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Transcript of MetLife 02
Telling Our Story Last month, I had occasion to speak
at the 2009 Financial Services
Conference sponsored by Citi Investor
Research. In today's difficult economic
environment, it is more important than
ever to share our story with the multiple
and important stakeholders who impact
our business. Over the course of the
past few months, we have had some
challenges to talk about, but we have
been and will continue to be honest and
forthcoming in our communications —
to you, our employees, as well as to
customers and shareholders.
The focus of my remarks at the
conference was that “MetLife is big;
we are strong; and we are trusted.” We
talked about this at Investor Day and
you will hear me and other senior
MetLife leaders return to this theme
throughout the year as we tell the
MetLife story. Particularly in times like
these, it is important to remind people
that MetLife is successful not because
we are big, but that MetLife is big
because we are successful. This is an
important distinction and a great
place to be.
MetLife also is continuing to benefit
from a flight to quality. Customers want
to do business with a company they can
trust to be there for them in the long
run. This is one of the reasons why in
2008 we saw tremendous growth in our
top-line performance (see page 7 for a
snapshot of 2008 results). It is also why,
throughout our businesses, we continue
to gain customers and, in many cases,
outpace the market.
Though many forecasters say that the
difficult economic climate will continue
for some time, I am confident that
MetLife is well positioned. Our capital
strength, strong ratings and focus on
the long-term not only set us apart, but,
together with our diversified businesses
and investment portfolio, make us truly
unique in the marketplace. �
momentumFeatured Inside
Steal This Car!
MetLife Europe Grows Its Own
Contingent Staffing
to the Rescue
Groundbreaking Pension
Risk Attitude Study
Keeping Our Promises
The New MetLife.com
Capturing the Year in Numbers
Protecting Privacy in a
Borderless World
Skating With Snoopy
Retirement Liquidity Study
e-Relationship
Rallying the Troops
Diversity at MetLife
5,000 Take the
Chairman’s Challengesm
Ethics Awareness Month
Everyone Could Benefit
from $100
Volume 11, Issue 2
F e b r u a r y / M a r c h 2 0 0 9
1< Be sure to visit Momentum online at my.metlife.com >
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Rob HenriksonChairman, President and CEO
2008: Capturing the Year in Numbers. See page 7.
. . . 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.
See Page 3 >
EDITOR’S NOTE:Momentum will publish combined(two-month) editions occasionallyduring 2009. This is the combined
February/March edition.
F e b r u a r y / M a r c h 2 0 0 9
2
Car thieves in Chicago are finding that if they do the
crime, they’ll have to do the time.
Since 2007, MetLife Auto & Home® has collaborated with the
Chicago Police Department and the Cook County State’s
Attorney’s Office to combat auto theft through the
deployment of a “bait car.” Their
efforts are paying off not only with
a reduction of thefts, but also
with an increase in convictions
of perpetrators.
The bait car was donated to the city by
MetLife Auto & Home’s Claim Department, in close
cooperation with the Law Department and the
Special Investigation Unit (SIU). The vehicle is secretly
equipped with video cameras, a global positioning
system for tracking, and devices to remotely disable the
engine and lock the doors.
Larry Cholewin, SIU regional manager in the Chicago area, is
MetLife Auto & Home’s liaison to the police department.
“The Chicago PD’s Covert Auto Theft Team (C.A.T.T.), which
consists of 10 officers and one sergeant, places the bait car on
the street in areas of the city where auto theft is prevalent,”
Larry explains. “A thief who attempts to steal the bait car
soon realizes the only way out is into the waiting arms of
the police.”
In order not to tip off the potential thieves, the bait car’s
identity is closely guarded. When the program was featured
on local TV news in the Windy City, the vehicle was
completely hidden under a wrapper.
Other law enforcement agencies admire the results Chicago
has achieved with MetLife Auto & Home’s support, Larry
notes. “As the project has moved forward, auto thefts have
declined in the troubled districts of the city, and there has
been a corresponding dramatic increase in the number
of arrests.”
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
arrests, and a one hundred-percent conviction rate has been
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
to serve a total of 81 years in the Illinois House of Corrections.
“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
initiatives such as this will benefit everyone and improve the
quality of life in Chicago. The results have been astounding
and we are proud to assist in this effort.” �
Steal This Car!
MetLife Auto & Home helps
Chicago Police catch thieves
in the act
Finding high-quality, committed and
capable sales people is a challenge
wherever you are in the world. In the
United Kingdom, MetLife Europe
decided to try to “grow their own” by
introducing a graduate recruitment sales
program. “As part of our sales expansion
plans, we took a risk bringing fresh
graduates into sales roles,” explained
Mike Phillips, head of Distribution. “It’s
not something that is considered very
often. However, taking calculated risks
is a key sales competence.”
Working with graduate recruitment
specialists meta-morphose and Pareto
Law, Mike and his team brought a total
of 30 graduates into sales roles during
June and October of last year. The
graduates’ positions consist of regionally
based sales roles, which entail working
face-to-face with independent financial
advisers, and internal telephone sales
roles, which are based in prestigious
Canary Wharf in London. Both types
of positions provide development
opportunities for the graduates
over time.
“Most of the graduates had some work
experience,” says Fiona Gummerson,
sales operations and development
manager. “As we quickly discovered,
that gave them a key advantage. But
only one or two had any financial
services experience or knowledge.
We designed an intensive four-week
training program, introducing the
graduates to the U.K. financial
services marketplace, MetLife and the
products and services we offer in
the U.K. Many people across the
organization representing several
areas of expertise were involved in
delivering the program. It also gave
the graduates the chance to meet as
many of their colleagues as possible.”
Following the initial training, the
graduates spent a week with either
meta-morphose or Pareto Law working
on basic selling skills. Then, they
shadowed colleagues on live calls and
visits to gain an understanding of how
to put all of the knowledge they had
learned into practice in the real world.
The 10 associates who graduated in
June have already been instrumental to
the organization. Their sales figures are
demonstrating that this is a viable way
to broaden MetLife’s recruitment
efforts in order to attract quality sales
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
wholesalers, we now have a great blend
of youth and experience. This group
of individuals is playing a valuable
in transitioning MetLife in the U.K.
from a start-up to a full-fledged,
successful business.” �
Growing Our Own
MetLife Europe introduces
an innovative graduate
sales program
On the streets of Chicago: Cook County Assistant StatesAttorney Sandy Navarro, Cook County Assistant StatesAttorney Kevin Byrne, Larry Cholewin of MetLife’s SIU andCook County Assistant States Attorney Al Vroustouris
Ready for a MetLife future:Graduates of MetLife Europe’s new
sales recruitment program
“We took a risk bringing fresh
graduates into sales roles.
. . . However, taking
calculated risks is a key
sales competence. ”
— Mike Phillips
Will we see theseideas in action?The results of all five Business
Acumen exercises impressed the
senior business leaders who
sponsored each exercise. Currently,
all the ideas are undergoing review
for possible implementation.
The Integrated Print Proposal
Project team: James Castillo, Bruce Cook, Julienne Godwin,
Jeffrey Hollander, Joann Kraemer, Jeff Rossetti
Project sponsors: Roy Anderson, Heidi Ruzzo
To MetLife customers, an insurance statement is more
than just a piece of paper they receive in the mail; it’s an
expression of who MetLife is and how we treat our customers.
In analyzing our statements, Joann Kraemer of MetLife
Auto & Home® said her Business Acumen team conducted
extensive interviews, brainstorming sessions and even got
the customer perspective.
“What we found,” said Joann, “is that we do a phenomenal
job with our up-front branding through our marketing
materials but not in our post-sales communications. At a
glance, some customers can’t see that certain statements are
coming from MetLife . . . and they don’t understand some of
the jargon we use. Ultimately, that costs money because we’re
fielding phone calls and questions — and it frustrates
customers, threatening our relationships.”
As a result, the team developed a series of recommendations
that included a standardized MetLife format across lines of
business for all statements, the use of “plain language” in
statement text and the creation of “messaging space” on
statements that would educate and inform customers about
our products and services. They also proposed a Shared
Services Group that would ensure consistency in the look
and feel of MetLife statements across lines of business to
improve branding.
The team also saw huge cost savings in Web-based delivery of
statements. While common practice is to provide paper
statements and offer opting in to electronic delivery, Joann
says the team proposed a paradigm shift: electronic delivery
up-front, with an “opt in” for paper. They also proposed a
“client dashboard” — a single Web page through which
customers can access all their MetLife statements and
accounts. “That’s the way people are managing their lives,”
says Joann. “We need to align with that. In the eyes of
customers, serving them from the perspective of how they’re
living today is Operational Excellence.”
The Personal History Interview Proposal
Project team:Michael Eng, Barbara Francis-Fulop, George
Lesch, Tony Llopis, Bruce Schindler, Sharon Seabaugh
Project sponsors: Kieran Mullins, Mike Harwood,
Jill Garofalo, Maureen Leydon
When Individual Business’s customers apply for insurance,
personal history interviews (PHIs) provide critical information
we need to properly assess our risks and price our premiums.
Yet, when a Business Acumen team was assigned to evaluate
PHIs, they discovered a process that was lengthy, relatively
expensive, dependent on outdated technology and a source
of irritation for both customers and producers.
“We interviewed 35 people in connection with the process,
analyzed historical materials and even set up a PHI
information library,” says team member Michael Eng of
Legal Affairs. “We found that MetLife was getting complaints.
Many PHI questions were the same ones that customers had
already been asked by their sales representatives. Some
questions didn’t even apply to the customer’s specific
situation. Plus, our process was longer and more costly on
average than that of our competitors. To top it off, the
process did not lead to any real improved underwriting
decision making.”
The team’s solution: to re-engineer the “one size fits all”
nature of MetLife PHIs and develop a streamlined process
that is customized to individual customer situations. They
proposed conducting PHIs only “for cause” — in other words,
only when certain ”red-flag“ risks were involved. They
recommended developing specialized scripts for each of these
risks, resulting in a PHI that would provide more specific
information for better underwriting decisions. They also
outlined new technology solutions that would deliver higher-
quality statistical analyses of our experiences in using each PHI
script, enabling script improvements on a continuous basis.
“The key was that we were invited to do more than ‘kick the
tires’ of this process — we were invited to ‘look under the
hood,’” said Michael. “Our project sponsors told us nothing
was off the table, so we felt free to look at things critically
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 >
Ever felt “out of your comfort zone”?
Picture this: You’re sent to a MetLife
workshop filled with people you’ve
never met before. The instructor teams
you up with several of these “strangers,”
tells your team about a MetLife business
process that’s totally outside your area
of expertise, and gives you just 90 days
to develop breakthrough ideas to
make that process faster, better and
more profitable.
That was the challenge faced by
participants of MetLife’s recent Business
Acumen workshop — an intense,
three-month development experience
designed for MetLife leaders. During the
workshop, a primary goal was to stretch
attendees’ abilities to think and act in
ways that align with the objectives of
Operational Excellence.
Joie Townsend, vice president,
Leadership & Management
Development, says, “In total, there
were five teams that developed
proposals around either Operational
Excellence or our Strategic Initiatives,
and they all did an impressive job.”
While we don’t have the room in
Momentum to cover all five proposals,
each so clearly illustrates the meaning
of “faster, better, more profitable” that
we wanted to share at least a sample
with our readers.
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.
momentum
3
Faster, Better,More Profitable
A recent workshop challenged
leaders to adopt an
Operational Excellence
mindset and run with it
“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
Continued from Page 3�
“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.
4
F e b r u a r y / M a r c h 2 0 0 9
Faster, Better,More Profitable
A recent workshop challenged
leaders to adopt an
Operational Excellence
mindset and run with it
The Client-Specific Customization Proposal
Project team: Elisabeth Bedore, Kristen Denice, Ray
DiGiovanni, Joan Falcetta, Cynthia Ko-Baek, Ken Sardusky
Project sponsors: Todd Katz, Michael Fradkin, Scott Boutin
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
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.
“While customization is definitely one of our competitive
advantages, there’s a cost to it,” says the Information
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
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.”
To improve the process, Joan and her fellow team members
conducted interviews with 52 Institutional Business
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
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.”
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
step of the way so that requests can be executed relatively
quickly and with higher customer satisfaction rates.
“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.” �
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.
Many business operations
experience natural peaks and
valleys in their workload. Recently, the
Benefit Services Organization (BSO) in
Institutional Business developed a new,
collaborative solution for handling the
ups and downs of its work volume. That
solution, which is already improving effi-
ciency and controlling costs, is
Contingent Staffing.
BSO is responsible for supporting
Institutional’s group customers. These
customers rely on the BSO to provide
them with a seamless, positive service
experience — from the request for
proposal (RFP) right
through the underwriting,
sale, implementation and
ongoing administration of
their programs. To ensure
great service during these
especially busy times,
Contingent Staffing
utilizes associates from
across the BSO and
“shares” them with other BSO areas
that are undergoing peak periods. This
not only keeps service at a high level, it
also provides valuable opportunities for
associates to expand their skill sets by
temporarily taking on assignments in
different areas.
“We are a large and diverse
organization of highly skilled
associates,” says Tom Purcaro, BSO
senior vice president. “The Contingent
Staffing solution provides a great
opportunity to leverage our vast
knowledge, manage critical peak
periods and offer our associates
challenging growth experiences.”
Due to the high volume of work that
the BSO’s Mid/Large Market Case
Implementation area traditionally
experiences around the first of every
year, that area was chosen as the pilot
of the Contingent Staffing solution.
Utilizing a thoughtfully constructed
business model, contingent staffers
were selected based on their
business knowledge, experience
and competencies.
These staffers quickly gained the
comprehensive knowledge and skills
needed for this assignment through a
customized training program developed
by the BSO. To ensure the team
continued to meet the high-quality
service standards MetLife customers
expect, learning partners were assigned
to assist contingent staff members and
a rigorous quality assurance program
was established.
“It is important to note that the
associates on our first Contingent
Staffing team are not the only
contributors,” adds Tom. “Their
respective teams, managers and
colleagues throughout the BSO
supported the effectiveness of this
solution by maintaining the day-to-day
workflow in their areas. This is a
collaborative effort that only succeeds
through a solid commitment
from everyone.”
Results indicate that the solution is
working. During fourth quarter
2008, contingent staffers provided
tremendous assistance to the Mid/
Large Case Implementation team by
completing approximately 17 percent
of all new business for the team’s
January 1 implementation cycle with
great quality results.
Due to this success, the BSO anticipates
that Contingent Staffing will expand
to support the Dividends process
during its upcoming peak periods.
A Contingent Staffing solution is also
in the initial planning stages for the
Mid/Large Market Underwriting and
Proposal Teams. �
Contingent Staffingto the Rescue
New workload solution
helps keep service levels up,
expenses down
Contingent Staffing team members KimJakubowski, Kris Erdrich, Gary Jones,Brenda Agresta, Yili Pokay, BridgetHagspihl, Anne Wilson, Paula Teich,Holly Steffen, Jeff Cormany, HeatherKekev, Ron Gillingham, Alma Forster,
Rob Blaisdell, Julia Lawlor, Tchad Harris
“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
Asset AllocationMeeting Return Goals
Underfunding of LiabilitiesAsset and Liability Mismatch
Accounting ImpactLiability MeasurementAbility to Measure Risk
Negative AlphaPlan Governance
Fiduciary Risk & Litigation ExposureInvestment Valuation
Decision Process QualityAdvisor Risk
Inappropriate TradingQuality of Participant Data
Longevity RiskMortality Risk
Early Retirement Risk
Though shrinking in number, defined
benefit (“DB”) pension plans remain
an important part of the investment and
retirement security landscape. In the
U.S., they account for $2.3 trillion in
assets and cover nearly 42 million plan
participants, of whom over 20 million
are active employees, according to the
U.S. Department of Labor.1 Yet, until
now, relatively little has been known
about how plan sponsors view and
manage their DB plan risks.
A leader in the pension risk transfer
business, MetLife recently sought to
measure the attitudes of corporate
decision makers on the investment,
liability and business risks associated
with managing their DB pension plan
liabilities. The result is brand new,
original research entitled the MetLife
U.S. Pension Risk Behavior IndexSM.
Launched in January, this new research is
serving as a centerpiece of Institutional
Business’s thought leadership platform
“Making Good on the Promise of a
Secure Retirement” — and it’s
tremendously important to our
customers. Pension risks can be sizeable.
More than one company has faced
pension troubles in recent years. Some
have decided to freeze their DB plans
to new entrants; others have severely
underfunded plans.
“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.”
“We believe that the results of this study
will help increase awareness among
pension plan sponsors about the need to
take a more comprehensive view of the
risks associated with today’s pensions
plans,” added Bill Mullaney, president,
Institutional Business.
The first-of-its-kind study focused on
some of the largest pension plans in the
U.S. One-hundred sixty-eight corporate
plan sponsors were asked to rank the
importance of 18 different risk factors
identified by a panel of industry
experts and researchers. They were also
asked how they are addressing the risks
they identify as important.
Among the major study findings, plan
sponsors report that they are focused on
only a few risk factors associated with
their pension plan. Many also report
inconsistent success in addressing the
risks they view as most important.
Generally, the plan sponsors ranked
investment-type risks, like “asset
allocation,” “meeting return goals” and
“under-funding of liabilities,” as most
important. Risks associated with liabilities
created by the plans ranked least
important and may be less well
understood or accounted for in their
risk analysis. These include “longevity
risk,” “mortality risk” and “early
retirement risk.”
“The research suggests that many
plan sponsors manage risk factors
individually rather than holistically,”
says Cynthia Mallett, vice president,
Product & Market Strategies in
MetLife’s Institutional Business, who
led the research in partnership with
Market Research, Marketing and
Public Relations.
Over time, the approach of focusing on
some risks — and ignoring others —
could have serious repercussions for
companies, including depressed
earnings and unnecessary volatility in
earnings or cash flow, according to
Cynthia. “This groundbreaking research
will raise the volume on the issue and
help jumpstart meaningful conversations
about how to more holistically think
about and manage pension risk,”
she said. “The more plan sponsors
understand all of their DB plan risks,
and how they are interconnected, the
better prepared they are to keep their
promise of a secure retirement to
plan participants.” �
5
momentum
GroundbreakingMetLife StudyUncovers PensionRisk Attitudes
Are plan sponsors focused on
all the right pieces of their
risk management strategy?
What is pension risk transfer?
Pension plans can expose sponsors (the employers who offer them) to multiple
risks. External factors such as fluctuations in the financial markets, demographic
shifts and changing legal and regulatory requirements can lead to unexpected
cash flow needs, balance sheet volatility and increased administrative
responsibilities associated with the plans.
MetLife can help companies reduce their pension risks. Through Institutional’s
Corporate Benefit Funding group, plan sponsors can access a variety of risk
transfer solutions — some which lessen a portion of the risk and others, like a
pension closeout, which remove the plan sponsor’s pension risk completely. Our
expertise in understanding pension risk, and how to mitigate it, has made us a
leader in this business. As of December 31, 2007, MetLife had over $30 billion in
transferred defined benefit pension liabilities.
What’s a defined benefit
pension plan?
Often referred to as a traditional
pension plan, a defined benefit pension
plan determines a future benefit to be
paid to a participant based on a
specified formula that typically includes
participants’ pay level and service.
Participants generally are not required
to make contributions or investment
decisions, and the employer funds the
plan in order to pay future benefits
to 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.”
— Bill Mullaney
From the survey: How often each kind of pension risk was selected as
“most important” when presented with other risk items.
1. U.S. Department of Labor, Employee BenefitsSociety Administration, Private Pension PlanBulletin Historical Tables, Feb. 2008
Source: MetLife U.S. Pension Risk Behavior Index
0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00%
F e b r u a r y / M a r c h 2 0 0 9
6
In today’s world, the Internet is an essential channel for
providing customers with the solutions they need for
themselves, their families and businesses. Nearly 80 percent
of U.S. adults research products online, and more than 90
million use online banking. But it takes more than a Web site
to stay ahead of the competition; it takes a great Web
experience, with interactive
tools, easy-to-use navigation
and content tailored to
the different reasons users
visit a site.
The new MetLife.com is all
these things, and more.
The revamped Web site was
launched in January, with a
fresh, new design, updated
content and a better search
function. Three customized
home pages cater to
individual consumers,
businesses and brokers/
consultants, with targeted
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.
These features aren’t just good for users — they’re good for
our business, according to Manish Bhatt, vice president,
Interactive & Web Solutions. “New navigation capability will
mean visitors can find what they’re looking for more quickly
and easily, improving their satisfaction and likelihood of
doing business with MetLife,” says Manish. The new platform
also has better metrics-tracking capabilities, so MetLife can
see how site enhancements help us reach business goals.
The ITG Global Applications and Enterprise Infrastructure
teams were instrumental in developing the platform to
support the new site. This collaborative effort enabled the
teams to find innovative solutions that will be leveraged
throughout our many Web sites and lines of business.
MetLife’s focus on MetLife.com in recent years led to more
than nine million visitors and over 107,000 Internet leads in
2008. As the new site evolves with new content, new tools
and continued improvements to the user experience, we can
expect even bigger and better numbers in years to come.
If you haven’t had a chance to explore the new MetLife.com,
check it out! You’ll be amazed at how much information is at
your fingertips and how simple it is for all of our customers
to find the products and services they need. �
In today’s uncertain and volatile
market conditions, the guarantees
provided by MetLife’s individual
annuities are particularly important to
our customers, offering them peace of
mind in turbulent economic times.
One way that the MetLife companies
ensure we can deliver on these
guarantees is by adhering to strict,
disciplined risk management strategies
that include prudent product design,
hedging and reinsurance.
Prudent product design
MetLife’s annuities are designed to
offer clients value while limiting the
company’s risk exposure. In creating
that design, product management
weighs an appropriate combination of
features, limitations, requirements
and fees so that our guarantees are
competitive in the marketplace, yet
financially sound. For example, the
contractholder may only be able to
exercise a guarantee up to a certain
age or after a holding period.
Hedging
The Retirement and Wealth Strategies
group in Individual Business works with
MetLife’s Investments department to
develop hedging programs designed to
help mitigate risks associated with the
annuity guarantees we provide, such
as interest rate, equity and currency
risks. By definition, a “hedge” is an
investment made specifically to offset
another risk. Purchasing hedging
instruments lowers the gains, on
average, but also significantly reduces
the potential for larger losses. Hedging
helps allow the MetLife companies to
stabilize their balance sheets, reduce
economic losses and pay for the
guarantees in the optional benefits
when the market reduces the benefits’
performance.
Reinsurance
In some cases, the Retirement and
Wealth Strategies group will pass a
portion of the risk, though not the
obligation or guarantee, to another
insurance company, called a reinsurer,
in exchange for a portion of the
premiums paid. This takes some of
the burden off MetLife.
Giving clients a sense of security
Given today’s turbulent market, it’s
important that brokers and clients
know about MetLife’s risk management
strategies. This is why the Retirement
and Wealth Strategies group has made
it a point to reassure brokers and
clients of the MetLife companies’
strength and our ability to meet our
obligations — particularly since an
annuity’s guarantees are subject to the
financial strength and claims-paying
ability of the company that issues the
annuity. Here are just two examples of
marketing materials produced by the
Retirement and Wealth Strategies
group Annuity Marketing department
that tell our story:
> Keeping Our Promises risk
management brochure — This piece
will be approved for clients and
highlights MetLife’s long history,
strength and stability, as well as our
strategies for managing risks.
> Promises Campaign — This campaign
reinforces MetLife’s strength and
stability and includes a broker
mailer and client letters. �
The issue of delivering on our annuity
promises was also a topic at MetLife’s
recent Investor Day meeting. For
more detail, see the Investor Day
story in the January 2009 edition of
Momentum. (Visit my.metlife.com
and click on “Momentum.”)
Introducing the NewMetLife.com
A redesign of our public
Web site
The new MetLife.com as viewed byindividual customers
Keeping OurPromises
How MetLife uses disciplined
risk management to deliver on
its annuity guarantees
Two examples of marketing materialsthat tell our risk management story:
the “Promise Campaign” (left)and the “Keeping Our Promises” risk
management brochure (right)
Capturing the Yearin Numbers
momentum
7
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 financialstatements 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 netincome available to common shareholders, net income available to common shareholders per diluted common share, operating earnings available to common shareholders and operating earningsavailable to common shareholders per diluted common share, respectively. Net income available to common shareholders and net income available to common shareholders per diluted commonshare are defined as Generally Accepted Accounting Principles (“GAAP”) net income and GAAP net income per diluted common share less preferred stock dividends, respectively. The historicaland forward-looking financial information presented in this presentation includes performance measures which are based on methodologies other than GAAP. MetLife analyzes its performanceusing so-called non-GAAP measures, including operating earnings, operating earnings available to common shareholders, operating earnings available to common shareholders per dilutedcommon share and operating return on common equity. MetLife believes these measures enhance the understanding and comparability of its performance by excluding net investment gainsand 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 discontinuedoperations other than discontinued real estate, net of income tax, thereby highlighting the results from operations and the underlying profitability drivers of the business. Operating earningsavailable 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 tocommon shareholders and GAAP net income available to common shareholders per diluted common share, respectively. Operating earnings is defined as GAAP net income, excluding netinvestment 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 operatingearnings. Operating earnings available to common shareholders is defined as operating earnings less preferred stock dividends, which are recorded in Corporate & Other. Operating earningsavailable to common shareholders per diluted common share is calculated by dividing operating earnings available to common shareholders by the number of weighted average diluted commonshares outstanding for the period indicated. Operating return on common equity is calculated by dividing operating earnings available to common shareholders by average common equity forthe 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 forthe full year ended December 31, 2008 and 2007, respectively, and excludes gains (losses) of $3 million and $164 million for the full year ended December 31, 2008 and 2007, respectively,from scheduled periodic settlement payments on derivative instruments not qualifying for hedge accounting treatment.
(3)Adjustments related to net investment gains (losses), net of income tax, include amortization of unearned revenue and deferred acquisition costs, adjustments to the policyholder dividendobligation and amounts allocable to certain participating contracts.
(4)Discontinued operations, net of income tax, excludes gains (losses) from discontinued operations related to real estate and real estate joint ventures.
In the previous Momentum, we
reported on Investor Day 2008,
at which MetLife’s senior leaders
described MetLife’s business
accomplishments and challenges
during the past year. Here, we
take a different view of 2008: a
“by the numbers“ look at our
financial highlights.
Financial Results ($ in millions except per share data)(Years ended December 31) 2008 2007
Premiums and feesNet investment incomeOther revenues
Total
$31,27716,3041,586
$49,167
$28,22018,3281,465
$48,013
Policyholder benefits and dividendsInterest credited to policyholder account balancesOther expenses
Total
$29,0074,743
11,403
$45,153
$25,3495,435
10,554
$41,338
Operating earnings available to common shareholders (1)
Net investment gains (losses), net of income tax (2)
Adjustments related to net investment gains (losses), net of incometax (3)
Discontinued operations, net of income tax (4)
$2,7361,100(443)(309)
$4,570(564)(24)198
Net income available to common shareholdersPreferred stock dividendsNet income
$3,084125
$3,209
$4,180137
$4,317
Earnings per common share calculation:Weighted average common shares outstanding — dilutedOperating earnings available to common shareholders per common share — diluted (1)
Net income available to common shareholders per common share — diluted
793.60$3.67
$4.14
754.10$6.00
$5.48
Financial Highlights — 2008
$35,000
$30,000
$25,000
$20,000
$15,000
$10,0002005 2006 2007 2008
$600
$500
$400
$3002005 2006 2007 2008
$25,976
$28,072$29,685
$32,863
Premiums, Fees andOther Revenues
($in
millions)
$482.8
$528.1
$559.1
$501.7
Total Assets
($in
billions)
2008 Diversified Net Income(excludes Corporate &Other)
Auto & Home
InternationalBusiness
IndividualBusiness
InstitutionalBusiness
$1,750
$1,500
$1,250
$1,000
$750
$500
$250
0
($250)
($500)
($750)Institutional Individual International Auto CorporateBusiness Business Business & Home & Other
2008 Operating EarningsAvailable to Common Shareholders
($in
millions) 8%
17%
19%
56%
U.S. Employees
41,000
Worldwide Employees
56,000
Customer Reach
MetLife is a leading provider of
insurance and other financial services
to over 70 million customers around
the world and, in the United States,
serves over 90 of the top one
hundred FORTUNE 500® companies.
Outside the United States, the
MetLife companies have direct
operations in Latin America, Europe
and Asia Pacific.
#1 U.S. Life Insurer
Largest life insurer in the United
States with approximately
$3.4 trillion of life insurance
in-force as of December 31, 2007.
$1,674
$743
$522$363
($566)
MetLife has taken a global view in
addressing the ever-evolving privacy
protection issues relating to our
business. As mentioned in the article
above, Rafal Harla, chief information
officer for MetLife in Poland, recently
attended the European Privacy
Officers’ Network (EPON) meeting at
the request of Virginia Bartlett. At the
meeting, privacy issues were discussed
with Poland’s newly appointed data
privacy commissioner.
To hear more about the meeting, as
well as Rafal’s personal views on why
privacy and data protection are so
important to MetLife, go to
Momentum online for a transcript of
Rafal’s entire interview. To access the
interview, visit the my.metlife.com
home page and click on the
“Momentum” link (directly beneath
MetLife NewsDaily). A link to the
interview can be found below the
Momentum story listings.
Read the complete interview with Rafal Harla online
Every day, new technologies emerge, enabling more ways to
share data. As a company focused on offering a financial
“safety net” to its customers, MetLife has a deep-seated
commitment to privacy. Protecting personal information is a core
responsibility that touches every aspect of our business throughout
the world.
Making sure MetLife upholds those standards as it does
business globally is the job of Virginia Bartlett, MetLife’s
newly appointed chief privacy officer and head of the MetLife
Privacy Office (MPO). As part of Ethics & Compliance, the MPO
ensures customer and associate information is appropriately
collected, safeguarded and used by the MetLife enterprise.
It is also responsible for establishing a global enterprise
privacy strategy.
“When I look ahead in 2009, I see a changing internal and
external world,” says Virginia. “There’s a borderless mindset to
the way we work and play today — and it’s a call to action.
Have you ever wondered in what country a Web site is located
when you place an order online? Have you ever wondered
where your information is stored if you use an ATM while
traveling overseas? As privacy officer, I think about this all the
time: where is the data?”
Setting standards internationally
In the fall, Virginia participated in the 30th
International Conference of Data Protection
and Privacy Commissioners in Strasbourg,
France. The conference, held annually, brings
together 78 data protection authorities and
privacy commissioners from every continent.
Privacy or other data regulators from nearly
all of the countries where MetLife does
business were represented at the event. At
the meeting, a resolution was passed for
setting international standards on privacy
and personal data protection.
With that in mind, one of Virginia’s most important
initiatives for 2009 is to encourage MetLife to think globally
about information flows. “The privacy impact of being a
global company is significant,” says Virginia. “The meaning of
privacy is different everywhere you go and MetLife has offices,
associates, customers and data centers around the world. For
example, our Global Operations Support Center in India
supports many U.S. line-of-business processes, and we have
claims service providers that operate offshore. We also offer
benefits to Institutional clients with global offices. So
understanding how other cultures and people think about
privacy is important.”
To address this, the MPO recently launched an internal MetLife
awareness campaign called “Privacy Is Everyone’s Business” —
and that message is going out globally. The office will also
introduce a new training program to help associates think
globally, as well as to demonstrate how regulators outside the
U.S. think about privacy.
Privacy champions: aligning standards across
the enterprise
To help achieve these objectives, the MPO has also established
global partnerships with privacy champions throughout
MetLife’s international locations. In each country, a privacy
champion is in place to coordinate privacy risk management,
policies and standards. Essentially, the privacy champions are
thought leaders who represent their country’s leadership
teams as MetLife’s International Business establishes and
maintains a consistent approach to data protection.
Partnering with Legal, Compliance, IT Security and Policy
Administration, the privacy champions help MetLife in its
efforts to achieve global consistency through an integrated
approach to protecting personal data across the enterprise. In
addition, the champions serve on the International Privacy
Steering Committee, which was established to oversee the
development of privacy principles and standards for our
International Business.
Often, privacy champions are advocates for new standards,
helping to ensure country standards are consistent with
MetLife’s privacy principles. In Europe, India and Latin
America, privacy champions have been influential in raising
awareness both internally and externally on the importance of
MetLife’s global privacy and security framework. For example,
Rafal Harla, chief information officer of MetLife in Poland, has
been instrumental in raising privacy issues and concerns to the
newly appointed data privacy commissioner in Poland.
Momentum caught up with Rafal on his recent participation
in the European Privacy Officers’ Network (EPON) meeting,
where privacy issues and concerns were discussed with
Poland’s data privacy commissioner. Rafal says, “EPON is a
group of specialists that enables multinational companies
to have a dialogue with national privacy regulators and to
manage data protection law compliance programs more
effectively. The meeting was held at the law offices of CMS
Cameron McKenna in Warsaw in November of 2008. The
briefing was focused on personal data protection laws and
practices in Poland, Russia and Romania.”
When asked what aspect of data protection is most
important, Rafal replied, “Certainly, the most important
aspect for me is technology and the use of technology to
protect data misuse, tamper-proof logging of access to
data, encryption and other security measures for data
processed in IT systems. However, technology is only a small
part of data protection and privacy. The most important
part is to implement and maintain a data protection culture.
All associates need to understand that privacy is a part of
daily corporate life.” �
F e b r u a r y / M a r c h 2 0 0 9
8
Protecting Privacy ina Borderless World
A look at the mission of the
MetLife Privacy Office
“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
The MetLife Privacy Office team:Virginia Bartlett, chief privacy officer,and Harry Valetk, privacy director-U.S.Not pictured: Janice Rehman, senior
compliance analyst
Did you know Snoopy® could skate?
To cap off MetLife’s 140th
anniversary celebrations, approximately
300 New York City school children were
invited to see for themselves and skate
with Snoopy on The Pond at Bryant
Park in front of MetLife’s new
Manhattan office location at 1095
Avenue of the Americas. The event,
which took place during the winter
holiday break, provided an opportunity
for children enrolled in New York City’s
Department of Youth and Community
Development after-school program to
skate with Snoopy and have their
pictures taken with members of the
PEANUTS® gang.
Following “Skate with Snoopy,” there
was an additional event held at Bryant
Park during which members of the
public were invited to have their
pictures taken with PEANUTS characters
under the Holiday Tree. Consumers
were provided with a MetLife
mousepad directing them to retrieve
their photos at metlife.com, thereby
driving traffic to our site. The rink and
surrounding areas were decorated with
MetLife logos and artwork for the day,
providing great visibility for the
MetLife brand and serving as a festive
announcement of MetLife’s arrival in
the neighborhood with the recent
opening of the adjacent office building.
In recognition of the day’s activities,
Jeanne Mulgrav, commissioner of the
Department of Youth and Community
Development, presented Beth
Hirschhorn, senior vice president,
Global Brand and Marketing Services,
with a Proclamation from New York
City Mayor Michael Bloomberg as a
“thank-you” to MetLife for sponsoring
the event. Said Debbie Krautheim,
vice president, Creative Services and
Conference Planning, who spearheaded
many of the year’s 140th anniversary
events, “Especially during the holiday
season, this was a great way to give
back to the community and give these
children a unique opportunity they will
long remember.” �
Skating with SnoopyCaps MetLife’s 140thAnniversary Year
momentum
9
Are Retirees Steeringthe Right Course inTerms of Liquidity?
New MetLife study shows
retirees paying for a benefit
they may not be using
At a time when retiree income is being squeezed from
all sides, many are paying a price for a benefit —
liquidity — they may not be using. This is one of the key
findings of a study led by MetLife’s Public Relations and
Retirement and Wealth Management groups. More than
1,000 retired respondents participated in the research,
conducted by Harris Interactive.
The goal of the survey was to get more people to
contemplate the possibility of increasing their returns by
considering guaranteed income products like annuities. A
good number of retirees — 37 percent, the study found —
are holding the majority of their assets in “liquid” accounts.
These include CDs, savings accounts and money market
funds, which offer ready access to assets. But retirees may
not intend to tap these assets any time soon.
While some retirees have benefited from liquidity in light
of the current financial and economic environment, going
forward, retirees may be disadvantaged by keeping so much
of their money on the sidelines, especially if they have no
present intention of withdrawing their assets. Because of
the now historically low yields of liquid instruments,
retirees may be passing up potentially higher guaranteed
returns elsewhere.
“The findings point to a disconnect between the perceived
need for liquidity and the actual uses of those funds among
retirees,” notes Julia Lennox, vice president, the Retirement
and Wealth Management group. “If they stay in these liquid
assets, over time, many retirees might unnecessarily miss out
on the possibility of higher returns for a ‘liquidity benefit’
that they may never use. While it’s important that every
individual have some portion of their assets in liquid
accounts, many are putting the lion’s share of their
investable funds in such holdings and, in the process, passing
up potentially higher returns for access they may not need.”
The poll also highlights a resistance to taking action in the
wake of major market declines. A majority of current retirees
(59 percent) have seen retirement assets shrink as a result of
the current economic environment, and many (44 percent)
don’t expect that the return on their retirement funds will
keep pace with inflation on the essentials. But only 42
percent are considering reallocating their assets to products
that may provide a higher rate of return.
Perhaps leading to this indecision, many American retirees
who have interest-rate-sensitive accounts demonstrate a lack
of knowledge and understanding about the products they
currently own. One-fifth don’t know the interest rates
for any of their interest-rate-sensitive accounts, and an
additional 29 percent only know the interest rates for some
of these products — this despite the fact that 47 percent
put their money in these products specifically because of the
interest rates they yield. Among those who do know the
interest rate, 63 percent say those assets are generating less
than four percent per year.
“The goal for retirees right now is to achieve an optimal mix
of investments, liquidity and protection products. For many
retirees, this means giving up some — but not all — of that
liquidity in favor of products such as income annuities that
may provide more income with guarantees,” adds Julia.
The MetLife survey, yet another extension of our thought
leadership, has been getting good coverage in benefits,
human resources and investments trade publications such
as Pensions & Investments, Human Resource Executive,
Workforce Management, National Underwriter,
Retirement Income Reporter, Plan Advisor and Retirement
Weekly. It has also been picked up in major news outlets
like Marketwatch. �
Kids hit the ice with the PEANUTSgang. (Far right) Jeanne Mulgrav,Debbie Krautheim, Beth Hirshhornand Itai Shoffman of The Pond atBryant Park
“The findings point to a
disconnect between the
perceived need for liquidity
and the actual uses of those
funds among retirees.”
– Julia Lennox
When turbulence struck the
financial markets last year, the
e-Relationship e-mail marketing system
helped MetLife and New England
Financial reps reach out quickly at a
time when jittery clients most needed
to hear from a financial professional.
Individual
Distribution (ID)
developed
e-Relationship to
help producers
maintain strong
client relationships
in a fast-paced
world. It provides
a way to send
personalized and
professional-looking materials to a
broad list of clients and prospects at one
time, giving reps a quick, simple and
efficient way to stay in touch.
Using e-Relationship, reps could offer
reassuring messages as market events
unfolded last fall, including such items as
national ads attesting to MetLife’s
strength and stability, which went to
more than 100,000 people; and a
“storyboard” presentation featuring
quotes from Warren Buffett, which
prompted more than 5,000 people to
request further contact from their agent.
Mike Vietri, CLU, executive vice
president of Individual Distribution,
urges all reps to take advantage of
e-Relationship. “e-Relationship helps
keep lines of communication open
with clients,” says Mike, “and right
now, that’s absolutely critical. It’s a
powerful tool.”
Growing popularity
More and more reps are putting
e-Relationship to work. In 2008,
approximately 1,200 reps sent more
than 4.5 million messages to almost
500,000 clients and prospects. New
materials are being added to
e-Relationship all the time so reps can
provide fresh perspectives.
“Clients have told us that the more
they hear from their rep, the more
satisfied they are and, as a result, they
would refer more and they would
buy more,” said Joseph W. Jordan,
senior vice president of National Sales.
“e-Relationship allows the rep to keep
connected in an efficient, effective
manner. We encourage every rep to
take advantage of this. It’s an
investment that can pay tenfold.”
Efficient, economical and ‘green’
Three years ago, MetLife started
working with a new vendor, Identity
Branding, to make e-Relationship
available to the field, and it’s been
expanding its reach ever since. Firm
managers, for example, can now use it
to keep in touch with potential recruits.
In 2008, the platform was expanded to
allow reps to reach potential customers
in addition to current clients.
Reps can reach up to 3,500 e-mail
addresses as often as they want with
e-Relationship for one monthly fee. And
by using e-mail, reps save paper and
help fulfill the company’s mission to be
environmentally friendly.
Financial services representative Barbara
Henry, LUTCF, of New England Financial
in Orlando, FL, swears by e-Relationship.
In the fall, she sent market-related
pieces to clients and prospects and got
a terrific response, including dozens of
“thank you’s,” 13 appointments and
at least one sale.
“We’re always reminded to work
smarter,” Barbara said. “With
e-Relationship, I can hit so many clients
with the click of a button, it’s amazing.
Staying in touch this way gives me
credibility that other advisers out there
don’t have. It also saves me time and
saves me money on postage. I can’t
imagine not having it!” �
F e b r u a r y / M a r c h 2 0 0 9
e-Relationship:A Better Way to
Connect with Clients
Rallying the Troops
MetLife Auto & Home’s
2008 National Sales Meeting
attendees give recuperating
veterans a comforting surprise
Freedom is not free, and nowhere is that more evident than at
a veteran’s hospital. This year, during its National Sales Meeting
held in Dallas, Texas just after Veterans Day, MetLife Auto &
Home® decided to give back to those who served
our country.
With satisfying memories of the teambuilding event held
during its 2007 meeting in New Orleans (refurbishing an
elementary school ravaged by Hurricane Katrina), the 2008
National Sales Meeting planning team decided to once again
promote teamwork and reap the priceless byproduct of giving
back to the community. Don Cunningham and Wayne Hudson,
both regional sales directors, teambuilding activity leaders and
veterans of the armed forces, proposed a “rally for the troops”
who served in the military.
In preparation, Don and Wayne utilized their activity budget
to purchase “comfort items” such as T-shirts, sweatshirts and
toiletries from the Army PX, which returns the profits to active
military families. Then, on-site at the Dallas VA Hospital, 20
teams of 10 gung-ho sales managers competed to assemble
600 “comfort bags” for patients in an hour. The fiercely
competitive group finished in less than half the allotted
time, resulting in more time to deliver the bags and visit
with patients.
That was when participants truly realized the value of their
teambuilding activity. Life stories were casually shared by
many of the veterans, providing glimpses into their
experiences. Some vets had their stories captured on video
by the Veterans Administration to share with their families.
All in all, it was hard to say who got more from those visits.
As an extra donation to the troops, the team had mounted a
“Cell Phones for Soldiers” drive prior to the meeting to collect
old cell phones for recycling. Every donated phone provides
an hour of calling card time for military personnel overseas,
helping them stay in touch with their loved ones. A total of
210 cell phones were brought to the meeting and presented
by Scott Kuczmarski, Agency Distribution vice president, to
Fred Maldonado, AT&T regional director and “Cell Phones for
Soldiers” representative. The phones will provide our forces
with almost nine days of talk time from Afghanistan and Iraq.
Noticing the flock of MetLife volunteers at the VA hospital,
one wheelchair-bound veteran asked what was happening.
When offered a visit, he replied, “Oh, I’m not a patient. I’m
a volunteer. It does me good to help people who are less
fortunate than I am.” That’s the spirit — one that the MetLife
Auto & Home’s sales management team strives to keep alive. �
10
An example of the eRelationship“storyboards” sent to clients, featuring
quotes from renowned investorWarren Buffett
“Clients have told us that
the more they hear from
their rep, the more satisfied
they are. ”
— Joseph Jordan
(Left to right) Associates assemble“comfort bags”; Scott Kuczmarski (right)
presents “Cell Phones for Soldiers”;a comfort bag delivery; Snoopy greets
a veteran
Diversity at MetLife
momentum
11
Former SurgeonGeneral “WritesPrescription” forAlpharettaAssociates
Recently, MetLife’s Local Inclusion Action Team (LIAT) in
Alpharetta, GA hosted its second annual LIAT Day with
Dr. David Satcher, M.D., Ph.D. as the keynote speaker.
Dr. Satcher spoke to the meeting’s theme of “Diversity Works
at MetLife” from the perspective of his particularly distinctive
background. He is a former Surgeon General of the United
States and, currently, a member of MetLife’s Board of
Directors. Dr. Satcher also established The Satcher Health
Leadership Institute (SHLI), is director of the Center of
Excellence on Health Disparities at the Morehouse School
of Medicine (MSM) and occupies the Poussaint-Satcher-
Cosby 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
CDC and Surgeon General of the United States. Rudy Loney,
vice president, Agency Distribution Financial Services,
MetLife Auto & Home®, introduced Dr. Satcher to a LIAT
Day audience of approximately 120 MetLife associates and
business leaders.
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
workplace. He stressed that in order to enjoy their
retirement years, individuals need to prepare not only
financially, but also health-wise.
He also described some of the many challenges to creating a
healthy workplace, including injury, communicable diseases
such as the flu, obesity and availability of health insurance.
Dr. Satcher also emphasized that companies need to create
an environment where people feel comfortable asking for
help without the fear of stigma or reprisals. He added that
fostering a healthy workplace benefits companies by
reducing absenteeism, reducing health care costs and
improving employee morale.
Concluding his remarks, Dr. Satcher presented all the
participants with a signed “prescription” for good health:
> Moderate physical activity, at least five days a week,
30 minutes per day
> Eat at least five servings of fruits and vegetables a day
> Avoid toxins — tobacco, illicit drugs, and abuse of alcohol
> Responsible sexual behavior: abstinence plus optimal
protection when sexually active
> Daily participation in relaxing and stress-reducing activities
The Alpharetta LIAT was honored to host such a special guest
for its LIAT Day! �
(Left) The Alpharetta LIAT with RudyLoney (in business suit, left) and Dr.David Satcher (in business suit, right)
(Right) Dr. Satcher presents hisprescription for health
Five 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.
“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 [email protected]. �
5,000 AssociatesTake the Challenge!
Latest Chairman’s Challenge
deepens associates’ understanding
of our medical plan options
The Global Operations Support
Center (GOSC) is commemorating
an important milestone in its
development — and in the next
Momentum, we’ll take you there. In
late February, the ribbon was cut on
the new captive center, which will be
managed and operated exclusively by
MetLife leaders and associates. This
ribbon-cutting celebrates more than a
brick-and-mortar facility; it symbolizes
MetLife’s achievement of end-to-end
oversight of GOSC operations and
process migrations without any
dependence on a third-party provider.
In this new site, the GOSC will continue
to drive quality improvements and
processing efficiencies, which are both
important to fueling revenue and
earnings growth at MetLife. Stay tuned
for a full update next month. �
Next Month:A Glimpse into theGOSC Ribbon-CuttingCeremony in India
12
F e b r u a r y / M a r c h 2 0 0 9
Get healthier in 2009 and earn $100 or up to $300 per
family! By completing the Working On Wellness
(WOW) Dividend Program, you and your family can do
both. The program, offered by Wellness & Fitness Services,
rewards associates and their families for practicing good
health habits.
This year, all adult participants must accumulate 100 Dividend
Points on the WebMD Web site by August 31, 2009 to be
eligible to receive the $100 WOW Dividend. This dividend is
applied to medical, dental or long-term disability benefits
costs in 2010. Adults earn 100 Points by completing the
required Health Quotient (HQ) for 30 points and by
completing other qualifying actions for the remaining
70 Points.
Remember: parents can also earn the $100 Dividend for
eligible children! Visit WebMD for complete program details.
Highlights of WOW Dividend Program changes for 2009:
> “$100 WOW Dividend Thursdays” — Most program
communications will be posted Thursdays in MetLife
NewsDaily on my.metlife.com. Participants may also visit
the WebMD site now for complete program details.
> WebMD’s Improvement Programs — Participants can
earn five points per week for a minimum of 10 weeks
for completing a program phase. Each program includes
10 program phases, so participants can earn a total of 50
Dividend Points for completing an improvement program.
> Exercise Tracker and/or Walking Planner — Regular
exercisers can enter workout sessions into the Exercise
Tracker and/or the Walking Planner and earn two points
for each data entry (maximum of 50 points can be earned).
> WOW Dividend Confirmation Tracking Number —
After completing all program requirements, a Dividend
confirmation tracking number will post to your
Redemption History section on the WOW Dividend
Program page on WebMD. Participants are responsible
for knowing their confirmation tracking number as
proof of completion of the WOW Dividend Program.
Without a tracking number, no dividend will ne awarded;
no exceptions will be made.
Visit WebMD today for complete program details. Associates
can log in to the Associate Information Center (AIC) and go
to Benefits >> Wellness >> Working On Wellness Dividend
Program. Or, click “WebMD website” under “Quicklinks”
on the AIC home page.
Questions about the 2009 WOW Dividend Program? Click on
the “Questions” link at the top of your WebMD home page
or send your question to Wellness & Fitness Services at
Everyone CouldBenefit from $100
The WOW Dividend Program
offers you $100 toward medical,
dental or LTD benefits costs
MetLife associates: we heard you!
In our recent Momentum survey
(see details in the January Momentum),
several respondents asked to see a
better way to access Momentum stories
online. So, starting next month, we’re
enhancing the online version of
Momentum to offer you an easier-to-
read, more robust online experience.
The new Momentum Online will
feature text versions of all the stories
you see in the printed Momentum.
Momentum Online will also feature
“bonus stories” you won’t see in the
print edition. Plus, our online stories
will periodically include interactive,
audio and video components.
Next month, be sure to check out the
new Momentum Online, which will be
available from a special link on the
my.metlife.com home page. And let
us know how you like our enhanced
online publication by sending us a
Lotus Notes email. (To send us an email,
simply type “Momentum” in the “To”
field of a Lotus Notes message.) �
Coming in April:The New
Momentum Online
Like a good road map, MetLife’s
Employee Code of Business Conduct
and Ethics can help you get your
bearings in a tough situation. It outlines
our company’s expectations and the
responsibilities we each bear. The Code
provides guiding principles and suggests
ways to apply these principles. It also
summarizes our policies and procedures
about important topics such as
conflicts of interest, diversity and
equal opportunity.
Though our Code is a navigation tool
specifically designed to guide your daily
decisions, you have to understand its
contents and access it when needed in
order to reap its benefits. So review the
Code on my.metlife.com >> Our
Company >> Policies and decide where
you should turn if you have a concern.
If you are a supervisor or manager,
introduce the Code to your team as a
resource. Consider ways to help your
direct reports understand the topics in
the Code. Practice ethical decision
making by including consideration of
ethics, our guiding principles, policies
and laws in every decision you make.
Finally, be a model of ethical action by
ensuring associates know that you
always include ethical considerations in
your decisions.
MetLife’s Code of Conduct sends a clear
message about where our company is
today and what our emphasis is as we
move forward. When you read,
understand and utilize the Code in
your daily business decisions, you are
protecting our company’s good
reputation and demonstrating our
company values. �
Momentum is published by MetLife Internal Communications for associates enterprise-wide.
Send questions, comments or ideas for stories to [email protected].
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 forits 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.
March is EthicsAwareness Month:Live by the Code!
A reminder to live by the code:A poster from MetLife aboutour Employee Code of BusinessConduct and Ethics.