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BTOES Insights Official
By
March 05, 2019

2019 AWARD FINALIST SPOTLIGHT: MetLife - Finalist in the Data Analytics enabling Operational Excellence Category

Read this article about MetLife, one of our finalists, in the category Best Achievement in Data Analytics enabling Operational Excellence, 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 is harnessing the power of data by incorporating data analytics into its processes across the claims lifecycle, enabling quicker and more accurate decisions and improved clinical outcomes for customers.

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Improving customer interactions

MetLife is helping its U.S. claims professionals become more empathetic and trusted partners for its customers with Cogito®, an artificial intelligence technology that acts as a coach – providing real-time alerts to help employees speak faster, slower or listen more – regardless of language or dialect.

Results from roll-out are promising, including:

  • 13% improvement in customer satisfaction scores month-over-month
  • 10% decrease in average claim handling time
  • 15% increase in customer engagement scores

 

MetLife has rolled out Cogito® to approximately 800 associates and estimates approximately 1,300 associates using Cogito® by Q3 2019. Teams are assessing whether to leverage this solution for its Mexico and Japan claims groups.

 

Simplifying the process for how we route claims

MetLife’s long-term disability (LTD) business processes more than 26,000 claims each year. Assigning the appropriate likely claim progression (LCP) to a new claim is a complex and lengthy task, which requires claims specialists to manually access and validate medical and other relevant data in order to make their decision.

 

To make the LCP identification process more efficient and consistent for customers and claims employees, the claims organization’s advanced analytics team introduced a machine learning solution that uses available data (e.g. medical data) to assign a LCP to each new claim shortly after it is received. Once the LCP is identified by the model, a claims specialist validates the data collected throughout the process, checks the customer’s eligibility, and makes a claim decision.

 

Early adoption of the LCP model has helped reduce the average time needed to make a claims decision by approximately 10%, which decreased the length of the overall process from approximately 38 to 34 days.

 

Reassessing our special handling unit for claims

The disability special handling unit (SHU) within MetLife reviews and manages approximately 48,000 long-duration LTD claims which typically have durations greater than 24 months. There are 24 case managers working these claims, with an estimated caseload of 2,000 claims per person.

 

Leveraging a data model, an analytics engine using AI, text analysis and Qlikview visualization techniques, the team was able to deliver a solution that provided “at-a-glance” views of variances and anomaly patterns within the data in one central dashboard. 

 

While it historically took a case manager approximately 45 minutes to complete a claim review, the new analytics-enabled solution produces the variance analysis in approximately three seconds. We’ve seen improved accuracy of variance detection and more accurate referrals from the SHU unit based on variances and the need for additional investigation.

 

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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.

 

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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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Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120