MetLife (MET) Launches Savings Calculator to Educate Pet Parents

Core Insights - MetLife, Inc. has launched a new savings calculator aimed at educating pet parents about the financial benefits of pet health insurance, which can reimburse up to 90% of veterinary bills [1] - The introduction of pet insurance is expected to attract new customers and enhance future premiums, reinforcing MetLife's leadership in the U.S. group benefits market [1] Group 1: Market Opportunity - A survey indicates that 45% of pet parents faced significant health issues with their pets last year, and 82% felt financially unprepared for these expenses [2] - Only 58% of pet parents currently have pet medical insurance, presenting a substantial market opportunity for MetLife to provide insurance solutions [2] Group 2: Product Features - MetLife's pet insurance offers flexible family plans, competitive rates, and aims to lower out-of-pocket costs for pet parents [2] - Additional support features include 24/7 vet chat, counseling, and lost pet coverage, enhancing the overall value proposition for customers [2] Group 3: Financial Performance - MetLife's shares have increased by 4.2% year-to-date, outperforming the industry growth of 2.4% [3]