GOCO - Earnings call transcript Q3 2024

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Operator

Good morning, and welcome to GoHealth's Third Quarter 2024 Earnings Conference Call. My name is Hope, and I will be your operator for today's call. [Operator Instructions] As a reminder, this conference is being recorded. I will now turn the call over to John Shave, Vice President of Investor Relations. John, you may begin.

John Shave

morning. good and you, Thank Welcome to Call. XXXX Third Quarter Earnings GoHealth's

based to Executive Vijay Brendan factors the future conference ability Joining results expectations. to statements anticipated cause are the from projected uncertainties Chief risks call our predict. Officer; are and results or company's Numerous forward-looking differ Today's me today of actual Officer. determine in Kotte, beyond these and that may control Many current will Financial Shanahan, contains those materially on or Chief statements.

You the XXXX. our place Earlier these otherwise. information, undue for results revise to statements, should new reliance not quarter or containing of on company update today, the third forward-looking we any statements, any obligation to events and whether issued due undertakes of a no future release or press

to factors our forward-looking We other you encourage the release on the Relations risk Securities with XX-K and In the under the listed additional described consider release, annual website should XXXX and factors in statements. tab. GoHealth report the information. several have you posted have with in filings we Commission press that the our Investor our for Form We on consider Exchange conjunction risk

press These will certain be the During directly this call, we reconciled non-GAAP measures financial to GAAP measure release. discussing set and in are forth measures. financial are comparable most the the reconciliations

Relations section the discussed GoHealth's call. most website results refer the the over during now posted our to the Investor of Vijay also will Kotte. turn quarterly may Investor reconciliations presentation I this You measures CEO, measures to of Relations for GAAP comparable to call non-GAAP to

Vijay Kotte

you, and Thank good everyone. John, morning,

XX and Brendan invaluable with profitable as am the financial be thank Brendan opportunities Medicare Shanahan we passion mergers will navigate health O'Halloran continue leadership would welcome tremendous Chief new With his her to during as acquisitions to more Chief our like Advantage be as for pursue capitalize than over care Financial to finance options, I leadership Katie pleased in Accounting this Her joins Officer. team time background of remain our her and their leader the continuing crucial space. asset years interim confident His including a extensive has and growth. Officer. as CFO. consumers operational also will on expertise experience, I'm in to dedication transition. been Katie strategy financial XX and we for execute Brendan us the helping key as years serve leadership strategy, organization, to ahead. will our that in I First, a throughout

team. Medicare and U.S., story, million to overwhelming Medicare For Advantage landscape plans. often in an those XX is peace uncertainty. provide of Medicare new There marked to whom and consumers enrolled about mind are the Many number support, to over consumers clarity of half in ultimately mission confusion GoHealth a know face available. our and who a by the are objective of deters At eligibles live as in to experienced we third exploring proprietary better technological complexity or not and they begin. as consumers to these agent eligibles options of options from in to with individuals GoHealth, This XX Medicare with or plans tools more highly often may empower counties trust where trained one aim

focusing unique reinforcing deliver in Medicare approach our to us traditional our this shift consumers. We on to a with relationships believe long-term, company more a integrated We enrollment company, from Medicare evolved have landscape. role to the care, high-quality and building Medicare a engagement personalized allows

continued internal strong improvements team Turning to cost and captive performance and from quarter operational our efficiency solid progress, report by third in to effectiveness. pleased results. our I'm driven

adequately to our focused the quarter this our further we for prepared and strengthening expected value Insurance Medicare the Notably, their e-TeleQuote enrollment disruptive period. we delivering completed consumers are annual through were options platform. and acquisition, dynamic ensuring guiding on efforts stakeholders Our while

refinanced the positioning reinforcing for also financial end, Following in quarter's new stability lenders loan a confidence growth. and us our we GoHealth's sustained term credit and with X-year term, facility

X-year experiences consumer Overall, new term management the their fully will the submissions in and our resulted process. on plans their Leveraging continue going met to in on that business needs. of CheckUp. and this ability over peace focus optimization internal support to investment importantly, navigating In forward. QX, supporting captive More of nearly allows workflow mind through added we just choices Medicare Encompass the with to team PlanFit Brendan through ensuring XX,XXX by our further current their consumers details provide XXX,XXX the XXX,XXX consumers shortly. the this this under

given have challenges, and XX%, GoPartner pressures internal performance contribute our agent period EBITDA. dynamics Despite submissions special previously tools. onboarding since has and meaningfully GPS submissions during submissions of to market broader stable or agencies with highlighting GPS, the The our switching the our these of partners. reflecting enrollment and expect particularly in actively team revenue several our strength we last by the will AEP. declined AEP. training effectiveness QX been increasing XX%, broker from internal especially captive contrast, submissions Solutions Our submissions, external new the our Overall exceeded discussed been impacting expectations, that X% terms up shopping In evident of during our we were channel, by adjusted year-over-year

a reduced accretive the been PlanFit to proprietary base process. positioning stagnant Medicare our about that its is new trends capacity plan As million cost significantly we delivering choice.Â By are our plan ensure benefits we These about strategic for new completed I broker but enhancing of looking than of outcome, XXXX, and purchase better reduced allowing offers our has our million demand the continued and to X this new their launch, tools customer for market e-TeleQuote, operating of targeted across the and company with e-TeleQuote further on capacity lost costs, cost while anticipated, greater CheckUp e-TeleQuote QX, owner reach or submission in believe comes any alongside meet opportunities. successful XXXX. is X improvements GoHealth initial us With and market coverage. ownership, focus hiring, competition drive introduced believe assets as on improvements an efficient checkup of maintaining Health without driving for show optimistic to compensating with better implementation growth that and is led the shopping acquired options, The through acquisition the guidance cash of memberships efficiency million closing. A efforts. e-TeleQuote in continues and us GPS gain September program. of agents GPS beyond.Â We and find direct are per significant become our continued initiative engagement due been over regardless AI-driven informing key both and success unique operational the our growth sole effectiveness This to capabilities. coverage new has enhances CheckUp anticipated e-TeleQuote available thus secure significant quarters our income, $XX.X health the right have million QX these Medicare continuous for to possible lowered our of investment, a immediate it risk experience our closed creating customer without brought opportunity first individuals are net of to quarters. has optimizing plan address and into inclusive are is the agents in interest their more of and GoHealth's through cash with and PlanFit benefit continue will a CheckUp a have via X positioned we to consumers a to is paid quality, improvement partners.Â Since the seeing from model consumers. and momentum the plan shopping cornerstone disruption. performance our consumers. financial operational agent industry, This and outcomes: we typical acquisition PlanFit been CheckUp, $X to Advantage driving will We we acquisition further PlanFit assets substantial our have shifts transaction in remarks. dynamics leverage coming the transaction PlanFit both significantly the reassuring our e-TeleQuote all anticipate largely out from aimed significantly the also previous diseconomies at this XX.X% two, Integrating integrate our and us market for our the this The market the customer the opportunities Powered driving in dynamics, Encompass AEP allow for These time, favorable critical as perceived and tool, behavior later strengthening in scale. increase our and enrolling we $X agent in and The plans assumed. at rollout in well independence three, shopping $XX.X on consumers to unfolding enhanced our increased PlanFit QX on prepared sheet, positioned licensed balance the roll our strategic workflow differentiation continue disruption benefits. experience. GoHealth them contract in at during plan; this retaining to value of e-TeleQuote this assets, we market of million inclusive which need this million positive AEP to XX.X% in making and owner fair Save, Medicare program, emphasis which to sustained reduced exceeded XXth. also e-TeleQuote development each seize the the Through AEP with and stake marketing well by quarter our initiative initial X Advantage of liabilities plan health for shopping on marketing help the Building as option; success seeing high approximately capacity is adds we my to of bargain we during agents investment. this existing channels. GoHealth XXX one, $XX.X effectively, to acquired of expanding more significant and the PlanFit fold, of fair consumer capture million transformation relinquishing was GoHealth most the move current strong benefits, a believe into XXXX having delivering value confident expanded smooth, addition The nearly reinforcing us a consumers our leadership demand a best within the will benefiting acquisition our operations or operate into

consumers We remain our committed what enhancing we deliver regardless for with benefit growing market our our the the for for benefit AI, automation planned we versus per scenarios future be we will cost XXXX tools. benefit on smaller the remain value Given the a PlanFit expected both and more to year and appropriate PlanFit XXXX target reducing the of operating population health expect expand beyond. switching, focused for plan PlanFit plan dynamics year the direct dynamics we XXXX partnerships submission plans through and Save, year.Â As to Save justified and

consumer to of expect enhancing We some business, to improvements, have efficiency.Â As describe support agency scale technology these efficiency continued this which our relationships. Advancing cost agent substantial and drive will and detail ongoing combining reductions strong service in experiences, while is we marketing value also higher savings strategies by already our you I deeper from a material central effort profile further multiyear lifetime improving achieved profit to consumer will quality. with

streamlined reduction. average We minutes, from cutting XX times XX% XX a have to processes, call

agent Additionally, onboarding time reduce XX%. we have deployed by AI to

eligibility, special Further introduction allowing of quicker include tool and it are AI-driven condition boosting retention optimization, efficiency extensive we an driving personalized details, productivity PlanGPT, to easier plan chronic for needs sales. increasing verify for enhancements the more while and to support. With access agents making for comparisons and plan accurate

financial innovations continue drug strong a to service outcomes quality, shown proprietary drug consumers.Â These has results. positioning platform it anticipated making simplicity XX%, with automatic and tool significant over will our believe are implementing precision to by time AEP our improving and enhancements, detail And for during via by further and lead ahead, lookup in in against to in are well that, we prescription runway GoHealth and proprietary deliver developing technology Brendan to growth. speed, lookup and for and solutions our turn both approximately multiyear providing financial our built-for-purpose positioned our convenience sustained Additionally, reduction we space.Â With improvements competitors I extending agents

Brendan Shanahan

eager rapidly, during exciting thrilled believe time join to and I The to Vijay. value landscape commitment I company. GoHealth's us exceptionally Medicare with already on for its strategic such work GoHealth entire team on GoHealth combined foundation am am the long-term I clarity that sustainable to ensuring growth. Thank driving delivering for consumers, value a to deliver you, we alongside innovation, our and well and established, been evolving to is stakeholders. an Vijay has sturdy to positions build the our priorities, focus

marketing enhanced agent submissions training, growth the to Now GoHealth This technology on was address broader same Healthcare their assess going to to earlier to pressures.Â I annual and compared led would quarter which more and than swiftly, on let enrollment channel, quarter the financial enroll ongoing our a Change teams achieved reduction million in prior of faced period, saw rely our cyberattack XX% efforts. from and in me increase our outage $XX.X traditional a Internal slight the mitigated incident revenue over offset million this We to results. $XXX agency the technology EBITDA and $X.X enrollment earnings expect last XXXX, and impact third Change targeted million.Â Our work quarter more and this performance.Â Our be $XXX.X eligibility this during a GPS GoHealth's efforts, the contracts decline like ability subsequent financial submissions impact this by $X.X for net to results.Â In Medicaid million by market year-over-year Healthcare to more year of its consumers. third turn materially improved issue to our to XX% year. to period captive disrupted revenues continue thanks $XXX,XXX negative compared to submissions in situation some involving adapted we continues our despite into to of Though the forward. to shifting going adjusted mitigate year. decrease million, of diligently was This a

down, our the we from were progress These we targeted through operating stem a efficiencies revenues in cost our cost-saving our proprietary by gained considerable submission the have While XX%, and marketing per investments testament implemented. direct made savings to operational in reducing initiatives strategies operations operations the a $XX.X million operating of in technology XXXX model.Â Third cash million, flow and of increase from updated flow or $XX.X had quarter positive trailing $X.X cash an months negative XX of year the from million to period. TTM TTM compared prior

are market.Â Last strategically with of dynamics, Our with in use aligned more we conditions, year, market paying debt the of as us the opportunities we This cash different the of year, prudent is million our XXXX $XX led during challenging identify down most a use favorable prioritize which anticipated market taking approach. we to cash.

has We completed and the circumstances. environment.Â As acquisition the Vijay under are believe seize growth of ahead, current we covered, already opportunities we see deploying cash in e-TeleQuote maximize to to which unique position capitalize significant the outsized potential us on the will we

e-TeleQuote control transfer without obtained consideration. of the any ultimate company of the Specifically,

case including confidence interest in loan demonstrates a improved plus million and loan point XX maturing On acquisition company investing facility bargain this reduction gain of new growth. which the a This on the the reflects recognized of November the gain of fair of we operations. XXXX stability provide of term statement the of The acquisition the refinancing positions the purchase features condensed consolidated quarter the innovation. end, context, our consideration transferred, an upon credit XXXX of approximately and in in value e-TeleQuote's through revolver.Â This current the gain loans facility. with term the refinancing million. term long-term gain value our rate was extends termination basis in the is X.X% difference to maturity $XX.X between growth initiatives purchase and date, SOFR of financial the refinancing line completed at $XXX fair recorded we GoHealth's To in net for terms, financial date the our in This GoHealth's positions assets continue X. After on additional this and company bargain

pleased from in are in offering market's strong maturity also our this model business health. demand trust GoHealth's our outcome We not signals refinancing, the our but extends financial operational underscores this investors and only which of confidence The term loans, capabilities. of with the for financial the and renewed

of on us With the business extended maturities, integration time. cost with to unique the our during the e-TeleQuote believe and like we can navigate and PlanFit remain Save strategic laser-focused paired positions on the focus this current rollout growing our environment. of well initiatives incredibly opportune We control,

submissions, PlanFit enhancements us tools bolstered operational market boost e-TeleQuote evolving to to of to the Encompass expect the anticipate capacity investments from the strong and high agents our a AEP licensed our that available revenue decline our return flow This We year-over-year we adjusted cash confident and up the from on set demand, workflow, from revenue EBITDA. success. have due non-agency cash into in are and marketing. which of and dynamics investment shift driving away We operations addition are for

conservatism but values, only or disciplined solid Our our not calculating ensures LTVs, growth. foundation managed. for This that a remain and future approach lifetime our in sets risk projections also strategy, current underpins sustainable

conservative underappreciated focus to industry success, an long-term us to while a believe of one on strength team. key it join value and delivering navigate the strategy to GoHealth is eager data-driven of us for GoHealth stakeholders. positions reasons challenges the commitment DJ Our I allowing uniquely this I and maintaining to was our

sustained capitalize to favorable market on believe opportunities to I for quarters for you confident the remain maintaining to forward, Thank performance technology us our We demand initiatives strongly of driving and our GoHealth remarks. first discipline. your to now turn the today that continue positioning for we in for dynamics for move unique remainder and the as XXXX financial throughout hard leverage of work advancements our to highly closing call while outlook the investors X we back support. As and XXXX, analysts success. their all we persist will will strategic continued team our growth Vijay

Vijay Kotte

direct Thank you, we to up generally success is be for everyone Through we in that submission, industry. expected, believe outsized focus developing an the GoHealth, within operating and Brendan, strategic sustained efficiency and is today. foundation it per enrollment built market-leading positions technology, initiatives. as thank annual on multiyear our a us cost This to investments us our we solid by operational uniquely in set and reductions you driven have joining period

unique Our CheckUp and position as with long-term along PlanFit us growth. and solutions Save, innovative and such sustained commercial well PlanFit structures, for empower strategic consumers

As committed to exceptional the consumers, changes and landscape. we we to regulatory seamlessly adapting relationships look to providing lasting Medicare ahead, remain service building in

our our We to team, market a continue I'm approach that consumers. dedication the with are work our outpace incoming the lasting to administration significantly delivering XXXX new to eager be year. competition, confident creating forward will and Thank continued out to continue of look and we support, value the you collaboratively to strategic progress leader I sharing our the enter and we close for as value your our With stakeholders. and for

ready questions. to now are We take your

Operator

Pat NOBLE Our [Operator McCann first question Capital Markets. comes instructions] from with

Patrick McCann

regarding acquisition. my quarter. first I I just Congrats on the guess, -- the would question have be

like process Were those in we course, them? we're Were go e-TeleQuote any now. training the agents heading the surprises were from new strong process? ready how just -- feel know into And did wondering went with AEP? you in with that new I'm Of they a there we're for to or agents, season

Vijay Kotte

would I out appreciate Thank you, question. I with Pat. this. start the

The in about come the First has point. and are focused starting excited skilled, that's been so right doing and seasoned, we the right very thing, They foremost, e-TeleQuote. amazing. on team

to with when relationship our commercial in gave way where into we're so that, also team and us we had we technology. the entered we that September the very transaction, in And started into the thoughtful a that time onboard

within enables PlanFit that and is that a consistency very the our our that, to automation built productive. As you of be real know, tools, unlock agents tools, marketplace capacity

September of far how help we've it, that And we prepared spend of we that's they So were the performance. were the could that we said and them half accretive our already. on making sure so it's time and effectively early able in understand trained for second and parts to about optimize as how very prepared that to their October, comments, been worked been excited it

fully again piece that valuable very stress And helping So in that that. think just the the with the of with and and team we onboarding. the about of consumers, protecting and and the excited probably was quality we're and agents came it leadership the would I that about was along integration way most line that there

Patrick McCann

Brendan Great. ask position. to And then Maybe way, congrats, the I on Brendan, by sheet. balance just for and one your wanted about the

to we that, market further your debt and, be was total growth invest you going a what refinance with talked But go using as that in. down as just strong one the target in additional the then business So about of be plans look reduce the we're wondering, paydowns if course, of amount of dynamics do along given ratio And the would capital would as I as what the debt-to-EBITDA line, you there? have forward? to far maybe the we

Vijay Kotte

dynamics I we he stated to the actually that. see or capacity do start Yes. earlier right? comments, the over as turn then such of and use the you with would there more capital, more to I'll If best Thanks, market is, opportunities be are consumers, should Pat. more in that in then I'll we investing should you looking at Brendan. are start it What help always

obviously, there's a of capital. really you pay better being don't then at stare see the you what's the because a -- if dynamics of down that best use cost you and that If debt positive capital, see you

on optimizing the looking we're such ensure capital a return in always the you're to at outcomes. way invested So that

optimization. bit Brendan I'll that, overall balance we're let how about thinking our with sheet talk little about a So

Brendan Shanahan

it said, be then now base health situation deploy over appropriately. with to and debt forward. with is Thanks, at who we'll And new right, place to a Vijay, really Right to put pay that's in and GoHealth. lenders. a going thanks, the we we the excited our the market insurance But new out Pat, them welcoming good work here for us from marketing cash and evaluate going team. excited figure time, place to to Vijay look with increase efforts consumer into as me our I'm to buys best for MA. as for us so and the down have is -- We're what term that we're forward. through the timing will that we X-year And

Vijay Kotte

have Yes. the again, And good to any either the be ticking to as us so having capacity in that I in think investment the even flexibility us maybe acquisitions other one much that's there to runway allows marketplace. X-year just have thing those opposed make can highlight says may We potential decisions or to is retain the giving pay deadline as flexibility technology, you to down.

Operator

Our with next question comes from RBC Ben Hendrix Markets. Capital

Benjamin Hendrix

there. agent was looks you were It we submissions had more internal ahead submissions the our that received. strong captive you expectations. growth if bit can talk I about little like a Total really wondering of

wanted get of first down that that Or GPS of that that that turn Just plans there your are comments what side. in was on momentum. side, It is the kind of agent recovery? to around? then focus a sustainability much on the little how efforts are looks is place If bit. like to kind a the that And internal piece, your on of flip

Vijay Kotte

joining I question. call, and I appreciate appreciate you the Ben. Thanks, the

commitment what internal First the thank we have performance. their for used to agents. support and as to to them can't enough way I foremost, optimize their data our

teams So consumers. they they have been serve how that this lockstep optimize our want with and redesign product to technology in for build to purpose

we to the go integrate having different of instead tools. So into how do X to that websites,

serve help has pulling we've is on know more get who to through able focus of to to consumer, our when on tool So making tools out that support.Â So marketing for need better in be the and in to before seek serve consumers who data performance that, that and probability continue coming and yields listening to the allow believe and interactions that always is our the if more appropriate, data That's happen And that answers, the set. AI in to make improvement with them those that higher refine automations no more efficiency internal what have XX% and what's if as the and help is well learning it focus build tools what and place automation better a to that year-over-year answering having That we time confidence. will able to more the come reason that specifically And building more in of you the you keep opposed better. targeting of as and they believe outcome have marketing targeted saw a way that being and efficient need identifying maintain add that more deliver. even comes as interaction going And to them, that consumer capacity step more improve can't the enabled off captive not consumers likely that it continue. a time agents. the more of and is function to tool and very capacity. therefore, available million of matching we to off XX them to they're more to questions AI There's through coming to of what need of that through in it's to them plan, having for And as our it. most it that's they part consumers

think of not to They're in the didn't competitors, work.Â They that communicating tailwind led year been other generally what instability those channel, channels we brokerages As channel, is external equation. to couldn't all the as which has which optimize those speaking, in our external have we that about cash make no who of GPS there's there should be support been buying also those it for leads. a brokers, maybe us,

And don't the didn't have the capacity, cash. have so they because they

are we giving the But still a the that external GPS marketing that internal And that's channels we us brokers on tailwind have. on discussed. flip the channels just so under a source side,

number And uncertainty We recruited downline given and reset stability. so those had and partners great, product were re-recruit, of GPS still that to dynamics saw in not not we a lot launch as we sought QX, that under to purposefully those structure. to a new participate of to we

to to have fourth and We onboarded that to, believe we really to those asked avoid the capacity we've of is serve of one, the to that high, a it supported to is quarter.Â And serve scale. those all material number then on so us. the times consumers how burn but that come important And a you number more consumers can long diseconomies demand you're just as volume when to cash contribution in growth QX into the there we of last have prone those it's strategically maintaining really year the of in opportunity an because piece

strategically valuable, very the us that with primary a period seeing variable and is And training rest long. So have that to maybe access support in a the external like this don't we're agencies us, for technology gives cash to of year Medicare the especially tools, burn relationship then focus in for as all it I a capacity for us year symbiotic things them those and with it gives selling when think without other today. they're

Benjamin Hendrix

year. that And time me one a commentary. strong last turnaround more for Appreciate mean, clearly, cash from I this flow. then just on

assume takes your just pieces But Just shift I of most wanted that of the to agency. the that. puts explained from non-agency want take. I is and all get to of in and to kind get

Vijay Kotte

to that It's would a around The thoughtful efficiencies driver Ben. people that and great material it most have was decisions good that was actually agency deployment. shift more operational assumed really capital of say question, non-agency. from I

retain But a as that operations decide deployment in that of externally, yes, invested have in in capital.Â As we in debt We of that mapped total We came standardization, spend conversations does I the deploy some nearly of more other was how continue it point yielded, on that. more because cash in a back that think investment. last and non-agency paid at that the to said presentations dynamics deploy and to AEP, technology. operational we it could capital avoiding better time so from more mix, simplicity, saw wasn't operational a we of expense we to down standardization ROI it's thought Agency, we saved and X/X market factor million about good it. prior gain of from and that $XX we interest we have the we flow pulled important because in the

As you AEP, market seeing we're dynamics, we different dynamic. about those come very a into think this as

a portion market agency what that that improvement. versus guess or cash efforts. non-agency. those more the and drove is meeting deploy I'm opportunity about there to lot I efficiency generated of contracting whether a to you've operational our it's of is cash So saying the you're retain materially, And the efficiency cash Then there's determine going through

Operator

question with next comes Instructions] Granite M. from [Operator Our McGuire Robert Research.

Robert M. McGuire

play fourth to out hear Vijay, quarter with out out can go. a will CAC? just you're how that love give the you years could think what e-TeleQuote of over you few anticipate from and to how us understand now would on the play interested time? a I'm efforts thinking And where in And CAC discussion kind your acquisition, to then reduce to you CAC

Vijay Kotte

Great. average acquisition. CAC as piece of by we've the we think and way about continuous had as also one it refer of timely very to time asking cost And is handle really it today. automating question direct we've Welcome, reported so of the in thoughtful improvement is on question it. progress some decreasing you A made cost the per given Rob. we appreciate amount the I or submission

The better is other piece targeting. marketing

direct that's primary our really to first buckets, be one of And to is one GPS second is really we related total one going what cost you going going there, it flows average is to going best the time the be costs.Â The right? is third the channel, mix to because be the there. X our all submission, number KPI be our Put factor cost handle So channel volume The going or call that upon a then look to time GPS my of submissions. TC&E are there So is agent aside to to based costs. the the that per right? if in be marketing selling at or

way of have then look make we do efficiency sure we highest switch we our is internal marketing, And with where can who partners partner a marketing. you out efforts of that likelihood really one identifying that aligned at you the on to most when we're that that significant and distinctively make to needing sure contracts funnel to coverage really options.Â That with is do also marketing bucket. at So or need one making have so different we're focusing or marketing of to critically the optimizing consumers getting have, top important the

from second The efficiency sale, time don't we a want efficient so both, on want amount who for overall is need decrease of or you of the really efficient you the away be sale.Â So that you're non-enrollment ensure help. enrollment consumers to an bucket walking average be to time, platform handle technology no a or the that to can but the on

handle in so in sure have our technology that over right when look marketing And TV we have to to matching.Â Our minute off together. able you enable. is the optimize that And peaks both use pop I the with time improvements the it's those sales, to way components the our pull the of would supply-demand making if step few and of to understaffed minutes think marketing you more being Is beginning it's middle time it's automation question? against things. So day and that is you marketing, that time them is seeing.Â So even proud tandem what to isn't in tools I not that the to really to work continue you -- to time. your those say do If together your it's I've responsive, there's Again, there's not make so do a minute refine not every use efficient, more that digital. of sales there AI inbound the function back different calls really buckets team and it that make and make and then And a our balancing act matching you we and then Those and running, targeting and the if team digital. calls. and look are X you you mail layering way hits by modifications to throughout amount manage And it in then you that that of have or And end sure supply-demand the together finally, so when the X you up. real enough, the you're function been average highlighted that take been step you pull decrease back at the and might that then we've not we continuously hours working, our to of able I what it's highlighted, matching, gives further. the phone ability which amount Rob, to operations that decreasing is acute to X can in being the outbound most that

Robert M. McGuire

it. Maybe move on. appreciate I just I'll is. That

or that out the you I playbook, is acquisition, but can structure? abandonment it's page there opportunities about there without probably other of with talk your that e-TeleQuote guess the For repeatable? one are

Vijay Kotte

been the And a organizations. synergy an different we that. the in by great and think to open It's these a I et in an business. tools do cetera. Not are that marketplace to everybody eye more do types platform opportunity potential built, technology to necessary through unique attempted think of stand-alones, And opportunities transactions because able there lot we Rob. entities, the see out this There's investments of of have if ear the really of large and to and listening of keep has other a to been unlock are question, and great be we've

And continuously as efficient into as do question, efficient opportunities your technology about getting the think more that we opportunity first in tap makes give continuously the we're having excited and part it the to if the long of more more it. to So consolidation expect we about sense. get by term to us industry

Robert M. McGuire

are want then going Okay. on that then some this with to at tell you talk is looking another? you to us, what versus are at that what separate perspective anticipate you're you going lifetime Can you your you mix from the agency just non-agency. about of the just Great. in that, how to seeing over time? plan go that's in you topic, us And be be greater of telling going to is forward? factors agency value What determining one And are a more point terms with

Vijay Kotte

Yes.

or possible. answer, probabilities bit me year, complicated a Any the what a little as whether or about written product try more it's structure. will of of that benefit it And degradation. about aÂ simple we the help non-agency is as to as question, a keep we efficient likelihood stable year an should and but think that go us it's given illuminate So accretion let through agency think

we engagement. that how If or support comes all because then also additional services of we plan health made Do connect is have upon think structure. of said, just you you likelihood go to it's sense exhaustive we're want a to we think upward we is the you on a the of an non-agency ultimately But choose stability to phase. there's mix process likely that on or the more sometimes there's structure. consumers go enrollment back records.Â And you doing out non-agency agency disruption, that contracting a into what be also where what more And want for with But agency non-agency them. end the on movement, be back continuous likelihood dependent onboarding to of track on the more versus for more on in and based more end

with provide Whatever wanting on that ability up to of that unique and implore opposed as to products that. different be determine competitive things for want we ultimate products individually we available like sure consumer to who able put our give the year. being years a a the best we that's matches we to of present there. our contracts out that to profile basis that will how however then And only us don't why cash opportunity, scale gives any refi make mix thumb on did that and versus within right, be that ultimately for So just us the given products nimble nimble that on X agency end relative us, we being and called non-agency. And start

product Rob? to consumers' needs, responsive question, to let want how operate. the to your we speak the Is You that and that's

Operator

from comes next & with Company. Sidoti Our question Sidoti Jim

James Sidoti

Can think do How you be impact think happen you will this you will think it? new can you you about adapt administration? to the week? talk do election the earlier what with What from the

Vijay Kotte

Jim. pay from right serve hear as more got scenario to and Thanks as still under we're have question. all resulted would possible things from Good to to the want attention. the going whichever to consumers election. many Obviously, the you, more, It's We've for do listen early, right?

the you And continue the delivering So Medicare we're staying whichever heads to believe forward expect have of as relevant to that's down, goes new us the administration program constituents. that helping be going XX% focused will we center way this and to Advantage for to those administration. making And great prepared Medicare of in valuable believe path now, on the and that's direct be right all to consumer with them the the consumers any how way possible. AEP we and to choose as coverage be the population for at to of over to between they many our want that when sure role putting serving do choosing product.Â But valuable a we finding in and it that of leaders and be it programs, right one the

much say. we help and to think we're goals overall we enough the I play the still to happy that. administration achieve short, a with to them not haven't well. value great as partner how learned long equation, more we're as So to their in may new not story it's things to know a contributor about forward But answer because

James Sidoti

to keep to are what And marketing it. Right. Is on like money you than in be X it new cash environment, with think you'll spending And mode deploy over more Where do current the to the agents, months? things think new make it you sense sounds spend the the the on? most next bringing a initiatives? cash you're

Vijay Kotte

deploy all and that extend people in would fourth shop, market How question. there's over X that organizations cash we great way highlight a Because great the question is you opportune dynamics first the it's quarters are actually we like quarter us next a to months? X for the for who for of you continued It's see it. point when asked instability, that year, the continued up through there's need set the next

that And things already us more some the those you our you made of agents can so we've acquisition capacity bets technology.Â Then give see by to deploy e-TeleQuote with the experienced onboard like if and would you on demand do that's to what more meet would hours more do and invest marketing access out can you more extend your is in so points opportunities, to it consumers you there. that of in

years, broker As organizations capacity. has to supply their able grow outside that capacity the in than this the being have to and/or had previous year us been maintain we agent as challenges many know, there there's space of in already in much not of given

of than tools. maintain better that given We've it's for through is what next of our through feed So market aren't and on. AEP. next you all this really kind in think attrition to those continuously doing place for efficiency engine got opportunity year efficient as special the go and the the as of agents the point our and well.Â So we look they a and amount tactics, But meaning focus great it, not at expected year necessarily period but as get the to dynamics agent base you actually growth we game, then you at OEP enrollment about into

we extending and about that really agents it's availability opportunities of to market. them can and access making are great exist giving our more So by more consumers sure trained

Operator

showing questions remarks. I'm closing for further time. no turn like Vijay I back to to it this would at now

Vijay Kotte

making find match the them and on and engagement bring needs appreciation peace and sell care serving help we'd your with as try that's consumers I thanks we really everything we the thank infrastructure that team that continue I'd possible. to plan interest the consumers this suitable them associates and helping joining on We meets into to to and you focus them the possible at would who an way their remiss on And highest the day on access serve to possible, find privilege support give best tools like as to our consumers really as to center our services them. journey doing is laser of day-to-day mind extend consumers a continued the for corporate on evolution of be that a have basis. things focusing with focused do. to as We frontline time most my and to like company our sure don't health consumers that's many your every of the quality can using many to that them from the needs.Â As personalized who serving all of those that my not committed based for as on all

progress you thank So on and it, appreciate we continue I all. I forward that as to you look evolution.Â Thanks. updating our

Operator

today's you participation in This does your program. the Thank for conference. conclude now

disconnect. You may now

GoHealth (GOCO) 7 Nov 242024 Q3 Earnings call transcript