KATHMANDU: MetLife, one of the world’s leading insurers, has celebrated its 20th anniversary in Nepal this week.
Since its first opening and operations in Nepal on 5 December 2001, MetLife has been a significant contributor to the growth and advancement of Nepal’s insurance industry, introducing many product and service innovations, supporting talent development, and helping more people across the country benefit from financial protection through microinsurance.
Nirmal Kajee Shrestha, Vice President and General Manager for MetLife in Nepal said, “The world around us has changed and continues to change, but one thing remains constant: our commitment to helping individuals, families, and communities across Nepal build a more confident future. As we celebrate 20 years in Nepal, we want to thank our loyal customers who have made it possible for MetLife to be a part of their lives.” “We would also like to thank our regulators, field force, employees and other business partners for their continuous support and contribution which enabled us to provide better service and experience to our customers. We will continue our effort to constantly innovate, providing advanced protection solutions and digital experiences to our customers taking a leading role in the development of the life insurance industry in the country,” he added.
Over the past 20 years, MetLife Nepal has paid over Rs 2.5 billion in claims, developed more than 40,000 careers through employment and training opportunities and maintained financial stability with Rs 2o billion Life Insurance Fund and Rs 2.74 billion in Reserves as of November 2021. Currently, MetLife is providing insurance coverage to more than 1.4 million lives in Nepal.
MetLife always strives to make an impact, not just in business but on the wellbeing of our customers, communities and society and has established a leadership position in Nepal’s insurance industry through a number of services provided for the first time in the country;
• First to provide international standard life insurance training to employees and agents in 2002 to develop insurance expertise in the country.
• First to offer education protection product in 2003, providing coverage for both child and parent
• First to introduce Microinsurance in 2009
• First to pay claim during the 2015 Earthquake, the highest number of claims paid
• First to launch a special protection plan for women, LifeCare, covering major critical illnesses impacting women including breast and cervix cancer
• First to provide an online premium payment solution for customers. Apart from this, MetLife also has introduced a Digital Sales Platform (KITE), Customer Servicing App and Online Claims Intimation to provide an overall seamless digital experience for its customers and partners.
MetLife has been operating in Nepal since 2001 as a branch of American Life Insurance Company, incorporated in the USA, subsidiary of MetLife, Inc. In Nepal, MetLife provides consumers and businesses with life insurance, accident and health insurance and employee benefits (group insurance).
MetLife, Inc (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world.
Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.