Clover Health Investments (CLOV) investor relations material

Vision and strategy

• Focuses on empowering physicians with AI-powered technology for earlier identification and management of chronic diseases, aiming for proactive rather than reactive care.

• Five pillars differentiate the model: technology, care strategy, in-home care, risk retention, and a broad PPO network.

• Technology is clinically focused, leveraging over 100 data sources and AI models to deliver individualized insights at the point of care.

• Retains full risk on economics, unlike peers who delegate risk, enabling full upside as cohorts mature.

• Maintains a 98% PPO network, offering broad access and flexibility for members.

Technology deployment and clinical outcomes

• Two-thirds of members receive at least one visit from a clinician using the proprietary AI platform annually.

• In-home care program enrollment grew 84% year-over-year, outpacing overall membership growth.

• Earlier disease identification leads to earlier interventions, such as CKD diagnosed 18 months sooner and diabetes treatment starting 36 months earlier.

• Intensive management of the 10% of members driving 60% of costs through longitudinal in-home care.

• Technology deployment at scale is seen as a key driver of both clinical and financial outcomes.

Growth, economics, and market position

• Membership doubled in two years, with New Jersey market share rising from 20% to 31%, now leading non-special needs Medicare Advantage plans in the state.

• Retention exceeds 95%, supported by stable or improved benefits and minimal reliance on e-brokers.

• Growth strategy leverages cohort maturation, with nearly half of members in early years expected to drive significant profitability as they mature.

• Achieved 40% CAGR in membership over two years, sustained adjusted EBITDA profitability, and improved operating leverage by 500 basis points.

• Guiding to first full year of GAAP net income profitability in 2026, with continued focus on reinvestment and clinical engagement.