1. Home
  2. > Financial Services
  3. > Insurance Market Trends
MetLife - Enterprise Tech Ecosystem Series

MetLife - Enterprise Tech Ecosystem Series

  • May 2022
  • 23 pages
  • ID: 5881519
  • Format: PDF
  • GlobalData

Summary

Table of Contents

Search Inside

MetLife - Enterprise Tech Ecosystem Series

Summary
This report provides insights into MetLife’s digital strategies, including its digital transformation strategies, innovation programs, technology initiatives, estimated ICT budget, and major ICT contracts.

MetLife is a financial services firm that offers insurance, employee benefits, asset management products, and services and annuities.The company markets and sells its products and services to individuals, corporations, and their respective employees, and other institutions through independent agencies, brokerage firms, sales offices, bancassurance, direct marketing, career agencies, and other third-party distribution and ecommerce networks.

The company operates across Asia, the US, Latin America, Europe, and the Middle East.Japan is its largest Asian operations base.

It has also set up a data analytics center of excellence in Malaysia.

In January 2018, MetLife launched MetLife Digital Accelerator powered by Techstars, with $100 million to invest in innovative companies.It is an insurtech investment program designed to identify, invest, and mentor early-stage startups that are developing disruptive technologies in the insurance sector.

MetLife assists these startups in developing and commercializing their ideas. To make MetLife Digital Accelerator accessible to more startups, the company launched a new incubator, met.X, at its Global Technology Campus in Cary in 2019, as an additional operating center for the Accelerator.

Launched in 2015, LumenLab is an innovation center based out of Singapore that partners with startups and other disruptors to create new businesses in health, wealth, and retirement. LumenLab organizes an open innovation program known as Collab, which works with entrepreneurs and insurtechs to enhance their business and implement their solutions within MetLife to create a better customer experience.

Introduced in 2014, Ignition is a platform where MetLife’s leaders unite with startups and venture capital partners to explore the potential of disruptive technologies for various operations at MetLife, such as AI, data security, data analytics, compliance solutions, sales platforms, apps for customer interaction, virtual platforms to organize health treatments, business analysis tools, and employee onboarding and career development platforms.

Scope
- To target potential customers and offer personalized products, along with improving internal processes, MetLife follows a data-driven approach. It is empowering its salesforce with digital tools to effectively reach out to potential customers. Aside from risk and improved underwriting, the company has been leveraging machine learning for sales generation. This strategy is powered by its big data platform, to support areas such as customer service and claims. Also, the company leverages AI and data analytics to forecast service requests.
- MetLife aims to augment customer experience and achieve operational efficiency through AI, analytics, and RPA. Since then, it has been actively leveraging it across the company, from customer service to claims management, which alone has around 65 RPA-based software tools. For instance, the company developed voice empathy and stress software to enable service agents to better recognize and react to customer problems and concerns. Meanwhile, the khUshi app with AI technology delivers better predictions, personalized and customized solutions, and improved services.
- MetLife realigned its strategies to serve its customers better, while ensuring the safety of its workforce in the face of the pandemic. It has introduced a comprehensive approach and implemented digital solutions to streamline its business operations across all functions and markets, including information security, employee mobility, and infrastructure resiliency. Furthermore, it is growing its internal capabilities while focusing on improving HR operations and the productivity of its employees.
- MetLife is reaching out to innovative startups, companies, associations, and institutions to identify and create disruptive solutions. MetLife launched two insurtech investment programs for startups — MetLife Digital Ventures and MetLife Digital Accelerator — to develop digital solutions. It has collaborated with SparkBeyond and Cogito to create an AI platform and provide real-time alerts to claims agents. Furthermore, it implemented IPsoft’s AI solution, “Ali”, to manage its IT infrastructure across countries and minimize time-to-service delivery.

Reasons to Buy
- Gain insights into MetLife’s tech operations.
- Gain insights into its digital strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its product launches, partnerships, investment activity, and acquisition strategies.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Clinical Patient Access Solutions Market Research Report by Product, Delivery Mode Solution, End-User, State - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - United States Forecast 2023-2030

  • $ 3949
  • January 2023
  • 131 pages

Clinical Patient Access Solutions Market Research Report by Product (Services and Software), Delivery Mode Solution, End-User, State - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation ...

  • United States
  • Healthcare
  • Marketing Research
  • Industry analysis
  • Paid Claims

ref:plp2022

Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on