The homeowners’ insurer has named seasoned leaders to drive its Information Systems, Data Science & Analytics, Cloud Infrastructure, and Engineering Platforms as the Company Scales to Reach Millions More Homes.
The veteran insurance leaders will drive Hippo’s underwriting, actuarial and pricing, portfolio, reinsurance and capital management practice areas.
The enhancements aim to bring increased speed, efficiency, and processing power to Hippo’s customer claims services as Hippo expands to its 33rd state, Michigan, and scales its home insurance product.
The merger with Reinvent Technology Partners Z will result in Hippo having $1.2 billion in cash to fund growth and operations.
IIR talks with Rick McCathron, Hippo’s Chief Insurance Officer, about where the company is today, and how the new funding round supports its ambitious mission to transform homeowners insurance.
The startup homeowners insurer closed a $14 million of Series A funding round in December 2016, and is currently building out its team as it gears up to launch its home insurance offering in 2017.
Resulting from a partnership begun in Aug. 2021, Hippo’s commercial lines product that seeks to modernize the HOA insurance experience is now available in 15 states.
The partnerships will allow Hippo Insurance Services to match claimants with top-tier contractors to deliver high-quality work, real-time updates and a faster reconstruction timeline.
Led by Felicis Ventures and Lennar Corporation, the latest round of funding will be used to accelerate growth.
The DTC homeowners-focused startup has raised $209 Million in total funding to fuel geographical expansion, broaden its product portfolio and grow its distribution network.
