Latest deal from Hippo;
Today, the premier insurance program market services firm Incline P&C Group has announced a new issuing carrier relationship with Hippo Insurance Services, which is part of the Hippo family of companies that created a new standard of care and protection for homeowners. The agreement will offer Hippo’s protective policies and services to home insurance customers.
Over the last six years, Hippo has expanded its insurance products to reach homeowners in 37 states and grown its distribution partnerships to meet customers when and where they want to buy. The agreement will enable Hippo to enhance its underwriting capabilities, bringing its innovative and proactive approach to home insurance to more homeowners across the country.
“Strong carrier relationships are integral to how we scale and grow our business, pushing our proactive approach forward to deliver the first home protection platform to customers across the country,” Rick McCathron, President at Hippo said. “Incline is a specialized firm with an innovative platform and underwriting expertise that furthers our commitment to innovation in the space, and deepens our relationship with our customers. Chris and his team have impressed us with their strategic approach and aligned interests that will support our shared growth.”
With a portfolio of home care services and products, Hippo has established a new standard for home protection. Through advanced underwriting, smart devices, and preventive maintenance, the company helps homeowners foresee potential issues before they turn into costly problems. The company is continuing to expand products and services in line with its commitment to innovation and vertical integration across the home space.
“Technology is shaping and simplifying every aspect of our world, including home insurance,” Chris McClellan, President and CEO, Incline P&C Group said. “Hippo’s innovative, proactive approach to insurance is a reflection of modern technology transforming the future of the home insurance market and so much more. We are thrilled for our partnership.”
The agreement with Incline expands Hippo’s book of business across multiple fronting partners and substantiates the MGA portion of Hippo’s business separate from its carrier business through Spinnaker, maintaining a capital light model with sophisticated underwriting guidelines and pricing models. Hippo’s homeowners program will be offered through Incline’s distribution channels and a separate reinsurance program will be placed.