MetLife (MET) Unveils Solutions to Boost Footprint in Asia
MetLife, Inc. MET launched its innovative solutions across two new Asia markets. The first one is its digital healthcare solution 360Health unveiled in Nepal. The other one, the retirement solution 360Future, is introduced across Korea.
MetLife developed 360Health in 2018 to enable users to actively manage their health and enjoy a long healthy life. The solution can be availed through the One by MetLife app across Nepal, which marks its launch in the sixth market. The other nations wherein consumers have access to 360Health either via online or mobile apps included Australia, Bangladesh, China, Korea, and the United Arab Emirates.
MetLife clients in Nepal can now benefit from the ease and convenience offered by the digital healthcare solution. They can track their heart rate, blood pressure and health metrics, thanks to the Binah feature on the 360Health app. Essential services comprising appointment bookings, home testing, ambulance services, online doctor consultations and seeking an alternate opinion from international specialists can all be obtained from the comfort of one’s home.
360Future witnessed a successful launch in China last year and works by integrating retirement savings and insurance protection with health and wealth services. With the latest launch in Korea, it marks the first comprehensive retirement solution being unveiled across the country and can be accessed by MetLife clients via the customer service app MetLife One.
30 plus services, some of which are asset management, health management and life care, will be extended by 360Future to Korean customers. This, in turn, will impart them the strength to plan for retirement, enjoy a stable retirement life as well as provide healthcare assistance in illness to MET’s clients and their families.
In addition to this, the retirement solution will enable eligible MetLife policyholders in Korea to enjoy access to premium services such as disease prevention care, free caregiver services and one-on-one personal rehabilitation training. Meanwhile, it will furnish the elderly population with travel planning advice, which can be customized per the individual health condition.
The twin launches may lead to increased utilization of MetLife’s solutions, a solid foothold across Asia and fetch higher revenues to the insurer. The idea of combining the feature of health management with insurance protection in its solutions makes them stand out across their launch areas because they delve beyond traditional insurance products to address one’s comprehensive needs.
MetLife has been utilizing its exceptional capabilities and a solid financial position to constantly pursue buyouts and partnerships for unveiling revolutionary products and services throughout the globe.
Shares of MetLife have gained 15.2% in the past six months compared with the industry’s 12.6% growth. MET currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the insurance space are Arch Capital Group Ltd. ACGL, Everest Group, Ltd. EG and Primerica, Inc. PRI. Arch Capital currently sports a Zacks Rank #1 (Strong Buy), and Everest Group and Primerica carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Arch Capital outpaced estimates in each of the last four quarters, the average surprise being 26.83%. The Zacks Consensus Estimate for ACGL’s 2023 earnings suggests an improvement of 38.2%, while the consensus estimate for revenues indicates a 30.6% rise from the respective prior-year reported figures. The consensus mark for ACGL’s 2023 earnings has moved 7.7% north in the past 60 days.
Everest Group’s bottom line outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 17.36%. The Zacks Consensus Estimate for EG’s 2023 earnings indicates a 72.8% surge, while the consensus estimate for revenues indicates a 17.9% rise from the respective prior-year reported figures. The consensus mark for EG’s 2023 earnings has moved 8.2% north in the past 60 days.
The bottom line of Primerica outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 6.46%. The consensus estimate for PRI’s 2023 earnings suggests a 36.6% improvement, while the consensus estimate for revenues indicates a 3.1% rise from the respective prior-year reported figures. The consensus mark for PRI’s 2023 earnings has moved 2% north in the past 60 days.
Shares of Arch Capital, Everest Group and Primerica have gained 21.9%, 9% and 23.9%, respectively, in the past six months.
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