MetLife opens first innovation centre in Bangladesh

MetLife Bangladesh says it has launched its first innovation centre in Dhaka.

The new 380 square feet facility is located at the MetLife building in Motijheel Commercial Area, according to a media release. It will leverage tried-and-tested innovation processes, to develop solutions that will help raise life insurance awareness as well as help meet the needs of the Bangladeshi customers, the company says.

“Supporting innovation in our industry as well as talent development are key areas of focus for us and this is a proud moment for us that today we are opening the first innovation centre in Bangladesh insurance industry,” the statement quotes Syed Hammadul Karim, General Manager of MetLife Bangladesh, as saying.

Launched in July 2015, LumenLab, MetLife Asia’s Singapore-based innovation centre, has focused on developing new business models in the areas of health, ageing, and wealth.

Zia Zaman, LumenLab CEO and Chief Innovation Officer of MetLife Asia, said: “The innovation centre is a differentiator. By redefining the way we interact with our customers, we are setting ourselves apart, focusing on the value that we can deliver."

MetLife also has an innovation centre in Japan.

MetLife Inc is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world, the statement continued.

Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.

Bangladesh is a key operation and has a long history tracing back to 1952. Today, it is the largest insurance company and a major employer in the country with over 15,000 field force and employees, the company added in the statement.