MetLife – Digital Transformation Strategies
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MetLife has been focusing on data-driven innovation as a part of its digital transformation strategies. The annual ICT spending of MetLife was estimated at $3.2 billion in 2021. A major share of this spending is earmarked for acquiring software, hardware, and ICT services from vendors. MetLife is a financial services firm that offers insurance, employee benefits, asset management products, and services and annuities.
The MetLife digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.
Digital Transformation Strategies
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. The company has also implemented RPA across various internal processes, including the auto debit mandate process MetLife is further exploring the potential of these technologies within various business operations.
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MetLife Technology Theme Focus
MetLife is utilizing number of emerging technologies including big data, blockchain, and cloud to improve operational efficiency and enhance customer experience.
MetLife Technology Theme Focus
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MetLife Technology Initiatives
MetLife has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, acquisitions, and technology investments over the past few years. For instance, MetLife Gulf collaborated with Munich Re Automation Solution, to leverage and integrate the latter’s ALLFINANZ solution to its new Global Sales and Servicing Platform, M Power, and simplify its customer interaction process. The partnership aims to allow bancassurance partners, brokers, and agents to offer streamlined services to their Kuwait, Bahrain, Qatar, United Arab Emirates, and Oman customers.
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MetLife ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
MetLife ICT Spend by Function
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MetLife ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
MetLife ICT Spend by Channel
For more insights on ICT spending by channel, download a free report sample
MetLife External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
MetLife External ICT Spend by Segment
For more insights on external ICT spending by segment, download a free report sample
MetLife Digital Transformation Strategies Overview
Total ICT Spending 2021 | $3.2 billion |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Big Data, Blockchain, and Cloud |
This report provides:
- Insight into MetLife’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into MetLife’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of MetLife in 2021?
The annual ICT spending of MetLife was estimated at $3.2 billion in 2021.
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What are the key ICT spending categories by function for MetLife?
The key ICT spending categories by function for MetLife are communications, data center, network, application, end-user computing, service desk, and management.
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What are the key ICT spending categories by channel for MetLife?
The key ICT spending categories by channel for MetLife are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
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What are the key external ICT spending categories by segment for MetLife?
The key external ICT spending categories by segment for MetLife are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), network and communications, consulting, and others.
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What are the key technology themes in focus for MetLife?
The key technological theme in focus for MetLife are big data, blockchain, and cloud.
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