Hoping to Hasten Crawl to Profitability, Clover Health Inks Outsourcing Deal

Since its inception as a technology-based “disruptor” in the Medicare Advantage space, Clover Health Investments Corp. has struggled to turn a profit. But after showing signs of momentum at the end of 2022, Clover leadership has declared 2023 as a year focused on profitability rather than growth. To speed that path, the insurtech this week unveiled two “business transformation initiatives”: (1) an agreement to transfer its core plan operations to UST HealthProof’s integrated technology platform, and (2) additional corporate restructuring actions that included a recent 10% workforce reduction.

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