18 April 2018

How MetLife is extending insights reach

MetLife is on a journey to become a more high-performing, customer-led, and modern brand. To do so, the firm has deployed a marketing insights platform – the Insights Engine – which is powered by Market Logic, to deliver fast and easy-to-access customer and market insights from around the globe.

The platform was recently presented at the ESOMAR LATAM conference in Buenos Aires, where Flynt Tuller, MetLife AVP Global Marketing Sciences, and Carolina Erlich, MetLife Marketing Sciences Leader in LATAM, took their audience through the company’s knowledge management and insights strategy.

Why the Insights Engine?

As one of the world’s leading financial services firms, MetLife holds leading market positions in USA, Japan, Latin America, Asia, Europe and the Middle East, and is acquiring businesses to expand revenue and geographic footprint. Fast expansion is increasing the need to integrate and activate knowledge across businesses and geographies.

Around the globe, change is happening faster than ever before. This is particularly true in the financial services sector. As Flynt explains, “MetLife has conducted research among over 55,000 customers worldwide and found one universal truth: consumers are overwhelmed with the pace of change and are looking for a trusted partner to help them navigate these changes.

As MetLife continues its journey to become a more customer-centric organization, we wanted to put our staff in the best possible position to do so.”

Enter the Insights Engine, leveraging Market Logic’s cognitive insights platform.

The Insights Engine is a knowledge sharing platform that is enabling MetLife to answer specific business questions, break knowledge silos, and stay ahead of trends and competitors by promoting and sharing information across the organization.

• Insights are mined from multiple sources, including:
• MetLife proprietary market and competitive research
• MetLife operational information (e.g. Net Promoter Score)
• External research reports and white papers from leading experts and curated sources
• Daily news feeds on the market and competitive activities and events

Changing the way MetLife operates

When presenting at ESOMAR, Flynt and Carolina described their newly adopted solution as a: “best-in-class knowledge management platform provided by Market Logic Software, the Insights Engine uses artificial intelligence and cognitive computing to connect and maximize MetLife insights for brand and business strategies, customer value propositions, product development, customer experience, and competitive intelligence.”

They also shared observations on the cultural changes in the use of insights across MetLife that have emerged as a result of the deployment. MetLife Marketing Sciences is now able to:

• Enhance the ability to explore, find, activate and share insights
• Integrate and solve diverse customer and market questions with increased efficiency
• Stay up-to-date and get ahead of the curve by accessing the latest trends and CI
• Increase and improve collaboration across regions and functions
• Optimize the research and analytics project pipeline, managing for effectiveness and efficiency

Looking forward

So, what’s next for MetLife? Flynt and Carolina described the next phase in their journey as follows:

“For the Marketing Sciences team and the MetLife community in general, having a platform like the Insights Engine to use for project management and collaboration, to stay up-to-date on insights, and to use to curate and share content across MetLife is a game-changer. Ultimately, our intent is to make the Insights Engine a key part of MetLife’s culture and be a key asset in helping the company deliver on its noble purpose of ‘navigating life’ together.”