Sharing Insights and Helping Shape Policy
Taking a Global Leadership Role
We are active in a variety of trade associations, business coalitions and think tanks across the nearly 50 countries in which we operate globally. In many cases, we serve in a leadership role in these organizations. Through these groups and individually, we engage with policymakers to share our sector’s experiences and expertise.
AMERICAS: In the United States, MetLife produced research, in partnership with the Stanford Center on Longevity, identifying policies and infrastructure investments that can support more livable communities for aging people, an increasingly important issue as longevity increases in society.
In the United States and globally, we advocate for capital rules that are appropriate and sensible for the business of life insurance and promote fair, healthy and competitive markets for consumers. In Mexico, MetLife created and chaired a Financial Services Task Force that had the goal of addressing the challenges of financial inclusion and growth. It was the first group of its kind in an American Chamber of Commerce in Latin America.
As part of a public-private partnership, the Task Force assessed the challenges to increased access to financial services for lower-income people and made policy recommendations for increasing financial inclusion in Mexico.
ASIA: In Asia, our government relations and investment teams are working as part of the Asia-Pacific Financial Forum to promote increased investment by insurers in infrastructure projects. In many markets in the region and around the world, we provide capacity-building support and information on international best practices to help government officials improve regulation.
EMEA: MetLife participated in missions hosted by trade associations to Brussels, Poland, Romania and Turkey to share thoughts with leaders on the development of our sector in the region. In the U.K., MetLife has produced thought leadership reports on retirement in partnership with a leading retirement and investment expert. The reports offer market-based solutions that reflect changing attitudes toward retirement and protect against the risk of people outliving their pension savings.
Navigating the Complexity of Privacy Regulation
We support individuals’ rights to have their personal information managed securely. We have built comprehensive safeguards against the unauthorized release of sensitive information. At the same time, we need to be able to gather and retain the information necessary to offer and administer insurance and benefits products and services.
Many privacy regulations being written today relate very specifically to people’s use of the Internet and social media. As these new rules are being developed, MetLife engages with policymakers to ensure sufficient flexibility to meet our customers’ needs.
The rising restrictions on the flow of information across country and regional borders represent another facet of privacy regulation. As a global enterprise, part of our value to customers is the ability to work internationally. It is important for MetLife to work with governments to help develop cross-border data rules that allow us to continue to offer a broad array of products and services.
We are working diligently to coordinate with regulators to advocate for appropriate legislation. With our stringent internal controls and history of compliance, we are confident that we’ll be able to collectively create workable solutions to continue protecting data privacy.