MetLife makes it to Forbes inaugural list

Published On: May 1, 2019 08:46 AM NPT By: Republica | @RepublicaNepal

KATHMANDU, May 1: MetLife has been named in Forbes' inaugural Blockchain 50 List, according to a press statement issued by the life insurer.

"The Blockchain 50 is the first-ever ranking of the top 50 organizations that are leading the pack in regard to adapting decentralized ledgers to their business,” according to the statement. "MetLife has been recognized for its Vitana experiment, which was launched in Singapore last August by LumenLab.

Vitana is the world's first, automated insurance solution using blockchain technology to offer pregnant women financial protection in case of gestational diabetes – a condition affecting up to one in five expectant mothers in Singapore," it added.

According to the company, Vitana securely connects to customers' electronic medical records via their mobile device to issue a policy within minutes. "If the customer's doctor records a positive diagnosis in her medical records, Vitana will trigger an automatic payout, without the customer needing to make a claim," the company added in the statement.