Aflac Incorporated’s AFL Dental and Vision branch recently tied up with SKYGEN, a renowned technology company specializing in dental and vision insurance plans. As a reliable partner for specialty benefit payers and government agencies, SKYGEN manages the delivery and administration of dental and vision benefits, catering to roughly 50 million members across 50 states.
The service model of the Aflac Dental & Vision business is expected to improve on SKYGEN's extensive industry experience, an enhanced suite of software applications and expertise in data protection and information security. The recent move should allow Aflac to enhance its claims and billing processes with SKYGEN's industry-leading automation, increasing speed and accuracy.
The SKYGEN Dental Hub provides a single point of connection to seamlessly connect providers, insurers, patients and industry partners, ensuring a more cohesive and positive experience for the stakeholders. With the SKYGEN member portal, members will find it easier to locate providers that best suit their needs, verify covered services and review claims history. Additionally, they will have access to educational resources, crucial administrative data and reports through the member portal.
Therefore, the recent partnership reflects Aflac’s sincere efforts to upgrade capabilities in the form of better management of dental and vision benefits. This, in turn, is likely to bring higher customer satisfaction, attract new customers and retain the existing ones, implying increased sales of Aflac Dental and Vision insurance products. The resultant benefit may be reaped by AFL in the form of improved premiums, which remain the most significant top-line contributor for an insurer.
SKYGEN seems to be the apt partner to complement Aflac’s endeavor since the advanced technology and service solutions of the former back its clients to become the most efficient and effective healthcare organizations in the country.
Aflac remains a prominent provider of supplemental coverage across the individual and group supplemental insurance markets across the United States. Moves similar to the latest one reinforce continuous efforts of the insurer to boost sales of its supplemental insurance plans. In May 2024, AFL teamed up with the leading benefits experience platform, Nayya, by virtue of which it could utilize the medical claims integration solution of the latter and provide an enhanced claims experience for its supplemental health plan clients.
Shares of Aflac have risen 27.2% in the past year compared with the industry’s 21.1% growth. AFL currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the insurance space are Palomar Holdings, Inc. PLMR, Reinsurance Group of America, Incorporated RGA and NMI Holdings, Inc. NMIH. While Palomar sports a Zacks Rank #1 (Strong Buy), both Reinsurance Group and NMI carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Palomar’s earnings surpassed estimates in each of the last four quarters, the average surprise being 15.10%. The Zacks Consensus Estimate for PLMR’s 2024 earnings suggests an improvement of 26% from the year-ago reported figure, while the same for revenues implies growth of 34.2%.The consensus mark for PLMR’s 2024 earnings has moved 4% north in the past 60 days.
The bottom line of Reinsurance Group outpaced estimates in each of the last four quarters, the average surprise being 19.48%. The Zacks Consensus Estimate for RGA’s 2024 earnings suggests an improvement of 5.3% from the year-ago reported figure, while the same for revenues implies growth of 13.6%. The consensus mark for RGA’s 2024 earnings has moved 1.4% north in the past 30 days.
NMI’s earnings surpassed estimates in each of the last four quarters, the average surprise being 8.60%. The Zacks Consensus Estimate for NMIH’s 2024 earnings suggests an improvement of 10.7% from the year-ago reported figure, while the same for revenues implies growth of 11.1%. The consensus mark for NMIH’s 2024 earnings has moved 1.4% north in the past 60 days.
Shares of Palomar, Reinsurance Group and NMI have risen 46.3%, 45.3% and 33.5%, respectively, in the past year.
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Free: See Our Top Stock and 4 Runners Up >>Aflac Incorporated (AFL) : Free Stock Analysis Report
Reinsurance Group of America, Incorporated (RGA) : Free Stock Analysis Report
NMI Holdings Inc (NMIH) : Free Stock Analysis Report
Palomar Holdings, Inc. (PLMR) : Free Stock Analysis Report
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