MetLife’s India JV Launches First Ever On-Demand Virtual Reality Customer Service Platform

Business Wire

HONG KONG--(BUSINESS WIRE)-- MetLife, Inc. (NYSE: MET) announced that, PNB MetLife, its JV partnership in India, has launched “conVRse”, a first-of-its-kind on-demand virtual reality (VR) customer service platform. The launch event, held at PNB MetLife regional office in Hyderabad, India, was inaugurated by Shri T. S. Vijayan, Chairman, Insurance Regulatory Development Authority of India (“IRDAI”) with Shri Nilesh Sathe, Member Life, IRDAI also in attendance.

Commenting at the launch event, Mr. Tarun Chugh, Managing Director, and Chief Executive Officer, PNB MetLife said: “Our ongoing investment in technology underscores our philosophy to support continuous innovation and customer centricity. We are delighted to bring this ground breaking technology to our customers and revolutionize the concept of customer service for the 21st century.” Mr. Chugh further added: “The next phase of innovation for the life insurance industry is dawning, and we are proud to be leading from the front. I would like to thank the IRDAI for their support and guidance on bringing this innovative solution to our customers in India.”

The conVRse technology, developed and built in collaboration with LumenLab, MetLife’s Singapore-based innovation center and PNB MetLife, aims to provide a differentiated, immersive and a personalized experience to the customer through the VR headset. While wearing the VR headset, customers enter a 3D simulated environment where they interact with a life insurance expert in the form of an avatar, named “Khushi”.

“What I like about virtual reality is that it allows the customer to be the protagonist in their own financial journey.” said Zia Zaman, LumenLab CEO and Chief Innovation Officer of MetLife Asia. “We are delighted to launch this technology first in India. Our customers will have the unique opportunity to experience VR for the first time, to solve real-world servicing issues.”

conVRse marks the first time virtual reality technology has been adopted by the insurance industry in India. Through a unique on-demand virtual reality environment, customers are able to connect directly with “Khushi”, a customer service expert and receive a personalized service using virtual aids to address any questions or policy servicing requirements they have.

The launch event marks the first phase of the roll out plan for the VR technology in India. During this phase, conVRse will be made available at 15 branches in 10 cities across India. These cities include: Delhi, Mumbai, Hyderabad, Bengaluru, Kolkata, Jammu, Chandigarh, Lucknow, Ahmedabad and Pune.

In the second phase, PNB MetLife aims to equip the insurance sales team with VR devices so that our customers can go on a journey using the VR headsets to raise their general insurance awareness and better understand our products. They are also exploring conVRse zones at bank partner ATMs.

The launch event in India will be live telecast on the PNB MetLife facebook page from 3:00 pm (IST). Interested parties can view the telecast at the following link: https://www.facebook.com/PNBMetLife

About PNB MetLife India Insurance Company Limited

PNB MetLife India Insurance Company Limited (PNB MetLife) has as its shareholders MetLife International Holdings LLC. (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors, with MIHL and PNB being the majority shareholders.

About MetLife

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.

About LumenLab

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, symbolises 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.