The Digital Insurer has done a high level commentary on MetLife's LumenLab There is a video available at www.the-digital-insurer.com

1. InView
–
MetLife
LumenLab
1
Why
Telema*cs?
"LumenLab
goes
beyond
just
technology
innova5on.
To
respond
to
the
fact
that
the
demand
curve
is
bending
towards
Asia,
a
phenomenon
we
call
the
Asiafica5on
of
Demand,
the
centre
is
based
right
here
in
Singapore.”
-­‐
Zia
Zaman,
LumenLab
CEO
and
Chief
Innova;on
Officer

2. MetLife
LumenLab
Commentary
&
insights
LumenLab
is
a
business
crea*on
engine,
focused
on
fostering
and
scaling
new
business
models
for
Met
Life
in
Asia.
LumenLab
will
focus
on
developing
innova*ve
and
impacDul
solu*ons
in
the
areas
of
wellness,
wealth,
and
re*rement
that
have
tradi*onally
been
over
looked
by
underwriters.
Zia
Zaman,
MetLife
Asia's
chief
innova*on
officer,
said
his
team
is
in
the
midst
of
developing
solu*ons
around
demen*a,
alzheimer’s
and
health
issues
that
dispropor*onately
affect
senior
ci*zens.
Background
Founded
in
1868,
US
born
MetLife
is
a
global
provider
of
life
insurance,
annui*es,
employee
benefits
and
asset
management.
Met
Life’s
commitment
to
Asia
is
evident
by
its
status
as
the
largest
foreign
life
insurer
in
Korea
,
ranked
#2
in
Japan
and
#3
in
China.
In
July
2015,
Met
Life
re-­‐launched
its
innova*on
centre,
LumenLab,
which
will
focus
on
Asia’s
burgeoning
digital
consumer
base
who
are
expected
to
account
for
half
of
the
insurance
industry’s
growth
in
the
next
decade

3. LumenLab
Innova;on
It’s
not
only
Product
or
Services
Innova;ve
use
of
Data
Innova;on
through
Collabora;on
Ø LumenLab
is
a
business
crea*on
engine
and
goes
beyond
crea*ng
new
products
and
services.
It
is
focused
on
crea*ng
new
business
models
for
the
insurance
market.
Ø LumenLab
will
leverage
Singapore’s
ecosystem
and
capabili*es
across
diverse
industries
to
draw
fresh
insights
and
drive
the
crea*on
of
new
businesses.
Ø LumenLab
will
mine
both
structured
and
unstructured
data
to
parse
social,
UX
and
pricing
data.
Ø LumenLab
plans
to
use
data
to
find
undrwri*ng
opportuni*es
for
people
who
are
tradionally
high
risk
proposi*ons.
Ø Unlike
compe*tors,
Met
Life’s
LumenLab
will
partner
with
leading
players
in
data
analy*cs,
market
research,
pharmaceu*cal,
and
technology
to
explore
new
business
opportuni*es
Ø LumenLab
already
has
an
exis*ng
rela*onship
with
NUS
Business
School
to
access
the
NUS
talent
stream.

4. LumenLab:
Key
Features
Asia
Focus
Preven;on
and
Personalisa;on
Insure
the
Uninsurable
LumenLab
will
work
towards
iden*fying
specific
issues
being
faced
by
Asia’s
ageing
popula*on,
pension
benefits,
re*rement
health
care
and
more
affordable
life
insurance
products
for
those
that
have
not
considered
it
LumenLab
foresees
a
massive
opportunity
in
the
personalisa*on
of
insurance
policies
based
on
the
ubiquity
of
sensors
and
soaware.
LumenLab
is
looking
at
new
offerings
based
on
iden*fying
risk
pools
that
have
tradi*onally
been
overlooked.
It
is
not
about
lowering
premiums
but
taking
the
uninsurable
and
making
them
insurable.

5. Contact
The
Digital
Insurer:
hugh.terry@the-­‐digital-­‐insurer.com
Our
digital
insurance
content
is
free
for
subscribers
and
supported
by
our
sponsors.
Join
more
than
7,000
others
@
the-­‐digital-­‐insurer
About
The
Digital
Insurer
The
forum
for
professionals
interested
in
digital
insurance
Objec*ve:
to
help
the
insurance
industry
to
take
full
advantage
of
digital
trends
and
technologies
The
services
we
offer
to
ensure
our
content
remains
free
Site
sponsorship
for
content
sec*ons
Lis*ng
&
content
development
services
for
technology
companies
Consul*ng
services
on
digital
insurance
in
partnership
with
KPMG
Conference
speaking
and
workshops
Database
&
insights
on
digital
innova*ons
around
the
world
Snippets,
InViews
and
case
studies
Searchable
by
region
and
category
Published
by:
Sponsored
by:
What
is
Digital
Insurance
in
Ac*on?