With 153 years of experience, the MetLife companies are a recognized leader in protection planning and retirement and savings solutions around the world, offering life, accident, health insurance, retirement, and savings products through agents, third-party distributors such as banks and brokers, and direct marketing channels. The company serves 96 of the top 100 FORTUNE 500® companies in the United States.
Despite MetLife’s product innovation and forward-looking operations, the company still struggled with digitalizing aspects of its document-intensive business, with intake presenting particular challenges due to the unstructured nature of its data/documents. As a result, the company was expending incredible time and resources on intake, while leaving incalculable business value locked away in its unstructured data.
MetLife chose Indico Data for its collaboration and for how quickly the company could produce models that delivered accurate results, resulting from some useful features and functions of the platform including an intuitive user interface (UI). With Indico’s Intelligent Intake solution, MetLife was able to generate significant ROI by automating intake for both its long-term care and syndicated loan businesses.
Indico’s Intelligent Intake solution enabled MetLife to onboard and solve dozens of use cases across multiple lines of business, from long-term care, financial loans and RIS to structured settlement annuities, group benefits and more. Importantly, they can do it all while maintaining strong corporate governance and control. Thanks to Indico Data, MetLife has $100 million in hard savings over the next three years.