Careers at MetLife

Mission

MetLife provides a range of insurance coverage products, with a view to providing effective and reliable insurance protection to consumers, corporations, and institutions.

Business segments

MetLife organises its operations into six business segments:

  • Retail, which comprises the Company’s domestic provision of variable life, universal life, term life and whole life products, and individual disability income products and personal lines property and casualty insurance, as well as a variety of variable and fixed annuities;
  • Group, Voluntary, and Worksite Benefits, which comprises the Company’s domestic provision of life, dental, group short and long-term disability, property and casualty, long-term care, accidental death and dismemberment, critical illness, vision and accident and health coverages, as well as prepaid legal plans and administrative services;
  • Corporate Benefit Funding, which comprises the Company’s provision of funding and financing solutions that help institutional customers mitigate and manage liabilities, associated primarily with qualified, nonqualified and welfare employee benefit programs;
  • Latin America, which comprises the Company’s provision of group and individual products sold through sponsoring organisations, affinity groups and direct to consumer channels, primarily in Mexico and Chile;
  • Asia, comprising the Company’s provision of life, accident and health, retirement and savings, and credit insurance products across Asia, in particular in Japan, Korea, China, Australia, and Bangladesh; and
  • Europe, the Middle East and Africa, comprising the Company’s provision of life insurance, accident and health insurance, retirement and savings products, and credit insurance products across parts of Europe, the Middle East and Africa.

MetLife’s Retail, Corporate Benefit Funding, Latin America, and Group, Voluntary and Worksite Benefits segments are collectively known as the Americas.

History

MetLife traces its history back to 1863 when a group of businessmen raised $100,000 to found the National Union Life and Limb Insurance Company, which insured Civil War sailors and soldiers against disabilities due to wartime wounds, accidents, and sickness. The Company became known as Metropolitan Life Insurance Company in 1868 and began to focus primarily on life insurance products.

MetLife had difficulty gaining traction in its early years, but began to grow its operations after the decision to provide workingmen’s insurance programs modelled on those provided in the UK. Sales of these policies exceeded 250,000 by 1880, and by 1909 MetLife was considered the largest life insurer in the US. The Company has since expanded its operations and product portfolio significantly, offering services to customers across 40 countries worldwide.

MetLife is among the largest insurance providers in the world. It is ranked 40th on the Fortune 500 list. It trades shares on the New York Stock Exchange and has a current market capitalisation of $51.46 billion.

Benefits at MetLife

Business model of MetLife

Customer Segments

MetLife provides a broad range of insurance products, serving approximately 100 million customers across multiple business sectors in more than 40 jurisdictions around the world. The Company’s customers can be organised into three principal categories:

  • Consumers, comprising individuals, families, and groups;
  • Corporations, comprising various medium and large commercial and corporate entities across multiple business sectors; and
  • Institutions, comprising large national and regional institutions.

The Company’s annuities business additionally offers a variety of variable and fixed annuities that are primarily sold to individuals and tax-qualified groups specifically in the education, healthcare and not-for-profit sectors. Revenues derived from any single customer did not exceed 10% of the Company’s revenue in any one of the past three years.

The bulk of MetLife’s business is conducted in North America, which accounts for the majority of the Company’s annual revenue. The Company, however, also serves an international customer base, doing business across Latin America, Asia Pacific, and Europe, Middle East and Africa.

Value Propositions

MetLife provides value to its customers in the following ways:

  • Its broad portfolio of products and services, with the Company offering abroad range of insurance products and services, including life, disability, property and casualty, dental, long-term care, accident, and health coverage to consumers and corporations;
  • Its international sales reach, with the Company offering its portfolio of products to customers in more than 40 countries spread across the Americas, Asia Pacific, Europe, Africa, and the Middle East;
  • Its accessibility and flexibility, with the Company utilising various technology and delivery platforms, including an online customer portal, that enable customers to access products and services at work, at home, or on the go;
  • Its product innovation process, with the Company seeking to develop innovative solutions for its customers that cover the unique challenges and needs in each market that it serves; and
  • Its customer service, with the Company providing ongoing support to its customers through various support channels, as well as providing abroad range of resources.

Channels

MetLife operates a website at www.MetLife.com, through which it provides information on various products, services, and activities. Customers are also able to obtain tailored rate quotes and find information on nearby provides through the MetLife website. The Company additionally operates an online customer portal, which allows customers to manage their accounts, make payments, and monitor policies, and iOS and Android mobile apps.

MetLife makes sales through a number of dedicated sales teams that operate out of the Company’s various offices and international branches, including a physical presence across operating jurisdictions in Latin America, Asia Pacific, Europe, Africa, and the Middle East. The Company also markets its personal lines property and casualty insurance products directly to employees at their employer’s worksite.

MetLife also works with a network of independent and third-party distributors. This includes independent agents, property and casualty specialists, general agencies, financial advisors, consultants, brokerage agencies, and other independent marketing organisations under contractual arrangements with the support of wholesalers. Additionally, wholesalers sell products through financial intermediaries, including regional broker-dealers, brokerage firms, financial planners and banks. International sales are also made via sponsoring organisations and affinity groups.

Customer Relationships

MetLife provides a range of services to customers on a self-service basis through its website and online customer portal. These channels enable customers manage and alter their account details, make transfers and payments, and access resources without interacting with members of the Company’s sales and support personnel. Customer can access similar functions independently via the MetLife mobile app.

MetLife provides personalised quotes and tailored services to its consumer, commercial, and institutional customers, with its sales personnel consulting directly with clients to ensure that their individual needs are met. The Company in particular maintains long-standing relationships with many of the largest corporate employers in the US, working closely with them over extended periods to provide appropriate coverage for employees. These larger customers are afforded their own relationship managers and account teams.

MetLife provides ongoing support services, with customers able to contact dedicated support teams over the phone or via email, in order to receive personalised assistance. The Company also provides a range of online resources, including lists of authorised brokers, a library or relevant forms, and FAQs. Customers are also able to follow and interact with the Company through its social media accounts, including with Facebook, Twitter, YouTube, and LinkedIn.

Key Activities

MetLife is a provider of life insurance, annuities, employee benefits and asset management services to general consumers, corporate entities, and institutions. The Company aligns its operations into six business segments: Retail; which is organised into two businesses, Life and Other and Annuities, and provides a full suite of life insurance products and services;

Group, Voluntary and Worksite Benefits, which includes life, dental, property and casualty, long-term care, accidental death and dismemberment, critical illness, vision, and accident and health coverages; Corporate Benefit Funding, which provides funding and financing solutions that help institutional customers manage liabilities; Latin America, which covers the Company’s activities in Latin America; Asia, which covers the Company’s activities in Asia Pacific; and Europe, the Middle East and Africa, which covers the Company’s activities in the rest of the world.

Key Partners

MetLife works in conjunction with a range of companies and organisations across its operating segments. These partners include:

  • Supplier and Vendor Partners, comprising suppliers of services, equipment, and technologies that are utilised across the Company’s various segments in support of the Company’s core operations;
  • Channel and Distribution Partners, comprising the Company’s network of intermediaries, including agents, independent financial advisors, consultants, brokerage agencies, and other independent marketing organisations that extend the Company’s marketing and sales reach, particularly in foreign jurisdictions;
  • Joint Venture Partners, comprising various other insurance providers and related companies, with which the Company provides services and products through mutually owned entities; and
  • Strategic and Alliance Partners, comprising companies from various sectors, with which the Company shares certain resources and collaborates on joint projects.

MetLife has stablished a number of partnerships in recent years. This includes a deal with Lyft to provide auto insurance, and a partnership with PGA Tour to support its global expansion and marketing.

Key Resources

MetLife’s key resources are its brand and intellectual properties, its technology and online platform, its It and communications infrastructure, its network of intermediaries and third-party agents, its in-house sales and marketing infrastructure, its partnerships, and its personnel.

MetLife owns and or leases a number of physical properties across the US and abroad, principally comprising office space. The Company relies on a combination of contractual rights with third parties and copyright, trademark, patent and trade secret laws to establish and protect its intellectual property. Searches of records published by the US Patent and Trademark Office, however, identified no patent applications filed in MetLife’s name.

Cost Structure

MetLife incurs costs in relation to the development of its digital channels and technology platform, the maintenance of its IT and communications infrastructure, the management of its network of intermediaries, the implementation of marketing and advertising campaigns, the procurement of professional services, and the retention of its personnel. In 2015 the Company’s largest cost related to the fulfilment of customer benefits and claims, which amounted to $38.71 billion.

Revenue Streams

MetLife generates revenue through the collection of fees and premiums associated with its various insurance coverage products and services. In 2015 MetLife generated annual revenue of $69.95 billion, down on the $73.32 billion recorded by the Company in 2014. Premiums comprised around $38.55 billion of this revenue, with investment comprising the bulk of the remainder, $19.28 billion. The Company’s largest revenue generator was its Retail segment, which accounted for $20.96 billion in annual revenue.

Our team

Steven Kandarian,
Chairman, President, and Chief Executive Officer

info: Steven Kandarian (“Kandarian”) has served as Chairman of MetLife since 2012, and has been President and Chief Executive Officer of the Company since 2011. He is responsible for the Company’s overall strategic direction. Kandarian first joined MetLife in 2005 as Executive Vice President and Chief Investment Officer. Kandarian began his career as an investment banker with Houston-based Rotan Mosle. He went on to serve as Managing Director of Lee Capital Holdings, before founding private equity firm Orion Partners, where he served as Managing Director for a number of years. Prior to joining MetLife, Kandarian served for three years as Executive Director of the Pension Benefit Guaranty Corporation.

John Hele,
Executive Vice President and Chief Financial Officer

info: John Hele (“Hele”) has served as Executive Vice President and Chief Financial Officer at MetLife since 2012. He oversees all of the Company’s financial management matters, including financial reporting, treasury, corporate actuarial, tax, investor relations as well as mergers and acquisitions. Hele has worked at a number of high-profile companies. In his early career he worked at Merrill Lynch, holding various investment banking, marketing and finance positions in the US. In 1999 he founded Worldinsure Bermuda, a technology company that automated life insurance underwriting, serving as the company’s President and Chief Executive Officer for several years before moving to ING, where he held a number of roles over the course of six years, including a spell as Chief Financial Officer. Prior to joining MetLife, Hele was executive vice president, chief financial officer and treasurer of Arch Capital Group.

Esther Lee,
Executive Vice President and Global Chief Marketing Officer

info: Esther Lee (“Lee”) has served as Global Chief Marketing Officer at MetLife since joining the Company in 2015. She is responsible for managing all aspects of the Company’s global marketing operations. Lee also sits on the Board of Directors at The Clorox Company. Lee has previously held senior executive roles, with a focus on marketing and branding, at a number of high-profile companies. From 2002 to 2007 she served as Senior Vice President and Global Chief Creative Officer at The Coca-Cola Company. This was followed by a brief spell as Chief Executive Officer for North America and President of Global Brands at Euro RSCG Worldwide. Lee joined AT&T in 2009 as Senior Vice President of Brand Marketing, Advertising, Sponsorships, and Media, where she remained until joining MetLife.

all jobs