Borrower insurance: METLIFE France announces unprecedented reduction in medical formalities

Unprecedented reductions in medical formalities

Thanks to the expertise of its teams and its know-how, acquired over more than 50 years in the individual insurance business, MetLife now offers unprecedented reductions in medical formalities, whether for its pension offer as on its borrower offer

It is now possible to subscribe with a simple health questionnaire:

• for those under 56 up to 1 million euros
• for 56-85 year olds up to €400k

Agnès Bruhat, Managing Director of MetLife France explains: « For many years, MetLife stands alongside its intermediaries and its policyholders, to offer relief from medical formalities, whether for its business and employee protection offer, or its borrower insurance solution. We have now decided to go further by offering the possibility of covering up to 1 million euros (for those under 56) using a simple health questionnaire. A major step forward, completed by the harmonization of our formality grids, which will allow us to best support our distribution partners ».

These reductions will thus make it possible to facilitate subscription, by requesting as few health examinations as possible from insured persons – An all the more crucial axis for MetLife who regularly ensures entrepreneurs with particularly busy schedulesand who can therefore only devote a little time to these examinations.

MetLife is particularly positioned on non-standard risks: high capital – seniors – aggravated health risks, etc.

The harmonization of formality grids will facilitate collaboration with distribution partners, working regularly with MetLife, such as brokers or wealth management advisors.

Simplify procedures for insured borrowers

In fact, MetLife has been working for a long time to simplify the subscription process, and in particular to reduce the medical and financial formalities.

In 2019 the company had already made significant progress with significant simplifications:

• A simple health questionnaire up to 1.25 million euros for those under 46
• No proof for moral and financial reports up to 2.5 million euros.

The teams of MetLife continuously improve subscription, and in particular the online acceptance process. Thanks to a very powerful data analysis tool, all the questions arising from the dynamic questionnaire are regularly reviewed, in order to facilitate their understanding. The customer experience is made easier, and it also helps avoid additional requests that could be sent if the responses were not appropriate, due to lack of good understanding. This process naturally makes it possible to optimize the subscriptions that can be accepted online.

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