MetLife, Inc. (NYSE: MET) announced that it was recognized with awards for its Advanced Data Analytics program by Enterprise Innovation at a gala event held at Singapore’s Mandarin Orchard Hotel on November 24th. On top of garnering the “Enterprise Innovators” award for the insurance industry, the company also outran a variety of companies from all industries and was awarded the overall “Innovator of the Year” award.
“MetLife is delighted to be recognized for advancing the use of data analytics in our industry to better serve the needs and aspirations of our customers in Asia and around the world,” said Ralph Brunner, SVP, Global Marketing Strategy, Advanced Data Analytics. “We are working hard to transform ‘big data’ into useful customer insights to create differentiated and personalized products, services, and customer experiences. We would like to thank the panel of judges and Enterprise Innovation for this recognition.”
MetLife Asia established its Center of Excellence for Data Analytics (COEDA) in 2014 to transform big data into customer insights, deliver a more holistic customer experience, and drive incremental profit for the enterprise. Since then, MetLife’s COEDA has worked relentlessly to create competitive advantage for the company by scaling up its advanced data analytics capability and adopting best practices from the insurance industry and beyond.
During the course of 2016, MetLife has received a number of awards for its innovation in data analytics and product development that enhance the lives of customers, including the Asia Insurance Industry Awards, The International Business Awards, Celent’s Model Insurer Asia 2016 & Data Mastery and Analytics Award and the 2016 Asia-Pacific Stevie® Awards.
The Enterprise Innovation Awards are hosted by Enterprise Innovation. The annual awards acknowledge organizations in Asia that innovate through the use of technology and best-practices business processes. Project submissions were reviewed by a judging panel, which measured nominees by six criteria such as business performance/revenue impact, cost savings, technological innovation and other criteria.