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XL Catlin, the global brand used by XL Group Ltd XL, has recently announced certain enhancements made to an online underwriting platform, which is set to simplify the workflow of design professional brokers. The upgraded technology will provide brokers with faster, single-point access to rate, bind and issue professional liability insurance coverage for a set of clients including other design professionals and architects.
In order to make things easier, this new and improved technology will be available to brokers on tablets and mobiles, thereby boosting their efficiencies. In fact, this new system will also help a client fill in an online form, which can be directly uploaded into the XL Catlin’s underwriting system by integrating a digitalized application with the mobile and tablet formats.
Keeping in mind the fast-paced environment of the design professional industry, mainly driven by the growing need for effective professional services, XL Catlin has made this technological advancement to the underwriting platform. High demand for professional services and right insurance products prompted XL Catlin to develop the product that will offer extremely responsive and fast insurance solutions.
Moreover, such kind of technology will enable the clients to protect themselves from high profile business exposures such as cyber risk and employment practices liability.
XL Catlin has been consistent in making significant enhancements in its product portfolio, thus aiding the clients to address their specific needs in the respective areas. This in turn has considerably benefitted XL Group to further focus on the creation and improvement of new capabilities in the insurance space. Relying on an already strong international exposure and diversified product offerings, we expect XL Group to be well placed, pertaining to generating higher premiums that might drive top-line growth in future.
Zacks Rank and Share Price Movement
XL Group carries a Zacks Rank #3 (Hold). Shares of the company have outperformed the industry year to date. The stock has soared 56.7% against the industry’s decrease of 1.2%. We expect improved pricing, higher investment income and a robust capital position to drive the shares up in the near term.
Stocks to Consider
Some better-ranked stocks from the insurance industry are Radian Group RDN, CNO Financial Group CNO and CNA Financial Corporation CNA, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Radian Group offers mortgage and real-estate products and services in the United States. The company delivered positive surprises in three of the last four quarters with an average beat of 7.9%.
CNO Financial develops, markets and administers health insurance, annuity, individual life insurance and other insurance products for senior and middle-income markets in the United States. The company came up with positive surprises in the last four quarters with an average beat of 23.9%.
CNA Financial provides commercial property and casualty insurance products primarily in the United States. The company pulled off positive surprises in all the trailing four quarters with an average beat of 46.9%.
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Radian Group Inc. (RDN) : Free Stock Analysis Report
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