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MetLife to Become Exclusive U.S. Employer Channel Distributor of Aura’s Digital Security Solutions
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NEW YORK & BOSTON--(BUSINESS WIRE)--
MetLife, Inc. (NYSE: MET) and Aura today announced a collaboration whereby MetLife will be the exclusive distributor of Aura’s digital security solutions in the employer channel. MetLife’s industry-leading U.S. Group Benefits platform reaches more than 50,000 employers and approximately 55 million eligible employees and their families. Adding Aura’s intelligent digital safety solutions is one more way that MetLife is responding to customer needs.
The collaboration between Aura and MetLife comes as the workforce prioritizes companies that provide a wide range of benefits and recognize their role in supporting employees’ holistic well-being. In fact, 51% of employees say that employers should play a greater role in the safety and protection of employees and their families, according to MetLife’s 2021 U.S. Employee Benefit Trends Study.
“We know employees want more benefits geared toward prevention and wellness. When we expand our portfolio of benefit offerings, we look for best-in-class providers who will help us protect the finances, wellness and now the digital health and safety of our customers and their families,” said Meredith Ryan-Reid, senior vice president, Financial Wellness & Innovation at MetLife. “Aura’s solution will help safeguard employees’ digital identity and provide peace of mind that what matters most is protected.”
As cybersecurity risks continue to rise for individuals, both companies have seen growing demand from employers looking to offer digital security benefits to their workforces. New data from the Identity Theft Resource Center shows the overall number of data compromises in 2021 was up more than 68 percent compared to 2020. This comes after a record year in 2020 for cyberattacks, with consumers losing more money to cybercrime than they did to home burglary.
“Over the last two years, we have seen surging demand for digital security solutions in response to a drastic increase in cybercrime,” said Hari Ravichandran, Founder and CEO of Aura. “By working with MetLife, Aura will be able to rapidly scale our operations and keep millions of Americans safe.”
BofA Securities acted as MetLife’s financial advisor in connection with this transaction.
About Aura
Aura, the leader in intelligent safety solutions, provides all-in-one digital protection for consumers. We understand that the online safety needs of each individual are unique and require a personalized solution. By bringing together security, privacy and parental controls on an intelligent platform, Aura makes adaptive and proactive digital safety accessible to everyone. Visit www.aura.com.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
Forward-Looking Statements
The forward-looking statements in this news release, such as “will” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to correct or update any of these statements.
