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Axis Capital, AllDigital Partner for New Insurance Platform
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AXIS Capital Holdings Limited’s (AXS - Free Report) specialty insurance business segment, AXIS Insurance has joined forces with MGA AllDigital Specialty in a bid to introduce an insurance platform to address the needs of the U.S. small private company management liability market.
AllDigital Specialty is a startup Insurtech company that allows brokers, insurance companies, and claims administrators to uniformly transact small commercial insurance underwriting and claims handling. It provides both Managing General Agent (MGA) and technology as a service solution for their clients.
In the United States, there are 5.8 million small companies with less than 100 employees and only 30% of these businesses have taken the steps to acquire management liability insurance. The current insurance buying process for these companies is burdensome and poorly serviced.
AllDigital Specialty recognizes this market opportunity and inefficient procurement process. It caters to brokers and insurance clients with a low-touch solution to acquire this important insurance for small businesses, providing a bindable quote in a short time. The AllDigital ecosystem has been designed in way that it can be expanded to other products in the management liability market.
Management liability insurance covers exposures faced by directors, officers, managers, and business entities that arise from governance, finance, benefits, and management activities. It is a combination of coverages that protects them against legal liabilities and statutory obligations.
With this new collaboration with AllDigital, AXIS Insurance will provide insurance protection to many small businesses that need it to operate in the current growing complex business environment.
The specialty commercial insurance business of AllDigital will provide AXIS Insurance more opportunities. The no-touch solution for wholesaler brokers will enable AXIS Insurance to expand productive distribution partnerships, while focusing on current complex risks business.
Shares of this Zacks Rank #4 (Sell) company have lost 23.5% year to date, compared with the industry’s decline of 8.5%.
Stocks to Consider
Investors interested in property and casualty industry may look at Donegal Group Incorporation (DGICA - Free Report) , Fidelity National Financial Inc., (FNF - Free Report) and The Allstate Corporation (ALL - Free Report) . While Donegal Group and Fidelity National carry a Zacks Rank #1 (Strong Buy), Allstate carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Donegal provides personal and commercial lines of property and casualty insurance to businesses and individuals. The company beat estimates in each of the last four quarters, with the average surprise being 86.44%.
Fidelity National provides various insurance products in the United States and offers title insurance, escrow, other title related services and home warranty insurance. It surpassed estimates in each of the last four quarters, with the average surprise being 32.13%.
Allstate provides property and casualty, and other insurance products in the United States and Canada. It surpassed estimates in each of the last four quarters, with the average surprise being 25.24%.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Image: Shutterstock
Axis Capital, AllDigital Partner for New Insurance Platform
AXIS Capital Holdings Limited’s (AXS - Free Report) specialty insurance business segment, AXIS Insurance has joined forces with MGA AllDigital Specialty in a bid to introduce an insurance platform to address the needs of the U.S. small private company management liability market.
AllDigital Specialty is a startup Insurtech company that allows brokers, insurance companies, and claims administrators to uniformly transact small commercial insurance underwriting and claims handling. It provides both Managing General Agent (MGA) and technology as a service solution for their clients.
In the United States, there are 5.8 million small companies with less than 100 employees and only 30% of these businesses have taken the steps to acquire management liability insurance. The current insurance buying process for these companies is burdensome and poorly serviced.
AllDigital Specialty recognizes this market opportunity and inefficient procurement process. It caters to brokers and insurance clients with a low-touch solution to acquire this important insurance for small businesses, providing a bindable quote in a short time. The AllDigital ecosystem has been designed in way that it can be expanded to other products in the management liability market.
Management liability insurance covers exposures faced by directors, officers, managers, and business entities that arise from governance, finance, benefits, and management activities. It is a combination of coverages that protects them against legal liabilities and statutory obligations.
With this new collaboration with AllDigital, AXIS Insurance will provide insurance protection to many small businesses that need it to operate in the current growing complex business environment.
The specialty commercial insurance business of AllDigital will provide AXIS Insurance more opportunities. The no-touch solution for wholesaler brokers will enable AXIS Insurance to expand productive distribution partnerships, while focusing on current complex risks business.
Shares of this Zacks Rank #4 (Sell) company have lost 23.5% year to date, compared with the industry’s decline of 8.5%.
Stocks to Consider
Investors interested in property and casualty industry may look at Donegal Group Incorporation (DGICA - Free Report) , Fidelity National Financial Inc., (FNF - Free Report) and The Allstate Corporation (ALL - Free Report) . While Donegal Group and Fidelity National carry a Zacks Rank #1 (Strong Buy), Allstate carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Donegal provides personal and commercial lines of property and casualty insurance to businesses and individuals. The company beat estimates in each of the last four quarters, with the average surprise being 86.44%.
Fidelity National provides various insurance products in the United States and offers title insurance, escrow, other title related services and home warranty insurance. It surpassed estimates in each of the last four quarters, with the average surprise being 32.13%.
Allstate provides property and casualty, and other insurance products in the United States and Canada. It surpassed estimates in each of the last four quarters, with the average surprise being 25.24%.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
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