MetLife Insurance has chosen CUBE for a regulatory intelligence and change management pilot project as part of its open innovation programme, “Collab 4.0”.
Created by LumenLab, MetLife’s Asia innovation centre, Collab 4.0 invited insurtechs from around the globe to apply for a JPY 10 million ($90,000) contract to pilot their solutions with the insurer’s Japan business.
CUBE was among the six finalists selected from 140 applicants across 40 countries and was awarded the win in Tokyo in early December 2018.
Zia Zaman, LumenLab’s CEO and chief innovation officer of MetLife Asia, says: “External collaboration is a critical component to transforming the insurance sector and Collab is about building partnerships that help us innovate ahead of tomorrow’s challenges. You can never innovate faster than the market.”
The regtech platform captures financial services regulatory intelligence and automates the process of managing regulatory change. Using artificial intelligence (AI) and robotic process automation, it delivers regulatory change automation in real time across the enterprise.
Currently, CUBE monitors regulatory intelligence across 180 countries, in 60 languages, for multi-jurisdictional financial services organisations.