Another thundering “thud” in the InsurTech world. I’ve said many times on this forum and others as well as in meetings on this subject: It isn’t the “tech” it’s the “insure” that just won’t work. Here is the message that got just now trying to get an HO quote from Hippo: “Hippo insurance is not available in your state…”. That message has appeared since they came on line.
They are in 32 states total. Try CA and check out the experience. Not currently available in FL. Competitive pricing and a solid experience. Coverage for “equipment breakdown” in terms of home systems. They bought Spinnaker several months back so there is Insurance experience and people involved. Comcast is an early backer with a distribution partnership as well. Will be interesting to see how their numbers look in comparison to a Lemonade.
It will be interesting to see for sure. Lemonade has kind of decided they won’t be a major player any time soon as they are sticking with renters, non-cat condos and pet insurance. Again, you just can’t gain any real ground. Spinnaker is a Florida company and, up until Hippo bought them, they were writing HO-6’s for us. Like all these enterprises, their “thirst for risk” and ability to manage it will determine their long term success. I’m not very positive, especially in a place like Florida, that they can make any better go of it than anyone else.
Another thundering “thud” in the InsurTech world. I’ve said many times on this forum and others as well as in meetings on this subject: It isn’t the “tech” it’s the “insure” that just won’t work. Here is the message that got just now trying to get an HO quote from Hippo: “Hippo insurance is not available in your state…”. That message has appeared since they came on line.
They are in 32 states total. Try CA and check out the experience. Not currently available in FL. Competitive pricing and a solid experience. Coverage for “equipment breakdown” in terms of home systems. They bought Spinnaker several months back so there is Insurance experience and people involved. Comcast is an early backer with a distribution partnership as well. Will be interesting to see how their numbers look in comparison to a Lemonade.
It will be interesting to see for sure. Lemonade has kind of decided they won’t be a major player any time soon as they are sticking with renters, non-cat condos and pet insurance. Again, you just can’t gain any real ground. Spinnaker is a Florida company and, up until Hippo bought them, they were writing HO-6’s for us. Like all these enterprises, their “thirst for risk” and ability to manage it will determine their long term success. I’m not very positive, especially in a place like Florida, that they can make any better go of it than anyone else.