Clover’s goal is to reduce insurance costs through the use of improved data analysis and preventative health measures. The Clover data and analytics platform uses continuous, real-time monitoring of the insured in an effort to prevent hospital admissions, reduce avoidable spending, and identify and better manage chronic diseases. When Clover Health identifies potential problems with customers, it dispatches its own nurse practitioners and other professionals to homes to address health issues before they require more costly treatment. Clover only services members of the U.S. Medicare Advantage program, which has 18 million total members. The government pays the company for handling insurance claims for Clover's 28,000 elderly or disabled customers with Medicare Advantage.
Notable investors in Clover Health include Sequoia Capital, GV and Spark Capital. The company was founded in 2013 and is based in San Francisco.
*Based on Preferred Stock Price, Clover Health does not have a stock symbol since it is currently private and is yet to have an IPO.
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