The latest snapshot from Kin for you;
Kin, the direct-to-consumer digital home insurance and finance provider, today announces operating results for its third quarter and nine months ended September 30, 2025.
“We continue to push more volume through our technology platform, which is generating more operating leverage,” said Kin Founder and CEO Sean Harper. “Our baseline margins were 48%, the highest they’ve ever been in Q3, which is a lower-volume quarter for us. That underlying profitability enabled us to invest $26.5 million in new growth while still generating positive operating income. Our operating income more than doubled, which is a faster pace of growth than last quarter.”
“The insurance market softened this year. There are fewer shoppers and more competition for those shoppers, which reduced the efficiency of our growth relative to this quarter last year,” said Kin CFO Jerry Fadden. “However, the $26.5 million we invested in acquiring new customers generated $15.8 million in new annual recurring revenue (ARR). With our roughly 90% net retention rate, these customer cohorts turn profitable at their first renewal, 12 months later. The lifetime value of each customer (LTV) is still a significant multiple over the cost to acquire that customer (CAC).”
In the third quarter, Kin-managed reciprocal exchanges experienced a 14.8-point improvement in YoY adjusted loss ratios after catastrophe excess of loss (XOL) reinsurance recoveries. Non-catastrophe adjusted loss ratio also decreased from 20.6% in the prior year period to 18% in the third quarter.
Beyond insurance, Kin now offers a complete suite of home financing services, including mortgage loans, home equity loans, home equity lines of credit (HELOCs), and refinancing. “We have a direct and trusted relationship with our customers with review scores typically very close to 5 out of 5 on the major review sites,” added Harper. “As a result, our customers ask us to solve other problems for them and we’re leveraging our platform to do that with a variety of home lending products and, soon, even more services.”
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