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MetLife's Aggressive Distribution Strategy Reaches Business Market

Following the company's pilot of individual life insurance "in a box" at Walmarts, the company has released a new selling system aimed at helping agents and brokers more easily identify potential solutions for the business market.

MetLife recently has made aggressive moves to shore up its distribution strategy and reach more of the undersold life insurance market. Earlier this year, the company piloted "insurance in a box" at some Georgia Walmarts. But the pursuit of untapped business doesn't end with the individual life market. It launched today a new selling system for its producers who are marketing to the business owner community.

BOSS -- an acronym for Business Owner Strategic Solutions -- provides access to a database that allows producers to search for an appropriate strategy tailored to important consumer needs in the business planning market, including such areas as retirement income, estate planning, business succession planning, key employee information, disability protection, and executive benefits. Because business owners typically have more complex needs than the average client, the system is designed to help producers better identify business owners' most important financial needs and recommend solutions.

"We believe BOSS provides producers with the ability to demystify how to provide financial solutions to business owners," said Paul Lapiana, senior vice president of Individual Distribution, MetLife, in a statement. "We understand that the business market is a complex one, and as a result, it can often be difficult for producers to easily identify the opportunities that exist. ... By identifying the business owner's number one objective and offering a targeted solution, it's our belief that producers are better able to serve a client, close more sales, and as a result, gain more referrals in their market."

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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