Conifer Holdings, Inc. CNFR

Competitive advantage analysis · financial-services

Insurance & Reinsurance
Overall moat score
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Ranked against 45 peers in Insurance - Property & Casualty

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Underwriting Discipline

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Signals, strengths and risks for Underwriting Discipline

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Signals, strengths and risks for Float Investment Quality

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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Capital Strength & Solvency

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Signals, strengths and risks for Operational Efficiency

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Signals, strengths and risks for Scale & Diversification

Where CNFR ranks in Insurance - Property & Casualty

Conifer Holdings, Inc. ranks #44 of 44 scored companies in Insurance - Property & Casualty by moat score — the top 100%. The widest moat in the group is Palomar Holdings, Inc. (PLMR) at 76/100.

# Company Moat score Rating
36 Stewart Information Services Co STC 36/100 Developing
37 Global Indemnity Group, LLC GBLI 34/100 Developing
38 ProAssurance Corporation PRA 30/100 Developing
39 Root, Inc. ROOT 29/100 Developing
40 Kemper Corporation KMPR 27/100 Developing
41 Trupanion, Inc. TRUP 24/100 Weak
42 Lemonade, Inc. LMND 20/100 Weak
43 NI Holdings, Inc. NODK 18/100 Weak
44 Conifer Holdings, Inc. CNFR 0/100 Weak

See every Insurance & Reinsurance company ranked by moat score →

How CNFR scores on the Insurance & Reinsurance defenses

Underwriting Discipline

Not measurable · 25% of the moat score

Underwriting discipline is the core insurance moat, and it consists mostly of the willingness to lose business.

Float Investment Quality

Not measurable · 20% of the moat score

Float is the money an insurer holds between collecting premiums and paying claims — capital it invests but does not own.

Pricing Power

Not measurable · 18% of the moat score

For an insurer, pricing power is the ability to push rate ahead of claims inflation and keep the policyholders anyway.

Capital Strength & Solvency

Not measurable · 17% of the moat score

Capital is what lets an insurer credibly promise to pay a claim that has not happened yet, and it is scrutinised by regulators and rating agencies alike.

Operational Efficiency

Not measurable · 12% of the moat score

The expense ratio — what it costs to acquire and administer a policy — is the half of the combined ratio management fully controls.

Scale & Diversification

Not measurable · 8% of the moat score

Diversification is a real economic advantage in insurance rather than a portfolio preference: risks spread across perils, geographies and lines are less likely to arrive at once, so the same capital supports more premium.

How each Insurance & Reinsurance defense is measured, in full →

Understanding CNFR's moat

What is Conifer Holdings, Inc.'s moat score?

Conifer Holdings, Inc. (CNFR) scores 0 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #44 of 44 scored companies in Insurance - Property & Casualty, the top 100%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 45 companies in Insurance - Property & Casualty.

How does Conifer Holdings, Inc. compare with other Insurance - Property & Casualty companies?

Conifer Holdings, Inc. ranks #44 of 44 scored companies in Insurance - Property & Casualty by moat score. The widest moat in Insurance - Property & Casualty is Palomar Holdings, Inc. (PLMR) at 76/100. The companies ranked closest are NI Holdings, Inc. (NODK) at 18 just above it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Insurance & Reinsurance in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 45 companies in Insurance - Property & Casualty. The defenses are then weighted to produce the overall score out of 100.

Why is Conifer Holdings, Inc. scored with the Insurance & Reinsurance template?

An insurer is paid before it knows what its product cost, and invests the money in the meantime. Profit therefore comes from two sources that must both work: pricing risk better than rivals, and earning a return on the float those premiums create. The Insurance template scores that pair, along with the capital that lets a company survive the year in which the losses arrive together.

Which competitive defenses are measured for Conifer Holdings, Inc.?

The Insurance & Reinsurance template measures 6 defenses, and CNFR scores: Underwriting Discipline (not measurable), Float Investment Quality (not measurable), Pricing Power (not measurable), Capital Strength & Solvency (not measurable), Operational Efficiency (not measurable), Scale & Diversification (not measurable). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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