LumenLab, the innovation centre for MetLife was launched in Singapore. The new 7,800 square feet facility at The Metropolis, Buona Vista houses a working space and business incubator staffed with dedicated innovation experts, many of whom have a background in startups or come from outside the insurance industry. An integral element of MetLife's investment in Asia, LumenLab has been established to develop disruptive new business models in the areas of wellness, wealth, and retirement.

By leveraging tried-and-tested innovation processes, LumenLab aims to build businesses that help Asian consumers achieve richer and more fulfilling lives. LumenLab will enable MetLife to anticipate the needs of Asian consumers,who are expected to account for approximately half of the insurance industry's growth in the next decade. By collaborating with the strong entrepreneurial talent pool in Singapore and across Asia, venture capitalists, and in-country experts from MetLife's regional operations, LumenLab is well-equipped to explore and deploy new solutions for its customers.

Harnessing MetLife's deep customer empathy and data, LumenLab will light the way in moving MetLife from an insurance company to a life company.