Online digital insurer announced entrance into the Bay State on June 22nd
Massachusetts has another home insurer. Hippo, the online digital platform has announced its formal entrance into the Massachusetts homeowners insurance marketplace. In addition to offering its home insurance products, the company also announced the expansion of its mortgage partner channel. According to the company, the platform can help its loan originator and servicer partner’s customers with a seamless home insurance purchasing experience.
“Since launching our mortgage partner channel as a pilot over a year ago, we have collaborated with an ever-growing list of leading lenders and servicing companies. Together we can deliver a seamless home insurance purchase experience that alleviates some of the stress felt by homebuyers, and helps existing homeowners find better coverage faster,” said Rick McCathron, CEO and President of Hippo. “We expect the channel to become one of our key pillars for growth, as consumers look more and more to digital avenues to address their home ownership needs.”
Customers receive tailored, purchase-ready insurance quotes in seconds without needing to answer lengthy questionnaires, and can complete the entire purchase process with Hippo in as little as four minutes. That’s compared to other providers who can take up to 30 minutes, and often require answering upwards of 70 questions, just to provide a quote.
Scott Braun, Chief Growth Officer at SimpliSafe, adds, “As a Boston-based organization, we’re thrilled to see Hippo expand into Massachusetts and be able to offer the benefits of our Smart Home Insurance program to local homeowners. Together, we’re helping to provide consumers with peace of mind and protection from potential damages.”
With the addition of Massachusetts, Hippo says its products currently reach 94% of the U.S. population in 40 states. Residents of the Bay State can now access Hippo’s proactive protection offerings such as modern home insurance coverage, company-provided smart home devices like those from SimpliSafe, and Hippo Home Care.
Hippo also owns Spinnaker Insurance Company
Hippo which acts as a licensed Property & Casualty Agency and homeowner’s insurer is part of Hippo Holdings Inc., which operates subsidiaries including Hippo Insurance Services, Hippo Home Care, First Connect Insurance Services, and Mainsail Insurance Company. The company also owns the Spinnaker Insurance Company and Spinnaker Specialty Insurance Company, which it acquired in 2020.
Our readers may remember that Spinnaker has a couple of Massachusetts insurance connections as outlined in our September 15, 2020 article entitled, “Hippo Acquires Spinnaker Insurance Company.”
