Clover Health Investments, Corp. (NASDAQ:CLOV) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET

Company Participants

Ryan Schmidt - Investor Relations

Andrew Toy - CEO

Scott J. Leffler - CFO

Conference Call Participants

William Hoover - Canaccord Genuity

Benjamin Rossi - Citigroup

Kevin Fischbeck - Bank of America

Operator

Good morning ladies and gentlemen and welcome to the Clover Health Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the prepared remarks. [Operator Instructions]. As a reminder, today's call is being recorded. I would now like to turn the call over to Ryan Schmidt, Investor Relations for Clover Health. Please go ahead.

Ryan Schmidt

Good morning, everyone. Joining me on the call today to discuss the company’s fourth quarter and full year results are Andrew Toy; Clover Health’s Chief Executive Officer and Scott Leffler, the company’s Chief Financial Officer. You can find today's press release and the accompanying supplemental slides in the Investor Events and Presentations section of our website at investors.cloverhealth.com. This webcast is being recorded and a replay will be available in the Investor Relations section of the Clover Health website.

I'd also like to caution you that we may make forward-looking statements during today's call, that are subject to risks and uncertainties, including expectations about future performance, factors that may cause actual results to differ materially from expectations are detailed in our SEC filings, including in the Risk Factors section of our 2022 Annual Report on Form 10-K. Information about non-GAAP financial measures referenced, including a reconciliation of those measures to GAAP measures, can be found in the earnings materials available on our website. With that, I will now turn the call over to Andrew.

Andrew Toy

Thank you, Ryan and thanks to everyone for joining us. I'm excited to be here today on my first earnings call as Clover's Chief Executive Officer. This morning, I'm pleased to share our strong results for 2022, highlighted by Insurance MCR improving over 1400 basis points compared to 2021. This improvement in MA Planned MCR reflects the continuation of the favorable performance trends we experienced throughout the year. Most importantly, our results highlight Clover assistance impact on our business and I'm excited by the data showing our technology’s clear ability to empower Medicare physicians to identify and manage chronic diseases earlier, which I'll discuss in more detail shortly.