RLI Corp. (RLI) Invests in Technology to Resolve Claims

Technology Sector Update for 10/14/2019: YNDX, GOOG, GOOGL, DOX, MSFT, AAPL, IBM, CSCO

RLI Corp.’s RLI main subsidiary RLI Insurance Company’s unit RLI Transportation announced the launch of digital accident kits.

With the new digital accident kits, insured drivers of RLI Transportation can now report the details of an accident with an Internet-compatible device. After completing the accident information, they can provide the photos and submit the same to RLI Transportation with the use of smartphone, tablet, iPad or other device.

The usage of digital accident kits enables immediate reporting of claims, which can lead to a significant improvement in customer service.

RLI Transportation provides a wide range of commercial vehicle insurance coverage for operators of truck, bus and commercial auto fleets. It has extensive experience in the transportation industry and provides innovative solutions to meet the needs of customers.

Shares of this Zacks Rank #1 (Strong Buy) property and casualty insurer have gained 31.5% year to date, outperforming the industry’s increase of 8.5%. The company’s policy to ramp up its growth profile and capital position should continue to drive shares higher.

Other Stocks to Consider

Some other top-ranked insurance industry players include Donegal Group Incorporation DGICA Hallmark Financial Services HALL and Cincinnati Financial Corporation CINF. While Donegal Group sports a Zacks Rank #1, Hallmark Financial Services and Cincinnati Financial carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Donegal provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England and southern states. The company beat earnings estimates in the trailing four quarters, the average being 248.34%.

Hallmark Financial underwrites markets, distributes and services property and casualty insurance products in the United States. The company came up with average four-quarter positive surprise of 95.27%.

Cincinnati Financial provides property casualty insurance products in the United States and offers coverage for commercial casualty, commercial property, commercial auto, and workers’ compensation. The company beat earnings estimates in the trailing four quarters, the average being 20.79%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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