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MetLife Broadens Upwise Reach Through Nayya and Workday Deal
ZACKSยท 2025-06-24 18:00
Core Insights - MetLife, Inc. is expanding its Upwise benefits experience platform through a partnership with Nayya, making it available to employers via the Workday Marketplace starting October 1, 2025 [1][7]. Group 1: Upwise Platform Expansion - Upwise will be offered at no additional cost to employers who include MetLife's Accident, Hospital Indemnity, or Critical Illness insurance products in their benefits packages [2]. - The platform aims to address the benefits 'confusion gap' affecting the workforce, with 64% of employees reporting it simplifies their benefits decision-making process [3]. Group 2: Strategic Implications - This initiative reflects MetLife's strategy to enhance customer satisfaction and retention rates by streamlining the benefits decision-making process [4]. - The expansion is expected to increase the uptake of MetLife's Employee Benefit plans, potentially leading to higher premiums for the insurer [5]. Group 3: Financial Performance - MetLife's total premiums increased by 16.6% year over year in Q1 2025 [5]. - The company's shares have gained 12.5% over the past year, outperforming the industry growth of 10.4% [6].