In this episode, Michael Waitze talks to Stephen Barnham, CIO for Asia Pacific at MetLife. Stephen shares some fascinating insights on MetLife’s view on the InsurTech startups ecosystem and its appetite to partner and work with startups. Stephen and Michael have known each other since the early 1990s when both were working for Morgan Stanley in Japan.
Stephen has worked most of his career in technology and digital transformation. He explains how MetLife has adapted its strategy to the new InsurTech ecosystem and is working with startups to improve customer experience. Metlife is working with venture capitalists and has its own investment fund to invest in interesting startups mostly in the area of big data, artificial intelligence and full-stack InsurTech startups. MetLife also runs an incubator in partnership with Techstars.
Stephen also touches on the strategy around their open innovation platform that is run out of LumenLab and comments on the sudden acceleration in InsurTech and how incumbents can identify and engage with startups and keep up with the speed in adoption.