Global insurer wants to be customers’ life partner
The traditional product-development model is giving way to a focus on being a customer’s partner through life’s twists and turns. That’s the focus at
MetLife which says it is making its most significant change to its brand for 30 years.
Driven by research among 55,000 of its customers, the insurer found that customers are overwhelmed by the fast pace of change in their lives and want a trusted partner to help them.
"To adapt to our changing world, we are re-thinking how we do business. We are moving away from a traditional product-development model to one driven by customer insights," said Steven A. Kandarian, chairman, president and chief executive officer of MetLife, Inc.
The result is “MetLife – Navigating Life Together.”
"Our new brand reflects our company's transformation and differentiates us in the marketplace, ultimately driving greater value for our customers and shareholders," Kandarian explained.
Along with the phasing out of the iconic Snoopy, the insurer will seek to “humanize” the brand when it begins to roll out its new brand globally during 2017.
PartnerRe to acquire life reinsurer Aurigen
Life reinsurance company Aurigen is to become part of Bermuda-based reinsurer PartnerRe in a deal worth C$375 million (approx. U$286 million)
The acquisition will enable PartnerRe to expand its coverage in Canada and the US, where Aurigen has a strong book of business.
“Aurigen is a well-respected life reinsurance partner in the North American market and will be a highly complementary addition to PartnerRe’s existing business,” said PartnerRe’s president and CEO Emmanuel Clark.
Alan Ryder, Aurigen’s CEO welcomed the deal and said there should be tremendous benefits to clients.
“Under PartnerRe’s ownership, our clients can expect the innovative reinsurance solutions and exceptional service they’ve come to know from Aurigen to continue and, over time, a broadened product offering and extended risk appetite,” Ryder said.
The deal is expected to complete by the first quarter of 2017.
Wellness now a $3.72 trillion global industry
The global wellness industry is soaring with the latest figures showing a 10.6 per cent rise in the last two years to $3.72 trillion.
The Global Wellness Institute’s total includes a range of things to make us feel ‘well’ including wellness tourism and healthy eating; but workplace wellness programs have also seen a significant rise.
Between 2013 and 2015, the GTI data shows that workplace wellness programs increased 6.4 per cent to $43.3 billion globally, with two-thirds of that spend in North America and Europe.
It forecasts that with the workplace wellness market has room for significant growth with just 9.5 per cent of the global workforce currently covered.
