LendingTree for insurance

Kayak for insurance

• Senior Insurance: Connects seniors with Medicare Advantage, Medicare Supplement, and Prescription Drug Plans from various carriers.
• Life Insurance: Offers term life and whole life insurance policies to individuals and families from a diverse panel of insurance providers.
• Auto & Home Insurance: Provides quotes and policies for automobile and homeowners' insurance through multiple carriers.

SelectQuote (SLQT) primarily sells to **individuals**, acting as a direct-to-consumer insurance broker. It connects individual consumers with various insurance carriers.

The company serves the following categories of individual customers:

1. Seniors: This category includes individuals eligible for Medicare who are seeking Medicare Advantage, Medicare Supplement, or Prescription Drug Plans.

2. Life Insurance Seekers: This category comprises individuals looking for term life or whole life insurance policies to protect their families and assets.

3. Auto & Home Insurance Seekers: This category consists of individuals looking for property and casualty insurance products, such as auto insurance and homeowners or renters insurance.

• UnitedHealth Group (UNH)
• Humana Inc. (HUM)
• CVS Health Corporation (CVS)
• Elevance Health Inc. (ELV)
• Centene Corporation (CNC)

Timothy "Tim" Danker, Chief Executive Officer

Timothy "Tim" Danker has served as CEO of SelectQuote since 2017. He co-founded and served as Chief Executive Officer of Spring Venture Group, a direct-to-consumer insurance brokerage, from 2007 to 2012, before joining SelectQuote in 2010. Prior to his CEO role, he held various leadership positions within SelectQuote, including President of the Life division (2016-2019), Executive Vice President of the Life division (2015-2016), and President of the Auto & Home division (2012-2015). Danker has also held leadership roles at companies such as Cerner and Sprint.

Ryan Clement, Chief Financial Officer

Ryan Clement joined SelectQuote in January 2022 and was appointed Chief Financial Officer in February 2023, after serving as Interim CFO since May 2022. Before joining SelectQuote, he served as the Chief Financial Officer of Sifted (formerly VeriShip), a SaaS-based logistics software company. Clement also spent seven years at Edelman Financial Engines, a registered investment advisory firm, where he held various senior finance and operational roles. His career also includes roles at The Mutual Fund Store and Freightquote.com, Inc.

William "Bill" Grant III, Chief Operating Officer

William "Bill" Grant III has served as the Chief Operating Officer of SelectQuote since 2019. His previous roles at the company include Chief Marketing Officer and President of the Senior division from 2017 to 2019, and Senior Vice President of Marketing for the Senior division for five years prior to that.

Trevor Nohe, Chief Business Officer

Trevor Nohe has served as the Chief Business Officer at SelectQuote since 2022. Before joining SelectQuote in 2020, he was the CEO of Inside Response for five years and also served as CEO of Inside Academics. His background also includes experience as a management consultant for Deloitte Consulting and as a private equity investor at Five Elms Capital.

Daniel "Al" Boulware, General Counsel and Secretary

Daniel "Al" Boulware has served as SelectQuote's General Counsel and Secretary since 2019. Previously, he was the Vice President and General Counsel for SS&C Health, the healthcare segment of SS&C Technologies Holdings, Inc. He also worked as a Shareholder and an associate at Polsinelli, P.C.

Intensifying competition from insurance carriers directly investing in their own robust digital direct-to-consumer sales channels.

Evolving and stricter regulatory requirements for insurance sales, particularly within the Medicare market.

SelectQuote (SLQT) operates in several large addressable markets within the U.S. for its main products and services:

• The total addressable market for the insurance products SelectQuote distributes is estimated to be greater than $180 billion in the U.S.
• For healthcare services provided by its Population Health segment, the total addressable market in the U.S. is in excess of $1 trillion.
• The Senior segment, which focuses on products for Medicare beneficiaries, presents an annual commission revenue opportunity of approximately $30 billion in the U.S.
• The Life segment addresses a market with an annual commission revenue opportunity of approximately $105 billion in the U.S.
• The Auto & Home segments target markets with an estimated annual commission revenue opportunity of approximately $47 billion in the U.S.
• Within Population Health, the U.S. Pharmaceutical total addressable market is over $500 billion.

SelectQuote (SLQT) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:

1. Growth in Healthcare Services and SelectRx: The company expects significant growth from its Healthcare Services segment, particularly through its SelectRx program. This program has shown success in improving medication adherence and reducing hospital days, contributing to strong revenue growth and membership increases. Despite some near-term challenges with drug reimbursement rates, SelectQuote remains confident in the long-term economics and expansion of this business.
2. Expansion in the Life Insurance Business: SelectQuote's life insurance segment, encompassing term life and final expense policies, has consistently demonstrated revenue growth. The company continues to be pleased with the performance of this business, indicating it as a contributor to overall revenue expansion.
3. Improved Agent Productivity and Efficiency via Technology and AI: SelectQuote is focused on leveraging technological advancements and artificial intelligence to enhance agent efficiency, reduce variable costs, and accelerate customer acquisition. This includes routing a significant number of calls through automation and powering healthcare services interactions with AI, which has led to reductions in agent enrollment time and health assessment time.
4. Strategic Market Expansions and Product Diversification: The company aims to expand into underserved geographic markets and demographic segments. Furthermore, SelectQuote is diversifying its product offerings beyond traditional insurance into areas such as pharmacy, telehealth, and patient management to meet evolving consumer needs and capture new revenue streams.
5. Sustained Performance in the Senior Segment (Medicare Advantage): While the senior segment experienced a decline in revenue in Q1 Fiscal Year 2026 due to changes in beneficiary eligibility requirements, SelectQuote has historically delivered robust results during the Annual Enrollment Period (AEP) with strong agent productivity and high close rates. The company continues to manage this segment to drive increasing cash flow and anticipates strong performance in upcoming enrollment seasons, leveraging its Medicare Advantage engine for growth when market conditions are favorable.

Share Repurchases

• SelectQuote did not repurchase any common stock during the fiscal year ended June 30, 2021.

Share Issuance

• In May 2020, SelectQuote completed its initial public offering (IPO), issuing 18,000,000 shares of common stock at $20.00 per share, raising approximately $360 million.
• In March 2021, selling stockholders conducted a secondary public offering of 10,600,000 shares at $27.50 per share, from which SelectQuote itself did not sell any shares or receive proceeds.
• The number of shares issued and outstanding increased from approximately 163.65 million as of August 2021 to around 175.95 million as of September 2025.

Inbound Investments

• In February/March 2025, SelectQuote closed a $350 million strategic investment from funds managed by Bain Capital, Morgan Stanley Private Credit, and Newlight Partners.
• The proceeds from this investment were intended to recapitalize the balance sheet, lower debt service, provide liquidity, and fund growth initiatives, with $260 million used to pay down an outstanding term loan.
• In October 2024, the company completed a $100 million Medicare Advantage commissions receivable securitization to improve capital flexibility and reduce its cost of capital.

Outbound Investments

• Information regarding significant outbound strategic investments or acquisitions by SelectQuote in other companies was not readily available within the provided search results for the specified period.

Capital Expenditures

• Capital expenditures were reported as $25 million for fiscal year 2022, $9.13 million for fiscal year 2023, and $11 million for fiscal year 2024.
• The company planned to use a portion of its IPO proceeds (May 2020) for capital expenditures, working capital, and general corporate purposes.