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Lincoln National, PlanSource to Better Benefits Experience
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Lincoln National Corporation (LNC - Free Report) recently joined PlanSource Boost, a unique collaboration plan of PlanSource, which is a leading provider of cloud-based software. This innovative partnership program is aimed at improving the benefits experience through optimized benefits shopping, convenient billing system, real-time API integrations and favorable pricing.
Rationale Behind the Move
It is undoubtedly the right time to promote employee engagement. The staff will be able to gain traction from this easy-to-use benefits technology experience with self-service education via a mobile-friendly and convenient location.
Per a study conducted by Lincoln Financial Group and The Center for Generational Kinetics, 62% millennials gave up researching information on the benefits or financial products. This is crucial since understanding a benefit was the top priority among millennials to determine whether or not to enroll.
This new program is expected to enhance benefits management, ease the administrative pressure on HR teams and optimize benefits of shopping for employees.
When employers offer one or more qualifying lines of Lincoln Financial Group coverage, they get an enriching employee experience in return with learning material and relevant content, preferred pricing for the PlanSource benefits technology platform, simple billing and payment methods, etc.
Recent Initiatives
The company has also been active in fight the COVID-19 effect on business. It is consistently taking steps to protect and further improve its capital position by decelerating the sales of high risk products to reduce capital consumption, suspending share buybacks for the second quarter and selectively trimming the investment portfolio.
Additionally, on the business mix front, sales of products with long-term guarantees have been curtailed. The company also successfully minimized expenses by $100 million in 2020 to offset headwinds.
In light of the above-mentioned measures, we believe, the company is poised well for growth.
Zacks Rank and Price Performance
Year to date, shares of this Zacks Rank #4 (Sell) company have lost 18.4%, narrower than the industry’s decline of 21.7%.
Other companies in the same space include Brighthouse Financial Inc. (BHF - Free Report) , Primerica Inc. (PRI - Free Report) and Athene Holdings Ltd. , which too have depreciated 9.3%, 5.5% and 25%, respectively. While Brighthouse Financial currently holds a Zacks Rank #2 (Buy), Primerica and Athene currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>
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Lincoln National, PlanSource to Better Benefits Experience
Lincoln National Corporation (LNC - Free Report) recently joined PlanSource Boost, a unique collaboration plan of PlanSource, which is a leading provider of cloud-based software. This innovative partnership program is aimed at improving the benefits experience through optimized benefits shopping, convenient billing system, real-time API integrations and favorable pricing.
Rationale Behind the Move
It is undoubtedly the right time to promote employee engagement. The staff will be able to gain traction from this easy-to-use benefits technology experience with self-service education via a mobile-friendly and convenient location.
Per a study conducted by Lincoln Financial Group and The Center for Generational Kinetics, 62% millennials gave up researching information on the benefits or financial products. This is crucial since understanding a benefit was the top priority among millennials to determine whether or not to enroll.
This new program is expected to enhance benefits management, ease the administrative pressure on HR teams and optimize benefits of shopping for employees.
When employers offer one or more qualifying lines of Lincoln Financial Group coverage, they get an enriching employee experience in return with learning material and relevant content, preferred pricing for the PlanSource benefits technology platform, simple billing and payment methods, etc.
Recent Initiatives
The company has also been active in fight the COVID-19 effect on business. It is consistently taking steps to protect and further improve its capital position by decelerating the sales of high risk products to reduce capital consumption, suspending share buybacks for the second quarter and selectively trimming the investment portfolio.
Additionally, on the business mix front, sales of products with long-term guarantees have been curtailed. The company also successfully minimized expenses by $100 million in 2020 to offset headwinds.
In light of the above-mentioned measures, we believe, the company is poised well for growth.
Zacks Rank and Price Performance
Year to date, shares of this Zacks Rank #4 (Sell) company have lost 18.4%, narrower than the industry’s decline of 21.7%.
Other companies in the same space include Brighthouse Financial Inc. (BHF - Free Report) , Primerica Inc. (PRI - Free Report) and Athene Holdings Ltd. , which too have depreciated 9.3%, 5.5% and 25%, respectively. While Brighthouse Financial currently holds a Zacks Rank #2 (Buy), Primerica and Athene currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>