Life insurance is an integral part of people’s lives, but a lack of awareness about it is a key factor that has held back the growth of the sector.
MET (formerly known as Alico) is the leading international life insurer in Bangladesh. It has been in operation since 1952 and serves over a million customers.
In the wake of increasing concerns triggered by serious illness, Metlife insurance bangladesh recently introduced its 360Health solution to empower customers in Bangladesh. The app-based solution enables customers to conduct simple at-home health assessments, order medicines and avail free virtual medical consultations with both general practitioners and specialists.
360Health is a first-of-its-kind health solution that combines insurance products and health services to help customers prevent, diagnose and manage serious illnesses through a simplified and personalized experience. It’s an intuitive and engaging solution that has been co-developed with leading-edge health-tech startups.
Developed in 2018, 360Health is based on insights gathered from close to 30,000 customers, and concentrates on five key serious illnesses of particular concern in Asia – cancer, heart disease, dementia, diabetes and mental health. By focusing on these conditions, it allows MET to differentiate itself by delivering relevant solutions and experience to address local priorities.
A leading life insurer in Bangladesh, MetLife Bangladesh offers a range of insurance solutions including insurance protection and retirement plans. Founded in 1952, it serves over a million customers and has 16,000 field force and employees.
As a major player in the financial sector, the company is dedicated to helping people understand their insurance options and confidently make progress in their financial lives. In order to address a wide range of consumer needs and improve their financial security, the company is working closely with Techstars mentors to bring innovative digital solutions to life through its Digital Accelerator program.
The program is designed to find and support startups that are focused on addressing the challenges that are critical to MetLife’s business priorities. In the first round, six startups were selected and they will work with MetLife leaders and Techstars mentors over a three-month period to develop and test their capabilities.
One of the companies selected is Cube, which uses Artificial Intelligence and Machine Learning to monitor regulatory changes and minimize the risk of compliance failures for insurers. This technology automates the capture of global regulatory data, alerts on any changes that may pose a compliance risk to businesses and pinpoints policies, procedures and controls that need to be updated to mitigate the risk.
Personalized Health Solutions
MetLife insurance bangladesh offers personalized health solutions to consumers across the country. These solutions aim to ease the burden of healthcare borne by individuals if they are diagnosed with serious illness like cancer, dementia or heart disease. These initiatives are expected to bolster the insurance industry in Bangladesh which is undergoing rapid development.
MetLife launched its 360Health solution in 2018 to address the complexities and challenges faced by customers who are suffering from critical illnesses. This app-based solution allows customers to perform a range of simple at-home health assessments, order medicines and access free virtual medical consultations with both general practitioners and specialists. The 360Health initiative has been extended to Bangladesh as the fourth Asian market in which it is available. The company is also partnering with a telehealth solution provider called Pops Diabetes Care to offer life insurance customers with diabetes a simple glucose meter that attaches to their smartphone to track their blood sugar levels.