MetLife Foundation and Verb launch competition to accelerate financial health in Australia
MetLife Foundation and Verb have launched Inclusion Plus in Australia as part of a global competition to identify and support entrepreneurs, non-profits and other impact organizations that help advance financial wellbeing across the world.
Sydney March 21, 2018
In Australia, 64 percent of adults are financially insecure, meaning that there is unmet demand for financial products and services and limited financial knowledge and confidence[1]. A recent MetLife study also found that one in four working Australians don’t feel confident about their financial future[2].
MetLife associates will serve as mentors in the competition, contributing hundreds of volunteer hours. Top teams that advance to the semifinal round will be paired with MetLife associates to develop their business pitches. Finalists will compete at an event in August for a total of $130,000 AUD in grant funding from MetLife Foundation.
“Our goal is to help our clients build social innovation ecosystems,” says Verb CEO Suzi Sosa. “Financial wellbeing is a complex problem that cannot be solved by any single solution. Our social impact engagement platform enables us to connect entrepreneurs, investors, corporate partners, mentors and thousands of people from the public. By strengthening this network, we don’t just find one great idea; we actually strengthen the innovation ecosystem.”
Alison Lim, Chief of Staff, MetLife Australia, commented: “A core part of our business is insurance inside superannuation, which in itself supports financial inclusion by providing lifestyle protection to millions of Australians, many whom may otherwise be unable to afford or access life insurance.
“We’re very excited to be able to host Inclusion Plus in Australia. It’s a great opportunity for our MetLife team and for Australian entrepreneurs to shine a light on financial inclusion and develop initiatives and opportunities to support financial wellbeing across the country.”
Ventures can apply to Inclusion Plus through 17 April. Learn more at aus.inclusionplus.com.
[1] http://www.csi.edu.au/media/uploads/Financial_Resilience_in_Australia_-_Full_Report.pdf
About MetLife
MetLife is a leading provider of life insurance, partnering with employers and super funds to help more Australians create a lifestyle they love – and providing help when they need it most. Our 150-year history and global presence gives us the scale and experience to be a valued and trusted partner in business. MetLife is the third largest group insurer in Australia, protecting more than 2.6 million people. We support our claimants to get back on their feet financially, having disbursed approximately $485 million in claims in 2017, and we provide an exceptional claims experience with access to ancillary support services to promote holistic health and wellbeing.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), 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. 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. For more information, visit www.metlife.com.
About MetLife Foundation
MetLife Foundation was created in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Since its founding through the end of 2017, MetLife Foundation has provided more than $783 million in grants and $70 million in program-related investments to organizations addressing issues that have a positive impact in their communities. In 2013, the Foundation committed $200 million to financial inclusion, and our work to date has reached more than 3.5 million low-income individuals in 42 countries. To learn more about MetLife Foundation, visit metlife.org.
About Verb, Inc.
Verb is a social enterprise that produces global social entrepreneurship competitions and delivers employee engagement in partnership with companies, foundations and governments. Verb competitions mobilize thousands of teams from around the world to solve the planet's most pressing social and environmental problems. Founded in 2013 by Austin entrepreneurs Suzi Sosa and Tom Meredith, Verb leverages its online platform, innovation expertise, and entrepreneur network to produce a social innovation engagement experience unlike any other. For more information, visit www.verb.net/.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), 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. 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. For more information, visit www.metlife.com.