MetLife has announced the launch of a new U.S. startup accelerator to be hosted on its technology campus in Cary, North Carolina.
The program, created in partnership with global entrepreneurial network Techstars, follows the life insurer’s earlier efforts to bring an accelerator to Singapore in November 2016. All startups developing “disruptive” technologies applicable to the insurance space are eligible to be selected for the 13-week program, the company said, in a statement. Applications for the MetLife Digital Accelerator are now being accepted.
MetLife also announced a new venture capital fund, MetLife Digital Ventures, which similarly to MetLife Digital Accelerator will fall under the umbrella of MetLife’s chief digital office. The VC arm is initially backed by a $100 million co-investment fund, the company says.
“MetLife Digital Ventures and the MetLife Digital Accelerator 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,” said Marty Lippert, EVP and head of MetLife global technology & operations. “These partnerships provide MetLife first-mover advantage in identifying and capitalizing on emerging consumer and technology trends."
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