MediaAlpha, Inc. (NYSE:MAX) Q1 2024 Earnings Call Transcript

Steve Yi: Yeah, Mike, I think you said it exactly right. I think — because we’re in the early part of the recovery where there’s still a small number of carriers who are back to or somewhere close to normal levels of spend, you’re going to see more concentration in a P&C marketplace. Again, as more carriers achieve rate adequacy, start to make growth investments again, I think you’re going to see increasing diversity in demand in our P&C marketplace. And I think coming out of this hard market, as I mentioned before, again, I think we have a stable of additional carriers that we’re working with, who I think, again, we feel are really poised to really embrace this channel in this next growth cycle. And so I think we’re going to expect to see, I think, additional, I guess you said fragmentation in demand otherwise diversification in demand as the soft market really starts to gain traction.

Michael Zaremski: Okay. Loud and clear. Thank you.

Steve Yi: Thanks, Mike.

Operator: It seems that there are no further questions at this time. And this concludes today’s conference call. You may now disconnect.