Kin surpasses $100 billion in total insured property value
CHICAGO — April 30, 2025 — Kin, the pioneering, direct-to-consumer, digital home insurance provider, today announced it surpassed $100 billion in total insured property value. This achievement reinforces Kin's position as the leading tech-forward direct-to-consumer homeowners insurance provider and reflects its accelerated growth trajectory.
Kin grew total insured value (TIV) from $10 billion to $100 billion and significantly strengthened its financial foundation in the last four years. Between 2021 and 2024, the reciprocal exchanges managed by Kin decreased their gross adjusted loss ratio (1), net of excess of loss recoveries, from 66.6% to 25.9%, underscoring improvements in underwriting performance, pricing sophistication, and risk selection.
"Reaching $100 billion in insured property value represents a pivotal moment in Kin's journey," said Sean Harper, co-founder and CEO of Kin. "It's proof that our approach to home insurance — combining cutting-edge proprietary technology with differentiated, customer-centered service — resonates deeply with homeowners across the country. We appreciate the individuals and families who trust Kin to protect their most valuable assets and look forward to serving them and many more for decades to come."
In tandem with TIV growth, Kin-managed reciprocal exchanges achieved positive adjusted net income (2) in 2024. This reflects strong operational execution and a sustainable business model aligned with policyholder interests.
In 2021, 95% of Kin’s total insured property value was concentrated in Florida. As of 2024, Florida represents just 75% of total insured property value, a direct result of Kin's geographic expansion and risk diversification strategy. The company successfully launched operations in multiple catastrophe-exposed states, including California, while maintaining its commitment to insuring underserved homeowners.
“Reducing geographic concentration enhances portfolio resilience and manages risk,” said Angel Conlin, Chief Insurance Officer. “We diversified while still growing in our core markets. With weather volatility rising in many areas of the United States, more and more customers need Kin.”
About Kin
Kin is the only pure-play, direct-to-consumer digital insurance provider focused on the growing homeowners insurance market. Kin offers more convenient and affordable coverage by eliminating the need for external agents. Kin's technology platform delivers a seamless user experience, customized options for coverage, and fast, high-quality claims service. Behind the scenes, Kin utilizes thousands of data points about each property to provide accurate pricing. To learn more, visit www.kin.com.
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Footnotes
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The gross adjusted loss ratio is a non-GAAP measure defined as loss and loss adjustment expenses, net of catastrophe excess of loss reinsurance recoverables divided by earned premium and the "earned" portion of subscriber surplus contributions during the period and excludes claims management fees to the reciprocal exchange's attorney-in-fact.
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Adjusted net income is calculated as statutory net income plus subscriber surplus contributions.