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SelectQuote: A Fast-Growing Company In Insurance (NYSE:SLQT)

SelectQuote: A Fast-Growing Company In Insurance (NYSE:SLQT)

I’ve been building a portfolio for high growth stocks that could outperform the market. I stumbled into SelectQuote (SLQT) After doing some due diligence, I like the company’s “story” and believe it is worth a look.

Just a brief background on the company, SelectQuote is a Health, Life, Auto, and Home insurance broker. The company has relationships with all of the nation’s leading insurance providers. What differentiates SelectQuote from traditional insurance brokers is its distribution platform which seamlessly blends technology and agent/human interaction components. The first piece of the puzzle is the company’s website, which allows users to request quotes for insurance premiums inputting their general data. There was already an existing trend of younger people being more comfortable shopping insurance online as it allows a greater level of transparency with regard to pricing and coverage comparison. This trend is only magnified by the ongoing coronavirus pandemic which has forced a lot of people to get used to shopping online.

Supporting this online platform, SelectQuote has a team of able agents who provide a “human touch” to the service. Clients are able to choose whether to go through the process themselves online or have an agent help them out as they walk through the various options. Insurance can get complicated, and some clients need a little bit of hand-holding in order to find a plan that most fits their needs. The final underpinning of SelectQuotes’ business model is its data-enabled lead generation and management. The company engages in direct to consumer marketing and generates leads from a wide variety of sources both online and offline (search engines, TV, 3rd party marketing, etc.). The company’s software is able to estimate the lifetime value of a customer and properly weight it against the customer acquisition costs. As the firm continues to operate,

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