In this article, we will take a look at the 15 best multi policy insurance companies heading into 2024. If you want to skip our detailed analysis, you can go directly to 5 Best Multi Policy Insurance Companies Heading into 2024.
The Revolution in the Insurance Industry
The insurance industry is constantly evolving to offer simplified insurance solutions to customers. To achieve such, companies are constantly striving to integrate technology into their systems. For instance, Zipari is an insurance technology startup that has a group of experts and advocates engaged in the development of transformative CX technology to make health insurance simple for all types of customers. You can also take a look at some of the best life insurance companies heading into 2024.
On October 20, Zipari announced a strategic partnership with Protocol-Driven Healthcare Inc. (PDHI). PDHI is a leading software development company focused on providing support for health plans, point of care, and corporate wellness health initiatives. Zipari will leverage PDHI's technology solutions to enhance the customer experience. Prominent features include personalized member experiences, enhanced population health management, and the provision of rewards to incentivize healthy behavior among members. The partnership will allow the two companies to identify health trends, account for discrepancies in health management, and develop customized and targeted medical solutions for individuals.
Prominent Names in the Multi Policy Insurance Industry
Humana Inc. (NYSE:HUM), The Allstate Corporation (NYSE:ALL), and The United Services Automobile Association are among the best multi insurance companies heading into 2024. Let's take a look at some recent updates from these companies.
Humana Inc. (NYSE:HUM) is a prominent name in the health insurance industry offering dental, vision, and hearing insurance. Wall Street is positive on Humana Inc. (NYSE:HUM). On December 12, Argus Research analyst David Toung upgraded his rating on Humana Inc. (NYSE:HUM) to Buy from Hold and reiterated a price target of $550. Over the past 3 months, 12 Wall Street analysts have recommended to Buy the stock. Humana Inc. (NYSE:HUM) has an average price target of $583.20 and a high forecast of $640.
The Allstate Corporation (NYSE:ALL) is an insurance company based in the United States. The company provides coverage across multiple lines of insurance including home, motorcycle, auto, and RV. On November 6, The Allstate Corporation (NYSE:ALL) released the latest version of its mobile application with new and improved features. These include GasBuddy, SpotHero, Risk Factor, and Allstate’s own Good Hands Repair Network. The new features allow users to find the lowest-priced fuel in the area, understand climate risks to their homes, and find repair shops when needed.
The Allstate Corporation's (NYSE:ALL) commitment to go beyond providing traditional insurance services explains its solid financial performance. On November 1, The Allstate Corporation (NYSE:ALL) reported earnings for the fiscal third quarter of 2023. The company reported earnings per share of $0.81, beating estimates by $0.32. The company also posted revenue worth $14.50 billion during the quarter, ahead of market consensus by $1.06 billion, with a year-over-year revenue growth rate of 8.39%.
The United Services Automobile Association, also known as USAA, is a leading life insurance company based in the United States. On October 6, The United Services Automobile Association announced a strategic partnership with Trust & Will. The company will leverage Trust & Will's capabilities in estate planning. The platform will allow USAA members to benefit from discounts, receive priority member support, acquire legally valid documents, and gain access to a plethora of educational and study resources.
Some other notable names in the multi policy insurance market include Allianz SE (OTC:ALIZY), The Progressive Corporation (NYSE:PGR), and Chubb Limited (NYSE:CB). With that, let's take a look at the 15 best multi policy insurance companies heading into 2024. You can also take a look at some of the best supplemental insurance companies heading into 2024.
15 Best Multi Policy Insurance Companies Heading into 2024
15 Best Multi Policy Insurance Companies Heading into 2024
Our Methodology
We employed a consensus approach to come up with the 15 best multi policy insurance companies heading into 2024. We sifted through 5 reports on the internet compiled by Forbes, CNBC, US News, Policy Genius, and Bank Rate. This thorough process enabled us to compile a list of the 25 best multi policy insurance companies heading into 2024. We then sourced the market cap for publicly listed companies and the latest annual revenue for private companies. We sourced market caps from Yahoo Finance, and annual revenue from official company reports. The list of the 15 best multi policy insurance companies heading into 2024 is in ascending order of the market capitalization as of December 18, 2023, or annual revenue for the latest available year.
15 Best Multi Policy Insurance Companies Heading into 2024
Market Capitalization as of December 18, 2023: $14.90 Billion
With a market cap of $14.9 billion, as of December 18, Aviva plc (OTC:AVVIY) ranks among the best multi policy insurance companies heading into 2024. The company is based in London and is one of the largest general insurance providers. Users can enjoy a 10% discount if they add a new vehicle to their existing insurance policy. Users may add up to five vehicles to one policy. Aviva plc (OTC:AVVIY) provides users with a customized cover for each vehicle in the same policy.
Some of the top multi policy insurance companies with competitive offerings include Allianz SE (OTC:ALIZY), The Progressive Corporation (NYSE:PGR), and Chubb Limited (NYSE:CB).
14. The Hartford Financial Services Group, Inc. (NYSE:HIG)
Market Capitalization as of December 18, 2023: $24.01 Billion
The Hartford Financial Services Group, Inc. (NYSE:HIG) ranks among the best multi policy insurance companies heading into 2024. The investment and insurance company is based in the United States and provides a range of bundled insurance policies. Users can save more than $600 with a bundled auto and home insurance policy. Possible combinations include auto and home, auto and condo, and auto and renters. The Hartford Financial Services Group, Inc. (NYSE:HIG) has a market cap of $24.01 billion, as of December 18.
13. The United Services Automobile Association
Annual Revenue (2022): $36.00 Billion
The United Services Automobile Association, also known as USAA, ranks among the best multi policy insurance companies heading into 2024. The company provides a range of insurance coverage including car insurance, homeowners insurance, and motorcycle insurance. Users can save 10% on their bundled home, auto, and renters insurance policy. The United Services Automobile Association reported annual revenue worth $36 billion in 2022.
Market Capitalization as of December 18, 2023: $36.39 Billion
The Allstate Corporation (NYSE:ALL) provides property and casualty, and other insurance products. The company is based in Illinois. It allows users to bundle their home and auto insurance policies to ensure cost and time savings. Popular bundled insurance combinations include home and auto insurance, renters and auto insurance, and renters and motorcycle insurance. Users may gain a 25% discount if they bundle home and auto insurance. The Allstate Corporation (NYSE:ALL) has a market cap of $36.39 billion, as of December 18.
Market Capitalization as of December 18, 2023: $41.75 Billion
The Travelers Companies, Inc. (NYSE:TRV) ranks as one of the best multi policy insurance companies heading into 2024. The company is based in New York and provides coverage for travel insurance, auto insurance, business insurance, and homeowners insurance. Users can avail a 10% discount for their can insurance policy if bundled with an existing home insurance policy. The Travelers Companies, Inc. (NYSE:TRV) boasts a market cap of $41.75 billion, as of December 18.
Market Capitalization as of December 18, 2023: $49.12 Billion
MetLife, Inc. (NYSE:MET) has a market cap of $49.12 billion. The company ranks among the best multi policy insurance companies heading into 2024. The company is based in New York and provides health insurance, life insurance, dental insurance, disability insurance, and vision insurance. The company offers a range of bundles based on the client's needs and market demands. The Simple Smart bundle by MetLife, Inc. (NYSE:MET) offers add-on insurance coverage across vision, life, and disability insurance lines, given the user has an existing dental insurance policy.
9. Liberty Mutual Insurance
Annual Revenue (2022): $50.00 Billion
Liberty Mutual Insurance reported annual revenue worth $50 billion in 2022 and ranks among the best multi policy insurance companies heading into 2024. The company is based in the United States and provides auto, life, health, and motorcycle insurance coverage. Liberty Mutual Insurance allows users to bundle auto and home insurance policies to save almost $950. Possible bundled insurance combinations include auto and home insurance, auto and renters insurance, and auto and condo insurance.
8. Nationwide Mutual Insurance Company
Annual Revenue (2022): $56.80 Billion
The Nationwide Mutual Insurance Company ranks as one of the best multi policy insurance companies heading into 2024. Based in Ohio, the company provides home insurance, auto insurance, property insurance, and car insurance. The company offers discounts on a bundled insurance policy. Possible combinations include auto and home, auto and renters, motorcycle and renters, boat and auto, multi-car, and auto, and home and life insurance. Nationwide Mutual Insurance Company reported annual revenue worth $56.8 billion in 2022.
Market Capitalization as of December 18, 2023: $56.81 Billion
Humana Inc. (NYSE:HUM) is a leading health insurance company based in Kentucky, United States. With a market cap of $56.81 billion, as of December 18, the company ranks as one of the best multi policy insurance companies heading into 2024. Under its bundled insurance policy, Humana Inc. (NYSE:HUM) allows clients to combine dental, vision, and hearing insurance into a single plan. The bundles come in three distinct packages including Humana Extend 1250, Humana Extend 2500, and Humana Extend 5000.
Market Capitalization as of December 18, 2023: $71.68 Billion
AXA SA (OTC:AXAHY) is a multinational insurance company based in Paris, France. The investment management and insurance company provides coverage for car insurance, health insurance, and motorcycle insurance among other insurance lines. Users can get a 10% discount on a new car policy, given they already own a car, home, or van insurance policy. Moreover, users can avail a 5% discount on a new home insurance policy if bundled with an existing car or van insurance policy and a 20% discount on a new van insurance policy bundled with an existing car insurance policy. AXA SA (OTC:AXAHY) has a market cap of $71.68 billion, as of December 18.
In addition to AXA SA (OTC:AXAHY), other top insurance services providers that are leading the market include Allianz SE (OTC:ALIZY), The Progressive Corporation (NYSE:PGR), and Chubb Limited (NYSE:CB).
