CLAIM #41182 · MetLife Inc (MET) · 2024Q2 earnings call · Aug 1, 2024 · due Sep 30, 2024
“With that in mind, we are at the vanguard of this topic, and we'll be issuing our policy on the responsible use of AI in the third quarter.”
Michel Khalaf · CEO
In context
“scale as a true differentiator relative to our competitors, which we believe will only get more impactful over time. There are many tools in our toolbox that will help drive this advantage forward, including artificial intelligence, or AI. From our standpoint, we believe MetLife's large pool of pool of data puts us in an advantaged position with AI having the potential to act as a force multiplier and further widen the divide in our favor, yet this is not just future talk. AI has been part of our playbook at MetLife for years, and we are seeing many initiatives move -- to implementation to create seamless and personalized customer experiences, improve decision-making and empower employees to focus on purposeful work. Be assured, we understand the power of AI commands great responsibility. With that in mind, we are at the vanguard of this topic, and we'll be issuing our policy on the responsible use of AI in the third quarter. Shifting to our business segment results, our leading Group Benefits business reported adjusted earnings of $533 million, representing an all-time quarterly record, as Group Life mortality experience snapped back from the seasonally impacted first quarter. Group Life mortality registered a benefit ratio of 79.1% in the second quarter. For the year-to-date period, the Group Life benefit ratio is now firmly at the lower end of our annual target range of 84% to 89%. Our growth strategy in the attractive Group Benefits space is twofold. On a national accounts basis, employers with greater than 5,000 employees, we are driving penetration across employer groups via new products and greater employee participation. On a regional accounts basis, employers with less than 5,000 employees, we are see”
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SEC filings for MET ↗ · Claim quote is verbatim from the 2024Q2 earnings call.