Kin Insurance grows total written premium by 287% year-over-year in second quarter 2021

Kin increases its pace of growth while improving its loss ratio in the second quarter of 2021

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CHICAGO, IL – September 10, 2021 – Kin, the direct-to-consumer home insurance company built for every new normal, today announced select preliminary operating results for the second quarter ended June 30, 2021:

  • Total written premium increased to $24.7 million for the second quarter of 2021, nearly four times the $6.4 million of total written premium in the prior-year comparative period. Growth was entirely organic and directly written without the use of independent agents.
  • $22.9 million (93%) of second quarter 2021 total written premium was written through the Kin Interinsurance Network (the “Carrier”), a reciprocal exchange managed by Kin Insurance, Inc.
  • Premium renewal rate on the Carrier remained strong at 92% in the second quarter of 2021.
  • Gross profit from Kin’s management operations grew 354% to $6.8 million, compared to $1.5 million in the prior-year comparative period.
  • Operating loss of $6.9 million was unchanged compared to the first quarter of 2021.
  • Adjusted loss ratio on the Carrier for the first half of 2021 was 67%, a 29 point improvement compared to 96% in the prior-year period.

“We performed well in the second quarter, increasing our pace of growth year over year while maintaining our peer-leading unit economics. We also grew total written premium by 50% on a sequential basis, while only growing expenses by 21%,” said Sean Harper, CEO of Kin. “Customers continue to choose Kin because of our efficient pricing, tech-forward product and exceptional customer service.”

The Kin Interinsurance Network, the customer-owned reciprocal exchange managed by Kin, had a first half 2021 adjusted loss ratio of 67%, a significant improvement from 96% in the prior-year period. Because the Kin Interinsurance Network is a reciprocal exchange that collects surplus contributions from policyholders, adjusted loss ratio includes the pro-rated portion of the surplus contributions to appropriately compare Kin’s loss ratio to industry peers that do not have this unique feature.

“Kin’s technology and direct-to-consumer business model enable us to better execute on sound insurance pricing, underwriting and claims principles,” said Angel Conlin, chief insurance officer of Kin. “We believe our data advantage enables our team of expert actuaries and data scientists to apply our pricing and underwriting more accurately than legacy insurance companies that are more reliant on user and agent input data. This is exciting validation of our continued commitment to actuarially sound pricing, while delighting customers, evidenced in our stable renewal rate.”

About Kin

Kin is the home insurance company for every new normal. By leveraging proprietary technology, Kin delivers fully digital homeowners insurance with an elegant user experience, accurate pricing, and fast, high-quality claims service. 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 affordable pricing without compromising coverage. To learn more, visit