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Travelers (TRV) Becomes BrokerTech's First Carrier Partner
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The Travelers Companies, Inc. (TRV - Free Report) has entered into a partnership with BrokerTech Ventures (BTV).
To improve innovation, BTV enters into strategic partnerships with some of the greatest insurtech forces in the industry. Per this deal, Travelers will be added as the first carrier partner to the platform.
BTV, formed in 2019 and founded in Des Moines, IA, is the first broker-led investor group and accelerator program. It delivers innovation to the insurance agent-broker industry. It invests in research and testing for each of the startups, provides access to veteran industry mentors and helps scale the technology to market through broker distribution channels.
BTV comprises 13 super-regional, privately-held insurance brokerage firms, spanning from Silicon Valley to New Jersey, representing nearly $30 billion in collective annual premiums. BTV plans to add additional brokers to the platform in the near term.
The partnership between BTV and Travelers is a strategic fit as it will enable the latter to collaborate on technology solutions for agents and brokers. Further, both the companies will be able to meet the needs of their customers digitally.
Travelers has partnerships with several incubators that provide it with easy access to startups, which are focused on developing technology solutions for the insurance industry.
Shares of this Zacks Rank #3 (Hold) property and casualty insurer have lost 24.6% year to date compared with the industry’s decline of 20.9%. Nonetheless, the company’s policy to ramp up its growth profile and capital position should drive shares higher.
Stocks to Consider
Some better-ranked stocks from the property and casualty insurance sector include National General Holdings Corp. , The Allstate Corporation (ALL - Free Report) and Palomar Holdings Inc. (PLMR - Free Report) . While National General Holdings carries a Zacks Rank #1 (Strong Buy), Allstate and Palomar carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
National General’s earnings beat estimates in two of the last four quarters and missed in the other two, the average positive surprise being 5.68%.
Allstate surpassed estimates in each of the last four quarters, with the average positive surprise being 18.45%.
Palomar surpassed estimates in two of the last four quarters, with the average positive surprise being 10.93%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Travelers (TRV) Becomes BrokerTech's First Carrier Partner
The Travelers Companies, Inc. (TRV - Free Report) has entered into a partnership with BrokerTech Ventures (BTV).
To improve innovation, BTV enters into strategic partnerships with some of the greatest insurtech forces in the industry. Per this deal, Travelers will be added as the first carrier partner to the platform.
BTV, formed in 2019 and founded in Des Moines, IA, is the first broker-led investor group and accelerator program. It delivers innovation to the insurance agent-broker industry. It invests in research and testing for each of the startups, provides access to veteran industry mentors and helps scale the technology to market through broker distribution channels.
BTV comprises 13 super-regional, privately-held insurance brokerage firms, spanning from Silicon Valley to New Jersey, representing nearly $30 billion in collective annual premiums. BTV plans to add additional brokers to the platform in the near term.
The partnership between BTV and Travelers is a strategic fit as it will enable the latter to collaborate on technology solutions for agents and brokers. Further, both the companies will be able to meet the needs of their customers digitally.
Travelers has partnerships with several incubators that provide it with easy access to startups, which are focused on developing technology solutions for the insurance industry.
Shares of this Zacks Rank #3 (Hold) property and casualty insurer have lost 24.6% year to date compared with the industry’s decline of 20.9%. Nonetheless, the company’s policy to ramp up its growth profile and capital position should drive shares higher.
Stocks to Consider
Some better-ranked stocks from the property and casualty insurance sector include National General Holdings Corp. , The Allstate Corporation (ALL - Free Report) and Palomar Holdings Inc. (PLMR - Free Report) . While National General Holdings carries a Zacks Rank #1 (Strong Buy), Allstate and Palomar carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
National General’s earnings beat estimates in two of the last four quarters and missed in the other two, the average positive surprise being 5.68%.
Allstate surpassed estimates in each of the last four quarters, with the average positive surprise being 18.45%.
Palomar surpassed estimates in two of the last four quarters, with the average positive surprise being 10.93%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>