Yahoo Finance Chubb (CB), SentineIOne Unite to Enhance Cyber Insurance Offerings
Chubb Limited CB recently announced its partnership with SentinelOne, Inc. S to improve its offerings in the cyber insurance space. SentinelOne is an established leader in cybersecurity, which helps detect, prevent and respond to cyber-attacks.
This move bodes well for Chubb as it will be able to streamline cyber risk management procedures for businesses in the United States. Cyber insurance policyholders with more than $100 million in revenues can share their security posture data through S’s automated incident response and endpoint protection solutions with Chubb.
SentinelOne’s Watchtower Vital Signs Report application will effectively communicate with Chubb, the cybersecurity profile of the policyholders. This will help Chubb improve its underwriting process and result in efficiency in operations. These moves are expected to aid the company in improving its financial performance in the future.
Chubb will be able to enhance its offerings as policyholders and agents get simplified renewal of policies, discounts and increased visibility of cyber threats. They can also get access to S’s discounted subscriptions and be able to protect their digital assets with well-equipped tools.
This partnership came in at an opportune time when cyber threats are becoming increasingly devastating, and businesses look forward to protecting their digital assets and building resiliency in business. Policyholders can view their businesses’ cybersecurity health and make policy purchase decisions accordingly. This will help with client satisfaction and the potential for new business due to improved offerings in the future. The collaboration with SentineIOne should reflect positive results in Chubb’s Commercial Property and Segment business.
Zacks Rank & Price Performance
Chubb currently carries a Zacks Rank #2 (Buy).
Shares of CB have gained 11.9% in the past three months compared with the industry’s growth of 6.6%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the property and casualty insurance industry are Axis Capital Holdings Limited AXS and Cincinnati Financial Corporation CINF. While Axis Capital sports a Zacks Rank #1 (Strong Buy), Cincinnati Financial carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axis Capital has a solid track record of beating earnings estimates in three of the last four quarters and missing in one, the average being 9.75%.
The Zacks Consensus Estimate for AXS’ 2023 and 2024 earnings per share is pegged at $8.41 and $9.31, indicating a year-over-year increase of 44.7% and 10.7%, respectively.
Cincinnati Financial has a solid track record of beating earnings estimates in three of the last four quarters and missing in one, the average being 25.25%. Year to date, CINF has gained 2.7%.
The Zacks Consensus Estimate for CINF’s 2023 and 2024 earnings per share is pegged at $5 and $5.88, indicating a year-over-year increase of 17.9% and 17.6%, respectively.
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
Chubb Limited (CB) : Free Stock Analysis Report
SentinelOne, Inc. (S) : Free Stock Analysis Report
Cincinnati Financial Corporation (CINF) : Free Stock Analysis Report
Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report
