MetLife to Serve in PlanSource’s Employee Benefits Platform

Global life insurance, annuities, employee benefits and asset management provider – MetLife, Inc. MET – was recently added to PlanSource Inc.’s distribution platform for employee benefits.

PlanSource is a leading provider of cloud-based health exchange and benefits engagement technology. The company has a highly-configurable, consumer-friendly benefits engagement platform – PlanSource OneMarket – which was launched in 2014. This platform enables employees to select benefits that are most suitable for them as it puts together standard benefit products and services from top insurers in a single marketplace.

The tie-up with MetLife will now add the company’s portfolio to PlanSource’s employee benefits platform – PlanSource OneMarket. With this addition, a large group of employees will now be able to benefit from the marketplace in the best possible manner.

Furthermore, the deal will allow consumers to access eleven of MetLife’s product lines via the aforesaid platform. These include traditional benefits such as Basic and Supplemental Life, Dental and Vision, as well as ancillary benefits such as Accident, Hospital Indemnity, and Critical Illness. Moreover, once the employees are registered they will be able to access their benefits information through the PlanSource Mobile App.

Also, the tie-up will blend in the expertise of both companies to facilitate access to and education of more employees about offers on products and benefits. Expansion of product lines plays an important role in generating new business, thereby improving the top line. MetLife’s consistent focus on boosting its traditional product portfolio and worldwide growth is expected to enhance its operating leverage. This, in turn, is likely to enhance the company’s market position and help it outperform its peers.

Currently, MetLife carries a Zacks Rank #3 (Hold). Better-ranked stocks in the multi-line insurance sector are ageas SA/NV AGESY, Assured Guaranty Ltd. AGO and Prudential plc PUK. While both ageas SA/NV and Assured Guaranty sport a Zacks Rank #1 (Strong Buy), Prudential holds a Zacks Rank #2 (Buy).

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