Clover Health Investments : March 2025 Investor Presentation
CLOV
Investor Presentation
March 2025
Our Vision
Empower Every Physician with Technology
to Identify, Manage & Treat Chronic Diseases Earlier
Earlier Diagnosis
Earlier Disease
Higher Quality
Affordable &
& Treatment
Management
Clinical Care
Accessible Care
3
A Different Approach to Empowering Accessible & Affordable Healthcare
Technology-Centric
Care Platform
Physician enablement technology,
powered by AI
Longitudinal care for highest risk via Clover Assistant powered, MD-led teams
Better Chronic
Disease Management
Better care for chronic diseases.
Demonstrated by Clover's white papers on CKD, Diabetes, and Medication Adherence(1)
Clinical outcomes improved,
reducing total cost of care,
nation-leading HEDIS measures(2)
Built for an aging population & the future of Medicare,
we enable value-based outcomes for fee-for-service physicians
www.cloverhealth.com/clinicalcare/diabetes; "Clover Assistant Use and Medication Adherence for Common Chronic Conditions"www.cloverhealth.com/clinicalcare/medadherence
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Having Supported Clinical Decision-Making for Thousands of Practitioners
Novel clinical insights at point-of-care
Enhanced care coordination
100+ AI / ML models powering treatment
recommendations
Designed to improve quality of care
Captures & synthesizes data from 100+ sources
Generating millions of clinically oriented and personalized insights
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Care Platform:
Clover Assistant is the Leader in Clinical AI
Synthesis of 100+
Insights from >100
Clinical Orientation,
Data Sources
Proprietary Models
Dynamic Actions
Millions of clinical
Robust IP and patent
Surfacing relevant clinical
documents, collected &
portfolio(1)
suggestions at time of
reconciled
encounter
Claims Data
Data Deduplication / Normalization
Early Diagnosis & Treatment
Patient-Specific Insights
PCP & Specialist Charts
& Next Steps
Enriched Clinical Data Repository
Pharmacy Data
Care Gaps:
Preventative + Chronic Care
Machine Learning (ML) Models
EHR Data
Medication Adherence
for Diagnosis Suspecting
Lab Data
Post-Discharge
Transitional Care & ADT
Evidence-Based Protocols
Encounter Mappings
Population Health Management
Empowering physicians to practice medicine using their clinical judgement
(1)
Including patents forMachine learning models for diagnosis suspectingandProspective medication fillings management, among many more that can be foundhere.
6
Care Platform:
Differentiated Home Care at Critical Moments
Clover Home Care Cohort has
Significantly Improved MCR
from 2021 to 2024(1)
Longitudinal, MD-led, primary care in the home for highest acuity population
Readmission prevention and
post-acute
Assessment visits for unknown / emerging risk
Clover Home Care
Care
Intensity
Clover Assistant Powered Network PCPs
Lower
Disease
Acuity
Higher
Disease
Acuity
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Differentiated, Tech-Centric Model Focused on Improving Clinical Care Outcomes via Software
Clover's Approach
Traditional MA Approaches
Technology
Care Strategy
Network Construct
Risk Delegation /
Capitation
Home Care
Full-Year 2024 Performance(1)
Clinical, physician enablement,
InsurTech, centered on back-office, admin
AI-Powered technology
platforms for claims processing & scheduling
Earlier disease identification & management
Delayed & reactive healthcare,
& subsequent care treatment
and/or downstream risk delegation
Wide network PPO;
Majority HMO approach;
Focused on affordability / accessibility
Narrow choice
Not focused on Risk Delegation
Large focus / reliance on Risk Delegation
Longitudinal care to most at-risk;
Outsourced one-time visits;
via CA-powered Physician-led teams
Primarily rely on nurses & nursing assistants
Industry-leading loss ratios;
Mid 80% to low 90% loss ratios
MCR: 75.1% | BER: 81.2%(2)
deck publication.
(2) Insurance Benefits expense ratio ("BER") is a non-GAAP financial measure. We calculate our Insurance BER by taking the total of Insurance net medical expenses incurred and quality improvements, and dividing that 8 total by premiums earned on a net basis, in a given period. Please refer to Non-GAAP Financial Measures provided in Appendix A in the February 27, 2025 earnings press release for a reconciliation of BER to
Insurance Net medical claims incurred, net, the most directly comparable GAAP measure.
New Revenue Opportunity: Counterpart Health Brings Clover's Care Model to More Plans & Providers
Health outcomes improved via earlier identification, management, & treatment of disease
Complementary offering to drive growth & profitability beyond Clover's core MA markets
New SaaS & Tech-EnabledServices revenue streams with low startup costs
More clinicians empowered with AI-powered proven technology
Improving Clinical Quality
Improving MCR by 1,000+ bps(1)
Focused on increasing total lives covered by Counterpart via strong product market fit with compelling pipeline
(1)
For returning Clover MA members whose PCPs use CA as compared to those whose PCPs do not.
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Our Opportunity
Clover's Next Phase: Growth
2024 Results
2025 Guidance(1)
2026 Tailwinds
Strong Performance
Balancing Growth & Profitability
Poised for Accelerated Profitability
+27% AEP growth
MA membership +30% YoY(2)
$1.37B Total Revenue, +9% YoY
Insurance Revenue $1.8B - $1.875B
$
$70M Adj. EBITDA, +$112M YoY(1)
$
Adj. EBITDA $45M - $70M
$
$82M Cash flow from operations
$
Adj. Net Income $45M - $70M
Industry-leading loss ratios
Insurance BER 87% - 88%
Positioned for strong membership growth
4.0 Star payment year(3)
Continued improvement to member cohort economics & management
Cost efficiency program impact
reasonably calculated or predicted at this time without unreasonable efforts. Clover Health's 2025 Financial Guidance constitutes forward-looking statements and is subject to the risks and uncertainties described in the Company's
February 27, 2025 press release and under Item 1A. "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC. 2025 Guidance is based on guidance provided in the Company's February 27, 2025
11
earnings press release.
Disclaimer
Clover Health Investments Corp. published this content on March 11, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 11, 2025 at 12:56:29.608.