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Enhancing Access

Enhancing Access

MetLife seeks to make insurance simple and accessible by offering useful products and services through convenient channels. We are achieving this objective by broadening access to affordable products and services, offering insurance to middle-class and disadvantaged populations in emerging markets, and establishing a presence in countries where protection products are difficult to obtain.

Putting Protection within Reach

In some markets, we have begun to provide insurance policies valued under USD$250,000, thus expanding the number of people who can afford our products. We are also exploring providing prodcuts and services for older individuals, who, in some cases, seek policies for as little as USD$5,000 to help cover medical expenses, credit card bills, and funeral costs.

In many of our markets, we distribute insurance through partnerships with banks, retailers, and mobile phone operators to increase access to insurance solutions. MetLife also develops partnerships with microfinance institutions. These institutions provide affordable financial products to people living in rural, low-income areas. Some examples of our global products that expand access are:

  • Life Insurance and Accident & Health Insurance in Columbia—MetLife provides access to insurance policies through the local gas utility, Empresas Publicas de Medellin
  • Credit Life in Nepal—MetLife offers Credit Life, which provides insurance on microloans through microfinance institutions, to economically disadvantaged people in Nepal.
  • Dollar Smart in Japan—MetLife launched enhanced interest-rate-sensitive life insurance policies for Japanese people frustrated with the low interest rate of the Yen.
  • MyDirect Auto Insurance in the United States—MetLife created this innovative, entirely digital product to make auto insurance fast, online, and convenient for the American market.
  • “Eve” Female Care Health Insurance in Lebanon—“Eve” is the only critical care product in Lebanon designed to empower women affected by cancer. MetLife designed this product to help women with medical costs and providing them with income if they are unable to work.
  • Term Life Insurance and Accident & Health Insurance in Italy—MetLife created this product to expand access to financial services and is a product with low fees and no additional cost for pay monthly. Many customers in Italy are only able to pay month-to-month, so this product gives them low-fee coverage.