable over the coming months.”

According to Zia Zaman, LumenLab CEO and Chief Innovation Officer of MetLife Asia, the company is delighted with the finalists: “The quality and caliber of the submissions was very high. Our finalists represent the best in creativity and innovation, and brought fresh thinking to address the evolving needs of the insurance customer. We look forward to working with them over the coming months.”

After the success of its first iteration, Collab 2.0 attracted over 111 applications from 24 countries around the world. Following a rigorous application review process, 6 applicants were selected to be finalists, including Montoux, Concierge U, Gnowbe, Moneytree, TrustSphere, and WorkFusion.

Read the official announcement from MetLife Japan here.

* This amount equates to approx..US$88,775 based on the FX rate of 1USD:JPY112.64 as at 04Oct2017

About Montoux

Montoux is the global leader in pricing transformation for the life insurance industry. It provides an actuarial modeling platform which blends actuarial and data science into a powerful, easy-to-use software that helps insurers price their risk. Its customers include several of the world’s leading insurance providers and the company is rapidly expanding in the United States, Asia, Australasia, and the UK. Montoux improves life insurance carrier's profitability and speed to market and allows them to respond easily to fast-changing market dynamics. 

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