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MetLife announces futureLab in Singapore

Zafar Anjum | Nov. 7, 2014
MetLife to establish a first-of-its-kind, innovation centre based in Singapore

Some of the elements of disruptive innovation include being risk tolerant and adaptive (The magic of innovation is in experimentation), being a magnet for talent, to have deep customer empathy, and to be audacious and relentless.

Professor Ishtiaq Mahmood gave examples of 'frugal innovation' in the context of technology adoption in Bangladesh.  "You need idealists for innovation," he said. "It is not always about payoffs."

Dr Steven Tucker said that preventing disease is also a form of innovation, and health is communication, not science. In the future, he said, companies might use big data to reward people with healthy habits and penalize those with unhealthy habits.  

Zaman said that you have to follow demand, and demand shifts. "The way to track it is to take small risks," he said.

Most panelists agreed that it was necessary to incentivize people to find preventive solutions in healthcare.



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