The amount we charge our customers for our products.
What is premium?
100
The financial lever that is most directly within our control.
What are expenses?
100
Interest earned by investing premiums and other assets minus how much in benefits we actually wound up providing.
What is the interest margin?
100
A person who determines premiums, dividends, risks etc., according to probabilities based on statistical records and future expectations.
What is an actuary?
100
- $56 Million
What was Auto & Home's operating earnings loss in 2Q 2011?
200
The amount we charge our customers in premium for promised benefits, minus how much we actually end up paying in benefits.
What is underwriting margin?
200
The amount of money we charge our customers in premium to cover expenses, minus how much we actually end up paying in expenses (to cover what it costs us to provide services and to cover other costs of doing business).
What is the expense margin?
200
The MetLife department with primary responsibility for managing the company's interest margin.
What is the Investments Department.
200
A long-term contract between a customer and Metlife that is designed to help customers build and protect their retirement assets, as well as enable a stream of steady income payments that will last as long as they live after retirement.
What is an annuity?
200
$908 Million
What was U.S. Business's operating earnings in 2Q 2011?
300
The process of examining, accepting, or rejecting insurance risks, and classifying those selected, in order to charge the proper premium for each.
What is the underwriting process?
300
Another term for a negative expense margin.
What is the expense gap?
300
Gains in the interest margin sometimes offset losses within these other margins.
What are the underwriting and expense margins?
300
A contract in which we charge a client only for the services we provide and the customer assumes or maintains the insurance risk.
What is an Adminstrative Services Only (ASO) contract?
300
$1.3 Billion
What was MetLife's operating earnings in 2Q 2011?
400
Making sure customer underwriting and claims data is accurate; Reporting suspected claims and underwriting fraud; and Reviewing claims settlement policies and practices.
What are ways associates can help improve our underwriting margin?
400
Focusing on efficiency; avoiding duplication and redundancy; Providing "once & done" service; and Looking for innovative ways to save time, reduce costs, and serve our customers.
What are ways associates can help improve our expense margin?
400
Ensuring effective asset management and making sound investment decisions.
What are ways associates can help improve the investment margin?
400
An annuity product that enables employers to close out their own defined benefit plans, or mitigate their pension plan risks, by transferring their pension liability to MetLife for an agreed sum.
What is a pension closeout?
400
$174 Million
What was the amount of catastrophe losses that Auto & Home paid out in 2Q 2011?
500
The product shown in the video that derives most of its earnings from underwriting margin.
What is Homeowners Insurance?
500
The product shown in the video that bases its earnings primarily on expense margin.
What are Administrative Services Only (ASO) contracts.
500
The product in the video that derives most of its earnings from interest margin.
What is Fixed Deferred Annuity?
500
The business report that shows "how much" money we made each quarter.
What is the income statement?
500
This part of the company's financial statement shows "how" the company made it's money.