Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. PCCW Limited
  6. News
  7. Summary
    8   HK0008011667

PCCW LIMITED

(8)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Major U.S. insurers jump on distribution platforms to gain customers, sales

09/07/2021 | 07:04am EDT
FILE PHOTO: The logo Travelers Companies Inc (TRV) is seen in Los Angeles

NEW YORK (Reuters) - Major U.S. insurers are joining new digital exchanges to sell not only their own policies but also those of rivals, a fresh twist in an industry known for fierce competition.

The powerful new platforms, including Semsee, bolttech, Bold Penguin and Uncharted, pull data from many carriers, allowing agents to see multiple quotes for policies, much the way travel agents see competing air fares.

Chubb Ltd, Travelers Companies Inc and Liberty Mutual have signed on recently as have agencies that also sell policies, executives said.

"The eyeballs are enormous and important to them," said Philip Charles-Pierre, New York-based co-founder and chief executive officer of Semsee, which focuses on commercial policies. Many insurers have recognized that "if a large agency is using the platform, you need to be on that platform."

The growth of digital distribution represents a shift in how insurers compete in markets for auto and homeowner coverage as well as business and commercial lines worth hundreds of billions of dollars annually, experts said.

Carriers also benefit from being able to meet more of a customer's needs, even if they are not selling their own policy.

"It's all about who owns the customer relationship," said Mark Breading, a partner at Strategy Meets Action, a management consulting firm in New York.

The industry has been moving away from "captive" agents who sell only one firm's policies, but digital exchanges are accelerating the trend, said Matt Leonard, an Oliver Wyman partner who works on insurance.

"The whole process is now supercharged by technology and a broader marketplace of players," he said.

Partnerships with the exchanges have grown over the past five years. Despite digital revolutions in other industries, many insurance customers - especially small businesses - prefer to work with agents who can explain policies and find the best prices. As a result, the online tools insurers created on their own did not take off as expected.

The exchanges now allow agents to offer customers better prices and satisfy a wider range of needs without necessarily harming profits, executives and experts said.

"Chubb is actively engaged with a number of partners in this channel including bolttech and Bold Penguin," said Sean Ringsted, chief digital officer at Chubb.

Rob Schimek, bolttech's CEO, offered an example: A company that writes policies for autos but not homes can use bolttech to offer homeowner coverage from other carriers. That keeps customers from shopping elsewhere. The auto-policy company earns a sales commission on the homeowners policy while the other insurer gets the premium revenue.

"Carriers are dying for access to distribution," Schimek said. If insurers don't want to offer policies through the exchange, they will not have access to the customers of other insurers on the exchange, he said.

Bolttech, backed in part by Chinese billionaire Richard Li, recently closed on a $180 million funding round and expanded its reach to 26 countries from 14.

While exchanges bring more customers, they pose a threat by allowing smaller insurers with specialized policies to reach a large market, said Matteo Carbone, founder and director of IoT Insurance Observatory, a research group.

"This, for me, is the biggest risk" to big insurers, he said.

(Reporting by Alwyn Scott; Editing by Lauren Tara LaCapra and Howard Goller)

By Alwyn Scott


© Reuters 2021
All news about PCCW LIMITED
10/08PCCW : Disney+ Streaming Platform Launches Nov. 16 in Hong Kong
MT
10/06PCCW, Shun Tak Lead Fundraising Worth $300 Million for Baidu-Backed WM Motor
MT
10/04PACIFIC CENTURY PREMIUM DEVELOPMENTS : CFO Resigning; Successor Named
MT
09/30PCCW Limited Announces Executive changes
CI
09/26PCCW : Asian Insurer FWD Group Files for NYSE Listing
MT
09/23SIAM COMMERCIAL BANK PUBLIC : Hong Kong tycoon Richard Li's FWD makes U.S. IPO filing publ..
RE
09/09VANTAGE DATA CENTERS MANAGEMENT COMP : 8).
CI
09/02PCCW Limited Declares an Interim Dividend Six Months Ended June 30, 2021, Payable on or..
CI
08/27Analysis-Southeast Asia tech dealmaking booms as investors place post-COVID bets
RE
08/27Southeast Asia tech dealmaking booms as investors place post-COVID bets
RE
More news
Analyst Recommendations on PCCW LIMITED
More recommendations
Financials
Sales 2021 39 053 M 5 020 M 5 020 M
Net income 2021 695 M 89,3 M 89,3 M
Net Debt 2021 50 922 M 6 545 M 6 545 M
P/E ratio 2021 44,1x
Yield 2021 8,20%
Capitalization 30 974 M 3 982 M 3 981 M
EV / Sales 2021 2,10x
EV / Sales 2022 2,03x
Nbr of Employees 22 000
Free-Float 50,5%
Chart PCCW LIMITED
Duration : Period :
PCCW Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PCCW LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 4,01 HKD
Average target price 4,86 HKD
Spread / Average Target 21,3%
EPS Revisions
Managers and Directors
Srinivas Bangalore Gangaiah Group Managing Director & Executive Director
Hon Hing Hui Group Chief Financial Officer & Executive Director
Tzar Kai Li Executive Chairman
Aman Som Mehta Independent Non-Executive Director
Wai Kwun Wong Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
PCCW LIMITED-14.13%3 982
VERIZON COMMUNICATIONS-11.03%216 404
CHARTER COMMUNICATIONS, INC.5.67%128 497
CHINA MOBILE LIMITED10.07%128 063
NIPPON TELEGRAPH AND TELEPHONE CORPORATION18.81%98 982
DEUTSCHE TELEKOM AG10.50%90 940