Welcome to our dedicated page for Selectquote news (Ticker: SLQT), a resource for investors and traders seeking the latest updates and insights on Selectquote stock.
Overview
SelectQuote Inc is a technology-enabled, direct-to-consumer insurance distribution platform that revolutionizes the way consumers access insurance products. With over 25 years of industry experience, the company has refined the process of buying insurance by providing unbiased price comparisons and clear, accessible information across its offerings. By leveraging advanced technology and personalized service, it caters to individuals seeking solutions in life, auto, home, and health insurance sectors, ensuring that every client receives tailored guidance in an often complex insurance market.
Business Model and Revenue Generation
The core revenue model of SelectQuote Inc is commission-based, earning fees from insurance carrier partners whenever a policy is finalized through its platform. This model allows the company to remain impartial, as it focuses on comparing rates from highly-rated insurers rather than promoting any single provider. Its business segments are structured to address diverse consumer needs across major lines including Senior, Healthcare Services, Life, and Auto & Home insurance. The company’s straightforward, transparent approach not only offers consumers comprehensive information but also streamlines the application process through its proprietary technology.
Service Offerings and Operational Excellence
SelectQuote Inc operates through three primary lines: SelectQuote Senior, SelectQuote Life, and SelectQuote Auto & Home. Each line is dedicated to serving distinct markets, ensuring that the offerings are tailored to very specific insurance needs. The Senior line, for instance, focuses on insurance products suited to the aging population, while the Life line specializes in term life insurance with unbiased rate comparisons. The Auto & Home line similarly provides curated options in property-related insurance. The company’s operational framework emphasizes a balance between technology and human expertise, where personal agents are available to answer questions, present comprehensive details, and help clients navigate the insurance shopping process.
Technological Innovation and Customer-Centric Approach
One of the unique strengths of SelectQuote Inc is its integration of advanced technology with personalized service. The company’s breakthrough technology not only streamlines the traditionally lengthy application process but also enhances transparency in the shopping experience. By automating many aspects of rate comparisons and application submissions, clients benefit from a fluid, efficient process supported by expert personal agents. This fusion of high-tech solutions with a customer-centric philosophy has positioned SelectQuote as a trusted intermediary in the insurance sector.
Market Position and Competitive Landscape
Positioned as a direct-to-consumer platform, SelectQuote Inc has carved out a niche in the competitive insurance distribution landscape by consistently delivering unbiased comparisons and comprehensive information. Unlike traditional insurance agents who may have limited options or inherent conflicts of interest, SelectQuote provides a holistic view of the market, empowering consumers with the information needed to make informed decisions. This impartial approach, coupled with tailored service and cutting-edge technology, fortifies its market significance while addressing common challenges such as information overload and lengthy application processes.
Expertise, Transparency, and Trust
Throughout its operations, SelectQuote Inc demonstrates a strong commitment to expertise, transparency, and trustworthiness. The company’s long-standing presence in the industry and its carefully curated partnerships with well-established insurers underscore its ability to navigate complex insurance markets while remaining a neutral advisor to its clients. By clearly outlining its processes and ensuring that every step of the decision-making journey is supported by accurate, detailed information, SelectQuote reinforces its position as a reliable resource for consumers seeking clarity in a multifaceted industry.
Conclusion
In summary, SelectQuote Inc leverages technology, personalized service, and a commission-based revenue model to offer unbiased, transparent comparisons across a range of insurance products. Its diversified business segments and commitment to customer service have established it as a reputable partner in the insurance domain, continuously simplifying the buying process for consumers. This comprehensive approach not only adds value to its customers but also sets a high standard for operational excellence in the competitive insurance distribution landscape.
SelectQuote, Inc. (NYSE: SLQT) launched its new healthcare services company, Population Health, on May 3rd. This initiative enhances its Medicare Advantage and Supplement brokerage, focusing on customer education and health management through Customer Success Agents. The company has experienced strong demand for its SelectRx offering, facilitating high medication adherence among seniors. SelectQuote plans to expand its Population Health team and has recently appointed Elise Comiskey as Vice President of Healthcare Operations.
SelectQuote Inc. (NYSE:SLQT) will replace Cooper Tire & Rubber Co. (NYSE:CTB) in the S&P SmallCap 600 index, effective June 10, 2021. This change follows the acquisition of Cooper Tire by The Goodyear Tire & Rubber Co. The update reflects ongoing shifts in market indices and may influence stock performance for both companies.
SelectQuote, Inc. (NYSE: SLQT) will have CEO Tim Danker and CFO Raff Sadun participate in a virtual fireside chat at RBC’s Global Healthcare Conference on May 18, 2021, around 1:55 PM ET. They will discuss the fiscal 3rd quarter earnings and the launch of Population Health, aimed at enhancing Senior healthcare outcomes. The chat will also cover the acquisition of Express Med Pharmaceuticals, set to be branded as SelectRx. Additionally, Mr. Danker and Mr. Sadun will hold 1x1 and small group meetings with investors.
SelectQuote reported a remarkable 80% increase in consolidated revenue for Q3 FY2021, reaching $266.9 million, compared to $148.6 million in Q3 FY2020. Net income jumped to $36.5 million, up from $23.7 million, while Adjusted EBITDA rose 48% to $65.2 million. For the nine-month period, revenue surged 92% to $749.4 million, and net income increased by $66.6 million to $127.7 million. CEO Tim Danker highlighted strong growth in Medicare Advantage policies, which grew 112% year-over-year.
SelectQuote, Inc. (NYSE: SLQT) has launched Population Health, a new healthcare services initiative aimed at enhancing medication adherence, health literacy, and patient engagement among seniors. The initiative addresses gaps in healthcare literacy, with a focus on effective communication and support for medication management. SelectQuote also introduced SelectQuote Ventures to pursue strategic partnerships and acquisitions, starting with Express Med Pharmaceuticals. Key partnerships with Value-Based Primary Care providers and a transportation collaboration with Lyft are designed to improve health outcomes for seniors.
SelectQuote, Inc. (NYSE: SLQT) will release its third quarter 2021 financial results after market close on May 11, 2021. CEO Tim Danker and CFO Raff Sadun will host a conference call on the same day at 5:00 pm ET to discuss the results. SelectQuote specializes in unbiased insurance comparisons, boasting a strong agent force and proprietary technology. The company operates three key segments: SelectQuote Senior, SelectQuote Life, and SelectQuote Auto and Home, with SelectQuote Senior being the largest and fastest-growing segment due to increasing Medicare needs.
SelectQuote (NYSE: SLQT) has completed a secondary public offering of 10,600,000 shares at a price of $27.50 per share, sold by certain stockholders, including Brookside Equity Partners. SelectQuote did not receive any proceeds from this offering, which does not change the number of outstanding shares. An additional 1,590,000 shares may be purchased by underwriters within 30 days. Major financial institutions, such as Credit Suisse and Goldman Sachs, acted as bookrunners for this offering. The registration statement was effective as of March 3, 2021.
SelectQuote (NYSE: SLQT) has announced a secondary public offering of 10,600,000 shares of common stock by certain stockholders, priced at $27.50 each. The offering includes a 30-day option for underwriters to purchase an additional 1,590,000 shares. Importantly, SelectQuote will not receive any proceeds, as all shares are sold by the Selling Stockholders, which include Brookside Equity Partners LLC. The offering is scheduled to close on March 8, 2021, pending customary conditions.
SelectQuote (NYSE: SLQT) announced a proposed registered secondary public offering of 10,600,000 shares of common stock by certain stockholders. The offering is being managed by underwriters such as Credit Suisse, Goldman Sachs, and Morgan Stanley, with a 30-day option to purchase an additional 1,590,000 shares. SelectQuote will not sell any shares nor receive any proceeds from the offering, which will not affect the total number of outstanding shares. A registration statement has been filed with the SEC but is not yet effective.
SelectQuote, Inc. (NYSE: SLQT) announced that CEO Tim Danker and CFO Raff Sadun will participate in a fireside chat at Citi’s 2021 Healthcare Services Conference on February 24, 2021, starting at 3:20 PM ET. They will also engage in one-on-one and small group meetings with investors. Founded in 1985, SelectQuote specializes in unbiased insurance comparisons, aiding consumers in choosing suitable policies through skilled agents and proprietary technology. The company's primary segments include SelectQuote Senior, SelectQuote Life, and SelectQuote Auto and Home.
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