MetLife 2023 Sustainability Report: Promoting Financial Stability and Wellness

Rhea-AI Summary

MetLife's 2023 Sustainability Report highlights the company's efforts to promote financial stability and wellness. Key initiatives include:

• MetLife 360Health: Launched in Nepal and UAE in 2023, offering solutions for mental, physical, financial, and social health.
• 360Future: Expanded in Korea and China, providing retirement savings, insurance, health, and wealth services.
• U.S. Benefits Employee Care Enhancements: Collaboration with Nayya to improve benefits understanding and engagement.
• Expanded mental health solutions: Partnerships with Lyra Health and Empathy for comprehensive well-being services.
• MetLife Pet Insurance: Supporting long-term shelter stays and adoption events.

These initiatives aim to address customer needs, improve product offerings, and support overall wellness across various markets.

NORTHAMPTON, MA / ACCESSWIRE / August 8, 2024 / MetLife, Inc.
MetLife Sustainability Report

Part of building a more confident future is supporting our customers during difficult times, particularly when the health and wellness of their family is at stake. We strive to improve and evolve our products and services based on local market and customer needs. Many of MetLife's insurance products and services support wellness. These include dental, vision and health insurance, and products and services tailored to mental health, family care, accidents, disability and absence management, cancer and critical illness. The following examples highlight some of our most innovative product offerings. See our Sustainability Products and Services table for more information.

MetLife 360Health and 360Future

Created to help customers increase their healthspan, MetLife 360Health offers solutions that address mental, physical, financial and social health through a focus on the five key aspects of managing critical illnesses: prevention, early diagnosis, access to treatment, ongoing care and financial protection. Users can access services through the mobile app and online portals, including artificial intelligence (AI)-backed health assessments, diabetes risk monitoring, exercise and nutrition tips, online doctor consultations and prescription deliveries.

We launched MetLife 360Health in Nepal and the United Arab Emirates (UAE) in 2023, joining existing markets Australia, Bangladesh, China and Korea. Across Asia, more than 1 million digital users have downloaded the MetLife 360Health app, and it has won more than 30 awards since its launch. The UAE launch focused on mindfulness, health risk assessment, nutrition/calorie tracking, a symptom checker, guided meditations and physical and mental health articles.

360Future helps customers prepare early for retirement and supports them as they age, with retirement savings, insurance, health and wealth services. MetLife began offering 360Future in Korea in 2023 with more than 30 services to help customers enhance quality of life in retirement while providing healthcare support during illness. In China, we expanded our existing 360Future services to include a personal pension insurance product, women's menopausal healthcare consultations and ophthalmic screenings, in addition to support for medical appointments, home healthcare guidance and retirement planning.

U.S. Benefits Employee Care Enhancements

According to research from MetLife's 2023 U.S. Employee Benefit Trends Study (EBTS), both employees and employers could benefit from clarity and understanding around benefits packages.¹ The study found:

• 45% of U.S. employees say there are elements of their benefits package they do not fully understand;

• 62% of U.S. employees say understanding how to use their benefits would give them a greater sense of overall stability; and

• 50% of U.S. employees say understanding how to use their benefits would make them more loyal to their employer.

To help with this problem, MetLife has teamed with Nayya, a leading digital provider of benefits decision support and engagement. Nayya's capabilities are offered by MetLife for education purposes through Upwise™, MetLife's benefits engagement platform, which makes recommendations to employees on their benefits.² This strategic collaboration will empower millions of employees to make the most of employer offerings by choosing and using benefits that support their individual and evolving needs.

We have expanded access to workforce mental health solutions, supporting employers to offer employee assistance programs, including the following new collaborations:

• Lyra Health, a provider of global workforce mental health solutions. When a customer contracts directly with Lyra Health, MetLife can integrate our claims process so that, at time of claim, employees get access to more comprehensive well-being services.

• Empathy, a third-party provider helping families navigate the experiences associated with loss. As part of MetLife's Beneficiary Claims Concierge Services, when employees enroll in MetLife's group life insurance, their beneficiaries have access to Empathy's bereavement care platform, providing support to millions following the loss of a loved one.³

MetLife Pet Insurance Supports Pup's Long‑Term Shelter Stay

Ginny, a five-year-old pit bull mix was at the Lexington Humane Society's (LHS) shelter in Lexington, Kentucky, for 1,000 days, as LHS struggled to find someone to adopt her. She was harder to place than other shelter dogs, requiring a family without children or other animals. But fortunately, Ginny was finally adopted.

Ginny's long stay at the shelter was made possible by MetLife Pet Insurance's collaboration with shelters, through which we provide support, including sponsoring walks, adoption events and long-stay residents. LHS was one of the first shelters we teamed up with, and we've been working together for 11 years. Ginny's successful adoption is one of many happy stories from our shelter partners.

_{^1. See the latest EBTS report.}

_{^2. We are the exclusive insurance carrier to offer Nayya's capabilities to employers with more than 1,000 U.S. employees.}

_{^3. Empathy is not available for customers situated in New York, or principally located in New York.}

Download the full MetLife 2023 Sustainability Report

MetLife 360Health offers access to services through the mobile app and online portals.

View additional multimedia and more ESG storytelling from MetLife, Inc. on 3blmedia.com.

Contact Info:
Spokesperson: MetLife, Inc.
Website: https://www.3blmedia.com/profiles/metlife-inc
Email: info@3blmedia.com

SOURCE: MetLife, Inc.

View the original press release on accesswire.com

FAQ

What new markets did MetLife launch 360Health in during 2023?

MetLife launched 360Health in Nepal and the United Arab Emirates (UAE) in 2023, joining existing markets in Australia, Bangladesh, China, and Korea.

How many digital users have downloaded the MetLife 360Health app in Asia?

More than 1 million digital users have downloaded the MetLife 360Health app across Asia.

What new services did MetLife introduce with 360Future in Korea in 2023?

MetLife began offering 360Future in Korea in 2023 with more than 30 services to help customers enhance quality of life in retirement while providing healthcare support during illness.

Which company did MetLife partner with to improve benefits understanding for U.S. employees?

MetLife partnered with Nayya, a leading digital provider of benefits decision support and engagement, to help employees better understand and use their benefits.

How is MetLife supporting mental health solutions for employees?

MetLife expanded access to workforce mental health solutions by collaborating with Lyra Health for comprehensive well-being services and Empathy for bereavement care support.