Reinsurance Group of America (RGA - Free Report) has announced that its affiliate RGAx has entered into a partnership with Everplans in its efforts to expand the distribution of the latter’s life and legacy planning platform. As a result of this partnership, RGAx will become the chief distributor of the Everplans platform to all life insurance companies in the United States.
Everplans is a digital repository that enables people to organize, store and securely share their families’ most important details and information.
RGAx, a wholly owned subsidiary of Reinsurance Group, is a leader in the global life reinsurance industry. This partnership will help in reposing its clients’ financial and emotional stress during their most difficult time.
Based on a unique combination of platform maturity, customer experience, guided content and the incredible passion of the founders, Everplans seems to be the perfect partner of RGAx in its comprehensive life and legacy planning. Per the agreement, RGAx will employ a team of experienced professionals to initiate commercial partnerships in the insurance industry.
In fact, Kansas City Life Insurance Company and Western & Southern Financial Group, Inc. of Cincinnati, OH, have become the first insurance companies to offer Everplans as a complementary service to their consumers. Since Sep 1, 2017, Kansas City Life Group Benefits has started offering Everplans as part of its group insurance product portfolio, thereby, enabling employers to add a one-of-a-kind service into their employees’ packages. Western & Southern has also kicked off a mass media and employee campaign including the Everplans’ platform.
The life insurer is likely to keep benefiting from a mix of organic and transactional opportunities to boost its overall results and accelerate growth. This initiative by Reinsurance Group of America, to offer Everplans as a complementary service to its consumers, will not only create brand awareness but will also lead to better customer involvement thus, boosting its business in the long run.
Zacks Rank and Share Price Movement
Reinsurance Group of America carries a Zacks Rank #2 (Buy).
Shares of the company have outperformed the industry in a year’s time. While the stock has surged 31.2%, the industry has gained 24.3%. We expect strong product portfolio and sustained operational performance to drive the stock higher in the future.
Stocks to Consider
Some better-ranked stocks from the insurance industry are Health Insurance Innovations, Inc (HIIQ - Free Report) and Lincoln National Corporation (LNC - Free Report) .
Health Insurance Innovations operates as a developer, distributor, and administrator of cloud-based individual health and family insurance plans in the United States. It beat estimates in the trailing four quarters, with an average positive earnings surprise of 87.49%. Currently, Health Insurance Innovations carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lincoln National Corporation, which carries a Zacks Rank #2, engages in the multiple insurance and retirement businesses in the United States. The company beat estimates in the trailing four quarters, with an average positive earnings surprise of 10.48%.
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