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Assurant (AIZ) Acquires Fixt, Boosts Mobile Repair Services
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Assurant, Inc. (AIZ - Free Report) has acquired vendor network management company, Fixt.
Founded in 2014, this Baltimore, MD-based startup, Fixt is a complete device support platform. It is a leading provider of on-demand mobile device support and repair. It provides service through a network of more than 1,500 repair technicians.
The buyout of Fixt will enable Assurant, a global provider of lifestyle and housing solutions, to reinforce its proprietary device lifecycle management platform, which will assist customers with expanded options to overcome problems with their mobile devices. Also, it will aid in the management of their service experience.
Customers will have more options while choosing the points of service with the addition of Fixt’s platform.
As far as Fixt is concerned, the deal will enable it to expand its mobile device protection and support services to customers on a global scale.
The combination of first on-demand technology repair platform of Fixt and end-to-end Dynamic Fulfilment platform of Assurant is aimed at upgrading the experience for mobile device owners.
Assurant partners with leading brands to develop innovative products and services and to deliver enhanced customer experience. Through its Global Lifestyle segment, it provides mobile device solutions and extended service products and related services to consumer electronics and appliances which is referred to as Connected Living.
In this segment, revenues from service contracts and sales of products are primarily from its Connected Living business. Through partnerships with mobile carriers, Assurant provides administrative services related to its mobile device protection products, including customer support and claims handling, service delivery, and repair and logistics among others. Global Lifestyle segment contributed 75.7% to the company’s top-line growth in the first half of 2020.
Shares of this Zacks Rank #2 (Buy) multi-line insurer have outperformed the industry in a year’s time. The stock has gained 0.6% against the industry’s decline of 15.5%. We expect higher revenues, strategic initiatives and a solid capital position to drive shares higher in the near term.
Other Stocks to Consider
Some other top-ranked stocks in the insurance industry include James River Group Holdings Ltd (JRVR - Free Report) , Old Republic International Corporation (ORI - Free Report) and Horace Mann Educators Corporation (HMN - Free Report) . While James River Group Holdings sports a Zacks Rank #1 (Strong Buy), Old Republic International and Horace Mann Educators carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
James River Group provides specialty insurance and reinsurance services in the United States. It surpassed estimates in three of the last four quarters, with the average beat being 14.86%.
Old Republic engages in the insurance underwriting and related services business primarily in the United States and Canada. It surpassed estimates in each of the last four quarters, with the average earnings surprise being 36.72%.
Horace Mann Educators operates as a multiline insurance company in the United States. It underwrites and markets personal lines of property and casualty insurance. It surpassed estimates in three of the last four quarters, with the average beat being 24.77%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Assurant (AIZ) Acquires Fixt, Boosts Mobile Repair Services
Assurant, Inc. (AIZ - Free Report) has acquired vendor network management company, Fixt.
Founded in 2014, this Baltimore, MD-based startup, Fixt is a complete device support platform. It is a leading provider of on-demand mobile device support and repair. It provides service through a network of more than 1,500 repair technicians.
The buyout of Fixt will enable Assurant, a global provider of lifestyle and housing solutions, to reinforce its proprietary device lifecycle management platform, which will assist customers with expanded options to overcome problems with their mobile devices. Also, it will aid in the management of their service experience.
Customers will have more options while choosing the points of service with the addition of Fixt’s platform.
As far as Fixt is concerned, the deal will enable it to expand its mobile device protection and support services to customers on a global scale.
The combination of first on-demand technology repair platform of Fixt and end-to-end Dynamic Fulfilment platform of Assurant is aimed at upgrading the experience for mobile device owners.
Assurant partners with leading brands to develop innovative products and services and to deliver enhanced customer experience. Through its Global Lifestyle segment, it provides mobile device solutions and extended service products and related services to consumer electronics and appliances which is referred to as Connected Living.
In this segment, revenues from service contracts and sales of products are primarily from its Connected Living business. Through partnerships with mobile carriers, Assurant provides administrative services related to its mobile device protection products, including customer support and claims handling, service delivery, and repair and logistics among others. Global Lifestyle segment contributed 75.7% to the company’s top-line growth in the first half of 2020.
Shares of this Zacks Rank #2 (Buy) multi-line insurer have outperformed the industry in a year’s time. The stock has gained 0.6% against the industry’s decline of 15.5%. We expect higher revenues, strategic initiatives and a solid capital position to drive shares higher in the near term.
Other Stocks to Consider
Some other top-ranked stocks in the insurance industry include James River Group Holdings Ltd (JRVR - Free Report) , Old Republic International Corporation (ORI - Free Report) and Horace Mann Educators Corporation (HMN - Free Report) . While James River Group Holdings sports a Zacks Rank #1 (Strong Buy), Old Republic International and Horace Mann Educators carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
James River Group provides specialty insurance and reinsurance services in the United States. It surpassed estimates in three of the last four quarters, with the average beat being 14.86%.
Old Republic engages in the insurance underwriting and related services business primarily in the United States and Canada. It surpassed estimates in each of the last four quarters, with the average earnings surprise being 36.72%.
Horace Mann Educators operates as a multiline insurance company in the United States. It underwrites and markets personal lines of property and casualty insurance. It surpassed estimates in three of the last four quarters, with the average beat being 24.77%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>