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Prudential's (PRU) Unit Expands Travel Assistance Offerings

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Prudential Financial Inc.’s PRU subsidiary The Prudential Insurance Company of America has selected International Medical Group (IMG) to offer agents and members of Prudential more travel assistance offerings and a new insurance product.

Founded in 1990, IMG is a group of health service companies with regional reputation for customer focus, innovation and quality patient care. IMG offers a full line of international medical insurance products as well as trip cancellation programs, stop loss insurance, medical management services and a 24/7 emergency medical and travel assistance.
IMG, with its vast experience in coordinating and managing care through wide health networks as well as complex medical transports and assistance cases, is providing an array of services ranging from emergency medical transport, medical assistance, travel assistance to security assistance services among others, which are now included in the travel assistance service portfolio of Prudential effective 2020.

As far as IMG is concerned, the combination of its cross-border resources with Prudential’s offerings all over the market is likely to enable both entities mete out better products and services to those in need.

The offerings of Prudential comprise identity theft assistance, increased trip duration, rise in political and natural disaster evacuation services plus telemedicine capabilities.

Prudential Group Insurance has been catering to travel assistance requirements for the past many years. With unique features from IMG, the company is expected to provide better and more enriched financial wellness solutions to customers. IMG enabled Prudential to provide an out-of-country medical plan for employees shifting abroad.

Shares of this Zacks Rank #3 (Hold) multi line insurer have gained 3.5% in a year’s time, underperforming the industry’s rally of 8.5%. Nevertheless, the company’s policy to ramp up growth and solidify its capital position should continue to drive the share price higher.

Stocks to Consider

Some better-ranked stocks from the same space are EverQuote, Inc. EVER, MGIC Investment Corporation MTG and MetLife, Incorporation (MET - Free Report) . While EverQuote sports a Zacks Rank #1 (Strong Buy), MGIC Investment and MetLife carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

EverQuote enables consumers to shop for auto, home and life insurance quotes. It serves carriers, agents, financial advisors, and indirect distributors and aggregators. The company’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 84.25%.

MGIC Investment Corporation offers private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States. The company’s earnings topped the Zacks Consensus Estimate in the last four quarters, the average being 12.63%.

MetLife deals in insurance, annuities, employee benefits and asset management businesses. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages as well as prepaid legal plans. The company’s earnings beat estimates in three of the last four quarters, the average beat being 3.28%.

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