Aflac Incorporated AFL recently collaborated with digital health platform NeuroFlow to provide a state-of-the-art mental health solution to new or current fully insured AFL clients who have group long-term disability policies. The NeuroFlow solution is expected to roll out to eligible Aflac customers starting in the third quarter of 2022.
Aflac shares have lost 4.3% on March 1, replicating declines in broader markets.
The recent partnership highlights Aflac’s dual effort. First, it intends to extend the NeuroFlow solution to its employees, allowing them to detect and navigate prevalent or undiscovered behavioral health issues. The solution offers self-service resources, making it easy to detect behavioral health conditions early and prevent the situation from escalating. The latest move will result in better health outcomes through constant monitoring of health conditions.
Second, Aflac intends to enhance its group long-term disability offering by integrating the mental health solution into it. With AFL insuring more than 1,000 lives through the offering, the strengthening of the offering is likely to entice more customers to opt for group long-term disability policies. Aflac is the leading provider of short-term disability benefits and long-term disability benefits in the United States, and effective solutions similar to NeuroFlow minimize the need for clients to file claims. This bodes well for insurers as higher claims can lead to substantial cash loss.
NeuroFlow appears to be the right partner to complement Aflac’s effort, as the mental health solution is designed to address discrepancies in behavioral health programs offered by employers and has services to reach high-risk individuals and offer them a proper care.
Efforts similar to the latest are also timely, as Americans have been dealing with mounting mental health issues for quite some time. The COVID-19 pandemic has only further exacerbated the scenario, calling for the need for accessible and enhanced behavioral health services. This clearly indicates strong demand for behavioral health services, giving Aflac the perfect opportunity to capitalize. According to the American Psychological Association, 67% of Americans reported dealing with increased stress amid the pandemic. There is a great need to address mental and emotional health issues seen particularly in the workplace.
Considering the recent partnership with a digital health company that offers self-service resources, Aflac appears to be in sync with the current trend of integrating digitization into all spheres of life. AFL has made digital transformation efforts, which have improved its operational efficiency. Meanwhile, the insurer has made significant digital investments to transition to digital sales methods and enable seamless service delivery amid pandemic-driven volatilities that restricted face-to-face sales opportunities.
Aflac shares have gained 19.4% in one year compared to the industryrally of 17.7%. AFL currently ranks Zacks #3 (hold).
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Actions to consider
Some top-ranked stocks in the insurance space are Horace Mann Educators Corporation HMN, Old Republic International Corporation OR ME and cno financial group, inc. CNO. While Horace Mann sports a Zacks Rank #1 (Strong Buy), Old Republic and CNO Financial have a Zacks Rank #2 (Buy) today. You can see the full list of today’s Zacks #1 rank stocks here.
Horace Mann’s earnings beat estimates in each of the past four quarters, averaging 22.80%. The Zacks Consensus Estimate for HMN earnings in 2022 suggests a 1.1% improvement over the figure reported a year ago, while the same for revenue suggests 1% growth. The consensus mark for 2022 earnings has moved north 8.4% in the last seven days. Horace Mann has a value score of b
Old Republic’s bottom line beat earnings estimates in each of the last four quarters, with an average surprise of 38.74%. The Zacks Consensus Estimate for ORI earnings in 2022 has been revised upwards by 3.7% over the last 30 days. Old Republic has a VGM score of b
CNO Financial’s earnings beat estimates in each of the past four quarters, averaging 25.48%. The Zacks Consensus Estimate for CNO earnings in 2022 has moved 2.1% north in the last seven days. CNO Financial has a VGM score of B.
Horace Mann and Old Republic shares have gained 2.4% and 30%, respectively, in one year. Meanwhile, shares of CNO Financial have lost 3.7% in the same time period.
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CNO Financial Group, Inc. (CNO): Free Stock Research Report
Aflac Incorporated (AFL): Free Stock Research Report
Old Republic International Corporation (ORI): Free Stock Research Report
Horace Mann Educators Corporation (HMN): Free Stock Analysis Report
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