We constantly work on improving and evolving our products and services based on local market needs and customer demands. Here are a few examples:
New acquisitions and benefits expand coverages
MetLife acquired PetFirst Healthcare, a fast-growing pet health insurance administrator, in 2019. Founded in 2004, PetFirst covers more than 40,000 pets and has a built-in focus on community and support of local humane societies and shelters. With PetFirst’s acquisition, MetLife now offers a new benefit that continues to grow in popularity.
MetLife also acquired Bequest, Inc. (“Willing”), a digital estate planning service, which reinforces our commitment to providing simple and easy-to-use benefits that respond to consumer needs. Willing makes it easy to create a quality estate plan in as little as 15 minutes from anywhere. Since its inception in 2015, Willing has helped more than half a million families create important legal documents such as wills, trusts, and powers of attorney.
Strengthening our vision care offering
In 2020, in the U.S., we acquired Versant Health, one of the industry’s broadest networks of vision insurance providers and plan options, to strengthen and differentiate MetLife’s existing vision benefit offering. With the acquisition, MetLife became the third-largest U.S. vision insurer and gained access to Versant Health’s roughly 35 million members. Meanwhile, MetLife’s existing customers will benefit by gaining access to Versant Health’s extensive provider network, one of the largest in the industry.
SaverLife: Understanding the impact of COVID-19 on savings
MetLife Foundation also funded a study conducted by SaverLife, a nonprofit fintech organization that helps low-income working families achieve prosperity through savings. By incentivizing people to regularly save a small amount of money, SaverLife sees people take their savings accounts from empty to a small cushion to protect them from unexpected expenses. In 2020, SaverLife launched a new report in response to COVID-19 that offered insights into the financial impacts of remote schooling, savings rates, and how working families are bracing for an uncertain economic future.