RakBank, MetLife join hands for life insurance solutions for bank customers

BBN Report

DUBAI/December 14-2020: MetLife, one of the largest global providers of insurance, annuities, and employee benefit programs, has announced a 10-year strategic preferred partnership with The National Bank of Ras Al Khaimah (RAKBANK) to provide comprehensive life insurance solutions to the bank’s customers across the UAE.

The partnership offers a versatile and highly competitive life insurance solution for the bank’s customers with the highest non-medical underwriting limit of $1.25 million, exceptional maturity value, and an intuitive digital-first sales and service platform, Mpower.

Commenting on the partnership, Dimitris Mazarakis, General Manager – MetLife Gulf, said that through this partnership, the company will ensure that it offers products that deliver more features that reassure the policy holders that they’ll be covered, no matter what.

Frederic de Melker, Managing Director of Personal Banking at RAKBANK said that by signing this 10-year agreement, MetLife joins RAKBANK’s effort to build transparency and customer benefit into the market of life-bancassurance.

“The digital and price efficiencies that result from our partnership will integrally translate into customer value through efficient product propositions,” he said.

He further added that bancassurance is a key focus for RAKBANK and an important part of its overall customer value proposition.

“MetLife’s strong customer focus and deep commitment to the region are aligned with our own vision. We look forward to collaborating further with MetLife across our network in the UAE,” de Melker added.

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