Horace Mann Educators Corporation (NYSE:HMN) Q1 2024 Earnings Call Transcript

Unidentified Analyst: Okay, thanks. And then as my follow-up, you called out a benefit in the prepared remarks from product changes and property and just wanted to confirm if you expect to realize the full benefit in 2024 or if it could go into 2025 before I think you said a full 3 points?

Mark Desrochers: Right. I think, Marita was referring to the roof schedule is probably the most substantial product change that we’ve made that we expect to drive that 3-point improvement. And as that earns its way in, we kind of expected maybe between a quarter and one-third of that benefit in 2024 with most of the rest of it coming in 2025 and then just the very nature of the fact that homeowners’ policies at 12 months, some of it will work its way all the way into 2026 before it’s fully earned.

Unidentified Analyst: Okay. Thank you.

Marita Zuraitis: You’re welcome.

Operator: [Operator Instructions] Thank you. I’m showing no further questions. This concludes our question-and-answer session. I would like to turn the conference back over to Bret Conklin for any closing remarks.

Bret Conklin: I just want to thank everyone for your participation on today’s call, and we look forward to talking with everyone again next quarter. Thanks.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.