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Prudential (PRU) Tie-up To Boost Digital Caregiving Services
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Prudential Financial, Inc. (PRU - Free Report) recently collaborated with the Wellthy. The alliance has paved the way for integration of digital and concierge caregiving services portfolio of Wellthy into Prudential, which is likely to bolster the latter’s financial wellness portfolio. Notably, shares of the company gained 0.8% on Feb 17.
About Wellthy
India-based Wellthy is best known for its integrated digital platform that makes use of clinical and behavioral science for devising tailored solutions. Starting with the idea of treating people with type 2 Diabetes in 2016, the company has ventured into treating a diverse range of chronic conditions including hypertension and dyslipidemia.
Providing improved health outcomes for patients over the years has reinforced Wellthy’s position in the caregiving space. The company aims to fulfill its target of improving the health of 10 million people plagued with a chronic condition by 2030.
Rationale Behind the Deal
With the latest tie-up, Prudential will have access to the digital caregiving tools of Wellthy at free of cost. The move seems to be in sync with the company’s efforts to offload the caregiving burden of employers.
Moreover, Wellthy seems to be a suitable partner for complementing Prudential’s endeavor since the digital platform of Wellthy can not only take charge of caregiving activities but also offer the option of concierge services, which results in substantial time savings for employers. Further, pursuing investments in caregiving services can also result in cost savings for employers, who otherwise were grappling with costs incurred on lost productivity, absences and talent retention.
Addressing Employee Well-Being: Need of the Hour
The importance of caregiving services has been further highlighted by financial insecurities induced by the COVID-19 pandemic, which have taken a toll on the mental health of individuals. Workplace productivity issues also came to the forefront amid the period. For any organization to function efficiently, promoting employee well-being remains of utmost priority.
With the pandemic further exerting pressure on the caregiving system, Prudential’s recent tie-up seems to be time opportune since Wellthy’s service performs specific caregiving-linked administrative and logistical tasks, thereby, resulting in reduced stress and higher productivity.
Moreover, Prudential has been striving for the well-being of its employees and members. This month, the company’s unit Prudential Group Insurance launched a behavioral health and care management solution named NeuroFlow for aiding its disability insurance claimants. In May 2020, the same unit had partnered with PlanSource Boost to enhance the process of choosing and managing group benefits with new and enhanced partnerships for smoother, real-time and personalized interactions.
Shares of Prudential have gained 20.8% in the past six months compared with the industry’s growth of 26.7%.
The company carries a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked stocks in the insurance space include Old Republic International Corporation (ORI - Free Report) , Alleghany Corporation and First American Financial Corporation (FAF - Free Report) . While Old Republic sports a Zacks Rank #1 (Strong Buy), Alleghany and First American Financial carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Old Republic, Alleghany and First American Financial have a trailing four-quarter earnings surprise of 65.77%, 34.08% and 15.86%, on average, respectively.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Prudential (PRU) Tie-up To Boost Digital Caregiving Services
Prudential Financial, Inc. (PRU - Free Report) recently collaborated with the Wellthy. The alliance has paved the way for integration of digital and concierge caregiving services portfolio of Wellthy into Prudential, which is likely to bolster the latter’s financial wellness portfolio. Notably, shares of the company gained 0.8% on Feb 17.
About Wellthy
India-based Wellthy is best known for its integrated digital platform that makes use of clinical and behavioral science for devising tailored solutions. Starting with the idea of treating people with type 2 Diabetes in 2016, the company has ventured into treating a diverse range of chronic conditions including hypertension and dyslipidemia.
Providing improved health outcomes for patients over the years has reinforced Wellthy’s position in the caregiving space. The company aims to fulfill its target of improving the health of 10 million people plagued with a chronic condition by 2030.
Rationale Behind the Deal
With the latest tie-up, Prudential will have access to the digital caregiving tools of Wellthy at free of cost. The move seems to be in sync with the company’s efforts to offload the caregiving burden of employers.
Moreover, Wellthy seems to be a suitable partner for complementing Prudential’s endeavor since the digital platform of Wellthy can not only take charge of caregiving activities but also offer the option of concierge services, which results in substantial time savings for employers. Further, pursuing investments in caregiving services can also result in cost savings for employers, who otherwise were grappling with costs incurred on lost productivity, absences and talent retention.
Addressing Employee Well-Being: Need of the Hour
The importance of caregiving services has been further highlighted by financial insecurities induced by the COVID-19 pandemic, which have taken a toll on the mental health of individuals. Workplace productivity issues also came to the forefront amid the period. For any organization to function efficiently, promoting employee well-being remains of utmost priority.
With the pandemic further exerting pressure on the caregiving system, Prudential’s recent tie-up seems to be time opportune since Wellthy’s service performs specific caregiving-linked administrative and logistical tasks, thereby, resulting in reduced stress and higher productivity.
Moreover, Prudential has been striving for the well-being of its employees and members. This month, the company’s unit Prudential Group Insurance launched a behavioral health and care management solution named NeuroFlow for aiding its disability insurance claimants. In May 2020, the same unit had partnered with PlanSource Boost to enhance the process of choosing and managing group benefits with new and enhanced partnerships for smoother, real-time and personalized interactions.
Shares of Prudential have gained 20.8% in the past six months compared with the industry’s growth of 26.7%.
The company carries a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked stocks in the insurance space include Old Republic International Corporation (ORI - Free Report) , Alleghany Corporation and First American Financial Corporation (FAF - Free Report) . While Old Republic sports a Zacks Rank #1 (Strong Buy), Alleghany and First American Financial carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Old Republic, Alleghany and First American Financial have a trailing four-quarter earnings surprise of 65.77%, 34.08% and 15.86%, on average, respectively.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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