CHICAGO, IL – February 16, 2021 – Kin, the insurance technology company transforming home insurance through intuitive tech and affordable pricing, today announced it has surpassed $10 billion in total insured property value. Its substantial growth is a testament to the increased demand for easy, affordable coverage for homeowners.
Kin saw a 400% increase in direct written premiums in the fourth quarter of 2020 over the previous year. Additionally, the insurtech boasts a 92% renewal acceptance rate, a strong signifier of the company’s dedication to customer satisfaction.
Kin consistently outpaces traditional insurance companies on customer satisfaction. Kin’s Net Promoter Score, which indicates a customer's willingness to recommend a company to a friend, is 85, more than double the industry average of 35.
“Kin’s growth is evidence of the exponential need for accessible and affordable home insurance,” said Sean Harper, co-founder and CEO of Kin. “Every new customer is an opportunity to prove that home insurance can actually be a delightful, easy experience. We’re eager to share that experience with homeowners everywhere.”
In August 2020, Kin raised $35 million to fuel its expansion into other states. In September of last year, it became the first insurtech company to serve homeowners in both Florida and California, two states that make up 20% of the U.S. home insurance market. Kin will launch its homeowners product in Louisiana later this quarter.
By using thousands of data points to accurately assess and price risk and by selling directly to consumers, Kin is able to trim inefficiencies that typically inflate the price of homeowner insurance. As a result, homeowners have access to reliable, affordable coverage. It’s one of the many reasons Kin has a national reputation as a top-rated insurance company.
Kin is an insurance technology company that’s changing home insurance from what it is to what it should be. By leveraging thousands of property data points, Kin customizes coverage and prices through a super simple user experience. Kin offers homeowners, landlord, condo, and mobile home insurance through the Kin Interinsurance Network (KIN), a reciprocal exchange owned by its customers who share in the underwriting profit. Because of its efficient technology and direct-to-consumer model, Kin provides exceptionally low prices without compromising coverage. To learn more, visit www.kin.com.