Hippo Insurance Tops $10 Billion in Total Insured Property Value and Triples Written Premiums Quarter-Over-Quarter
Hippo, the
Hippo found that Americans rate the experience of buying homeowners insurance somewhere between visiting the dentist and sitting in rush-hour traffic. The company developed the first modern home insurance product which blends its patented AI framework where it is needed most -- to expedite the application process and improve the claims experience -- with a customer service model that uses a human touch where it's needed most -- when disaster strikes.
Hippo recently teamed up with Comcast to provide smart home insurance to the cable provider's Xfinity customers – ultimately marrying together smart home devices and home insurance. Traditional insurance providers have been slow to do their part in analyzing IoT and smart home insights, a practice that helps accurately assess risk and provide updated insurance options for customers. Hippo will be able manage modern day risk via IoT devices, which in turn remedies prohibitive costs for customers by reducing underwriting, claims, fraud, and more.
Hippo's Sizeable Growth By The Numbers:
- Total insured value is over
$10 Billion - Renewal acceptance holds steadily above 90%
- Tripled growth in direct premiums written quarter-over-quarter
- In the past six months Hippo has increased its coverage area from 10% of the
U.S. population to to 40%, launching into 8 new states - Loss ratio performance -- has been below industry average, attributed to Hippo's core underwriting fundamentals, use of data and AI engines and ongoing monitoring of our customers homes via data.
"Customer care is at the core of everything we do at Hippo, from eliminating process inefficiencies and outdated policy provisions through a user-friendly digital platform and modern product, to incentivizing our licensed sales team against positive customer reviews," said
Hippo's smart home insurance policies offer more comprehensive coverage for today's homeowners while cutting premium costs. Sixty percent of
Hippo's Expanded Executive Team and New Board Members Support Growth:
Hippo has doubled its staff in 2018, and today expands its senior leadership in both executive hires and newly appointed board members.
Board Members:
As Chief Revenue Officer of
Executive Hires:
About Hippo
Hippo is on a mission to transform home insurance for the modern household. Among its many innovations, Hippo allows homeowners to get a quote and purchase home insurance online in 60 seconds or less, save up to 25 percent compared with traditional insurers, and obtain smarter coverage for modern households. This includes protection for possessions like appliances, consumer electronics and home offices. Founded in 2015 by
Read the full story at https://www.prweb.com/releases/2018/07/prweb15616315.htm
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