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March 11, 2019

2019 AWARD FINALIST SPOTLIGHT: MetLife - Finalist in the Technology Enabled Process Automation Category

 

Read this article about MetLife, one of our finalists, in the category Best Achievement in Technology Enabled Process Automation, selected by the independent judging panel, for the 2019 Business Transformation & Operational Excellence Industry Awards program. Click here to read articles on other finalists.

 

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MetLife’s digital strategy aims to unlock the potential created by the shifting landscape of the digital age, where customers are highly empowered. As a part of this strategy, the company is in the midst of a multi-year transformational effort to enhance claims processes through new digital solutions that increase efficiency and simplify the employee and customer experiences.

 

MetLife conducted a value stream analysis within its U.S. short-term disability and total absence management operations to determine how to minimize the mundane, rote tasks employees need to do, enabling them to focus on more value-added, customer-facing tasks. This exercise determined approximately 60% of processes could be reengineered and 40% could be automated.

 

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The team partnered with Blue Prism to develop a robotic process automation (RPA) solution that is transforming how we do business, and benefiting employees and customers alike. A five-step standard implementation approach was developed, which includes subject matter experts that ensure the RPA replicates the correct keystrokes for each process.

 

Through leveraging RPA, the claims organization seeks to:

Create resource capacity for claims specialists to focus on customer-centric tasks

Provide key data-driven insights at a faster pace

Establish a flexible, scalable solution without disrupting existing infrastructure or systems

 

To date, roughly 130 robots have been deployed, freeing up more than 193,000 hours per year for employees to focus on other tasks. We are seeing between a 9% and 33% improvement in decisional timeliness across processes and over 60% improvement in unit cost for transactions executed by robots, representing an overall 5% reduction in claims unit cost.

 

MetLife’s Short-Term Disability (STD) and Total Absence Management (TAM) claims are leading the adoption of RPA within MetLife and across the industry. A recent market scan by a third-party consulting company suggested that MetLife is one of only a few companies now ready to scale RPA across its product lines.

 

To date, MetLife has 11 processes implemented or close to implementation in its U.S. claims operations. Other processes are in production using RPA in MetLife’s Mexico and Japan claim operations. In the next 12 to 18 months, MetLife is projecting it will triple the number of robots supporting claims. 

 

These improvements have resulted in more timely and accurate claim decisions by claim professionals and, as a result, their time can be spent providing customers with better, more human service. Implementing RPA in the claims organization will continue to deliver significant value for customers and MetLife.

 

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About the Awards

The Business Transformation & Operational Excellence Awards have been established to showcase globally the most outstanding organizational achievements through the application of Operational Excellence programs. Click here to view the Press Release.

The winners for all categories and for The Platinum Awards will be announced at The Business Transformation & Operational Excellence Summit & Industry Awards on Wednesday March 20th, 2019, from 6.30pm, in the Venetian Ballroom at the Loews Portofino Bay Hotel at Universal Orlando Resort®. 

The Business Transformation & Operational Excellence Awards are open to all organizations, both private and public sector, across the globe, which have implemented Operational Excellence programs to deliver outstanding business results.

The 2019 Awards will be held in conjunction with the Business Transformation & Operational Excellence World Summit on March 20, 2019 in the Venetian Ballroom at the Loews Portofino Bay Hotel at Universal Orlando™

 

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BTOES.com

The issues in this article are just one of topic areas that are going to be discussed at the Business Transformation & Operational Excellence World Summit & Industry (BTOES19). March 18-22, 2019, Loews Portofino Bay Hotel at Universal Orlando Resort®

BTOES is the industry’s biggest and best, senior-level, cross-industry gathering of Business Transformation & Operational Excellence industry leaders and senior executives.

It also hosts the Business Transformation & Operational Excellence Awardswhich showcase globally the most outstanding organizational achievements through the application of Operational Excellence programs.

The summits hosts a number of private forums for C-Level & Global corporate-level leaders as well as business unit heads.

With over 150 speakers, over 100 sessions, 12 Keynotes, 9 Track Themes, 5 parallel tracks, 60+ track sessions, 50 roundtable discussions, 20 Interactive Workshops, 6 Thought Leader Panels, 5 Leaders Boardrooms, 5 co-located events, the Industry Awards Program, Site Visits, 20+ hours of social networking including 2 gala cocktail parties, dinners, numerous group activities, this is the ultimate event to benchmark, network and drive Operational Excellence to the next level.

 

Quick Links

Speakers

Agenda

BTOES19 Awards

 

There is a strong focus on Cultural Transformation, Customer Delight, Sustaining an Operational Excellence program, Need for end-to-end Business Transformation, Keeping up with new technologies/impact of digitalization and Leadership Buy-in & Understanding. We dedicated two tracks to advanced technologies, such as AI, Machine Learning, RPA, Predictive Analytics, Blockchain, Cloud infrastructure etc.

The agenda is designed to encourage active meaningful conversations though all day enhanced networking and interaction opportunities, including

  • All-day Refreshment & Themed Breaks

  • 1¼ Hour Hot Breakfast Networking Sessions

  • 1½ Hour Hot Plated Networking Lunches with Topic & Industry Sector focussed tables

  • 1½ Hour Roundtable Sessions by Topic & Industry Sector.

  • Keynote & Themes Panel Sessions

  • Hosted Welcome Receptions from 5.30pm

  • Expanded more lavish Awards Program

  • Newly launched Night Summit for attendees to meet after dinner

For more information or to discuss the summit in more detail please schedule a call below,

Click here to schedule a call. 


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