Can Assurant and Plug Elevate the Pre-Owned Tech Experience?

Assurant, Inc. AIZ, a leading global provider of protection solutions for connected devices, vehicles, and homes, has entered a strategic collaboration with Plug, a St. Louis-based direct-to-consumer platform. Plug focuses on delivering certified pre-owned smartphones, tablets, computers, and accessories to customers nationwide and has seen rapid growth in the recommerce space.

The collaboration aims to elevate the customer experience by strengthening Plug’s core commitments, including a 12-month limited warranty, a 30-day satisfaction guarantee, and swift, free shipping throughout the United States. Customers will benefit not only from Plug’s rigorous 90-point inspection process but also from the added assurance of Assurant’s global standards in refurbishment and device protection. Tech shoppers can look forward to a broader range of certified pre-owned devices at lower prices, giving them more options and greater value.

With its bold marketing, growing customer base, and strong D2C platform, Plug is poised to lead the next wave of consumer adoption in the secondary device market. Assurant’s investment will accelerate this growth, expanding access to high-quality, affordable, and trusted pre-owned devices on a larger scale. This move also supports sustainability efforts by keeping devices in circulation for longer, reducing electronic waste, and contributing to the advancement of a circular economy.

The partnership with Plug allows Assurant to tap into new revenue streams by integrating its protection plans, warranties, and support services into Plug’s fast-growing D2C platform. It strengthens Assurant’s brand presence in the consumer space and improves asset efficiency. As the volume of devices under coverage increases, Assurant is well-positioned to benefit from economies of scale, lower service costs, and long-term growth in profitability.

AIZ’s YTD Price Performance

In the year-to-date period, Prudential’s shares have lost 10.8% compared with the industry average. Due to an increase in policyholder benefits, underwriting, interest expense and other macroeconomic factors, Assurant continues to face pressure.

Zacks Rank & Key Picks

AIZ currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the  Insurance - Multi line space are EverQuote, Inc. EVER,Hamilton Insurance Group, Ltd. HG and Allianz SE ALIZY. While EverQuote sports a Zacks Rank #1 (Strong Buy), Hamilton andAllianz each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate forEverQuote’s current-year earnings is pegged at $1.18 per share, implying 34.1% year-over-year growth. EverQuote’s earnings surpassed estimates in each of the last four quarters, the average surprise being 122.6%. The consensus estimate for EVER’s current-year revenues is pegged at $644.1 million, implying 28.7% year-over-year growth.

The Zacks Consensus Estimate for Hamilton’s current-year earnings is pegged at $3.15 per share. Hamilton surpassed estimates in three of the last four reported quarters, the average surprise being 264.1%. The consensus estimate for HG’s current-year revenues is pegged at $2.6 billion, implying 11% year-over-year growth.

The Zacks Consensus Estimate forAllianz’s current-year earnings is pegged at $3.20 per share, implying 16.4% year-over-year growth. It surpassed estimates in three of the last four reported quarters, the average surprise being 2.05%. The consensus estimate for ALIZY’s current-year revenues is pegged at $113.7 billion, implying 1% year-over-year growth.

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This article originally published on Zacks Investment Research (zacks.com).

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