Clover Health Investments, Corp. · NASDAQ:CLOV
Clover Health Investments — 2024 Wells Fargo Healthcare Conference
21 slides from Clover Health Investments's conference presentation, September 2024
Slide 1: 2024 Wells Fargo Healthcare Conference
2024 Wells Fargo Healthcare Conference September 2024
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation include forward-looking statements, including, without limitation, statements regarding future events and Clover Health Investments, Corp.’s (“Clover Health,” “we,” “our,” or “us”) expectations regarding positive Adjusted EBITDA, Ad
Slide 3: Financial Performance
Financial Performance
Slide 4: Second Quarter 2024 Business Update
Second Quarter 2024 Business Update Meaningfully Profitable Solid Core Fundamentals First-ever GAAP Net Income as public company Profitable Insurance offering Increasing Adjusted EBITDA(1) Continued top-line revenue growth Meaningfully Improved full-year 2024 guidance(1) Industry-leading loss ratios
Slide 5: Financial Performance Demonstrating the Strength of Clover Health's Model
Financial Performance Demonstrating the Strength of Clover Health’s Model Insurance Revenue(1)(2) Insurance Gross Profit(1)(2) Adjusted EBITDA(3) (1)(2) Clover leads with superior Medicare Advantage performance and strong balance sheet amidst dynamic industry backdrop (1) 2024 Guidance is based on g
Slide 6: Differentiated Approach
Differentiated Approach
Slide 7: Clover Health's Three Pillar Strategy
Clover Health’s Three Pillar Strategy Better Chronic Disease Differentiated Physician Management Care Platform Choice Exclusively focused on Physician enablement Members select doctor of Medicare Advantage technology, powered by AI their choice Can enable value based Clinical outcomes improved Home-
Slide 8: Focused on Usability and Intuitive, Elegant User Interface
Focused on Usability and Intuitive, Elegant User Interface Elegant, easy-to-use software platform Designed by doctors, for doctors EHR integrated, fits well in clinical workflow Empowering physicians to practice medicine using their clinical judgement 8
Slide 9: Having Supported Clinical Decision-Making for Thousands of Practitioners
Having Supported Clinical Decision-Making for Thousands of Practitioners Captures & synthesizes Novel clinical insights data from 100+ sources at point-of-care Enhanced care coordination 100+ AI / ML models powering treatment Generating millions of recommendations clinically oriented and personalize
Slide 10: Unique Asset-Light Care Management Platform Enables a Wide Network Approach
Unique Asset-Light Care Management Platform Enables a Wide Network Approach Clover Assistant Clover Home Care Manages Low-to-High Disease Burden Manages High Disease Burden Clover Health MA Plan: Cloud-Based, AI-Powered Platform In-Home, High-Touch Primary Care Aggregates & synthesizes disparate Ful
Slide 11: Technology-Driven Flywheel Powering Clover's Growth Model
Technology-Driven Flywheel Powering Clover’s Growth Model Improved Clinical Decision Making Strong Benefit Offering and and Lower Total Cost of Care 5 1 High-Choice Plan Design + CA Platform Innovation Cadence More Physicians Use Product Strength Drives 4 2 Technology Platform Membership Growth 3 Ph
Slide 12: Differentiated Model Focused on Improving Clinical Care Outcomes via Software
Differentiated Model Focused on Improving Clinical Care Outcomes via Software Other Tech-Enabled Traditional MA Plan Clover’s Tech-Centric Model Approaches Approaches Managed Care Payer; Not a Payer; Managed Care Payer; Structure Medicare Advantage focus Provider, practice, health system partner Med
Slide 13: Counterpart Health
Counterpart Health
Slide 14: Counterpart Health's Compelling Value Proposition
Counterpart Health’s Compelling Value Proposition: Bring Clover’s Care Model to Other Plans & Providers For External Payors & Providers For Clover Health Cloud-based, AI-powered technology & support Deploy existing technology asset for growth & platform already built with proven results profitabilit
Slide 15: CA Technology Driving Value Creation
CA Technology Driving Value Creation Proven Clinical Improved Value Based Key Quality Measure Outcome Improvement(1) Care Performance Improvements(2) CA use associated with: Members who had a CA visit are: 1,000+ bps of MCR Differential Earlier diagnosis & treatment of for returning Clover MA member
Slide 16: Tech-Driven Approach Powering Business Momentum
Tech-Driven Approach Powering Business Momentum Delivered strong 1H24 financial results & improved 2024 guidance(1) Solid core business fundamentals & healthy balance sheet Proprietary clinical, physician-focused technology platform, powered by artificial intelligence (AI) Proven CA technology avail
Slide 17: Appendix
Appendix
Slide 18: Meeting Consumer Preference Positions Clover for Long Term Growth in Medicare Advantage
Meeting Consumer Preference Positions Clover for Long Term Growth in Medicare Advantage National Market Data Confirms that Why is this Important? Consumers Prefer PPO Plans(1) HMO: People who are happy to let an insurance plan select their doctor PPO: People who prefer to select their own doctor (1)
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures CLOVER HEALTH INVESTMENTS, CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INSURANCE BENEFITS EXPENSE RATIO, NET (NON-GAAP) RECONCILIATION (in thousands)(1) (1) The table above includes non-GAAP measures. Non-GAAP financial measures are supplemental and should not be
Slide 20: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) CLOVER HEALTH INVESTMENTS, CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED EBITDA (NON-GAAP) RECONCILIATION (in thousands)(1) (1) The table above includes non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered
Slide 21: About Non-GAAP Financial Measures
About Non-GAAP Financial Measures We use non-GAAP measures in this presentation, including Adjusted EBITDA, Adjusted SG&A, and Insurance BER. These non-GAAP financial measures are provided to enhance the reader’s understanding of Clover Health’s past financial performance and our prospects for the f
Clover Health Investments — 2024 Wells Fargo Healthcare Conference on 6ix