Chennai, 28 June 2017: Uniphore Software Systems, a Chennai-based speech recognition solutions company, is the winner of MetLife’s, Singapore-based innovation center’s corporate-startup engagement program, Collab. Collab, driven by LumenLab, launched in November 2016, attracted over 135 applications from 34 countries and Uniphore Software Systems was one among the 8 finalists for the inaugural tech matchmaking program by LumenLab.
The finalists competed based on known challenges in the areas of customer engagement, sales process, operations, and new business model, to be the overall winner and receive a six-figure US$ contract to implement their solution in MetLife. The “open innovation” construct, combined with access to “champions” from across the business made for a mutually beneficial experience.
Uniphore presented U-Analyze, their speech analytics solution, that will help Metlife, attain sales and operations efficiency across their companies. U-Analyze is built to help organizations identify and break down complex business problems by way of offering executive insights into customer interactions.
Speaking about this achievement, Ravi Saraogi, President – APAC, said, “We are extremely proud of having won Collab – a platform for innovators and disruptors to tackle the business needs of tomorrow. Uniphore’s win in this prestigious innovation program reaffirms our unflinching commitment to extend the power of speech to revolutionize and transform human and machine interactions. This win will help us work with MetLife companies both in APAC and rest of the world and further opens opportunities for us in the insurance vertical.”
“I would like to extend my special thanks to Mr. Chris Townsend, President, MetLife Asia, who led the project, Mr. Zia Zaman, Chief Executive Officer, LumenLab and Mr. Shwetank Verma, Head of Collab, LumenLab, for their constant support and guidance that helped us win this contract,” Ravi added.
Preparing for the “Demo Day”, LumenLab and its associates mentored the finalists in areas of business operations for a period of three months. The finalists then pitched their business ideas to senior MetLife executives, who evaluated them on the viability of their business plans, the merits and competitive differentiation of their technology, the strength of their teams and their alignment with MetLife’s strategic focus.
The broad range of solutions showcased included artificial intelligence (AI), predictive analytics and wearables for kids. The finalists received coaching and training from Oliver Wyman, PwC’s venture hub in Singapore, and Velocity (ACP’s accelerator arm).
Uniphore Software Systems is headquartered in IIT Madras Research Park, Chennai. Uniphore was incubated in IIT Chennai, India in 2008 and currently has offices in India, Singapore, and U.A.E with about 100 employees spread across all locations. Uniphore’s investors include Kris Gopalakrishnan, IDG Ventures India, India Angel Network, YourNest Angel Fund and Ray Stata. Uniphore has worked with over 70 enterprise customers and served over 4 million end users. Uniphore was recognized by Deloitte as a Technology Fast 500 company in Asia Pacific in 2014 and was also ranked as the 10th fastest growing technology company in India by Deloitte Fast 50 in 2015. Uniphore’s Co-Founder & CEO, Umesh Sachdev was recognized by the TIME Magazine list of 2016 amongst “10 Millennials Changing The World”, and with India’s edition of MIT Technology Review’s ‘Innovators Under 35′ for the year 2016. www.uniphore.com.
As MetLife’s pioneers for disruptive innovation, LumenLab is charging ahead to create new businesses in health, wealth, and retirement. Lumen, a measure of light, symbolizes our commitment to illuminating a new path for solving the problems that the people of Asia face today. Through our focus on building new products and services grounded in technology and data, we aim to help people achieve richer and more fulfilling lives. For more information, visit www.lumenlab.sg.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
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