GoHealth (GOCO) H.C. Wainwright 26th Annual Global Investment Conference 2024 summary

Market overview and industry trends

• Medicare serves 65 million beneficiaries, with half enrolled in Medicare Advantage; this is projected to grow to 42 million by 2030, at a 6%-8% CAGR.

• Annual enrollment periods are increasingly important due to frequent benefit changes and upcoming industry disruptions.

• The market is highly competitive, with consumers overwhelmed by options and marketing from various sources.

Business model and differentiation

• Focus on a relational, trust-based approach rather than transactional enrollments, prioritizing long-term consumer relationships.

• Proprietary technology enables personalized plan matching and unbiased recommendations, including advising consumers to stay on their current plan when appropriate.

• Agents are compensated for providing high-quality experiences, even when no plan switch occurs, fostering trust and loyalty.

Technology and operational efficiency

• Proprietary PlanFit and Encompass Workflow tools leverage a large data set of 30 million interactions for AI-driven plan matching and automation.

• Average sales handle time has been reduced from over 120 minutes to 67 minutes, improving efficiency and customer engagement.

• Cost per acquisition is nearly 50% lower than competitors, with further improvements expected through continued automation.