MetLife, a leading insurance company, has launched two InsurTech investment programs for start-up companies — backed by $100 million co-investment fund.
MetLife Digital Ventures and MetLife Digital Accelerator — powered by Techstars — will be led under the umbrella of MetLife’s Chief Digital Office.
“MetLife Digital Ventures and the MetLife Digital Accelerator are examples of our strategic partnership approach to promoting a culture of innovation and bringing an entrepreneurial lens to bear across the insurance value chain,” said Marty Lippert, head of MetLife Global Technology & Operations.
MetLife Digital Ventures, backed by $100 million co-investment fund, accelerates MetLife’s transformation through direct investment in start-up companies that can bring new forms of value to MetLife’s customers.
Through direct investment, MetLife will have an opportunity to influence the direction of these early stage companies that offer products and capabilities that are strategically important to the organization.
The launch of MetLife Digital Ventures brings to the next level MetLife’s existing strong relationships with 16 of the leading venture capital firms.
The MetLife Digital Accelerator powered by Techstars identifies and mentors startups that develop disrupting technologies in the insurance space.
Startups selected will be hosted at MetLife’s Global Technology Campus in Cary, North Carolina, for a 13-week program focused on the development and acceleration of transformational ideas.
David Brown, founder and co-CEO of Techstars, said: “The InsurTech startups selected for this program will create deep connections with MetLife’s industry experts, advancing and growing their businesses faster.”