The following is a summary of the Horace Mann Educators Corporation (HMN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 core earnings of $0.76 per diluted share, a 73% increase over the previous year.

• Revenues increased by 9%, along with double-digit sales increases in Auto, Life, and Individual Supplemental Lines.

• Maintained full-year EPS guidance range of $2.40 to $2.70.

• Reported a combined ratio of 97.9% in Property-Casualty, nearly 19-point improvement from the previous year.

Business Progress:

• Rolled out rate and non-rate actions as part of the multiyear P&C profitability restoration strategy, leading to substantial improvements in loss ratios.

• Advanced digital capabilities with a 50% increase in quotes started online due to website and quoting functionality enhancements.

• Investment in agency force increase and geographic strategic placement for agent recruitment.

• Continued relationship expansion with the International Association of Firefighters, contributing to a significant portion of new Individual Supplemental sales.

Opportunities:

• Ongoing improvement in digital engagement, including a 50% increase in online quote initiation, reinforcing the company's omni-channel marketing strategy.

• Strengthened focus on enhancing agent distribution and digital lead generation to drive Auto policy growth, set to see increased policyholder figures by late 2025.

Risks:

• The slow growth rate in AI services as they scale towards general availability.

• Anticipated challenges in maintaining rate increases in line with loss trends, requiring continual monitoring and adjustments.

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