MetLife: A Global Provider of Insurance and Annuities

This report provides a complete analysis of MetLife, a global provider of insurance and annuities, including its operations and strategies in India and other foreign countries. It covers the target customers, products and services, and recommendations for improving insurance awareness.

Running Head: MetLife
Global business assignment

MetLife 1
Table of Contents
Introduction...........................................................................................................................................2
Findings.................................................................................................................................................2
Country Background..........................................................................................................................3
The Company’s business in the selected country...............................................................................4
Discussion.............................................................................................................................................5
Conclusion.............................................................................................................................................8
Recommendation...................................................................................................................................9
References...........................................................................................................................................10

MetLife 2
Introduction
PNB MetLife is a trusted organization that offers retirement benefit alongside disaster
protection strategy. The organization development was quick as it disseminated through
multi-channels by enabling more than a large number of clients to be as one. This report
covers the complete study of all the findings related to its growth and its market place
operations. In the report the country that is considered is India. The growth of MetLife in
India has gained growth as people are value about security of their life. MetLife likewise give
the administration of significant sickness by providing a premium back up plan. There are
additionally a portion of the plans and techniques that are made accessible for assurance for
your family. There are different kind of approaches used for their instruction as the vast
majority of the working class family have absence of cash with the goal that giving those kids
a stage MetLife gives a kids' training strategy. It offers a retirement sparing arrangement to
secure the life of people and their family after retirement that is in their maturity (Latimer,
2013). There is likewise an existence insurance design accessible for riches design. This
report also covers the recommendations that need to be adapted my MetLife to gain future
benefits. The business has been expanded in many foreign countries that is offering benefits
in their profit margin.
Findings
MetLife is an organisation that basically deals with all the metropolitan life insurance
company. It is considered as one of the global provider for services like insurance and
annuities by launching various programs for employee benefits. They are spread over 60
countries with around 90 million customers engaged with its services. The organisation was
first launched in the market in 1868. Met life is expanded in various countries like Japan,
United States, Europe and many middle list companies. MetLife offers various services like
life insurance, dental services and various other products and services. The main service is
life insurance products that assure permanent safety. The company guarantees that support is
provided to people by offering them interest contracts by offering valuable options by
defining contribution plans. The Company deals with both traditional and non-traditional life
insurance products like long term life security service, donations, universal and variable life
security for individual as well as group products (Girasa, 2016). They also offer personal
benefits related to health and also offering them medical plans by covering all the emergency

MetLife 3
conditions. They have covered various countries by offering life security in intentional
market as well. It is an Indian company that offers both fixed and variable annuity in
international market also. They also maintain a representative office in Myanmar, Singapore
and data analytics centre in Malaysia. The company brings together the financial strength by
boosting up the credibility and reliability (Chi, Ming & Yung-Ho, 2016). It is one of the
oldest companies of India. PNB MetLife is a trusted company that offer retirement service
along with life insurance policy. The company growth was rapid as it distributed through
multi- channels by allowing more than millions of customers to be together. There are many
other life insurance companies but MetLife has gained trust and loyalty from last 6 years.
PNB MetLife offers family protection, wealth management, retirement as well as child
education (Cheng, Davis & Rowe, 2017).
Country Background
The home country of MetLife is India and they offer insurance, retirement and saving
solutions all over the world. They have expanded the business in international market also. It
is a leading global company with total revenue of around 63.48 million. MetLife works in
nearly 50 countries that hold a good market position in the America, Asia, Europe and the
Middle East (Bhat & Dar, 2017). The business environment of India offers various benefits as
it is a demographic country in which 65 per cent of the youth that helps in driving the force.
The business environment of MetLife in India is easy as people are concerned for their life
and need insurance for secure their life.
The business environment of MetLife in India is stable due to its political
environment. The political culture is the main factor that it attracts foreign direct investment.
India is a country where middle class people first give priority to secure their life and have a
secure future plan (Joshi & Takodia, 2017). For such reason they believe in insurance and
following such policies. The future of such industries that is life insurance have changed
several framework that will lead to further change and engages with its customers. The
penetration rate of insurance in India is around 3.42 per cent which helps the market to get
expanded easily. It is expected to expand in the country in next 10 years. The factor of
growth in Indian market is that the middle class population as awareness regarding the need
to defend their life and have a secure plan (Joshi & Takodia, 2017). The target market could
be old age people, individual that have children’s dependent on them.

MetLife 4
The Company’s business in the selected country
The company has various products and services that are offered by the company.
There are various key plans. They have a saving plan designed to making sure they back up
plan are set regarding the security. There is a MetLife back plan to keep the money back up at
regular interval so that in case of emergency it could be used. MetLife also provide the
service of major illness premium back cover that act as saviour for people who suffer from
illness. There are also some of the plans and strategies that are made available for protection
for your family. There are various children policies for their education as most of the middle
class family have lack of money so that giving those children a platform MetLife provides a
children’s education policy (Lawrence, Kleinman & Lawrence, 2016). It offer a retirement
saving plan to secure the life of individuals and their family after retirement that is in their
old age. There is also a life protection plan available for wealth plan.
MetLife is divided into five segments US, America, Asia, Europe and East countries.
The operations of MetLife operations cove the home loans that help in increasing up the
overall revenue. It also provides a wide range of financial services and insurance by
protecting the property, liabilities by saving the product of individual. The performance of the
company depends upon the sales and marketing. They target millions of customers via the
network of targeting the sales force. The customers used various agencies to promote their
services (Dam, 2017). There are various brokers who deal with all the marketing. Promotion
is done using direct response of television, web based promotion to attract generations,
telemarketing as well as third party users. MetLife sells the product by various groups and
employees.
They used various strategies used by MetLife by expanding the business into
international market. They have started to launch the operation in all the geographic lines.
They also focus on the fact to enhance the performance by considering all the competitive
prices, boosting the distribution channels and services (Lu, Wang & Kweh, 2014). They
strive to make our products and services simple and accessible. They enhance the awareness
of all the financial services so that more people can access from any place. The main motive
behind such services is that people pursue more from life.
MetLife is a company that focus on the importance of maintaining a good relation
with all its customers. It is one of the world’s largest organisations that deal with insurance
sector. This is achieved by using marketing strategies that is done by advertising through

MetLife 5
social media. They use all kind of promotion from printing in newspapers, magazines to
promoting the services on social media site. They also make use of commercial TV series or
social media marketing of direct selling and capturing more customers (Millard, 2013). They
interact with all the customers by helping them to choose best plans as per their needs.
MetLife improve their supply chain by advertising and offering high customer
satisfaction by various methods. They help customers to come with new innovative ideas by
designing better solutions. Some of the tools that are used by MetLife to improve the
workforce environment of MetLife is improving customer centricity attitude at the workforce.
They also invest in high technology for operational efficiency (Leepsa & Singh, 2016). They
make use of Big Data to provide access to virtual kind of efforts like free mobile applications.
Discussion
MetLife is approximately saving life of more than 100 million customers. It is a subsidiary
that is used to provide life insurance, asset management and employee benefits. They ensure
long term security to an individual by matching their needs with the protection. They help
customers by helping them to achieve financial resources. They support programs by
promoting financial inclusion. They make use of various strategic goals in which they adopt
natural marketing like promoting services to those people who are in need. They design
innovated plans to enhance the efficiency. The OLI framework could be used to study the
foreign direct investment as it provides a way to think about other international enterprise.
OLI stands for ownership, location as well as internalization. These three factors help
company to get the growth in foreign country (Weston & Willey, 2016). The home market of
MetLife is India and there are many foreign markets where MetLife is gaining success.
Ownership helps MetLife to expand their existence in international market. They build up the
competitive advantage by improving the efficiency of plans and making it flexible and easy
for customers (Shetty & Basri, 2018). They also make use of strategies like global
standardisation, localisation, transactional strategies or home replacement.
MetLife also face barriers while expanding their business in forging market like there
is a pricing issue that is they face problem in terms of currency (Bawa & Dhanda, 2016). The
communication gap is also one such issue that is faced while trading in international market.
MetLife is an insurance company thus it is important to maintain the quality and build up
trust among the customers (Acharya, Philippon & Richardson, 2016). Brand loyalty is

MetLife 6
important to manage the business. The company strategies mainly work on capturing that
audience who need security in their life.
The company MetLife works on the strategies of offering online insurance service by
providing free advocates to find loyal customers. The advocate influence people to purchase
an insurance policy. The target market is analysed and divided according to the priorities and
then implement the plans according to the target groups. MetLife enhance their production
network by publicizing and offering high consumer loyalty by different techniques. They
assist clients with coming with new creative thoughts by outlining better arrangements. A
portion of the devices that are utilized by MetLife to enhance the workforce condition of
MetLife is enhancing client centricity mentality at the workforce. They likewise put resources
into high innovation for operational proficiency. They make utilization of Big Data to give
access to virtual sort of endeavours like free versatile applications.
MetLife offer various product wise retirement schemes that has helping in targeting
audience. MetLife has made retirement, health and accidental life insurance policies for
customers from countries like America, Asia and Europe. They focus on explaining all eh
strategies and plans by following a step by step process. They have liked their services with
various schemes and also offer IRA benefits. They basically deal with investment links and
income annuities. They decide the enrolment scheme by analysing the entire scenario.
MetLife make use of various tools to find out the need to save premiums, interests and
compounds (Kane, 2017). They help employee to calculate in all the directions so that plans
are calculated accordingly. The customers that are involved in MetLife services are
individuals, businesses, brokers and consultants. If considering the case of geographically
concern of MetLife it is operating in New York from a long time and has gathered clients by
offering them variety of insurance pans V. They add by flexibility among customers by
permitting them to ask for a query and receive information from the site immediate this helps
in building trust.
The relation enhanced using MetLife has shown up how to build close relationship
and keep personal contact with clients for future growth. They have also made feedback
options available so that customers can add line of comments and feedback so that customer
satisfaction can be evaluated. MetLife uses various technologies to drive the stakeholders and
they are planning to increase their earnings by leveraging the scale to improve the values it
provides to clients as well as shareholders (Rountree, 2016).

MetLife 7

MetLife 8
Conclusion
In this report the complete analyses is done regarding MetLife and a complete
description regarding MetLife and the market place of the company has been discussed. The
overview of business environment along with one foreign country has been done. The target
customers of MetLife have been analysed. The business of MetLife in India along with some
of the foreign countries has been discussed. This report also covers the operation and
strategies used by MetLife along with the promotion used have been discussed. Thus it can be
easily concluded that MetLife will gain importance as it’s an insurance which provide life
security in later life. Not only life security but there is various plans available to secure the
lifestyle. They have plans for an individual, children’s, compete family, business as well as
personal asserts. This report covers the complete study of MetLife and its operations and
strategies.

MetLife 9
Recommendation
It is recommended that MetLife should have proper knowledge of all the agents so
that young people become aware of all the plans and policies that are available. The insurance
awareness is very poor at some places so it is recommended that insurance awareness is
increased so that agents could also perform their jobs properly to make people aware about
life insurance. It is also recommended that they should maintain clear transparency regarding
all the plans so that a loyalty is developed among clients. They sell insurance policies to
protect all the insurance against financial losses. Thus plans need to be designed to accept the
risk of the insured, collect premiums, and all the losses.

MetLife 10
References
Acharya, V. V., Philippon, T., & Richardson, M. (2016). Measuring systemic risk for
insurance companies. The economics, regulation, and systemic risk of insurance
markets, 100.
Aktar, S. (2015). Factors Influencing Employees' Work Performance in Insurance Company:
A Case Study on MetLife Alico in Bangladesh. ASA University Review, 9(2).
Bawa, N., & Dhanda, N. (2016). An analytical study on asset under management of life
insurance companies in india. Journal of Services Research, 16(1), 61.
Bhat, I. H., & Dar, S. A. (2017). A Study on Factors Influencing Customer Satisfaction for an
Indian Life Insurance Company with Reference to Kashmir. International Journal of
Information, Business and Management, 9(4), 295.
Cheng, C., Davis, C. A., & Rowe, D. J. (2017). Accommodations for the Limited English
Proficient Patients in Clinics Associated with California Dental Hygiene Educational
Programs. Journal of the California Dental Hygienists' Association, 34(4).
Chi-Ai, L., Ming-Kuang, S., & Yung-Ho, C. (2016). Evaluating the Operational Efficiency of
Life Insurance Companies in Taiwan–An Application of the Dynamic Network SBM
Model. Applied Economics and Finance, 4(1), 18-33.
Dam, L. (2017). Comparative Analysis of Life Insurance Sector in India with BRIC Nations.
Girasa, R. (2016). Insurance Companies as SIFIs: The MetLife Inc. Litigation. In Shadow
Banking (pp. 231-278). Palgrave Macmillan, Cham.
Joshi, M., & Takodia, T. (2017). A Study of Recent Trend and Awareness & Preferences in
Life Insurance Sector in India.
Kane, G. C. (2017). MetLife Centers Its Strategy on Digital Transformation. MIT Sloan
Management Review, 59(1).
Latimer. R. (2013). MetLife Inc. (MET). Retrieved from http://www.unm.edu/~maj/Security
%20Analysis/Fall%202012%20Analyst%20Reports/MET.pdf.

MetLife 11
Lawrence, K. D., Kleinman, G., & Lawrence, S. M. (2016). Forecasting the Operating
Income of Metlife. In Advances in Business and Management Forecasting (pp. 163-
167). Emerald Group Publishing Limited.
Leepsa, N. M., & Singh, R. (2016). The Impact of Acquisition of an Insurance Company on
Bank's Financial Performance: A Study on the Acquisition of Metlife India Insurance
Co. Ltd. By Punjab National Bank. IUP Journal of Bank Management, 15(3), 52.
Lu, W. M., Wang, W. K., & Kweh, Q. L. (2014). Intellectual capital and performance in the
Chinese life insurance industry. Omega, 42(1), 65-74.
Millard. S. (2013). MetLife is delivering well in the strategy front. Retrieved from
https://marketrealist.com/2015/02/metlife-delivering-well-strategy-front.
Rountree. J. (2016). RISKY BUSINESS. Retrieved from
https://repository.usfca.edu/cgi/viewcontent.cgi?article=1021&context=capstone.
Shetty, A., & Basri, S. (2018). Assessing the Technical Efficiency of Traditional and
Corporate Agents in Indian Life Insurance Industry: Slack-based Data Envelopment
Analysis Approach. Global Business Review, 0972150917749722.
Weston, H., & Willey, S. (2016). Life Insurers’ Decision to Use Retained Asset Accounts for
Life Insurance Payouts: A Case Study. Risk Management and Insurance
Review, 19(1), 127-145.