SelectQuote Inc. known as SLQT offers a direct-to-consumer distribution platform that provides consumers with a venue to shop for senior health, life, auto, and home insurance policies from various insurance carriers. The Company’s products are underwritten by insurance carrier partners that it selects across its SelectQuote Senior, SelectQuote Life and SelectQuote Auto & Home businesses. SelectQuote Senior business provides comparison shopping for Medicare Advantage and Medicare Supplement insurance plans, as well as prescription drug plans, dental, vision, and hearing, and critical illness products.
NYSE: SLQT at https://www.webull.com/quote/nyse-slqt life is a DTC insurance distributor for term life insurance and provides comparison shopping for life insurance and ancillary products, including term life, guaranteed issue, final expense, accidental death, and juvenile insurance. SelectQuote Auto & Home is a comparison shopping platform for auto, home, and specialty insurance lines. The analyst rating for SLQT is at these following percentages: strong buy at 10.00%, buy at 70.00%, hold at 20.00%, underperform at 0.00%, sell at 0.00%. The average SLQT stock price target is 32.00 with a high estimate of 38.00 and a low estimate of 29.00.
The company was not so famous inits young tenure as a public company and is likely to ride the coattails of the insurtech wave. On May 21, the insurtech brokerage company offered 25 million shares at a price of $20 per share to the public. That price jumped to $27 later that day, displaying strong investor confidence amidst economic uncertainty. The company is an intriguing insuretech play with a tremendous opportunity to capitalize on the growing senior market.
Business front of SLQT:
88% of SLQT’s revenue is derived from commissions from these carriers who leverage SelectQuote’s proprietary technology to increase sales and marketing efficiency. The company has terrific customer service, and its business model sits very well with the baby-boomer generation. After checking just a few boxes on the company’s website, customers are connected with an agent within minutes. This is where the onboarding starts for most customers, although they also have the option of completing the process online.
The company’s proprietary technology is called SelectCare, which aggregates over 30 years of data points to accurately target its customer base and match them with the right carrier. The routing and workflow system also allows the company to track its acquisition costs in order to allocate marketing funds to the proper channel. The consumer can compare and purchase a quote entirely online or through a licensed sales agent. You can check the live stock quotes before investing in stocks. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.