Core Insights - CareScout has expanded its service offerings nationwide, providing families with a personalized Care Plan created by licensed nurses and access to a credentialed network of home care providers through the CareScout Quality Network [1][2] Service Offerings - The new offerings aim to establish CareScout as a comprehensive platform for aging and long-term care, assisting families in planning, understanding, finding, and funding care with greater clarity [2] - CareScout's Care Plans are based on over 20 years of experience and more than one million nurse-led evaluations, ensuring professional guidance through direct interaction with licensed nurses [4] Care Plan Details - Each Care Plan includes a one-on-one evaluation lasting 45-60 minutes, available in-person or virtually, focusing on daily routines, functional abilities, cognitive changes, safety needs, and personal goals [4][5] - Families receive a customized Care Plan within five business days, which emphasizes understanding the individual behind the needs and provides credible, personalized support [5] Quality Network - The CareScout Quality Network offers families access to home care providers that meet strict credentialing standards and typically offer preferred pricing below market rates [6] - This network aims to enhance transparency and quality in the long-term care sector, helping families confidently identify high-quality home care providers [6][7] Unique Features - CareScout differentiates itself from online lead aggregators by prioritizing family control and providing support tailored to their needs, resulting in a more respectful and transparent experience [7] - The Care Plans include unbiased analysis of physical and cognitive abilities, personalized recommendations, local resource options, and actionable next steps to simplify complex decisions [8] Availability - Care Plans are available nationwide for a one-time fee, and CareScout does not charge families for access to the Quality Network [9]

Financial Data and Key Metrics Changes - Genworth reported net income of $54 million or $0.13 per share for the first quarter of 2025, with adjusted operating income of $51 million [9][24] - The total estimated pretax statutory loss for U.S. Life insurance companies was $1 million, primarily driven by losses in life and annuities [10][31] - Liquidity remains strong with cash and liquid assets of $211 million at the end of the first quarter [11][34] Business Line Data and Key Metrics Changes - Enact contributed $137 million in adjusted operating income, reflecting strong performance and reserve releases [9][27] - The long-term care insurance segment reported an adjusted operating loss of $30 million, impacted by lower limited partnership income and anticipated premium declines [25] - Life and Annuities reported an adjusted operating loss of $33 million, with Life Insurance reflecting a loss of $44 million due to seasonally high mortality [26][31] Market Data and Key Metrics Changes - CareScout achieved a dramatic increase in matches between Genworth policyholders and quality network providers, rising to 576 from 52 year-over-year [14] - The CareScout quality network now includes nearly 550 providers, achieving 90% coverage for the aged 65 census population in the U.S. [15][16] Company Strategy and Development Direction - Genworth is focused on three strategic priorities: increasing shareholder value, maintaining self-sustainability of legacy businesses, and expanding CareScout services [11][12][13] - The company is actively engaging with policymakers regarding the WISH Act, which aims to provide financial support for long-term care [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating potential macroeconomic challenges, including a moderate recession, due to low holding company debt and strong liquidity [21][22] - The demand for aging care products is expected to rise significantly as the baby boomer population ages, regardless of economic conditions [22][23] Other Important Information - Genworth's share repurchase program has repurchased a total of $600 million worth of shares at an average price of $5.75 per share since its initial authorization [12] - The company is developing a hybrid long-term care product and has received product approval from 23 states [17] Q&A Session Summary Question: Clarification on AXA litigation agreement - Management clarified that the agreement with AXA involves covering up to £80 million of losses, aligning interests for maximum recovery [41][42][43] Question: Future capital contributions for CareScout - Management indicated that the initial capital contribution of $75 million is significant, but future contributions would be manageable, likely in the range of $20-25 million over time [44][46][48] Question: Breakeven timeline for CareScout quality network - Management noted that while breakeven may take time, the projected savings from the network could already add significant value to the company [49][50][53] Question: Tailwinds from the WISH Act for CareScout - Management discussed how the WISH Act could provide a framework for catastrophic coverage, aligning well with CareScout's offerings [57][62][63]