Home insurance insurtech agency Hippo plans to acquire New Jersey-based Spinnaker Insurance Co., an insurer with which it has has had a three-year partnership. The deal, first reported by Carrier Management, is designed to help Hippo – a managing general agent – expand the geographical reach of its modern home insurance policies, which also include…
Hong Kong Broadband Network Ltd. (HKBN) is now offering customers an “All-in-One Home Kit,” complete with fiber broadband service and home insurance from AXA Hong Kong and Macau (AXA). The kit also has a home network security solution and smart home solutions, the insurer and broadband provider said in a joint media statement. The importance…
Lloyds Banking Group Plc’s insurance unit was fined 90.7 million pounds ($125 million) by the UK Financial Conduct Authority for failing to make sure language in millions of home insurance policies was clear. The FCA said the insurance division sent nearly nine million communications between January 2009 and November 2017 telling customers they were getting…
LONDON – Insurers in Britain that are not ready to implement tougher “value for money” rules on car and home policies could face disciplinary action, the Financial Conduct Authority said on Wednesday. The FCA found in May that loyal customers were not getting value for money, and that 6 million policyholders would have saved 1.2…
Slide, an insurtech company based in Tampa, announced it is closing its oversubscribed, $100 million Series A fundraising round. Slide uses data, artificial intelligence and machine learning to let homeowners create insurance policies, and the fundraising will help the firm expand its development, Slide officials said in a news release. The company is headed by…
Kin Insurance, a digital direct-to-consumer home insurer that targets catastrophe-prone areas, said it has has acquired an inactive insurance carrier holding licenses in 43 states. Kin, which has operated in Florida, California, Georgia and Louisiana, first announced the planned purchase of the licenses in July. The agreement was disclosed along with plans to go public…
Technology-driven Hippo has expanded its commercial lines homeowners association (HOA) insurance offering into 15 additional states after debuting it last August in Arizona. Hippo’s HOA insurance is now available in Arizona, Colorado, Delaware, Idaho, Illinois, Indiana, Massachusetts, Maryland, Michigan, Nevada, Oregon, Pennsylvania, Tennessee, Utah, Wisconsin, and West Virginia. Hippo said it customizes its HOA policy…
Boston-based Openly, an insurtech homeowners insurer distributing through independent agents, has closed a $75 million Series C investment. According to founders Ty Harris and Matt Wielbut, Openly has responded to a perceived gap in the market: while consumers are increasingly buying home insurance through independent agents, the products those agents can offer have not kept…
Digital insurer Hippo Insurance Services announced the availability of its home insurance products in Massachusetts. Residents of the Bay State can now access Hippo’s home insurance coverage, as well as company-provided smart home devices. With the addition of Massachusetts, Hippo products are now available in 40 states The move comes two months after Hippo entered…
A large ice chunk fell from the sky and hit a house in Massachusetts, damaging the roof of the home, the homeowner said. Jeff Ilg said he and his wife, Amelia Rainville, suspect the ice fell off an airplane traveling to Boston Logan International Airport. Neither the couple nor their two children were hurt when…