Kin saw a 400 percent increase in direct written premiums in Q4 2020 over the previous year. Additionally, the insurtech boasts a 92 percent 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,” Kin Co-Founder and CEO Sean Harper said. “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 percent of the US 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.
Source: PR Web
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