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ATLANTA - Assurant, Inc. (NYSE: AIZ), a global provider of protection services with a market capitalization of $10.8 billion and annual revenue of $11.9 billion, has introduced a new vehicle service contract called Assurant Vehicle Care Technology Plus. This innovative offering combines coverage for advanced vehicle technology and wear-and-tear items with smartphone repair benefits, the company announced today. According to InvestingPro data, Assurant maintains a perfect Piotroski Score of 9, indicating strong financial performance and operational efficiency.
The new plan is designed to address the growing integration of high-tech components in modern vehicles, such as sensors for safety systems, adaptive cruise control, and infotainment screens. It also recognizes the essential role smartphones play in vehicle operations, such as remote starting and emergency services.
Assurant Vehicle Care Technology Plus extends beyond traditional vehicle service contracts by including Assurant® Device Care, which allows customers to access smartphone repairs at reduced fees. This service is available at over 900 Assurant Repair Network locations nationwide.
Additionally, the plan covers parts that are typically not included in a vehicle manufacturer’s warranty, such as wheel alignment, batteries, fuses, headlamp bulbs, belts, hoses, spark plugs, and windshield wiper blades. It also offers complementary protection services like 24/7 emergency roadside assistance, substitute transportation benefits, and emergency travel expense reimbursement, although the latter is not available in New York.
The service contract aims to provide comprehensive coverage that adds value for customers, particularly those leasing vehicles or those who trade in their vehicles after a short duration of ownership. Assurant also sees this as an opportunity for dealers to reconnect with customers who may have previously declined traditional vehicle service contracts. With a strong financial health score rated as "GOOD" by InvestingPro, the company appears well-positioned to support its service commitments. InvestingPro subscribers can access 8 additional key insights about Assurant’s financial outlook.
Assurant Global Automotive, a division of Assurant, Inc., has over 60 years of experience in the automotive industry, protecting 55 million motor vehicles across 19 countries. The company offers a range of automotive solutions, including vehicle service contracts, asset protection, and ancillary products, as well as dealer performance management and training.
This announcement is based on a press release statement from Assurant, Inc., a Fortune 500 company operating in 21 countries, known for partnering with leading brands to safeguard and service connected devices, homes, and automobiles. The company has maintained dividend payments for 21 consecutive years and currently trades at an attractive P/E ratio of 14.5. Based on InvestingPro’s Fair Value analysis, the stock appears to be undervalued. For deeper insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. For more information, visit assurant.com.
In other recent news, Assurant has been the focus of several significant updates. Truist Securities maintained a Buy rating on Assurant, setting a price target of $250. This decision follows a detailed review of the company’s earnings guidance, which was adjusted due to increased catastrophe losses from the LA wildfires. Despite the reduction in the 2025 earnings per share estimate, Truist introduced a new 2026 EPS estimate of $20.50, reflecting confidence in the company’s future performance. Assurant has also made notable leadership changes in its European and Latin American operations. Felipe Sanchez has been appointed president of Assurant Europe, pending regulatory approval, while Christian Formby will transition to president of Specialty Solutions, Global Housing. Diego Gomez will take over as president of Assurant Mexico, and Ines Aramburu is set to become president of Assurant Argentina. These leadership changes are part of Assurant’s strategy to enhance its international business and foster talent development.
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