SelectQuote, Inc. has recently released its 10-K report, providing a detailed insight into its business operations and financial performance. The company operates a technology-enabled, direct-to-consumer distribution and engagement platform that sells insurance policies and healthcare services in the United States. SelectQuote operates through three segments: Senior, Healthcare Services, and Life, offering a range of insurance products and healthcare solutions.
In the 10-K report, SelectQuote discusses its business overview and strategic shift towards expanding its healthcare services platform, focusing on higher-growth opportunities in areas such as pharmacy services and chronic care management. The company's proprietary technology platform integrates artificial intelligence and data science-based machine learning models to analyze and identify high-quality consumer leads from diverse online and offline channels. SelectQuote emphasizes maximizing commissions collected over the life of an approved policy, referred to as "lifetime value of commissions" (LTV), as a key component of its overall profitability.
The report also delves into the company's evaluation of its business using three reportable segments: Senior, Healthcare Services, and Life. SelectQuote highlights industry trends, estimating the total addressable market for the insurance products it distributes to be greater than $200 billion, with a focus on serving consumers predominantly in the over 65 age category.
Furthermore, the report discusses factors affecting the company's results of operations, such as its primary sources of revenue from commissions and revenue from pharmacy operations, as well as key business and operating metrics by segment. For instance, in the Senior segment, submitted policies and approved policies are key metrics used to evaluate performance.
As a result of these announcements, the company's shares have moved 4.44% on the market, and are now trading at a price of $2.705. Check out the company's full 10-K submission here.
