MetLife Recognized in Forbes’ Inaugural Blockchain 50 List

April 29, 2019 4:34 AM

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 theMonetary Authority of Singapore’s(MAS)regulatory sandbox, together with partners:SwissRe,which helped driveproduct design and reinsure the risk;Cognizant, which provided the underlying technology and blockchain expertise; andVault 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, visithttp://www.lumenlab.sg

Yvette Marmur (Asia): +852 5716-8533 or ymarmur@metlife.com

Source: MetLife, Inc.

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