Endor wins MetLife Korea Insurtech Innovation Challenge for its Predictive Analytics Solution
SEOUL, South Korea–(BUSINESS WIRE)–June 19, 2019–
Predictive analytics platform Endor is proud to announce that it has been selected as the winning product of the MetLife Korea collab 5.0 Innovation Program, which took place in Seoul last week. The challenge drew the attendance of over 180 competing startups, from over 30 countries.
As the winner of the challenge, Endor will receive a 100,000 USD contract by insurance provider MetLife Korea to provide advanced AI and predictive analytics services in areas such as customer engagement, sales, and operations to the Seoul-headquartered branch of the NYSE-listed multinational financial services company MetLife Inc.
Endor, founded by MIT researchers in 2014, leverages proprietary Social Physics technology for its AI predictive analytics platform, to automatically analyze Big data faster than any alternative available in the market today and provide fast, accurate business predictions based on customer behaviour. Endor has developed the industry-first ability to analyse encrypted data, thus providing automated predictions which are secure and scalable, whilst still being accurate and affordable.
“We are incredibly honored to be selected the winner of MetLife Korea’s Innovation Program, Collab 5.0. This is a huge vote of confidence in the unique predictive analytics capabilities our platform offers” said Dr. Yaniv Altshuler, CEO of Endor. “MetLife is one of the largest insurance companies in the world and we are excited to participate in advancing innovation with such an important player in the insurtech industry, particularly in such an important market as South Korea, which pioneers disruptive technologies” Dr. Altshuler added.
Developed by LumenLab, MetLife’s Asia innovation center, collab 5.0 invited innovative insurtech solution providers to discuss and present their offerings to MetLife’s senior leaders, world-class entrepreneurs, venture capitalists, and other industry experts.
“MetLife Korea is looking forward to working with Endor and the other four innovative startups. Their solutions have the potential to offer tremendous benefits to our business and customers in Korea,” said Young Rok Song, Senior Vice President and General Manager, MetLife Korea.
“Innovation is a business imperative and external collaboration forms a key component of MetLife’s efforts to transform the insurance sector. Collab is about building partnerships that help us innovate ahead of tomorrow’s challenges to have a greater impact on those we serve,” said Zia Zaman, LumenLab’s Chief Executive Officer and Chief Innovation Officer of MetLife Asia.
Endor is the first automated predictions engine that empowers businesses with fast and accurate intelligence to make informed business decisions. Leveraging blockchain infrastructure and Endor’s proprietary Social Physics technology, the company analyzes Big Data using artificial intelligence in order to find patterns in customer behavior with unmatched accuracy and speed. Endor’s groundbreaking predictive analytics platform has the unique capability to process encrypted data, on-chain and off-chain, thereby guaranteeing the security of sensitive data and GDPR compliance.
Since being founded by MIT researchers in 2014, leading banks, large retailers and Fortune 500 companies like Coca-Cola and Mastercard have utilized Endor to predict consumer behavior, make data-driven decisions and increase revenues. For more information on Endor, visit https://www.endor.com/.
Dan Edelstein, +972-545-464-238
Yvette Marmur, +852 5716 8533
Eunyoung Jung, + 822 3469 9530
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.