Lincoln National (LNC) Ties Up to Gain on Modern Life’s Platform

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Lincoln National Corporation LNC recently unveiled a partnership of its wholesale distribution franchise, Lincoln Financial Distributors (LFD), with the tech-powered life insurance brokerage Modern Life.

LNC will leverage the technology prowess of Modern Life’s digital platform to exhibit its life insurance product suite of permanent and term coverage as well as linked benefit products.

Financial professionals can utilize the product portfolio of LNC and better serve their clients through a streamlined digital experience. This is possible as Modern Life’s technology utilizes data and analytics to speed up risk assessment and quoting.

Modern Life seems the apt partner for assisting LNC in helping out financial professionals to grow their business prospects. Business growth is achievable only if a financial specialist eases the life insurance purchase process for its clients. Notably, Modern Life’s integrated dashboard precisely minimizes the friction points for financial professionals.

The credible brokerage capability of Modern Life extends individualized assistance to overcome headwinds encountered by the professionals from intricate underwriting solutions, enhanced case design or sales concepts.

The recent collaboration is expected to bolster Lincoln National’s distribution reach, ramp up its virtual-first distribution strategy and offer greater transparency for financial professionals availing the product suite.  

This concept of taking the help of a digital platform to highlight one’s products seems a time opportune move on the part of Lincoln National. The reason can be attributed to the ongoing digitization in every sphere of life, with the life insurance industry being no exception to the trend. Technology continues to play a vital role in keeping financial professionals and their clients connected to each other.

The COVID-19 pandemic redefined the steps of a life insurance policy purchase and replaced face-to-face conversations with video calls. Digital forms emerged in place of paper applications, while in-person medical exams were taken over by predictive underwriting models. Thus, there is a dire need for injecting digitization into the system to ensure uninterrupted virtual communication among all parties involved, including wholesalers, financial professionals and end consumers, in an insurance buying process.

Also, Lincoln National shows prudence in making an effort to boost sales of its life insurance products via this latest alliance, since the products usually follow a seasonal pattern of strong sales in the second half of the year.

Shares of Lincoln National have lost 36.1% year to date compared with the industry’s decline of 22.6%.


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Zacks Rank & Key Picks

Lincoln National currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the insurance space are Radian Group Inc. RDN, Unum Group UNM and Arch Capital Group Ltd. ACGL, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The bottom line of Radian outpaced estimates in three of the last four quarters and missed the mark once, the average being 29.51%. The Zacks Consensus Estimate for RDN’s 2022 earnings suggests an improvement of 32.7% from the year-ago reported figure. The consensus mark for Radian’s 2022 earnings has moved 16.1% north in the past 60 days.

Unum Group’s bottom line outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 30.13%. The Zacks Consensus Estimate for UNM’s 2022 earnings indicates an 40.7% improvement from the prior-year figure. The consensus mark for Unum Group’s 2022 earnings has moved 1.5% north in the past 30 days.

The bottom line of Arch Capital outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, the average surprise being 33.64%. The Zacks Consensus Estimate for ACGL’s 2022 earnings suggests a 29.6% improvement, while the same for revenues indicates a 13.2% rise from the respective prior-year reported figures. The consensus mark for Arch Capital’s 2022 earnings has moved 3.6% north in the past 60 days.

Shares of Unum Group and Arch Capital have gained 59.3% and 0.7%, respectively, year to date. Meanwhile, the Radian stock has lost 7.4% in the same time frame.

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Lincoln National Corporation (LNC): Free Stock Analysis Report
 
Unum Group (UNM): Free Stock Analysis Report
 
Radian Group Inc. (RDN): Free Stock Analysis Report
 
Arch Capital Group Ltd. (ACGL): Free Stock Analysis Report
 
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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