February/March 2009
2008: Capturing the Year in Numbers. See page 7.
momentum Featured Inside Steal This Car! 2 MetLife Europe Grows Its Own 2 Contingent Staffing 4 to the Rescue Groundbreaking Pension 5 Risk Attitude Study Keeping Our Promises 6 The New MetLife.com 6 Capturing the Year in Numbers 7 Protecting Privacy in a 8 Borderless World
. . . more profitable! What kind of Operational Excellence ideas do we need from associates to extend our lead in the marketplace? Here’s how associates at a recent MetLife workshop took on Operational Excellence challenges and ran with them.
Skating With Snoopy 9 Retirement Liquidity Study 9 e-Relationship 10 Rallying the Troops 10 Diversity at MetLife 11 5,000 Take the 11 Chairman’s Challengesm
See Page 3 >
Ethics Awareness Month 12 Everyone Could Benefit 12 from $100
EDITOR’S NOTE: Momentum will publish combined (two-month) editions occasionally during 2009. This is the combined February/March edition.
Telling Our Story
ast month, I had occasion to speak
we are strong; and we are trusted.” We
run. This is one of the reasons why in
at the 2009 Financial Services
talked about this at Investor Day and
2008 we saw tremendous growth in our
Conference sponsored by Citi Investor
you will hear me and other senior
top-line performance (see page 7 for a
Research. In today's difficult economic
MetLife leaders return to this theme
snapshot of 2008 results). It is also why,
environment, it is more important than
throughout the year as we tell the
throughout our businesses, we continue
ever to share our story with the multiple
MetLife story. Particularly in times like
to gain customers and, in many cases,
and important stakeholders who impact
these, it is important to remind people
outpace the market.
our business. Over the course of the
that MetLife is successful not because
past few months, we have had some
we are big, but that MetLife is big
Though many forecasters say that the
challenges to talk about, but we have
because we are successful. This is an
difficult economic climate will continue
been and will continue to be honest and
important distinction and a great
for some time, I am confident that
forthcoming in our communications —
place to be.
MetLife is well positioned. Our capital
L
strength, strong ratings and focus on
to you, our employees, as well as to MetLife also is continuing to benefit
the long-term not only set us apart, but,
from a flight to quality. Customers want
together with our diversified businesses
The focus of my remarks at the
to do business with a company they can
and investment portfolio, make us truly
conference was that “MetLife is big;
trust to be there for them in the long
unique in the marketplace. ■
customers and shareholders. Rob Henrikson Chairman, President and CEO
Volume 11, Issue 2
< Be sure to visit Momentum online at my.metlife.com >
1
February/March 2009
Steal This Car! MetLife Auto & Home helps Chicago Police catch thieves in the act
C
ar thieves in Chicago are finding that if they do the
Larry explains. “A thief who attempts to steal the bait car soon realizes the only way out is into the waiting arms of
crime, they’ll have to do the time.
the police.” Since 2007, MetLife Auto & Home® has collaborated with the Chicago Police Department and the Cook County State’s
In order not to tip off the potential thieves, the bait car’s
Attorney’s Office to combat auto theft through the
identity is closely guarded. When the program was featured
deployment of a “bait car.” Their efforts are paying off not only with
on local TV news in the Windy City, the vehicle was completely hidden under a wrapper.
a reduction of thefts, but also with an increase in convictions
Other law enforcement agencies admire the results Chicago
of perpetrators.
has achieved with MetLife Auto & Home’s support, Larry notes. “As the project has moved forward, auto thefts have
The bait car was donated to the city by
declined in the troubled districts of the city, and there has
MetLife Auto & Home’s Claim Department, in close
been a corresponding dramatic increase in the number
cooperation with the Law Department and the
of arrests.”
Special Investigation Unit (SIU). The vehicle is secretly equipped with video cameras, a global positioning system for tracking, and devices to remotely disable the
According to the Cook County State’s Attorney’s Office, nearly 150 arrests were made through the first 18 months of the program. Of those, 74 were categorized as adult felony
engine and lock the doors.
arrests, and a one hundred-percent conviction rate has been Larry Cholewin, SIU regional manager in the Chicago area, is MetLife Auto & Home’s liaison to the police department.
achieved on the 50 such cases prosecuted so far. Two convictions have resulted in sentences of six years each, Larry reports. In addition, 18 repeat offenders have been sentenced
“The Chicago PD’s Covert Auto Theft Team (C.A.T.T.), which
to serve a total of 81 years in the Illinois House of Corrections.
consists of 10 officers and one sergeant, places the bait car on the street in areas of the city where auto theft is prevalent,”
“As an insurer, we at MetLife Auto & Home deal with the victims of auto theft every day,” Larry states. “People feel violated when their car is stolen. It is our belief that
On the streets of Chicago: Cook County Assistant States Attorney Sandy Navarro, Cook County Assistant States Attorney Kevin Byrne, Larry Cholewin of MetLife’s SIU and Cook County Assistant States Attorney Al Vroustouris
Growing Our Own
quality of life in Chicago. The results have been astounding and we are proud to assist in this effort.” ■
F
roles, which are based in prestigious Canary Wharf in London. Both types
Following the initial training, the
wherever you are in the world. In the
of positions provide development
graduates spent a week with either
United Kingdom, MetLife Europe
opportunities for the graduates
meta-morphose or Pareto Law working
decided to try to “grow their own” by
over time.
on basic selling skills. Then, they
program. “As part of our sales expansion
“Most of the graduates had some work
visits to gain an understanding of how
plans, we took a risk bringing fresh
experience,” says Fiona Gummerson,
to put all of the knowledge they had
graduates into sales roles,” explained
sales operations and development
learned into practice in the real world.
Mike Phillips, head of Distribution. “It’s
manager. “As we quickly discovered,
not something that is considered very
that gave them a key advantage. But
The 10 associates who graduated in
often. However, taking calculated risks
only one or two had any financial
June have already been instrumental to
is a key sales competence.”
services experience or knowledge.
the organization. Their sales figures are
inding high-quality, committed and
capable sales people is a challenge
MetLife Europe introduces an innovative graduate sales program
initiatives such as this will benefit everyone and improve the
shadowed colleagues on live calls and
introducing a graduate recruitment sales
“We took a risk bringing fresh graduates into sales roles. . . . However, taking calculated risks is a key sales competence. ” — Mike Phillips
many of their colleagues as possible.”
We designed an intensive four-week
demonstrating that this is a viable way
Working with graduate recruitment
training program, introducing the
to broaden MetLife’s recruitment
specialists meta-morphose and Pareto
graduates to the U.K. financial
efforts in order to attract quality sales
Law, Mike and his team brought a total
services marketplace, MetLife and the
personnel. The 19 October graduates, after passing their assessments, have begun making solo sales visits and calls. They are still closely supervised, supported and coached during these early months, and there is an ongoing two-year development program to ensure they all have the training to be promoted to sales development managers.
“I’m delighted with the progress the graduates are making,” says Mike. “Combined with our existing team of Ready for a MetLife future: Graduates of MetLife Europe’s new sales recruitment program
2
of 30 graduates into sales roles during
products and services we offer in
wholesalers, we now have a great blend
June and October of last year. The
the U.K. Many people across the
of youth and experience. This group
graduates’ positions consist of regionally
organization representing several
of individuals is playing a valuable
based sales roles, which entail working
areas of expertise were involved in
in transitioning MetLife in the U.K.
face-to-face with independent financial
delivering the program. It also gave
from a start-up to a full-fledged,
advisers, and internal telephone sales
the graduates the chance to meet as
successful business.” ■
momentum Throughout the enterprise, Operational Excellence is off and running. In December and January, Momentum highlighted two examples of “grassroots” Operational Excellence initiatives that were created and implemented by MetLife associates. This month, we focus on how the Operational Excellence mindset is being exercised at a different level: in the training and development of our company’s leaders.
E
ver felt “out of your comfort zone”?
That was the challenge faced by
Development, says, “In total, there
Picture this: You’re sent to a MetLife
participants of MetLife’s recent Business
were five teams that developed
workshop filled with people you’ve
Acumen workshop — an intense,
proposals around either Operational
never met before. The instructor teams
three-month development experience
Excellence or our Strategic Initiatives,
you up with several of these “strangers,”
designed for MetLife leaders. During the
and they all did an impressive job.”
tells your team about a MetLife business
workshop, a primary goal was to stretch
process that’s totally outside your area
attendees’ abilities to think and act in
While we don’t have the room in
of expertise, and gives you just 90 days
ways that align with the objectives of
Momentum to cover all five proposals,
to develop breakthrough ideas to
Operational Excellence.
each so clearly illustrates the meaning
A recent workshop challenged leaders to adopt an Operational Excellence mindset and run with it
of “faster, better, more profitable” that
make that process faster, better and more profitable.
Faster, Better, More Profitable
Joie Townsend, vice president,
we wanted to share at least a sample
Leadership & Management
with our readers.
Will we see these The Integrated Print Proposal
The Personal History Interview Proposal
Project team: James Castillo, Bruce Cook, Julienne Godwin,
Project team: Michael Eng, Barbara Francis-Fulop, George
Jeffrey Hollander, Joann Kraemer, Jeff Rossetti
Lesch, Tony Llopis, Bruce Schindler, Sharon Seabaugh
Project sponsors: Roy Anderson, Heidi Ruzzo
Project sponsors: Kieran Mullins, Mike Harwood,
ideas in action? The results of all five Business Acumen exercises impressed the
Jill Garofalo, Maureen Leydon senior business leaders who
To MetLife customers, an insurance statement is more than just a piece of paper they receive in the mail; it’s an
When Individual Business’s customers apply for insurance,
expression of who MetLife is and how we treat our customers.
personal history interviews (PHIs) provide critical information
In analyzing our statements, Joann Kraemer of MetLife
we need to properly assess our risks and price our premiums.
Auto & Home® said her Business Acumen team conducted
Yet, when a Business Acumen team was assigned to evaluate
extensive interviews, brainstorming sessions and even got
PHIs, they discovered a process that was lengthy, relatively
the customer perspective.
expensive, dependent on outdated technology and a source
sponsored each exercise. Currently, all the ideas are undergoing review for possible implementation.
of irritation for both customers and producers. “What we found,” said Joann, “is that we do a phenomenal job with our up-front branding through our marketing
“We interviewed 35 people in connection with the process,
materials but not in our post-sales communications. At a
analyzed historical materials and even set up a PHI
glance, some customers can’t see that certain statements are
information library,” says team member Michael Eng of
coming from MetLife . . . and they don’t understand some of
Legal Affairs. “We found that MetLife was getting complaints.
the jargon we use. Ultimately, that costs money because we’re
Many PHI questions were the same ones that customers had
fielding phone calls and questions — and it frustrates
already been asked by their sales representatives. Some
customers, threatening our relationships.”
questions didn’t even apply to the customer’s specific situation. Plus, our process was longer and more costly on
As a result, the team developed a series of recommendations
average than that of our competitors. To top it off, the
that included a standardized MetLife format across lines of
process did not lead to any real improved underwriting
business for all statements, the use of “plain language” in
decision making.”
statement text and the creation of “messaging space” on statements that would educate and inform customers about
The team’s solution: to re-engineer the “one size fits all”
our products and services. They also proposed a Shared
nature of MetLife PHIs and develop a streamlined process
Services Group that would ensure consistency in the look
that is customized to individual customer situations. They
and feel of MetLife statements across lines of business to
proposed conducting PHIs only “for cause” — in other words,
improve branding.
only when certain ”red-flag“ risks were involved. They
“We felt free to look at things critically and brought no preconceptions to our analysis. . . . That’s what taking an Operational Excellence view is all about.” — Michael Eng
recommended developing specialized scripts for each of these The team also saw huge cost savings in Web-based delivery of
risks, resulting in a PHI that would provide more specific
statements. While common practice is to provide paper
information for better underwriting decisions. They also
statements and offer opting in to electronic delivery, Joann
outlined new technology solutions that would deliver higher-
says the team proposed a paradigm shift: electronic delivery
quality statistical analyses of our experiences in using each PHI
up-front, with an “opt in” for paper. They also proposed a
script, enabling script improvements on a continuous basis.
“client dashboard” — a single Web page through which customers can access all their MetLife statements and
“The key was that we were invited to do more than ‘kick the
accounts. “That’s the way people are managing their lives,”
tires’ of this process — we were invited to ‘look under the
says Joann. “We need to align with that. In the eyes of
hood,’” said Michael. “Our project sponsors told us nothing
customers, serving them from the perspective of how they’re
was off the table, so we felt free to look at things critically
living today is Operational Excellence.”
and brought no preconceptions to our analysis and eventual recommendations. That’s what taking an Operational Excellence view is all about.” Continued on Page 4 >
3
February/March 2009 Continued from Page 3
The Client-Specific Customization Proposal
Faster, Better, More Profitable
conducted interviews with 52 Institutional Business Project team: Elisabeth Bedore, Kristen Denice, Ray DiGiovanni, Joan Falcetta, Cynthia Ko-Baek, Ken Sardusky Project sponsors: Todd Katz, Michael Fradkin, Scott Boutin
A recent workshop challenged leaders to adopt an Operational Excellence mindset and run with it
To improve the process, Joan and her fellow team members
experts. Then, they developed a three-part proposal for (1) standardizing the customization process, (2) defining accountability for specific decision-making and (3) creating process oversight. “We created a ‘lifecycle wheel’ for the
Just as there are two sides to every coin, there are sometimes disadvantages inherent in advantages. Because of its size, MetLife’s Institutional Business can do things other companies can’t, such as offer extensive customization of our employee
process,” says Joan. “It not only standardizes how we evaluate and execute customization requests, but also assesses our results so that we can better apply the experience to future requests.”
benefit programs to meet our large Institutional customers’ specific needs. But our size also means that it is difficult at times to offer customization in the most efficient way.
The team also recommended a centralized body to oversee the process, making all that experience and knowledge easier to access. Finally, they defined decision-making authority each
“While customization is definitely one of our competitive advantages, there’s a cost to it,” says the Information
step of the way so that requests can be executed relatively quickly and with higher customer satisfaction rates.
Technology Group’s Joan Falcetta, part of the team analyzing Institutional’s customization process. “If you’re an Institutional account executive, wouldn’t it be great to solve for a customization request by leveraging MetLife’s broad experience, knowledge and resources? Unfortunately, our size sometimes makes it hard for one account executive to know
“For us,” says Joan, “it meant realizing that Operational Excellence is a matter of bringing together and empowering the tremendous resources MetLife already has in ways that will make us faster and better so that we can also be more profitable.” ■
what’s been done for other clients. It also makes deciding which customization requests to accept, how to price for them and how to implement them a complex process.”
Do you have a “faster, better, more profitable” idea? Talk to your manager or send a message by visiting my.metlife.com >> Strategic Initiatives Site and clicking on the icon for the Operational Excellence mailbox.
Contingent Staffing to the Rescue New workload solution helps keep service levels up, expenses down
“Contingent Staffing” is a new workload solution for the Benefit Services Organization (BSO). BSO supports almost 3,500 Institutional Business customers who represent $3.5 billion in revenue. The BSO works to provide outstanding service to primarily Mid/Large Market and National Accounts customers, as well as providing support to Small Market customers.
any business operations
“We are a large and diverse
“It is important to note that the
experience natural peaks and
organization of highly skilled
associates on our first Contingent
valleys in their workload. Recently, the
associates,” says Tom Purcaro, BSO
Staffing team are not the only
Benefit Services Organization (BSO) in
senior vice president. “The Contingent
contributors,” adds Tom. “Their
Institutional Business developed a new,
Staffing solution provides a great
respective teams, managers and
collaborative solution for handling the
opportunity to leverage our vast
colleagues throughout the BSO
ups and downs of its work volume. That
knowledge, manage critical peak
supported the effectiveness of this
solution, which is already improving effi-
periods and offer our associates
solution by maintaining the day-to-day
ciency and controlling costs, is
challenging growth experiences.”
workflow in their areas. This is a
M “The Contingent Staffing solution provided a great opportunity to leverage our vast knowledge, manage critical peak periods and offer our associates challenging growth opportunities. ” — Tom Purcaro
collaborative effort that only succeeds
Contingent Staffing. Due to the high volume of work that
through a solid commitment
BSO is responsible for supporting
the BSO’s Mid/Large Market Case
from everyone.”
Institutional’s group customers. These
Implementation area traditionally
customers rely on the BSO to provide
experiences around the first of every
Results indicate that the solution is
them with a seamless, positive service
year, that area was chosen as the pilot
working. During fourth quarter
experience — from the request for
of the Contingent Staffing solution.
2008, contingent staffers provided
proposal (RFP) right
Utilizing a thoughtfully constructed
tremendous assistance to the Mid/
through the underwriting,
business model, contingent staffers
Large Case Implementation team by
sale, implementation and
were selected based on their
completing approximately 17 percent
ongoing administration of
business knowledge, experience
of all new business for the team’s
their programs. To ensure
and competencies.
January 1 implementation cycle with great quality results.
great service during these
Contingent Staffing team members Kim Jakubowski, Kris Erdrich, Gary Jones, Brenda Agresta, Yili Pokay, Bridget Hagspihl, Anne Wilson, Paula Teich, Holly Steffen, Jeff Cormany, Heather Kekev, Ron Gillingham, Alma Forster, Rob Blaisdell, Julia Lawlor, Tchad Harris
4
especially busy times,
These staffers quickly gained the
Contingent Staffing
comprehensive knowledge and skills
Due to this success, the BSO anticipates
utilizes associates from
needed for this assignment through a
that Contingent Staffing will expand
across the BSO and
customized training program developed
to support the Dividends process
“shares” them with other BSO areas
by the BSO. To ensure the team
during its upcoming peak periods.
that are undergoing peak periods. This
continued to meet the high-quality
A Contingent Staffing solution is also
not only keeps service at a high level, it
service standards MetLife customers
in the initial planning stages for the
also provides valuable opportunities for
expect, learning partners were assigned
Mid/Large Market Underwriting and
associates to expand their skill sets by
to assist contingent staff members and
Proposal Teams. ■
temporarily taking on assignments in
a rigorous quality assurance program
different areas.
was established.
momentum
T
hough shrinking in number, defined
“We believe that the results of this study
understood or accounted for in their
benefit (“DB”) pension plans remain
will help increase awareness among
risk analysis. These include “longevity
an important part of the investment and
pension plan sponsors about the need to
risk,” “mortality risk” and “early
retirement security landscape. In the
take a more comprehensive view of the
retirement risk.”
U.S., they account for $2.3 trillion in
risks associated with today’s pensions
assets and cover nearly 42 million plan
plans,” added Bill Mullaney, president,
“The research suggests that many
participants, of whom over 20 million
Institutional Business.
plan sponsors manage risk factors individually rather than holistically,”
are active employees, according to the The first-of-its-kind study focused on
says Cynthia Mallett, vice president,
now, relatively little has been known
some of the largest pension plans in the
Product & Market Strategies in
about how plan sponsors view and
U.S. One-hundred sixty-eight corporate
MetLife’s Institutional Business, who
manage their DB plan risks.
plan sponsors were asked to rank the
led the research in partnership with
importance of 18 different risk factors
Market Research, Marketing and
A leader in the pension risk transfer
identified by a panel of industry
Public Relations.
business, MetLife recently sought to
experts and researchers. They were also
measure the attitudes of corporate
asked how they are addressing the risks
Over time, the approach of focusing on
decision makers on the investment,
they identify as important.
some risks — and ignoring others —
U.S. Department of Labor. Yet, until 1
with managing their DB pension plan
Among the major study findings, plan
companies, including depressed
liabilities. The result is brand new,
sponsors report that they are focused on
earnings and unnecessary volatility in
original research entitled the MetLife
only a few risk factors associated with
earnings or cash flow, according to
U.S. Pension Risk Behavior Index .
their pension plan. Many also report
Cynthia. “This groundbreaking research
inconsistent success in addressing the
will raise the volume on the issue and
risks they view as most important.
help jumpstart meaningful conversations
Launched in January, this new research is
about how to more holistically think
serving as a centerpiece of Institutional Business’s thought leadership platform
Generally, the plan sponsors ranked
about and manage pension risk,”
“Making Good on the Promise of a
investment-type risks, like “asset
she said. “The more plan sponsors
Secure Retirement” — and it’s
allocation,” “meeting return goals” and
understand all of their DB plan risks,
tremendously important to our
“under-funding of liabilities,” as most
and how they are interconnected, the
customers. Pension risks can be sizeable.
important. Risks associated with liabilities
better prepared they are to keep their
More than one company has faced
created by the plans ranked least
promise of a secure retirement to
pension troubles in recent years. Some
important and may be less well
plan participants.” ■
“We believe that the results of this study will help improve awareness among pension plan sponsors about the need to take a more comprehensive view of the risks associated with today’s pension plans.”
have decided to freeze their DB plans to new entrants; others have severely underfunded plans.
From the survey: How often each kind of pension risk was selected as “most important” when presented with other risk items.
“MetLife designed and fielded this study to encourage public dialogue around pension risk issues for plan sponsors,” says Robin Lenna, senior vice president and head of Institutional’s Corporate Benefit Funding group. “Our goal is to help plan sponsors develop a new framework for understanding risks, and to explore solutions for mitigating risk exposure.”
1. U.S. Department of Labor, Employee Benefits Society Administration, Private Pension Plan Bulletin Historical Tables, Feb. 2008
Are plan sponsors focused on all the right pieces of their risk management strategy?
could have serious repercussions for
liability and business risks associated
SM
Groundbreaking MetLife Study Uncovers Pension Risk Attitudes
Asset Allocation Meeting Return Goals Underfunding of Liabilities Asset and Liability Mismatch Accounting Impact Liability Measurement Ability to Measure Risk Negative Alpha Plan Governance Fiduciary Risk & Litigation Exposure Investment Valuation Decision Process Quality Advisor Risk Inappropriate Trading Quality of Participant Data Longevity Risk Mortality Risk Early Retirement Risk 0.00%
— Bill Mullaney
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
Source: MetLife U.S. Pension Risk Behavior Index
What is pension risk transfer?
What’s a defined benefit pension plan?
Pension plans can expose sponsors (the employers who offer them) to multiple risks. External factors such as fluctuations in the financial markets, demographic
Often referred to as a traditional
shifts and changing legal and regulatory requirements can lead to unexpected
pension plan, a defined benefit pension
cash flow needs, balance sheet volatility and increased administrative
plan determines a future benefit to be
responsibilities associated with the plans.
paid to a participant based on a specified formula that typically includes
MetLife can help companies reduce their pension risks. Through Institutional’s
participants’ pay level and service.
Corporate Benefit Funding group, plan sponsors can access a variety of risk
Participants generally are not required
transfer solutions — some which lessen a portion of the risk and others, like a
to make contributions or investment
pension closeout, which remove the plan sponsor’s pension risk completely. Our
decisions, and the employer funds the
expertise in understanding pension risk, and how to mitigate it, has made us a
plan in order to pay future benefits
leader in this business. As of December 31, 2007, MetLife had over $30 billion in
to participants.
transferred defined benefit pension liabilities.
5
February/March 2009
Keeping Our Promises How MetLife uses disciplined risk management to deliver on its annuity guarantees
n today’s uncertain and volatile
I
weighs an appropriate combination of
Giving clients a sense of security
market conditions, the guarantees
features, limitations, requirements
Given today’s turbulent market, it’s
provided by MetLife’s individual
and fees so that our guarantees are
important that brokers and clients
annuities are particularly important to
competitive in the marketplace, yet
know about MetLife’s risk management
our customers, offering them peace of
financially sound. For example, the
strategies. This is why the Retirement
mind in turbulent economic times.
One way that the MetLife companies
contractholder may only be able to
and Wealth Strategies group has made
exercise a guarantee up to a certain
it a point to reassure brokers and
age or after a holding period.
clients of the MetLife companies’
ensure we can deliver on these
strength and our ability to meet our
guarantees is by adhering to strict,
Hedging
obligations — particularly since an
The Retirement and Wealth Strategies
annuity’s guarantees are subject to the
group in Individual Business works with
financial strength and claims-paying
MetLife’s Investments department to
ability of the company that issues the
develop hedging programs designed to
annuity. Here are just two examples of
help mitigate risks associated with the
marketing materials produced by the
annuity guarantees we provide, such
Retirement and Wealth Strategies
as interest rate, equity and currency
group Annuity Marketing department
risks. By definition, a “hedge” is an
that tell our story:
investment made specifically to offset another risk. Purchasing hedging instruments lowers the gains, on
management brochure — This piece
average, but also significantly reduces
will be approved for clients and
the potential for larger losses. Hedging
highlights MetLife’s long history,
helps allow the MetLife companies to
strength and stability, as well as our
stabilize their balance sheets, reduce
strategies for managing risks.
economic losses and pay for the
Two examples of marketing materials that tell our risk management story: the “Promise Campaign” (left) and the “Keeping Our Promises” risk management brochure (right)
Introducing the New MetLife.com A redesign of our public Web site
> Keeping Our Promises risk
> Promises Campaign — This campaign
guarantees in the optional benefits
reinforces MetLife’s strength and
when the market reduces the benefits’
stability and includes a broker
performance.
mailer and client letters. ■
disciplined risk management strategies
Reinsurance
The issue of delivering on our annuity
that include prudent product design,
In some cases, the Retirement and
promises was also a topic at MetLife’s
hedging and reinsurance.
Wealth Strategies group will pass a
recent Investor Day meeting. For
portion of the risk, though not the
more detail, see the Investor Day
Prudent product design
obligation or guarantee, to another
story in the January 2009 edition of
MetLife’s annuities are designed to
insurance company, called a reinsurer,
Momentum. (Visit my.metlife.com
offer clients value while limiting the
in exchange for a portion of the
and click on “Momentum.”)
company’s risk exposure. In creating
premiums paid. This takes some of
that design, product management
the burden off MetLife.
n today’s world, the Internet is an essential channel for
These features aren’t just good for users — they’re good for
providing customers with the solutions they need for
our business, according to Manish Bhatt, vice president,
I
themselves, their families and businesses. Nearly 80 percent
Interactive & Web Solutions. “New navigation capability will
of U.S. adults research products online, and more than 90
mean visitors can find what they’re looking for more quickly
million use online banking. But it takes more than a Web site
and easily, improving their satisfaction and likelihood of
to stay ahead of the competition; it takes a great Web
doing business with MetLife,” says Manish. The new platform
experience, with interactive
also has better metrics-tracking capabilities, so MetLife can
tools, easy-to-use navigation
see how site enhancements help us reach business goals.
and content tailored to the different reasons users
The ITG Global Applications and Enterprise Infrastructure
visit a site.
teams were instrumental in developing the platform to support the new site. This collaborative effort enabled the
The new MetLife.com is all
teams to find innovative solutions that will be leveraged
these things, and more.
throughout our many Web sites and lines of business.
The revamped Web site was
MetLife’s focus on MetLife.com in recent years led to more
launched in January, with a
than nine million visitors and over 107,000 Internet leads in
fresh, new design, updated
2008. As the new site evolves with new content, new tools
content and a better search
and continued improvements to the user experience, we can
function. Three customized
expect even bigger and better numbers in years to come.
home pages cater to individual consumers,
If you haven’t had a chance to explore the new MetLife.com,
businesses and brokers/
check it out! You’ll be amazed at how much information is at
consultants, with targeted The new MetLife.com as viewed by individual customers
messages and access to account management tools. Research on Internet user habits helped create this engaging experience for all user types, whether they want to find information, read personal stories or are ready to contact an agent.
6
your fingertips and how simple it is for all of our customers to find the products and services they need. ■
momentum Financial Highlights — 2008
Capturing the Year in Numbers
Financial Results ($ in millions except per share data) (Years ended December 31)
2008
2007
Premiums and fees Net investment income Other revenues
$31,277 16,304 1,586
$28,220 18,328 1,465
Total
$49,167
$48,013
Policyholder benefits and dividends Interest credited to policyholder account balances Other expenses
$29,007 4,743 11,403
$25,349 5,435 10,554
Total
$45,153
$41,338
$2,736 1,100 (443) (309)
$4,570 (564) (24) 198
Net income available to common shareholders Preferred stock dividends Net income
$3,084 125 $3,209
$4,180 137 $4,317
Earnings per common share calculation: Weighted average common shares outstanding — diluted Operating earnings available to common shareholders per common share — diluted (1)
793.60 $3.67
754.10 $6.00
$4.14
$5.48
In the previous Momentum, we
Operating earnings available to common shareholders Net investment gains (losses), net of income tax (2) Adjustments related to net investment gains (losses), net of income tax Discontinued operations, net of income tax (4) (1)
(3)
Net income available to common shareholders per common share — diluted
Premiums, Fees and Other Revenues
Total Assets
reported on Investor Day 2008, at which MetLife’s senior leaders described MetLife’s business accomplishments and challenges during the past year. Here, we take a different view of 2008: a “by the numbers“ look at our financial highlights.
U.S. Employees 41,000
$35,000
$600
$528.1
$28,072 ($ in millions)
$500 ($ in billions)
$32,863
$30,000
$559.1
$501.7 $482.8
$400
$25,000
Worldwide Employees 56,000
$29,685
$25,976
Customer Reach MetLife is a leading provider of
$20,000
insurance and other financial services to over 70 million customers around
$15,000
the world and, in the United States, $10,000
$300 2005
2006
2007
2008
2005
2006
2007
2008
serves over 90 of the top one hundred FORTUNE 500® companies. Outside the United States, the MetLife companies have direct
2008 Operating Earnings Available to Common Shareholders
2008 Diversified Net Income (excludes Corporate &Other)
$1,750 $1,500
Institutional Business
$1,674
#1 U.S. Life Insurer States with approximately
$1,000 ($ in millions)
and Asia Pacific.
Largest life insurer in the United
Auto & Home
$1,250
operations in Latin America, Europe
International Business
$750 $743
$500
17%
$522
$3.4 trillion of life insurance
8%
in-force as of December 31, 2007.
56%
$363
$250 0
19%
($250) ($566)
($500) ($750) Institutional Business
Individual Business
International Business
Auto & Home
Individual Business
Corporate & Other
This financial highlights presentation is not a substitute for MetLife, Inc.’s annual report on Form 10-K or the annual report to shareholders. If you would like to see a complete set of financial statements for MetLife, Inc., visit www.metlife.com and select “Investor Relations.” (1) Non-GAAP and Other Financial Disclosures: All references in this presentation to net income, net income per share, operating earnings and operating earnings per share should be read as net income available to common shareholders, net income available to common shareholders per diluted common share, operating earnings available to common shareholders and operating earnings available to common shareholders per diluted common share, respectively. Net income available to common shareholders and net income available to common shareholders per diluted common share are defined as Generally Accepted Accounting Principles (“GAAP”) net income and GAAP net income per diluted common share less preferred stock dividends, respectively. The historical and forward-looking financial information presented in this presentation includes performance measures which are based on methodologies other than GAAP. MetLife analyzes its performance using so-called non-GAAP measures, including operating earnings, operating earnings available to common shareholders, operating earnings available to common shareholders per diluted common share and operating return on common equity. MetLife believes these measures enhance the understanding and comparability of its performance by excluding net investment gains and losses, net of income tax, and adjustments related to net investment gains and losses, net of income tax, both of which can fluctuate significantly from period to period, and discontinued operations other than discontinued real estate, net of income tax, thereby highlighting the results from operations and the underlying profitability drivers of the business. Operating earnings available to common shareholders and operating earnings available to common shareholders per diluted common share should not be viewed as substitutes for GAAP net income available to common shareholders and GAAP net income available to common shareholders per diluted common share, respectively. Operating earnings is defined as GAAP net income, excluding net investment gains and losses, net of income tax, adjustments related to net investment gains and losses, net of income tax, and discontinued operations other than discontinued real estate, net of income tax, less preferred stock dividends. Scheduled periodic settlement payments on derivative instruments not qualifying for hedge accounting treatment are included in operating earnings. Operating earnings available to common shareholders is defined as operating earnings less preferred stock dividends, which are recorded in Corporate & Other. Operating earnings available to common shareholders per diluted common share is calculated by dividing operating earnings available to common shareholders by the number of weighted average diluted common shares outstanding for the period indicated. Operating return on common equity is calculated by dividing operating earnings available to common shareholders by average common equity for the period indicated, excluding accumulated other comprehensive income. (2) Net investment gains (losses), net of income tax, includes gains (losses) on sales of real estate and real estate joint ventures related to discontinued operations of $8 million and $5 million for the full year ended December 31, 2008 and 2007, respectively, and excludes gains (losses) of $3 million and $164 million for the full year ended December 31, 2008 and 2007, respectively, from scheduled periodic settlement payments on derivative instruments not qualifying for hedge accounting treatment. (3) Adjustments related to net investment gains (losses), net of income tax, include amortization of unearned revenue and deferred acquisition costs, adjustments to the policyholder dividend obligation and amounts allocable to certain participating contracts. (4) Discontinued operations, net of income tax, excludes gains (losses) from discontinued operations related to real estate and real estate joint ventures.
7
February/March 2009
Protecting Privacy in a Borderless World A look at the mission of the MetLife Privacy Office
E
very day, new technologies emerge, enabling more ways to
globally, as well as to demonstrate how regulators outside the
share data. As a company focused on offering a financial
U.S. think about privacy.
“safety net” to its customers, MetLife has a deep-seated
responsibility that touches every aspect of our business throughout
Privacy champions: aligning standards across the enterprise
the world.
To help achieve these objectives, the MPO has also established
commitment to privacy. Protecting personal information is a core
global partnerships with privacy champions throughout Making sure MetLife upholds those standards as it does
MetLife’s international locations. In each country, a privacy
business globally is the job of Virginia Bartlett, MetLife’s
champion is in place to coordinate privacy risk management,
newly appointed chief privacy officer and head of the MetLife
policies and standards. Essentially, the privacy champions are
Privacy Office (MPO). As part of Ethics & Compliance, the MPO
thought leaders who represent their country’s leadership
ensures customer and associate information is appropriately
teams as MetLife’s International Business establishes and
collected, safeguarded and used by the MetLife enterprise.
maintains a consistent approach to data protection.
It is also responsible for establishing a global enterprise Partnering with Legal, Compliance, IT Security and Policy
privacy strategy.
Administration, the privacy champions help MetLife in its
The MetLife Privacy Office team: Virginia Bartlett, chief privacy officer, and Harry Valetk, privacy director-U.S. Not pictured: Janice Rehman, senior compliance analyst
“When I look ahead in 2009, I see a changing internal and
efforts to achieve global consistency through an integrated
external world,” says Virginia. “There’s a borderless mindset to
approach to protecting personal data across the enterprise. In
the way we work and play today — and it’s a call to action.
addition, the champions serve on the International Privacy
Have you ever wondered in what country a Web site is located
Steering Committee, which was established to oversee the
when you place an order online? Have you ever wondered
development of privacy principles and standards for our
where your information is stored if you use an ATM while
International Business.
traveling overseas? As privacy officer, I think about this all the Often, privacy champions are advocates for new standards,
time: where is the data?”
helping to ensure country standards are consistent with
Setting standards internationally
MetLife’s privacy principles. In Europe, India and Latin
In the fall, Virginia participated in the 30th
America, privacy champions have been influential in raising
International Conference of Data Protection
awareness both internally and externally on the importance of
and Privacy Commissioners in Strasbourg,
MetLife’s global privacy and security framework. For example,
France. The conference, held annually, brings
Rafal Harla, chief information officer of MetLife in Poland, has
together 78 data protection authorities and
been instrumental in raising privacy issues and concerns to the
privacy commissioners from every continent.
newly appointed data privacy commissioner in Poland.
Privacy or other data regulators from nearly all of the countries where MetLife does
Momentum caught up with Rafal on his recent participation
business were represented at the event. At
in the European Privacy Officers’ Network (EPON) meeting,
the meeting, a resolution was passed for
where privacy issues and concerns were discussed with
setting international standards on privacy
Poland’s data privacy commissioner. Rafal says, “EPON is a
and personal data protection.
group of specialists that enables multinational companies to have a dialogue with national privacy regulators and to
“There’s a borderless mindset to the way we work and play today — and it’s a call to action. . . . As privacy officer, I think about this all the time.” — Virginia Bartlett
With that in mind, one of Virginia’s most important
manage data protection law compliance programs more
initiatives for 2009 is to encourage MetLife to think globally
effectively. The meeting was held at the law offices of CMS
about information flows. “The privacy impact of being a
Cameron McKenna in Warsaw in November of 2008. The
global company is significant,” says Virginia. “The meaning of
briefing was focused on personal data protection laws and
privacy is different everywhere you go and MetLife has offices,
practices in Poland, Russia and Romania.”
associates, customers and data centers around the world. For example, our Global Operations Support Center in India
When asked what aspect of data protection is most
supports many U.S. line-of-business processes, and we have
important, Rafal replied, “Certainly, the most important
claims service providers that operate offshore. We also offer
aspect for me is technology and the use of technology to
benefits to Institutional clients with global offices. So
protect data misuse, tamper-proof logging of access to
understanding how other cultures and people think about
data, encryption and other security measures for data
privacy is important.”
processed in IT systems. However, technology is only a small part of data protection and privacy. The most important
To address this, the MPO recently launched an internal MetLife
part is to implement and maintain a data protection culture.
awareness campaign called “Privacy Is Everyone’s Business” —
All associates need to understand that privacy is a part of
and that message is going out globally. The office will also
daily corporate life.” ■
introduce a new training program to help associates think
Read the complete interview with Rafal Harla online
MetLife has taken a global view in
meeting, privacy issues were discussed
Rafal’s entire interview. To access the
addressing the ever-evolving privacy
with Poland’s newly appointed data
interview, visit the my.metlife.com
protection issues relating to our
privacy commissioner.
business. As mentioned in the article
8
home page and click on the “Momentum” link (directly beneath
above, Rafal Harla, chief information
To hear more about the meeting, as
MetLife NewsDaily). A link to the
officer for MetLife in Poland, recently
well as Rafal’s personal views on why
interview can be found below the
attended the European Privacy
privacy and data protection are so
Momentum story listings.
Officers’ Network (EPON) meeting at
important to MetLife, go to
the request of Virginia Bartlett. At the
Momentum online for a transcript of
momentum id you know Snoopy® could skate?
D
Following “Skate with Snoopy,” there
In recognition of the day’s activities,
To cap off MetLife’s 140th
was an additional event held at Bryant
Jeanne Mulgrav, commissioner of the
anniversary celebrations, approximately
Park during which members of the
Department of Youth and Community
300 New York City school children were
public were invited to have their
Development, presented Beth
invited to see for themselves and skate
pictures taken with PEANUTS characters
Hirschhorn, senior vice president,
with Snoopy on The Pond at Bryant
under the Holiday Tree. Consumers
Global Brand and Marketing Services,
Park in front of MetLife’s new
were provided with a MetLife
with a Proclamation from New York
Manhattan office location at 1095
mousepad directing them to retrieve
City Mayor Michael Bloomberg as a
Avenue of the Americas. The event,
their photos at metlife.com, thereby
“thank-you” to MetLife for sponsoring
which took place during the winter
driving traffic to our site. The rink and
the event. Said Debbie Krautheim,
holiday break, provided an opportunity
surrounding areas were decorated with
vice president, Creative Services and
for children enrolled in New York City’s
MetLife logos and artwork for the day,
Conference Planning, who spearheaded
Department of Youth and Community
providing great visibility for the
many of the year’s 140th anniversary
Development after-school program to
MetLife brand and serving as a festive
events, “Especially during the holiday
skate with Snoopy and have their
announcement of MetLife’s arrival in
season, this was a great way to give
pictures taken with members of the
the neighborhood with the recent
back to the community and give these
PEANUTS gang.
opening of the adjacent office building.
children a unique opportunity they will
®
long remember.” ■
A
t a time when retiree income is being squeezed from
The poll also highlights a resistance to taking action in the
all sides, many are paying a price for a benefit —
wake of major market declines. A majority of current retirees
liquidity — they may not be using. This is one of the key
(59 percent) have seen retirement assets shrink as a result of
findings of a study led by MetLife’s Public Relations and
the current economic environment, and many (44 percent)
Retirement and Wealth Management groups. More than
don’t expect that the return on their retirement funds will
1,000 retired respondents participated in the research,
keep pace with inflation on the essentials. But only 42
conducted by Harris Interactive.
percent are considering reallocating their assets to products that may provide a higher rate of return.
Skating with Snoopy Caps MetLife’s 140th Anniversary Year
Kids hit the ice with the PEANUTS gang. (Far right) Jeanne Mulgrav, Debbie Krautheim, Beth Hirshhorn and Itai Shoffman of The Pond at Bryant Park
Are Retirees Steering the Right Course in Terms of Liquidity? New MetLife study shows retirees paying for a benefit they may not be using
The goal of the survey was to get more people to contemplate the possibility of increasing their returns by
Perhaps leading to this indecision, many American retirees
considering guaranteed income products like annuities. A
who have interest-rate-sensitive accounts demonstrate a lack
good number of retirees — 37 percent, the study found —
of knowledge and understanding about the products they
are holding the majority of their assets in “liquid” accounts.
currently own. One-fifth don’t know the interest rates
These include CDs, savings accounts and money market
for any of their interest-rate-sensitive accounts, and an
funds, which offer ready access to assets. But retirees may
additional 29 percent only know the interest rates for some
not intend to tap these assets any time soon.
of these products — this despite the fact that 47 percent put their money in these products specifically because of the
While some retirees have benefited from liquidity in light
interest rates they yield. Among those who do know the
of the current financial and economic environment, going
interest rate, 63 percent say those assets are generating less
forward, retirees may be disadvantaged by keeping so much
than four percent per year.
of their money on the sidelines, especially if they have no present intention of withdrawing their assets. Because of
“The goal for retirees right now is to achieve an optimal mix
the now historically low yields of liquid instruments,
of investments, liquidity and protection products. For many
retirees may be passing up potentially higher guaranteed
retirees, this means giving up some — but not all — of that
returns elsewhere.
liquidity in favor of products such as income annuities that may provide more income with guarantees,” adds Julia.
“The findings point to a disconnect between the perceived need for liquidity and the actual uses of those funds among
The MetLife survey, yet another extension of our thought
retirees,” notes Julia Lennox, vice president, the Retirement
leadership, has been getting good coverage in benefits,
and Wealth Management group. “If they stay in these liquid
human resources and investments trade publications such
assets, over time, many retirees might unnecessarily miss out
as Pensions & Investments, Human Resource Executive,
on the possibility of higher returns for a ‘liquidity benefit’
Workforce Management, National Underwriter,
that they may never use. While it’s important that every
Retirement Income Reporter, Plan Advisor and Retirement
individual have some portion of their assets in liquid
Weekly. It has also been picked up in major news outlets
accounts, many are putting the lion’s share of their
like Marketwatch. ■
“The findings point to a disconnect between the perceived need for liquidity and the actual uses of those funds among retirees.” – Julia Lennox
investable funds in such holdings and, in the process, passing up potentially higher returns for access they may not need.”
9
February/March 2009
e-Relationship: A Better Way to Connect with Clients
hen turbulence struck the
Mike Vietri, CLU, executive vice
financial markets last year, the
president of Individual Distribution,
available to the field, and it’s been
e-Relationship e-mail marketing system
urges all reps to take advantage of
expanding its reach ever since. Firm
helped MetLife and New England
e-Relationship. “e-Relationship helps
managers, for example, can now use it
Financial reps reach out quickly at a
keep lines of communication open
to keep in touch with potential recruits.
time when jittery clients most needed
with clients,” says Mike, “and right
In 2008, the platform was expanded to
to hear from a financial professional.
now, that’s absolutely critical. It’s a
allow reps to reach potential customers
powerful tool.”
in addition to current clients.
Distribution (ID)
Growing popularity
Reps can reach up to 3,500 e-mail
developed
More and more reps are putting
addresses as often as they want with
e-Relationship to
e-Relationship to work. In 2008,
e-Relationship for one monthly fee. And
help producers
approximately 1,200 reps sent more
by using e-mail, reps save paper and
maintain strong
than 4.5 million messages to almost
help fulfill the company’s mission to be
client relationships
500,000 clients and prospects. New
environmentally friendly.
in a fast-paced
materials are being added to
world. It provides
e-Relationship all the time so reps can
a way to send
provide fresh perspectives.
W
Branding, to make e-Relationship
Individual
professional-looking materials to a
“Clients have told us that the more
In the fall, she sent market-related
broad list of clients and prospects at one
they hear from their rep, the more
pieces to clients and prospects and got
time, giving reps a quick, simple and
satisfied they are and, as a result, they
a terrific response, including dozens of
efficient way to stay in touch.
would refer more and they would
“thank you’s,” 13 appointments and
buy more,” said Joseph W. Jordan,
at least one sale.
Using e-Relationship, reps could offer
“Clients have told us that the more they hear from their rep, the more satisfied they are. ” — Joseph Jordan
Rallying the Troops MetLife Auto & Home’s 2008 National Sales Meeting attendees give recuperating veterans a comforting surprise
Henry, LUTCF, of New England Financial in Orlando, FL, swears by e-Relationship.
personalized and An example of the eRelationship “storyboards” sent to clients, featuring quotes from renowned investor Warren Buffett
Financial services representative Barbara
senior vice president of National Sales.
reassuring messages as market events
“e-Relationship allows the rep to keep
“We’re always reminded to work
unfolded last fall, including such items as
connected in an efficient, effective
smarter,” Barbara said. “With
national ads attesting to MetLife’s
manner. We encourage every rep to
e-Relationship, I can hit so many clients
strength and stability, which went to
take advantage of this. It’s an
with the click of a button, it’s amazing.
more than 100,000 people; and a
investment that can pay tenfold.”
Staying in touch this way gives me credibility that other advisers out there
“storyboard” presentation featuring quotes from Warren Buffett, which
Efficient, economical and ‘green’
don’t have. It also saves me time and
prompted more than 5,000 people to
Three years ago, MetLife started
saves me money on postage. I can’t
request further contact from their agent.
working with a new vendor, Identity
imagine not having it!” ■
F
reedom is not free, and nowhere is that more evident than at
That was when participants truly realized the value of their
a veteran’s hospital. This year, during its National Sales Meeting
teambuilding activity. Life stories were casually shared by
held in Dallas, Texas just after Veterans Day, MetLife Auto &
many of the veterans, providing glimpses into their
Home decided to give back to those who served
experiences. Some vets had their stories captured on video
our country.
by the Veterans Administration to share with their families.
®
All in all, it was hard to say who got more from those visits. With satisfying memories of the teambuilding event held during its 2007 meeting in New Orleans (refurbishing an
As an extra donation to the troops, the team had mounted a
elementary school ravaged by Hurricane Katrina), the 2008
“Cell Phones for Soldiers” drive prior to the meeting to collect
National Sales Meeting planning team decided to once again
old cell phones for recycling. Every donated phone provides
promote teamwork and reap the priceless byproduct of giving
an hour of calling card time for military personnel overseas,
back to the community. Don Cunningham and Wayne Hudson,
helping them stay in touch with their loved ones. A total of
both regional sales directors, teambuilding activity leaders and
210 cell phones were brought to the meeting and presented
veterans of the armed forces, proposed a “rally for the troops”
by Scott Kuczmarski, Agency Distribution vice president, to
who served in the military.
Fred Maldonado, AT&T regional director and “Cell Phones for Soldiers” representative. The phones will provide our forces
In preparation, Don and Wayne utilized their activity budget
with almost nine days of talk time from Afghanistan and Iraq.
to purchase “comfort items” such as T-shirts, sweatshirts and
(Left to right) Associates assemble “comfort bags”; Scott Kuczmarski (right) presents “Cell Phones for Soldiers”; a comfort bag delivery; Snoopy greets a veteran
10
toiletries from the Army PX, which returns the profits to active
Noticing the flock of MetLife volunteers at the VA hospital,
military families. Then, on-site at the Dallas VA Hospital, 20
one wheelchair-bound veteran asked what was happening.
teams of 10 gung-ho sales managers competed to assemble
When offered a visit, he replied, “Oh, I’m not a patient. I’m
600 “comfort bags” for patients in an hour. The fiercely
a volunteer. It does me good to help people who are less
competitive group finished in less than half the allotted
fortunate than I am.” That’s the spirit — one that the MetLife
time, resulting in more time to deliver the bags and visit
Auto & Home’s sales management team strives to keep alive. ■
with patients.
momentum
R
ecently, MetLife’s Local Inclusion Action Team (LIAT) in
He also described some of the many challenges to creating a
Alpharetta, GA hosted its second annual LIAT Day with
healthy workplace, including injury, communicable diseases
Dr. David Satcher, M.D., Ph.D. as the keynote speaker.
such as the flu, obesity and availability of health insurance.
Dr. Satcher spoke to the meeting’s theme of “Diversity Works
Dr. Satcher also emphasized that companies need to create
at MetLife” from the perspective of his particularly distinctive
an environment where people feel comfortable asking for
background. He is a former Surgeon General of the United
help without the fear of stigma or reprisals. He added that
States and, currently, a member of MetLife’s Board of
fostering a healthy workplace benefits companies by
Directors. Dr. Satcher also established The Satcher Health
reducing absenteeism, reducing health care costs and
Leadership Institute (SHLI), is director of the Center of
improving employee morale.
Diversity at MetLife Former Surgeon General “Writes Prescription” for Alpharetta Associates
Excellence on Health Disparities at the Morehouse School of Medicine (MSM) and occupies the Poussaint-SatcherCosby Chair in Mental Health at the Morehouse School of Medicine in Atlanta.
While he was Surgeon General, Dr. Satcher also served as assistant secretary for health in the Department of Health and Human Services from February 1998 to January 2001, making him only the second person in history to have held both positions simultaneously. He was also director of the Centers for Disease Control and Prevention (CDC) from 1993 to 1998 and was the first person to serve as director of the
Concluding his remarks, Dr. Satcher presented all the
CDC and Surgeon General of the United States. Rudy Loney,
participants with a signed “prescription” for good health:
(Left) The Alpharetta LIAT with Rudy Loney (in business suit, left) and Dr. David Satcher (in business suit, right)
> Moderate physical activity, at least five days a week,
(Right) Dr. Satcher presents his prescription for health
vice president, Agency Distribution Financial Services, MetLife Auto & Home , introduced Dr. Satcher to a LIAT ®
Day audience of approximately 120 MetLife associates and
30 minutes per day > Eat at least five servings of fruits and vegetables a day
business leaders.
> Avoid toxins — tobacco, illicit drugs, and abuse of alcohol The themes of Dr. Satcher’s presentation were the disparity of healthcare, the diversity of health challenges in the workplace and the importance of creating a healthy
> Responsible sexual behavior: abstinence plus optimal protection when sexually active > Daily participation in relaxing and stress-reducing activities
workplace. He stressed that in order to enjoy their retirement years, individuals need to prepare not only
The Alpharetta LIAT was honored to host such a special guest
financially, but also health-wise.
for its LIAT Day! ■
F
ive thousand MetLife associates told us they took the Chairman’s Challengesm on Medical Plan Options in the fall and actively took steps to become better educated about their Medical Plan Options. Did you join them?
In support of Open Enrollment, this latest Chairman’s Challenge provided the opportunity to put what you’ve learned into practice and elect the best medical plan for your needs for 2009. “From mid-October through the end of the Open Enrollment period, associates were provided a wealth of resources and tools to help them learn, plan and take action with regard to their medical plan benefits,” says Margery Brittain, head of Global Benefits.
5,000 Associates Take the Challenge! Latest Chairman’s Challenge deepens associates’ understanding of our medical plan options
“Through a wide range of media, including a new online audio-visual educational format and the Plan & Cost Compare modeling tool, we helped associates who took the Challenge to deepen their understanding of their benefits and build confidence that they were making truly informed benefit choices.”
Many of you shared positive comments about the value of the Chairman’s Challenge. Now that you‘ve selected your options for 2009, don’t forget to make the most of your healthcare benefits throughout the year. Through the Associate Information Center (AIC), you can access information and tools — like healthcare tips and resources on WebMD, the Vision Discount program description and the “Price a Drug“ feature on Express Scripts, to name a few — that can help you make sure you‘re optimizing the value of your healthcare dollars every day. And, to help you and your family maintain or improve your health during 2009, including how to earn the $100 WOW Dividend, be sure to visit the AIC >> Benefits >> Wellness, or contact Wellness & Fitness Services at wellnessandfitness@metlife.com. ■
T
he Global Operations Support
managed and operated exclusively by
dependence on a third-party provider.
Center (GOSC) is commemorating
MetLife leaders and associates. This
In this new site, the GOSC will continue
an important milestone in its
ribbon-cutting celebrates more than a
to drive quality improvements and
development — and in the next
brick-and-mortar facility; it symbolizes
processing efficiencies, which are both
Momentum, we’ll take you there. In
MetLife’s achievement of end-to-end
important to fueling revenue and
late February, the ribbon was cut on
oversight of GOSC operations and
earnings growth at MetLife. Stay tuned
the new captive center, which will be
process migrations without any
for a full update next month. ■
Next Month: A Glimpse into the GOSC Ribbon-Cutting Ceremony in India
11
February/March 2009
March is Ethics Awareness Month: Live by the Code!
L
ike a good road map, MetLife’s
Though our Code is a navigation tool
and laws in every decision you make.
Employee Code of Business Conduct
specifically designed to guide your daily
Finally, be a model of ethical action by
and Ethics can help you get your
decisions, you have to understand its
ensuring associates know that you
bearings in a tough situation. It outlines
contents and access it when needed in
always include ethical considerations in
our company’s expectations and the
order to reap its benefits. So review the
your decisions.
responsibilities we each bear. The Code
Code on my.metlife.com >> Our
provides guiding principles and suggests
Company >> Policies and decide where
MetLife’s Code of Conduct sends a clear
ways to apply these principles. It also
you should turn if you have a concern.
message about where our company is today and what our emphasis is as we
summarizes our policies and procedures about important topics such as
The WOW Dividend Program offers you $100 toward medical, dental or LTD benefits costs
move forward. When you read,
conflicts of interest, diversity and
introduce the Code to your team as a
understand and utilize the Code in
equal opportunity.
resource. Consider ways to help your
your daily business decisions, you are
direct reports understand the topics in
protecting our company’s good
the Code. Practice ethical decision
reputation and demonstrating our
making by including consideration of
company values. ■
A reminder to live by the code: A poster from MetLife about our Employee Code of Business Conduct and Ethics.
Everyone Could Benefit from $100
If you are a supervisor or manager,
ethics, our guiding principles, policies
G
for completing a program phase. Each program includes
(WOW) Dividend Program, you and your family can do
Dividend Points for completing an improvement program.
et healthier in 2009 and earn $100 or up to $300 per
family! By completing the Working On Wellness
both. The program, offered by Wellness & Fitness Services,
10 program phases, so participants can earn a total of 50
> Exercise Tracker and/or Walking Planner — Regular
rewards associates and their families for practicing good
exercisers can enter workout sessions into the Exercise
health habits.
Tracker and/or the Walking Planner and earn two points for each data entry (maximum of 50 points can be earned).
This year, all adult participants must accumulate 100 Dividend
> WOW Dividend Confirmation Tracking Number —
Points on the WebMD Web site by August 31, 2009 to be
After completing all program requirements, a Dividend
eligible to receive the $100 WOW Dividend. This dividend is
confirmation tracking number will post to your
applied to medical, dental or long-term disability benefits
Redemption History section on the WOW Dividend
costs in 2010. Adults earn 100 Points by completing the
Program page on WebMD. Participants are responsible
required Health Quotient (HQ) for 30 points and by
for knowing their confirmation tracking number as
completing other qualifying actions for the remaining
proof of completion of the WOW Dividend Program.
70 Points.
Without a tracking number, no dividend will ne awarded; no exceptions will be made.
Remember: parents can also earn the $100 Dividend for eligible children! Visit WebMD for complete program details.
Visit WebMD today for complete program details. Associates can log in to the Associate Information Center (AIC) and go
Highlights of WOW Dividend Program changes for 2009:
to Benefits >> Wellness >> Working On Wellness Dividend Program. Or, click “WebMD website” under “Quicklinks”
> “$100 WOW Dividend Thursdays” — Most program
on the AIC home page.
communications will be posted Thursdays in MetLife NewsDaily on my.metlife.com. Participants may also visit
Questions about the 2009 WOW Dividend Program? Click on
the WebMD site now for complete program details.
the “Questions” link at the top of your WebMD home page
> WebMD’s Improvement Programs — Participants can earn five points per week for a minimum of 10 weeks
Coming in April: The New Momentum Online
or send your question to Wellness & Fitness Services at wellnessandfitness@metlife.com. ■
etLife associates: we heard you!
The new Momentum Online will
Next month, be sure to check out the
In our recent Momentum survey
feature text versions of all the stories
new Momentum Online, which will be
(see details in the January Momentum),
you see in the printed Momentum.
available from a special link on the
several respondents asked to see a
Momentum Online will also feature
my.metlife.com home page. And let
better way to access Momentum stories
“bonus stories” you won’t see in the
us know how you like our enhanced
online. So, starting next month, we’re
print edition. Plus, our online stories
online publication by sending us a
enhancing the online version of
will periodically include interactive,
Lotus Notes email. (To send us an email,
Momentum to offer you an easier-to-
audio and video components.
simply type “Momentum” in the “To”
M
read, more robust online experience.
field of a Lotus Notes message.) ■
Momentum is published by MetLife Internal Communications for associates enterprise-wide. Send questions, comments or ideas for stories to momentum@metlife.com. Vice President, Internal Communications: Susan Berger Editor: Greg Potter Law Department Liaison: Mark Schuman Contributors: Toby Axelrod, Kasana Banks, Tammy Bone, Ross Calvert, Caroline Campanelli, Judy Downey, Mike Dynon, Gina Gelman, Toni Griffin, Barbara Immergluck, Julia Levy, Michael Markowitz, Katherine Paulson, Janine Wright PEANUTS © United Feature Syndicate, Inc., www.snoopy.com © 2009 MetLife, Inc. Printed in USA (0309) Statements made in this publication may constitute forward-looking statements within the meaning of the federal securities laws, including statements relating to trends in the company’s operations and financial results, the markets for its products and the future development of its business. MetLife’s actual results may differ materially from the results anticipated in the forward-looking statements asa result of risks and uncertainties, including those described in MetLife, Inc.’s filings with the SEC. MetLife specifically disclaims anyobligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
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