Greenlight Capital Unveils Innovation Unit, Boosts Services
Zacks Investment Research | Mar 06, 2018 10:28PM ET
Greenlight Capital Re, Ltd. (NASDAQ:GLRE) has recently unveiled an innovation unit, Greenlight Re Innovations, which will likely help it provide much more improved products and services to its clients as well as the underlying businesses. With this newly launched unit, the property and casualty (P&C) insurer is expected to boost its product and service portfolio and amp up the overall efficiency.
Greenlight Re Innovations and its Impact
The new innovation unit will be resorting to technology, data and new risk transfer delivery methods to improve the quality and efficiency of Greenlight Capital’s products and services. With this, it will ensure raising the standard and effectiveness of risk management techniques. Thus, the unit will be able to attain its primary goal of lending support to commerce and personal health and welfare. As a result, a more holistic risk management approach and practice will be implemented to integrate readiness, leading-edge technologies for prevention as well as post-loss mitigation along with risk finance.
Greenlight Re Innovations addresses the growing need for better suited products and services in the rapidly-changing environment of fast-paced innovative products and services. Moreover, the P&C insurer acknowledges the importance of technological advancements, which in turn generate increasing sources of data. The main agenda of Greenlight Capital is to capitalize on such developments and data sources by creating and introducing effective and beneficial market risk products. This in turn will allow the company to avoid large, permanent teams of resources undermining the benefits available to the clients.
Greenlight Capital operates as a specialist property and casualty reinsurance company, offering customized reinsurance solutions to insurance, risk retention clients as well as catering to captive and financial marketplaces. This latest innovation unit, projected to help bolstering the service and product portfolio of the insurer, will enable it to improve its overall performance and accelerate the growth pace in the near term.
Zacks Rank and Share Price Movement
Greenlight Capital carries a Zacks Rank #5 (Strong Sell). Shares of the company have underperformed the Original post
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