Cincinnati Financial Corporation (CINF): Business Model Canvas

Entdecken Sie die strategische Blaupause hinter der Cincinnati Financial Corporation (CINF), einem Kraftpaket in der Versicherungslandschaft, das komplexes Risikomanagement in ein nahtloses Geschäftsmodell umwandelt. Durch die sorgfältige Ausarbeitung eines innovativen Ansatzes, der umfassende Versicherungslösungen mit modernster Technologie und personalisierten Kundenerlebnissen in Einklang bringt, hat sich CINF als dynamischer Akteur auf dem wettbewerbsintensiven Versicherungsmarkt positioniert. Ihr einzigartiges Business Model Canvas offenbart eine ausgefeilte Strategie, die über traditionelle Versicherungsparadigmen hinausgeht und Anlegern und Kunden gleichermaßen eine überzeugende Darstellung finanzieller Widerstandsfähigkeit und strategischen Wachstums bietet.

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Wichtige Partnerschaften

Versicherungs- und Rückversicherungsunternehmen zur Risikoteilung

Die Cincinnati Financial Corporation unterhält strategische Partnerschaften mit mehreren Rückversicherungsunternehmen, um Risiken in ihrem Versicherungsportfolio zu verwalten und zu verteilen.

Rückversicherungspartner	Rückversicherungskapazität	Art der Deckung
Münchener Rück	250 Millionen US-Dollar pro Vorfall	Selbstbeteiligung im Schaden- und Unfallbereich
Swiss Re	200 Millionen US-Dollar pro Vorfall	Betriebshaftpflicht-Rückversicherung
Hannover Rück	175 Millionen US-Dollar pro Vorfall	Katastrophenrückversicherung

Unabhängige Versicherungsvertreter und Makler

Die Cincinnati Financial Corporation nutzt für den Vertrieb ein umfangreiches Netzwerk unabhängiger Versicherungsagenten.

• Gesamtes unabhängiges Agentennetzwerk: 2.387 Agenturen im Jahr 2023
• Durchschnittliche Dauer des Agenturverhältnisses: 18,5 Jahre
• Geografische Abdeckung: 44 Bundesstaaten in den Vereinigten Staaten

Technologieanbieter für digitale Infrastruktur

Technologieanbieter	Service bereitgestellt	Jährliche Investition
Microsoft Azure	Cloud-Computing-Infrastruktur	12,5 Millionen US-Dollar
Salesforce	Kundenbeziehungsmanagement	4,3 Millionen US-Dollar
Guidewire-Software	Versicherungskernsysteme	7,8 Millionen US-Dollar

Finanzdienstleister für ergänzende Angebote

Die Cincinnati Financial Corporation arbeitet mit verschiedenen Finanzdienstleistern zusammen, um ihr Produktökosystem zu verbessern.

• Bankpartner: 17 regionale und überregionale Bankinstitute
• Investment-Management-Firmen: 8 strategische Partnerschaften
• Gesamtzahl der kooperativen Finanzdienstleistungsvereinbarungen: 25

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Hauptaktivitäten

Schaden- und Unfallversicherungs-Underwriting

Die Cincinnati Financial Corporation zeichnet Schaden- und Unfallversicherungen anhand der folgenden Schlüsselkennzahlen ab:

Metrisch	Wert
Gebuchte Gesamtprämien (2022)	6,28 Milliarden US-Dollar
Prämien für kommerzielle Linien	2,47 Milliarden US-Dollar
Prämien für Privatkunden	3,81 Milliarden US-Dollar

Schadensbearbeitung und -management

Zu den Möglichkeiten zur Schadensbearbeitung gehören:

• Gesamtzahl der im Jahr 2022 gezahlten Ansprüche: 4,1 Milliarden US-Dollar
• Durchschnittliche Schadensbearbeitungszeit: 30–45 Tage
• Quote der digitalen Schadeneinreichung: 68 %

Risikobewertung und Preisgestaltung

Zu den Risikomanagementstrategien gehören:

Risikokategorie	Bewertungsmethode	Auswirkungen auf die Preisgestaltung
Eigentumsrisiko	Erweiterte Geodatenanalyse	±15 % Prämienanpassung
Kommerzielles Risiko	Branchenspezifische Risikomodellierung	±22 % Prämienschwankung

Anlageportfoliomanagement

Zusammensetzung des Anlageportfolios:

• Gesamtinvestitionsportfolio: 22,3 Milliarden US-Dollar (2022)
• Wertpapiere mit fester Laufzeit: 81 %
• Beteiligungspapiere: 19 %
• Durchschnittliche Anlagerendite: 4,2 %

Kundendienst und Support

Kennzahlen zur Kundenbindung:

Servicemetrik	Leistung
Kundenzufriedenheitswert	4.6/5
Digitale Service-Interaktionen	72 % aller Interaktionen
Durchschnittliche Reaktionszeit	2,3 Stunden

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Schlüsselressourcen

Starkes Finanzkapital und Reserven

Zum vierten Quartal 2023 berichtete die Cincinnati Financial Corporation:

Finanzkennzahl	Betrag
Gesamtvermögen	24,6 Milliarden US-Dollar
Gesamteigenkapital	8,9 Milliarden US-Dollar
Anlageportfolio	22,1 Milliarden US-Dollar

Umfangreiches Netzwerk unabhängiger Agenten

Statistiken zum Agentennetzwerk:

• Insgesamt unabhängige Agentenpartner: Über 2.000
• Geografische Abdeckung: 45 Staaten
• Durchschnittliche Laufzeit der Agentenbeziehung: 15+ Jahre

Erweiterte Datenanalysefunktionen

Investitionen in Technologie und Analytik:

Kategorie „Analytics-Investitionen“.	Jährliche Ausgaben
Technologieinfrastruktur	85 Millionen Dollar
Entwicklung von Datenanalysen	42 Millionen Dollar

Robuste Technologieinfrastruktur

Aufschlüsselung der Technologieressourcen:

• Cloud-Computing-Plattformen: Multi-Cloud-Strategie
• Budget für Cybersicherheit: 22 Millionen US-Dollar pro Jahr
• IT-Personal: Über 350 Technologieexperten

Erfahrenes Management-Team

Führungsposition	Jahrelange Branchenerfahrung
CEO Steven Johnston	25+ Jahre
CFO Marty Mullen	20+ Jahre
Chief Underwriting Officer	18+ Jahre

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Wertversprechen

Umfassendes Versicherungsproduktportfolio

Cincinnati Financial Corporation bietet eine vielfältige Palette an Versicherungsprodukten an:

Produktkategorie	Jährliche Bruttoprämien
Kommerzielle Linien	2,1 Milliarden US-Dollar
Persönliche Zeilen	1,3 Milliarden US-Dollar
Speziallinien	685 Millionen Dollar

Wettbewerbsfähige Preise und finanzielle Stabilität

Finanzielle Leistungskennzahlen:

• Gesamtvermögen: 21,3 Milliarden US-Dollar
• Gesamteigenkapital: 8,9 Milliarden US-Dollar
• Bewertung der Finanzkraft: A (Ausgezeichnet) von A.M. Am besten

Persönlicher Kundenservice

Details zum Servicenetzwerk:

Servicemetrik	Nummer
Exklusive Agentenpartner	2,200+
Staaten bedient	46
Kundenzufriedenheitsindex	4.2/5

Schnelle und faire Schadensregulierung

Statistiken zur Schadensleistung:

• Durchschnittliche Bearbeitungszeit für Ansprüche: 7,5 Tage
• Jährlich gezahlte Ansprüche: 218.000+
• Gesamtzahl der im Jahr 2023 gezahlten Ansprüche: 1,6 Milliarden US-Dollar

Dividendenausschüttende finanzielle Leistung

Dividendenbilanz:

Metrisch	Wert
Aufeinanderfolgende Jahre der Dividendenzahlungen	64 Jahre
Jährliche Dividendenrendite	2.8%
Gesamtzahl der im Jahr 2023 gezahlten Dividenden	386 Millionen US-Dollar

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Kundenbeziehungen

Langfristiger Beziehungsaufbau

Die Cincinnati Financial Corporation weist in ihren Versicherungsproduktlinien eine durchschnittliche Kundenbindungsrate von 93 % auf. Das Unternehmen betreut Kunden seit über 70 Jahren und zählt im Jahr 2023 rund 2 Millionen Versicherungsnehmer.

Kundensegment	Retentionsrate	Durchschnittliche Vertragslaufzeit
Gewerbliche Versicherung	95.2%	8,7 Jahre
Persönliche Versicherung	91.5%	6,3 Jahre

Persönliche Agenteninteraktion

Cincinnati Financial arbeitet landesweit mit 1.750 unabhängigen Agenturpartnern zusammen. Das Unternehmen beschäftigt 1.200 engagierte Außendienstmitarbeiter, die die direkten Kundenbeziehungen pflegen.

• Durchschnittliche Agentenerfahrung: 12,5 Jahre
• Kundenzufriedenheitsbewertung mit Agenten: 4,7/5
• Jährliche Agentenschulungsstunden: 40 Stunden pro Vertreter

Digitale Self-Service-Plattformen

Die Nutzung digitaler Plattformen stieg im Jahr 2023 auf 68 % der Kunden, mit Online-Policenverwaltungs- und Schadensbearbeitungsfunktionen.

Digitale Servicefunktion	Benutzerprozentsatz
Online-Richtlinienverwaltung	62%
Mobile Schadensmeldung	45%
Digitale Abrechnung	71%

Reaktionsschneller Kundensupport

Cincinnati Financial unterhält ein Kundensupportteam aus 450 Mitarbeitern mit einer durchschnittlichen Reaktionszeit von 17 Minuten über digitale und telefonische Kanäle.

• Durchschnittliche Anruflösungszeit: 12 Minuten
• Verfügbarkeit des Kundensupports: 24/7
• Mehrkanal-Supportoptionen: Telefon, E-Mail, Chat, mobile App

Regelmäßige Kommunikations- und Richtlinienüberprüfungen

Das Unternehmen führt jährliche Richtlinienüberprüfungen für 89 % seiner Kunden durch, wobei die personalisierten Kommunikationskontaktpunkte durchschnittlich 4,3 Interaktionen pro Jahr ausmachen.

Kommunikationskanal	Häufigkeit
Jährliche Richtlinienüberprüfung	89 % der Kunden
E-Mail-Newsletter	Vierteljährlich
Kontaktaufnahme mit persönlichen Agenten	2-3 Mal pro Jahr

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Kanäle

Unabhängiges Versicherungsagentennetzwerk

Cincinnati Financial Corporation arbeitet mit zusammen Über 2.700 unabhängige Versicherungsagenturen in 45 Bundesstaaten. Diese Agenturen generiert 6,7 Milliarden US-Dollar an direkt gebuchten Prämien im Jahr 2022.

Kanaltyp	Anzahl der Agenturen	Geografische Reichweite
Unabhängige Agenten	2,700+	45 Staaten

Direkte Online-Verkaufsplattform

Die digitale Plattform des Unternehmens verarbeitet ca. 1,2 Milliarden US-Dollar an direkten Online-Versicherungstransaktionen im Jahr 2022. Online-Verkäufe repräsentieren 18,5 % des gesamten Prämienvolumens.

Mobile Anwendung

Die mobile App von Cincinnati Financial unterstützt 247.000 aktive Benutzer mit Funktionen wie:

• Richtlinienverwaltung
• Schadenmeldung
• Zugang zur digitalen Versicherungskarte
• Zahlungsabwicklung

Kundendienst-Callcenter

Das Unternehmen unterhält 3 primäre Callcenter mit 412 engagierte Kundendienstmitarbeiter. Die durchschnittliche Antwortzeit beträgt 2,7 Minuten.

Callcenter-Metrik	Leistung
Anzahl der Call Center	3
Kundendienstmitarbeiter	412
Durchschnittliche Reaktionszeit	2,7 Minuten

Niederlassungsstandorte

Cincinnati Financial ist tätig 38 regionale Niederlassungen strategisch in den Vereinigten Staaten positioniert. Diese Zweige unterstützen 7,3 Milliarden US-Dollar an jährlichen Einnahmen aus Gewerbe- und Privatversicherungen.

Details zum Standort der Filiale	Menge
Gesamtzahl der Niederlassungen	38
Jährliche Versicherungseinnahmen	7,3 Milliarden US-Dollar

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Kundensegmente

Kleine bis mittlere Unternehmen

Cincinnati Financial betreut rund 66.000 kleine und mittlere Geschäftskunden in 44 Bundesstaaten. Der durchschnittliche Wert einer Unternehmensversicherung beträgt 7.500 US-Dollar pro Jahr.

Geschäftssegment	Anzahl der Kunden	Durchschnittlicher Versicherungswert
Einzelhandelsunternehmen	18,500	$6,200
Dienstleistungsunternehmen	22,000	$7,800
Fertigungsbetriebe	12,500	$9,300

Einzelne Hausbesitzer

Cincinnati Financial deckt 1,3 Millionen einzelne Hausbesitzer mit einem durchschnittlichen Versicherungswert von 350.000 US-Dollar ab.

• Marktanteil der Hausratversicherung: 2,7 %
• Durchschnittliche Jahresprämie: 1.250 $
• Geografische Abdeckung: Hauptsächlich Mittlerer Westen und Südosten der USA

Eigentümer gewerblicher Immobilien

Das Unternehmen verwaltet Versicherungen für 45.000 Gewerbeimmobilienportfolios mit einem Gesamtwert der Immobilien von über 180 Milliarden US-Dollar.

Immobilientyp	Anzahl der Eigenschaften	Gesamtversicherungswert
Bürogebäude	12,500	62 Milliarden Dollar
Einzelhandelskomplexe	8,900	45 Milliarden Dollar
Industrieanlagen	6,700	38 Milliarden Dollar

Persönliche Kfz-Versicherungskunden

Cincinnati Financial bietet 785.000 Einzelfahrern Kfz-Versicherungen mit einem durchschnittlichen Versicherungswert von 1.450 US-Dollar pro Jahr.

• Marktdurchdringung in Kernstaaten: 5,2 %
• Durchschnittliche Vollkasko-Deckungsgrenze: 500.000 $
• Kollisionsschutzquote: 78 % der Kunden

Spezialisierte Risikomanagement-Kunden

Das Unternehmen betreut 3.200 vermögende Kunden mit komplexem Risikomanagement mit maßgeschneiderten Versicherungslösungen.

Kundenkategorie	Anzahl der Kunden	Durchschnittliche jährliche Prämie
Vermögende Privatpersonen	1,800	$15,000
Große Unternehmen	850	$75,000
Spezialisierte Industriekunden	550	$45,000

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Kostenstruktur

Zahlungen der Maklerprovision

Im Geschäftsjahr 2022 meldete die Cincinnati Financial Corporation Aufwendungen für Maklerprovisionen in Höhe von 525,4 Millionen US-Dollar.

Jahr	Aufwendungen für Maklerprovisionen	Prozentsatz des Gesamtumsatzes
2022	525,4 Millionen US-Dollar	12.3%
2021	503,2 Millionen US-Dollar	11.9%

Kosten für die Schadensbearbeitung

Die Schadenbearbeitungskosten für Cincinnati Financial beliefen sich im Jahr 2022 auf insgesamt 1,87 Milliarden US-Dollar, was einen erheblichen Teil der Betriebskosten darstellt.

• Bearbeitung von Schaden- und Unfallschäden: 1,42 Milliarden US-Dollar
• Schadensersatzforderungen im gewerblichen Bereich: 350 Millionen US-Dollar
• Persönliche Ansprüche: 98 Millionen US-Dollar

Wartung von Technologie und Infrastruktur

Cincinnati Financial investierte im Jahr 2022 87,3 Millionen US-Dollar in die Technologieinfrastruktur und Wartung.

Kategorie „Technologieinvestitionen“.	Ausgabenbetrag
IT-Infrastruktur	52,6 Millionen US-Dollar
Cybersicherheit	18,7 Millionen US-Dollar
Softwareentwicklung	16 Millionen Dollar

Mitarbeitervergütung

Die Gesamtvergütung der Mitarbeiter von Cincinnati Financial belief sich im Jahr 2022 auf 456,2 Millionen US-Dollar.

• Gehälter und Löhne: 342,5 Millionen US-Dollar
• Leistungen und Rentenbeiträge: 83,7 Millionen US-Dollar
• Aktienbasierte Vergütung: 30 Millionen US-Dollar

Kosten für Marketing und Kundenakquise

Die Marketingausgaben für Cincinnati Financial beliefen sich im Jahr 2022 auf 64,5 Millionen US-Dollar.

Marketingkanal	Ausgabenbetrag
Digitales Marketing	27,3 Millionen US-Dollar
Traditionelle Werbung	22,6 Millionen US-Dollar
Kampagnen zur Kundengewinnung	14,6 Millionen US-Dollar

Cincinnati Financial Corporation (CINF) – Geschäftsmodell: Einnahmequellen

Prämien für Sachversicherungen

Im Jahr 2022 meldete Cincinnati Financial gebuchte Sachversicherungsprämien in Höhe von 1.319,8 Millionen US-Dollar. Das Segment Sachversicherung des Unternehmens deckt Wohn- und Gewerbeimmobilienrisiken ab.

Jahr	Prämien für Sachversicherungen	Prozentuales Wachstum
2022	1.319,8 Millionen US-Dollar	5.4%
2021	1.252,3 Millionen US-Dollar	3.2%

Prämien für die Unfallversicherung

Die Unfallversicherungsprämien für Cincinnati Financial erreichten im Jahr 2022 2.077,4 Millionen US-Dollar, was einen erheblichen Teil der gesamten Versicherungseinnahmen des Unternehmens darstellt.

• Haftpflichtversicherungsprämien: 872,6 Millionen US-Dollar
• Arbeitnehmerentschädigungsprämien: 456,2 Millionen US-Dollar
• Kfz-Haftpflichtprämien: 748,6 Millionen US-Dollar

Kapitalerträge

Cincinnati Financial generiert 461,3 Millionen US-Dollar an Kapitalerträgen im Jahr 2022, mit folgender Aufteilung:

Anlagekategorie	Einkommensbetrag
Wertpapiere mit fester Laufzeit	342,7 Millionen US-Dollar
Beteiligungspapiere	78,5 Millionen US-Dollar
Andere Investitionen	40,1 Millionen US-Dollar

Gewerbeversicherung

Die Prämien für die Gewerbeversicherung beliefen sich auf insgesamt 1.456,9 Millionen US-Dollar im Jahr 2022, mit Schlüsselsegmenten wie:

• Gewerbliche Sachversicherung: 512,3 Millionen US-Dollar
• Kommerzielle allgemeine Haftpflicht: 394,6 Millionen US-Dollar
• Gewerbliche Kfz-Versicherung: 325,4 Millionen US-Dollar
• Gewerbliche Dachversicherung: 224,6 Millionen US-Dollar

Privatversicherung

Prämien für Privatversicherungen erreicht 940,5 Millionen US-Dollar im Jahr 2022, verteilt auf:

• Persönliche Kfz-Versicherung: 532,7 Millionen US-Dollar
• Hausratversicherung: 367,8 Millionen US-Dollar
• Persönliche Dachversicherung: 40,0 Millionen US-Dollar

Cincinnati Financial Corporation (CINF) - Canvas Business Model: Value Propositions

Financial strength and stability to consistently pay claims is a core value proposition for Cincinnati Financial Corporation. As of September 30, 2025, total assets stood at approximately $40.6 billion. The company maintained a low total debt level of $815 million as of that date, resulting in a debt-to-capital ratio of just 5%. Furthermore, parent company cash and marketable securities totaled $5.545 billion at September 30, 2025. For long-term performance measurement, the value creation ratio for the first nine months of 2025 was 13.8%, exceeding the company's average annual target range of 10% to 13%.

The underwriting performance underpins this stability. The property casualty combined ratio for the third quarter of 2025 improved significantly to 88.2%, down from 97.4% in the third quarter of 2024. This resulted in a property & casualty underwriting income of $293 million for the third quarter of 2025.

Cincinnati Financial Corporation offers a comprehensive Property & Casualty (P&C), Life, and Excess & Surplus (E&S) product suite. The growth across these lines in the third quarter of 2025 demonstrates this breadth:

• P&C net written premiums grew 9% year over year to $2.5 billion in Q3 2025.
• The life insurance subsidiary reported net income of $28 million in Q3 2025, an increase of $8 million compared with Q3 2024.
• Term life insurance earned premiums grew 5% in the third quarter of 2025.

The performance of the major P&C segments in the third quarter of 2025 highlights the balanced portfolio:

Segment	Q3 2025 Net Written Premiums	Q3 2025 Year-over-Year Premium Growth	Q3 2025 Combined Ratio
Commercial Lines	$1.2 billion	8%	91.1%
Personal Lines	$838 million	24%	88.2%
Excess & Surplus (E&S)	Not specified	11% growth in net written premiums	89.8%

Local decision-making for responsive underwriting and claims is supported by the company's operational footprint, serving clients across 46 states. This structure is reinforced by the commitment to the agency network. For instance, 355 new agency appointments were made in the first nine months of 2025. Agencies appointed since the start of 2024 contributed $32 million, or 9%, of total new business written premiums in the third quarter of 2025.

For high-net-worth personal lines coverage, the Cincinnati Private ClientSM product line showed strong underwriting results in the third quarter of 2025. Its combined ratio was 88.2%, which was 22.1 percentage points better than the prior year period, helped by a 19.5 point decrease from lower catastrophe losses.

The long-term, stable market for independent agents' business is evidenced by the consistent growth in premiums and the company's stated goal to be a consistent market. Cincinnati Financial grew property casualty net written premiums by 9% in the third quarter of 2025. The company's 2024 non-GAAP operating income was $1.197 billion, a 26% rise over 2023. You're looking at a company that has been around since 1950, founded by independent agents.

Cincinnati Financial Corporation (CINF) - Canvas Business Model: Customer Relationships

You're looking at how Cincinnati Financial Corporation (CINF) keeps its distribution channel-the independent agents-loyal. The entire model hinges on this relationship, which is definitely not a transactional one.

Dedicated, high-touch relationship with independent agents.

Cincinnati Financial Corporation was founded by 4 independent agents, and that history shapes its current approach. The company focuses on building a deep partnership with its network of professional independent insurance agencies. This commitment is quantified by the ongoing effort to expand that network; for instance, the company reported 355 new agency appointments in the first nine months of 2025. This focus on agency recruitment is a direct investment in the relationship pipeline for future growth. Still, the focus remains on quality over sheer volume, as evidenced by the slight dip in new business premiums written by agencies, which decreased by 1% in the third quarter of 2025. The value of these established relationships is clear when you see that agencies appointed since the beginning of 2024 contributed $32 million, or 9%, of the total new business written premiums reported in the third quarter of 2025.

Here's a quick look at the agency growth metrics as of late 2025:

Metric	Period Ending Q3 2025	Period Ending Q2 2025
New Agency Appointments (YTD)	355	258 (First Six Months)
New Business Written Premiums (Q3)	Down 1%	Down 1% (Q2)
Contribution from Agencies Appointed Since Start of 2024 (Q3)	$32 million (or 9% of total new business)	$38 million (or 9% of total new business in Q2)

The pricing strategy also reflects this partnership, with commercial lines average renewal pricing increases reported in the mid-single-digit percent range in the third quarter of 2025.

Personalized, local service via field claims and underwriting staff.

You see the high-touch service model in action through the company's field staff. These teams use sophisticated underwriting tools to help the independent agents find solutions for their clients. This local presence supports the agents directly, which is a key differentiator in how Cincinnati Financial Corporation supports its distribution partners.

Responsive claims handling as a core service promise.

A core promise to the customer, delivered through the agent, is fast and fair claims handling. The company paid more than $500 million in catastrophe-related claims so far in 2025, showing claims service remains active even during high-loss periods. The operational efficiency of this process is reflected in the underwriting results; the property casualty combined ratio for the third quarter of 2025 improved to 88.2%, which was the best third-quarter result since 2015. For the current accident year before catastrophes, the combined ratio reached 85.1% in the second quarter of 2025, indicating strong underlying performance in managing claims costs.

Long-term commitment to agent success fosters loyalty.

The commitment to long-term success is evident in the company's financial stability and consistency, which reassures agents about the carrier's staying power. Cincinnati Financial Corporation has maintained its regular quarterly cash dividend payments for 53 consecutive years, with the latest declared quarterly dividend being 87 cents-per-share. Furthermore, the company sets long-term targets that align with sustained, disciplined growth, aiming for a value creation ratio of 10% to 13% over the next five years, and a GAAP combined ratio averaging between 92% and 98% over the same period. This long-term view helps agents trust the carrier's stability.

• Book value per share reached $98.76 at September 30, 2025.
• The value creation ratio for the first nine months of 2025 was 13.8%.
• The current dividend yield stands at approximately 2.27%.

Finance: draft 13-week cash view by Friday.

Cincinnati Financial Corporation (CINF) - Canvas Business Model: Channels

You're mapping out how Cincinnati Financial Corporation (CINF) gets its products to market, which is heavily reliant on its established network. This is where the rubber meets the road for their property and casualty, life, and surplus lines offerings.

Professional Independent Insurance Agencies (Exclusive Distribution)

Cincinnati Financial Corporation relies on a select network of professional independent insurance agencies to market its business, home, and auto insurance. This is the core of their distribution strategy. The company actively works to grow this network, which currently serves customers in 46 states.

The focus on agency growth is clear in their 2025 activity. For instance, in the first nine months of 2025, Cincinnati Financial Corporation appointed 355 new agencies. To put that in perspective, they appointed 258 new agencies in the first six months of 2025 alone. This growth supports their overall premium expansion; consolidated property casualty net written premiums grew 11% for the first six months of 2025, surpassing $5 billion in that period for the first time ever.

The quality of the agency relationship is measured by the business they bring in. Agencies appointed since the beginning of 2024 contributed $32 million or 9% of total new business written premiums in the third quarter of 2025. Renewal business from these agencies is also strong; agency renewal premiums for property casualty grew 16% in the second quarter of 2025. Still, new business written premiums by agencies in the second quarter of 2025 saw a slight dip of 1% year-over-year, coming in at $404 million for the property casualty segment.

The company supports this channel with dedicated personnel; at the end of 2024, Cincinnati Financial employed 2,095 field associates to support these partners.

Here's a snapshot of the agency-driven premium growth metrics for the first three quarters of 2025:

Metric	Q1 2025 Amount/Rate	Q2 2025 Amount/Rate	Q3 2025 Amount/Rate
Property Casualty New Business Written Premiums	$383 million (up 11%)	$404 million (down 1%)	$356 million (down 12%)
Agency Contribution to New Business (since Jan 2024)	$26 million or 7%	$38 million or 9%	$32 million or 9%
Commercial Lines Renewal Pricing Increase	Near the low end of the high-single-digit percent range	Mid-single-digit percent range	Mid-single-digit percent range

Cincinnati Re and Cincinnati Global Underwriting Ltd. (Reinsurance/International)

The reinsurance arms, Cincinnati Re and Cincinnati Global Underwriting Ltd., act as a channel for risk management and specialized underwriting capacity, though their direct contribution to overall premium growth can fluctuate based on market conditions and pricing discipline. In the second quarter of 2025, their combined contribution to property casualty net written premium growth was less than 1 percentage point, reflecting pricing discipline where market conditions softened. For the first quarter of 2025, the contribution was 2 percentage points to the 11% total property casualty net written premium growth.

Performance within these units shows divergence. In the second quarter of 2025, Cincinnati Re's net written premiums decreased 21%, while Cincinnati Global's premiums rose 45%, driven by product expansion. Both units demonstrated strong underwriting performance, with combined ratios below 85% in Q2 2025.

CSU Producer Resources Inc. (Brokerage for Surplus Lines)

CSU Producer Resources Inc. supports the distribution of excess and surplus lines business, which is a key area for product expansion. The company has been actively growing this segment, with excess and surplus lines net written premiums showing 12% growth in the first quarter of 2025. Management is focused on bolstering this area, noting the addition of a fifth product through CSU Producer Resources Inc. to enhance surplus lines offerings.

The pricing discipline in this channel reflects strong market conditions for specialized risk:

• Excess and surplus lines average renewal pricing increases in Q1 2025 were 26% for new business premiums written by agencies.
• Excess and surplus lines renewal pricing in Q3 2025 was in the high-single-digit percentage range.

Digital Tools and Platforms for Agent and Policyholder Support

Cincinnati Financial Corporation supports its agency advantage by integrating technology to help agents serve clients better. They are supporting agents through product expansion, such as adding capabilities to their small business platform powered by CinergySM. The overall strategy involves leveraging technology and analytics to improve underwriting expertise and drive premium growth.

The company recognizes the importance of operational technology, as difficulties with systems or data security breaches could negatively affect the ability to conduct business with agents and policyholders. The focus is on enhancing efficiency in core processes:

• Leveraging technology to enhance underwriting.
• Using data analytics for pricing precision.
• Improving claims processing efficiency.

Finance: draft 13-week cash view by Friday.

Cincinnati Financial Corporation (CINF) - Canvas Business Model: Customer Segments

You're looking at the core groups Cincinnati Financial Corporation (CINF) serves as of the third quarter of 2025. Honestly, it's a mix of local businesses and individuals, plus the global wholesale side. Here's the quick math on how those segments performed recently.

Customer Segment	Key Metric	Latest Available Value (Q3 2025 or nearest)	Context/Notes
Small to mid-sized commercial businesses	Commercial Lines Net Written Premium Growth (Q3)	5%	Growth in net written premiums for the Commercial Lines segment.
Individuals and families	Personal Lines Net Written Premium Growth (Q3)	14%	Growth rate including middle market accounts and Cincinnati Private Client.
High-net-worth individuals (Cincinnati Private ClientSM)	Inclusion in Personal Lines Growth	Reported growth within Personal Lines	Segment growth is captured within the 14% Personal Lines premium increase.
Reinsurance buyers globally (via Cincinnati Re)	Cincinnati RE Net Written Premium Change (Q3)	-2%	Decrease in net written premiums for Cincinnati RE in the third quarter.
Clients requiring excess and surplus lines coverage	E&S Net Premiums (Q1 2025)	$168 million	Net premiums in this segment were up 15% in Q1 2025.

Cincinnati Financial Corporation remains one of the nation's top 25 property casualty insurers based on net written premiums. Total consolidated property casualty net written premiums grew 9% for the third quarter of 2025.

You can see the focus on the standard lines, but the specialty and reinsurance arms are also key parts of the whole:

• Personal Lines saw a $50 million decrease in new business premiums written by agencies during Q3 2025.
• Cincinnati Global Underwriting Ltd. saw premium growth of 6% in Q3 2025.
• The combined contribution from Cincinnati Re and Cincinnati Global to Q3 2025 P&C growth was less than 1 percentage point.
• The insurer appointed 355 new agencies in the first nine months of 2025.
• The company's total assets stood at $40.6 billion as of September 30, 2025.

For the commercial segment, renewal pricing increases were noted in the mid-single-digit percent range during the third quarter. The overall book value per share hit $98.76 at the end of the third quarter of 2025.

Cincinnati Financial Corporation (CINF) - Canvas Business Model: Cost Structure

Cincinnati Financial Corporation's cost structure is heavily weighted toward claims and the operational expenses required to support its exclusive agency distribution model. Here are the latest real-life numbers reflecting these key cost drivers as of late 2025.

Loss and Loss Adjustment Expenses

• The property and casualty combined ratio for the third quarter of 2025 was 88.2%.
• The combined ratio for the first nine months of 2025 was 98.4%.
• The third-quarter 2025 combined ratio of 88.2% was the best third quarter result for Cincinnati Financial Corporation since 2015.

Catastrophe Losses

Catastrophe events are a significant, volatile cost component. The first quarter of 2025 saw a major impact:

• There was a $356 million after-tax increase in catastrophe losses recognized in the first quarter of 2025.
• This $356 million after-tax increase in Q1 2025 catastrophe losses was a primary driver in the first-quarter 2025 net loss of $90 million.
• For Q3 2025, the impact from catastrophes was much lower, at just 3.7 percentage points on the combined ratio.

Underwriting and Operating Expenses

The company manages its overhead relative to the premiums it earns. You can see the result of this management in the most recent reported expense ratio.

Expense Metric	Value (as of Q3 2025)
Expense Ratio (Q3 2025)	0.30 (or 30%)
Target Goal	Below 30%

The underwriting expense ratio for the first nine months of 2025 saw a 0.7 percentage-point decrease compared to the same period in 2024, primarily because earned premium growth outpaced the growth in various expenses.

Agent Commissions and Support Costs for the Agency Model

Maintaining the exclusive independent agency distribution channel is a core operational cost. While specific commission rates aren't public here, the investment in agency relationships is clear from growth metrics:

• Cincinnati Financial Corporation appointed 355 new agencies in the first nine months of 2025.
• New business written premiums from agencies appointed since the start of 2024 contributed $32 million, or 9% of total new business written premiums, in the third quarter of 2025.

Shareholder Dividends

Returning capital to shareholders is a stated goal, reflected in the consistent dividend policy. This is a direct cash outflow from the company's earnings.

Dividend Detail	Amount/Date
Declared Quarterly Dividend (Nov 2025)	87 cents-per-share
Payable Date	January 15, 2026
Record Date	December 22, 2025

The payout ratio based on free cash flow was reported at 19.3%, and based on adjusted earnings, it was 44.3%.

Finance: finalize the Q4 2025 expense ratio forecast by next Tuesday.

Cincinnati Financial Corporation (CINF) - Canvas Business Model: Revenue Streams

You're looking at the core ways Cincinnati Financial Corporation brings in money as of late 2025. Honestly, for a property casualty giant, it boils down to three main buckets: taking in premiums, making money on investments, and then the smaller, but still important, life and reinsurance segments.

The biggest piece, as you'd expect, comes from the insurance operations themselves. For the first nine months of 2025, the company booked $7.391 billion in earned premiums. That's the money they've officially recognized from policies sold, which is up 13% compared to the same period in 2024, showing solid growth in their core business.

The second major stream is investment income. For the first nine months of 2025, net investment income, after covering expenses, hit $860 million. This is the return they generate by investing the 'float'-the money held between premium collection and claim payment. On top of that recurring income, the third quarter of 2025 added a boost from realized gains; specifically, there was an after-tax net increase of $77 million from net investment gains recognized in Q3 2025 alone.

Here's a quick look at those key financial components for the first nine months of 2025:

Revenue Component	Amount (Nine Months Ended Sept 30, 2025)	Year-over-Year Growth (9M 2025 vs 9M 2024)
Earned premiums	$7.391 billion	13%
Net investment income (net of expenses)	$860 million	15%

Beyond the core property casualty and investment income, Cincinnati Financial Corporation diversifies its revenue through its life insurance operations and its reinsurance arms, Cincinnati Re and Cincinnati Global. These segments provide different risk profiles and income streams.

For the life insurance subsidiary, which offers products like term life insurance and fixed annuities, the performance in the third quarter of 2025 was strong. Term life insurance earned premiums grew by 5% in Q3 2025, and the subsidiary recorded a net income of $28 million for that quarter. The company continues to market these products through its network of independent agencies, alongside its main property casualty offerings.

The reinsurance segments, Cincinnati Re and Cincinnati Global Underwriting Ltd., contribute through assumed premiums. While specific nine-month premium totals for these subsidiaries aren't explicitly listed in the same format as the main earned premiums, their impact on the overall property casualty premium growth is noted. For the third quarter of 2025, the contribution to net written premium growth from Cincinnati Re and Cincinnati Global combined was less than 1 percentage point. To give you a sense of their individual dynamics from a prior quarter, Cincinnati Global saw its premiums rise by 45% in Q2 2025 due to product expansion, while Cincinnati Re's net written premiums decreased by 21% in that same period, reflecting pricing discipline.

You can see the mix of revenue sources here:

• Earned premiums: $7.391 billion for the first nine months of 2025.
• Net investment income (net of expenses): $860 million for the first nine months of 2025.
• Net investment gains (after-tax, Q3 2025): $77 million increase.
• Life insurance earned premiums (Q3 2025 term life): 5% growth.
• Life insurance subsidiary net income (Q3 2025): $28 million.
• Reinsurance contribution to Q3 2025 P&C premium growth: Less than 1 percentage point total.

Finance: draft 13-week cash view by Friday.