Emirates NBD and MetLife form strategic partnership
Emirates NBD, a prominent banking group in the MENAT (Middle East, North Africa and Turkey) region, and MetLife, one of the world’s principal life insurance companies have announced a strategic partnership to provide insurance products and solutions to the bank's extensive wealth, retail and SME customer base across the United Arab Emirates.
The new long-term corporation will make available a comprehensive range of customizable protection and savings solutions for customers, covering life, accident and health insurance. Customers will be able to access a range of term plans that provide high protection covers along with options to insure against critical illness and disability. Customers can also purchase whole-of-life protection plans that permit plan contributions to be made for a limited number of years and provide lifelong coverage, as well as for savings solutions. Plans are available for SME customers as well to cover business related liabilities and to offer key person insurance coverage.
MetLife’s customer research shows that 60% of UAE residents are under-insured and have insufficient coverage against emergencies such as accidents and critical illnesses, and a growing number are looking to buy a new insurance plan in the nearby future.
The plans will offer customers with increased flexibility in payment options and coverage terms, transparent charging schedules as well as a 30-day free look period during which customers can return the plan with no commitments or charges. Emirates NBD customers can make a request to their Emirates NBD relationship manager, branch officer or through the bank’s website, based on which a MetLife insurance specialist will connect with the applicant to discuss requirements and advise suitable solutions.
Suvo Sarkar, Senior Executive Vice President and Head of Retail Banking and Wealth Management, Emirates NBD remarked, “As people become increasingly aware of the significance of financial preparedness, we are delighted to provide our customers, in collaboration with MetLife, easy access to best-in-class insurance products and solutions that are integral to their long term financial planning. Being a leading bank offering customer focused financial solutions, we remain dedicated to helping our customers meet their protection and savings needs in the best way.”
Commenting on the partnership, Dimitris Mazarakis, General Manager – MetLife Gulf, said, “These are demanding times for our customers as they confront unprecedented challenges brought by the current situation. We are honoured to partner with an organization that shares our vision, values, and priorities. Our shared obligation to putting the customer first through driving customer-centricity, innovation, and digital transformation is what sets us apart in the market.”