Met Life Captive

[Roenick27]

Does anyone know what they are doing? I don’t know enough about the opportunity (I don’t very much at all yet) but it seems to be a w-2 opportunity with you having your own office that they subsidize etc.

After years of not seeing them advertise much etc and o viously they’re in the Indy channel, this seems to be a push back into p and c.

Does anyone have any insight?

 

[DHK]

I think we'll need more information about what you're learning about.

Metlife was designated as SIFI - "too big to fail" government designation... so Metlife began to make itself smaller.

They sold their captive career agency force (life, annuities, and securities) and they merged with MassMutual.
MassMutual to Acquire Metlife’s Retail Advisor Force - MassMutual

They spun off their life and annuity products to Brighthouse Financial.
Important Information About MetLife's U.S. Retail Business Separation

I know Metlife had a lending bank that did reverse mortgages, but I don't know if they're still doing that. I know Metlife has/does group benefits and may still be in the P&C game... but I don't know.

 

[Roenick27]

This seems to be brand New. That’s why I asked. I knew about them selling off to mass mutual. It just seems that they now want to be the local p and c place (almost how a sf used to be prior to 2004).

 

[VolAgent]

MetLife seems to run hot and cold on P&C. There was someone from Oklahoma that use to be active on the forum. I believe she was a captive MetLife agent, sadly I can't recall her handle on here.

As an independent, I can't recall ever seeing them be competitive. In some states that allow it they do affinity discounts with employers and that can help.

 

[Roenick27]

Yeah it’s weird. I very rarely see them on PIR’s but then again I can’t remember the last advertisement for them I’ve seen and have never seen a met life agents Office before. So maybe they’re trying to get into the local agent fold? Idk.
Just kinda came out of left field..

 

[indienoise]

They are a strange creature in the p&c world. Not often competitive except in certain zip codes. Supposed to be an ultra preferred product, but in my area see them on a lot of borderline non-standard business by way of affinity programs with employers that don't make much sense in terms of their alleged target market.
Not surprising to hear they would open captive shops. They sell direct much of the time.

 

[Roenick27]

They are a strange creature in the p&c world. Not often competitive except in certain zip codes. Supposed to be an ultra preferred product, but in my area see them on a lot of borderline non-standard business by way of affinity programs with employers that don't make much sense in terms of their alleged target market.
Not surprising to hear they would open captive shops. They sell direct much of the time.

Yeah I agree they’re weird. I just don’t see them on any pirs. But. I’ve heard they also have an attached GA/brokerage etc so it makes some sense. They get a cut if the stuff they don’t want without the risk/claims and skim what they would want.

 

[mplsmm]

I don't think I am weird....lol. I think there is a renewed focus on P&C and I like it. A lot of stuff has happened and a lot more is happening. I feel pretty competitive and if we aren't I am appointed with a bunch of other carriers for life and P&C so I have options. What is your specific question? Yes I am a w-2, I have a pension and benefits. I get subsidized and although Indy guys pitch me all the time, I can't see that they make much more.

 

[Roenick27]

I don't think I am weird....lol. I think there is a renewed focus on P&C and I like it. A lot of stuff has happened and a lot more is happening. I feel pretty competitive and if we aren't I am appointed with a bunch of other carriers for life and P&C so I have options. What is your specific question? Yes I am a w-2, I have a pension and benefits. I get subsidized and although Indy guys pitch me all the time, I can't see that they make much more.

Weird was a bad choice of words lol. I actually
Like met and I like the renewed focus on p and c. I agree with your points about the subsidy / less risk etc, especially in a “captive” format.
I appreciate the chiming in though. It makes me feel more confident in a potential opportunity with them.

 

[mplsmm]

You can PM me too. It's been a long time since I did the validation process but I will answer anything I can. It's tough at first, there is a lot to learn and then hitting your initial goal is hard but once you get past that it gets better. But I do feel like they are actively seeking out new carriers for us to offer. I have 12 between my appointments and the rater and they have another 20 or so at the GA so it's easy to be competitive. After the Brighthouse split we had a short time where we were short on life offerings but that turned around, I have at least 6 of the big names to offer. What state are you in?