With 153 years of experience, MetLife is a leading innovator and leader in protection planning and retirement and savings solutions worldwide. MetLife companies offer life, accident, health insurance, retirement, and savings products through agents, third-party distributors such as banks and brokers, and direct marketing channels. MetLife serves more than 90 of the top 100 FORTUNE 500® companies in the United States.
Our CoE is in the business of scaling – it's not enough for us to have a point solution to a single or small number of use cases…we want to continue expanding our automation scope. To that end, we need a solution that covers the broadest number of problems in the organization.
-Sean Nicolello, VP of Strategy and Planning, MetLife
MetLife began its automation journey to digitize valuable content accumulated over decades. Starting with RPA, MetLife digitized structured data but quickly hit a roadblock. "While we had captured major efficiencies with our RPA programs, we were seeing a graveyard of use cases involving unstructured data that we couldn't touch."
MetLife chose the Indico IPA solution, allowing the reading and understanding of unstructured content. MetLife appreciated that employees could use the platform to build models with a point and click low-code application interface. So, MetLife's CoE could focus on finding automation opportunities.
MetLife team identified 134,000 documents containing valuable information for risk modeling. Based on a training set of 200 samples, the model classified all the attributes needed in just a few days. MetLife saved 5,400 hours with the Indico platform and expects to save $100 million over the next few years. MetLife plans to use the Indico platform to expand its use cases across multiple business lines.