MetLife Hong Kong, a wholly owned subsidiary of MetLife, Inc. MET , has expanded the coverage of MetLife Health-is-Wealth Medical Plan in its efforts to provide protection to diabetics. The insurer has offered its insurtech solutions to customers for proactive health management. The policy provides various benefits, from pre-hospitalization to post-hospitalization, to cater people up to the age of 100.
Finding insurance coverage for diabetic patients in Hong Kong has always proved to be a daunting task. This initiative by MetLife Hong Kong will make medical protection easily accessible for diabetic patients. According to the Chief Executive Officer of MetLife Hong Kong, this initiative exhibits the company’s commitment and loyalty toward its customers by paying heed to their needs and thereby responding to them accordingly. In order to make this global protection accessible to all, the company has come up with an application, Health2Sync, to assist them in their health needs.
Benefits of Health2Sync
MetLife Hong Kong applies advanced risk metrics to ascertain suitable premium rates. The plan further allows adjustment in premium rates after two years for those who have successfully maintained or reduced their HbA1c level.
MetLife Hong Kong’s partnership with Health2Syncfacilitates self-disciplined health management through its app and data analytics engine.
Diabetic mellitus retinopathy is one of the common causes of vision loss among diabetic patients. This plan provides vision care benefit as a complementary service to its customers. Also, customers will be provided full coverage for a comprehensive eye examination in the first policy year at a designated professional eye care center.
Based on life insurance in-force, MetLife is the largest life insurer in the United States. The company serves customers through direct insurance operations in Japan, Latin America, Asia Pacific, Europe and the Middle East. The company had witnessed a decline in revenues for the last two years that continued through the first half of this year. This initiative will likely help MetLife in generating more revenues.
Zacks Rank and Share Price Movement
MetLife carries a Zacks Rank #5 (Strong Sell). Shares of MetLife have underperformed the industry in a year’s time. While MetLife shares have gained 13.3%, the industry has registered an increase of 25.2%. Strategic acquisitions and disciplined capital management are expected to drive the stock higher in the future.
Stocks to Consider
Some better-ranked stocks from the insurance industry are Markel Corporation MKL , Kemper Corporation KMPR and Mercury General Corporation MCY . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here .
Markel Corporation markets and underwrites specialty insurance products in the United States and internationally. The company delivered positive earnings surprises in two out of the last four quarters, with an average beat of 21.06%
Kemper Corporation provides property & casualty, and life & health insurance services in the United States. The company delivered positive earnings surprises in the last four quarters, with an average beat of 57.53%
Mercury General Corporation engages in writing personal automobile insurance in the United States. The company delivered positive earnings surprises in three of the last four quarters, with an average beat of 1.06%.
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