CNO Financial (CNO) Unit Ties Up to Boost Advocacy Services
CNO Financial Group, Inc.’s CNO unit, Optavise, teamed up with the clinical-first care navigation company, SentryHealth. The partnership will enhance the advocacy services of CNO with the inclusion of clinical advocacy and virtual care components, thanks to SentryHealth.
CNO Financial’s employer clients will get access to an end-to-end solution, as a result of which they can deliver better concierge services to their employee base. This, in turn, will ensure an in-depth understanding and better management of benefits by the employees.
Apart from managing benefits, the newly introduced clinical advocacy services basically refer to educating employees on the diagnosis of a disease and the subsequent discussion of suitable treatment plans by expert professionals. This is likely to bring about improved health outcomes for an employers’ workforce.
Consequent to a clinical assessment, the role of an expert professional will be performed by a Nurse Advocate who will reply to medical queries, educate the employees and recommend an array of suitable treatment options. The nurse may suggest to go for a second opinion in order to get correct diagnosis and treatment, search for less-invasive alternatives, refer to well-versed doctors and facilities or suggest virtual care in case of mental health therapy, chronic condition management and lifestyle coaching.
The upgraded advocacy services are likely to bolster the employer client base of the Optavise brand of CNO Financial and fetch higher fee income to the parent company. Presently, Optavise forms a part of the fee income segment of CNO through which it offers personalized benefits education, advocacy and transparency as well as communications compliance services, which aid employers in bringing down healthcare costs and pave the way for informed benefits decisions made by employers.
The Optavise unit was acquired by CNO Financial in 2021, considering the innovative benefits management services and advanced enrolment capabilities of the acquiree.
Also, the latest collaboration with SentryHealth seems to be a time opportune move on the part of CNO Financial in the light of escalating healthcare expenses across the United States. The incorrrect diagnosis of a disease can not only result in the loss of lives but also lead to incurring significant costs. Thereby, assistance from a Nurse Advocate can prove to be of great use as it will protect the health of employees, provide them with the best possible care and minimize the need for unrequired visits, tests, and treatments.
Shares of CNO Financial have gained 21.8% in a year against the industry’s 2.6% decline. CNO currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the insurance space are AXIS Capital Holdings Limited AXS, Cincinnati Financial Corporation CINF and Assurant, Inc. AIZ. AXIS Capital sports a Zacks Rank #1 (Strong Buy), Cincinnati Financial and Assurant carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
AXIS Capital’s earnings surpassed estimates in three of the trailing four quarters and missed the mark once, the average surprise being 9.75%. The Zacks Consensus Estimate for AXS’s 2023 earnings suggests 44.8% year-over-year growth, while the same for revenues indicates an improvement of 7.9%. The consensus mark for AXS’s 2023 earnings has moved 10.4% north in the past 30 days.
The bottom line of Cincinnati Financial outpaced earnings estimates in three of the last four quarters and missed the mark once, the average surprise being 25.25%. The Zacks Consensus Estimate for CINF’s 2023 earnings suggests 17.9% year-over-year growth, while the same for revenues indicates an improvement of 12.2%. The consensus mark for CINF’s 2023 earnings indicates a 12.1% north in the past 30 days.
Assurant’s earnings beat estimates in each of the trailing four quarters, the average surprise being 24.39%. The Zacks Consensus Estimate for AIZ’s 2023 earnings and revenues suggests a rise of 13% and 4.1%, respectively, from the prior-year reported figures. The consensus mark for AIZ’s 2023 earnings has moved 13.2% north in the past 30 days.
Shares of AXIS Capital and Cincinnati Financial have gained 1.3% and 2.9%, respectively, over a year. However, the Assurant stock has lost 14.3% in the same time frame.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CNO Financial Group, Inc. (CNO) : Free Stock Analysis Report
Cincinnati Financial Corporation (CINF) : Free Stock Analysis Report
Assurant, Inc. (AIZ) : Free Stock Analysis Report
Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report
