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Assurant (AIZ) Acquires TRYGLE, Enhances Use of Mobile Devices

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Zacks Equity Research
·4 min read
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Assurant, Inc. AIZ has acquired the leading software development company TRYGLE Co. Ltd. (TRYGLE).

TRYGLE develops and operates a mobile phone app known as Torisetsu, which enables consumers to manage the lifecycle of their devices and centrally organize digital technical manuals and instructions for all the products and devices in their connected home like model or system or set-up, on their smartphone, tablet or on the web.

Further, the mobile phone app includes recent news and product reviews, providing easy access to information.

The buyout of TRYGLE will enable Assurant, a global provider of lifestyle and housing solutions, to offer its consumers a new type of customer experience wherein the lifecycle of their consumer goods can be managed through an easy-to-use digital experience from conducting pre-purchase research to maximizing the ability to fully utilize the product until replacing it with the next generation model.

Moreover, this acquisition will enhance Assurant’s connected-home strategy in Japan. The deal is likely to boost the multi-line insurer’s capability to furnish its customers with additional service offerings and technology solutions to keep them connected, thus optimizing their use of mobile devices, electronics and home appliances regularly.

Assurant partners with leading brands to develop innovative products and services plus deliver an enhanced customer experience. Through its Global Lifestyle segment, it provides mobile device solutions, and extended service products as well as related services to consumer electronics and appliances, which is referred to as Connected Living. Hence, the recent buyout is likely to bolster the Global Lifestyle unit of the company.

In the above segment, revenues from service contracts and sales of products are primarily derived from the company’s Connected Living business.
Through partnerships with mobile carriers, Assurant provides administrative services related to its mobile device protection products including customer support and claims handling, service delivery besides repair and logistics among others.

Global Lifestyle segment contributed to 60.8% of the company’s operating earnings in 2020. Going forward, earnings expansion is expected to be led by mobile apart from new and expanded programs as well as contributions from latest consolidations.

Shares of this currently Zacks Rank #5 (Strong Sell) multi-line insurer have underperformed the industry in a year’s time. The stock has gained 70.9% compared with the industry’s increase of 99%.

Key Players

Some better-ranked players in the multi-line insurance industry are Old Republic International Corporation ORI, James River Group Holdings Ltd. JRVR and SelectQuote, Inc. SLQT. While Old Republic International sports a Zacks Rank #1 (Strong Buy), James River Group and SelectQuote carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Old Republic International has a trailing four-quarter earnings surprise of 65.77%, on average.

James River Group’s bottom line surpassed estimates in three of the last four quarters (missing the mark in one), the average beat being 11.63%.

SelectQuote’s earnings surpassed estimates in three of the last four quarters (missing the same in one), the average surprise being 121.53%.

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Assurant, Inc. (AIZ) : Free Stock Analysis Report

Old Republic International Corporation (ORI) : Free Stock Analysis Report

James River Group Holdings, Ltd. (JRVR) : Free Stock Analysis Report

SelectQuote, Inc. (SLQT) : Free Stock Analysis Report

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