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Prudential (PRU) Unit Inks Strategic Deal With PlanSource

Zacks

Prudential Financial Inc.’s PRU business unit Prudential Group Insurance has partnered with PlanSource Boost to enhance the process of choosing and managing group benefits with new and enhanced partnerships for smoother, real-time and personalized interactions.

Orlando, FL based PlanSource is a technology company that strives to offer an enhanced benefits experience for employees and the Human Resource teams that support them. PlanSource Boost is an exclusive program of select carriers and PlanSource to create a futuristic customer experience with real-time application programming interface (API) integrations.

The program offers optimized benefits shopping, simplified billing, preferred pricing and real-time API integrations.

This strategic partnership will enable Prudential to simplify and improve interactions with customers.

The employers will get PlanSource benefits technology platform at a discounted price on buying qualifying products from participating carriers. The billing process will be simplified with the use of PlanSource, which is time saving for HR professionals.

Also, PlanSource and its Boost partners will enhance the experience for employees and HR teams by automating the configuration of benefit plans, streamlining evidence of insurability and enrollment transactions.

As far as PlanSource is concerned, the partnership with Prudential has enabled it to offer superior customer experience and an opportunity to improve employee engagement.

Shares of this Zacks Rank #4 (Sell) multi-line insurer have lost 40.6% in a year’s time, compared with the industry’s decline of 24.1%. Nevertheless, Prudential’s policy to ramp up growth and solidify its capital position should continue to drive shares higher.

Stocks to Consider

Some better-ranked stocks from the same space are Kemper Corporation KMPR, EverQuote, Inc. EVER and Horace Mann Educators Corporation HMN, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Kemper surpassed estimates in each of the last four quarters, with the average positive surprise being 16.25%.

EverQuote surpassed estimates in each of the last four quarters, with the average positive surprise being 86.67%.

Horace Mann surpassed estimates in two of the last four quarters, with the average positive surprise being 11.03%.

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