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MetLife (MET) Extends Solution to Aid Bangladesh Consumers

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MetLife, Inc. (MET - Free Report) recently introduced its innovative 360Health solution across Bangladesh to extend the solution to the country’s customers grappling with concerns induced by serious illness.

Shares of MetLife gained 0.2% in the last couple of days.

MetLife developed the solution in 2018 in co-ordination with well-established health-tech startups for deepening focus on helping customers and their families to navigate critical illnesses like cancer, dementia or heart disease.

The recent initiative of extending 360Health to Bangladesh marks the fourth Asian market in which the solution has been launched. Prior to this, the other Asian countries with access to this innovative solution included China, Korea, and Australia.

Now with the new app-based solution, Bangladesh customers can conduct an array of simple at-home health assessments, avail online medical consultations with general practitioners and specialists free of cost, and order medicines along with other vital health management devices.

MetLife’s solution remains noteworthy. Unlike the generic health and wellness solutions prevalent in the Asian market, 360Health stands out via its integration of insurance products with health services to offer a simplified and personalized experience to customers.

The launch of this solution comes at an opportune time, considering the increasing concerns over healthcare. It is worth mentioning that availing of healthcare services in case of serious illnesses often imposes humongous financial woes on consumers and their families. MetLife, by virtue of its cost-effective 360Health solution, can capitalize on the robust demand in Asia for reliable partner and solutions that goes beyond traditional insurance products to address one’s comprehensive needs.

Initiatives similar to the latest one are likely to bolster MetLife’s presence in Bangladesh. In fact, the country seems to be an attractive market for MET, courtesy of the sound growth prospects and a robust digital innovation currently underway in the region. To harness the region’s digital growth potential, MetLife’s unit MetLife Bangladesh (leading international life insurer of Bangladesh) joined forces with Citibank in September 2021 to offer a Host-to-Host (H2H) payment processing platform to aid customers of the country make online premium payments.

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 Asia. Also, MET remains committed to bringing about technological developments aimed aimed at offering a hassle-free insurance experience to its customers. These advancements are expected to result in cost savings, accelerate claim payments and pave the way for automation in processes, which are expected to drive the company’s margins in the days ahead.

Shares of MetLife gained 26.7% in a year compared with the industry’s growth of 3.5%. MET currently carries a Zacks Rank #3 (Hold).

Zacks Investment ResearchImage Source: Zacks Investment Research

Stocks to Consider

Some better-ranked stocks in the insurance space include Horace Mann Educators Corporation (HMN - Free Report) , Old Republic International Corporation (ORI - Free Report) and Chubb Limited (CB - Free Report) . While Horace Mann sports a Zacks Rank #1 (Strong Buy), Old Republic and Chubb carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Horace Mann’s earnings surpassed estimates in each of the last four quarters, the average surprise being 22.80%. The Zacks Consensus Estimate for HMN’s 2022 earnings suggests an improvement of 1.1% from the year-ago reported figure, while the same for revenues suggests growth of 1%. The consensus mark for 2022 earnings has moved north by 8.4% in the past 30 days. Horace Mann has a Value Score of A.

The bottom line of Old Republic outpaced earnings estimates in each of the last four quarters, the average surprise being 38.74%. The Zacks Consensus Estimate for ORI’s 2022 earnings has moved north by 3.7% in the past 30 days. Old Republic has a VGM Score of B.

Chubb’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.03%. The Zacks Consensus Estimate for CB’s 2022 earnings indicates a rise of 16% year over year, while the same for revenues suggests an improvement of 1.3%. The consensus mark has moved north by 0.4% in the past seven days. Chubb has a VGM Score of B.

Shares of Horace Mann, Old Republic and Chubb have gained 6.3%, 32.6% and 27%, respectively, in a year.