MetLife Inc MET launched an enhanced version of the pet mobile app. This move comes in a bid to assist pet parents in managing their furry family member’s health in a hassle-free way. This app will help pet parents make confident decisions, assist in lifelong pet health and provide valuable content to policyholders or pet parents.
This move will solidify MetLife’s position as a market leader in U.S. group benefits by enabling the company to offer pet insurance to potential customers. The pet health app should act as a key differentiator and help retain pet insurance customers.
The enhanced version of the pet health application is built on Microsoft Corporation’s MSFT Azure, with a plethora of new features. This application will help pet parents manage pet insurance and health records, access live vet chat and relevant articles, find pet services and access valuable rewards.
Per MetLife’s 21st annual U.S. Employee Benefit Trends Study, 63% of millennials and 59% of Gen Z are anxious about pet healthcare expenses. MetLife’s pet insurance is a relief for pet parents in this regard. MET offers family plans for pets and is very flexible in terms of coverage, previous records requirements etc. MET is exceptional due to these features and competitive rates.
MET’s pet insurance app was launched with the help of Microsoft. MSFT’s design and engineering abilities were well leveraged by MET to create an app providing a seamless and hassle-free experience for pet parents. This app will provide comprehensive solutions, making navigating problems easier.
Shares of MetLife have lost 0.5% in the past month compared with the industry’s decline of 0.9%.
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Zacks Rank & Key Picks
MetLife currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Multi-line Insurance space are Assurant, Inc. AIZ and Enact Holdings, Inc. ACT. Each of these companies currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Assurant’s bottom line outpaced estimates in three of the trailing four quarters and missed once. The average earnings surprise is 18.2%.
The Zacks Consensus Estimate for AIZ’s 2023 earnings indicates a 25% rise, while the same for revenues suggests 2.7% growth from the prior-year reported figures.
The bottom line of Enact Holdings outpaced the Zacks Consensus Estimate in three of the last four quarters and missed on the other occasion, the average surprise being 28.6%.
The consensus mark for ACT’s 2023 earnings has moved 5% north in the past 30 days.
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