Hippo expands book of business through carrier relationship
US insurtech focused on the home insurance market Hippo has expanded its underwriting capacity through a new issuing carrier partnership with insurance group Incline P&C.
The agreement expands Hippo's book of business across multiple fronting partners and substantiates the MGA portion of Hippo's business separate from its carrier business through Spinnaker, maintaining a capital light model with sophisticated underwriting guidelines and pricing models.
Hippo's homeowners programme will be offered through Incline's distribution channels and a separate reinsurance programme will be placed.
The company is continuing to expand products and services in line with its commitment to innovation and vertical integration across the home space. The partnership will not only enhance Hippo's underwriting capabilities but enable it to offer its protective policies and services to home insurance customers across the US.
"Strong carrier relationships are integral to how we scale and grow our business, pushing our proactive approach forward to deliver the first home protection platform to customers across the country," said Rick McCathron (pictured), president at Hippo. "Incline is a specialised firm with an innovative platform and underwriting expertise that furthers our commitment to innovation in the space, and deepens our relationship with our customers. Chris and his team have impressed us with their strategic approach and aligned interests that will support our shared growth."
Chris McClellan, president and CEO, Incline P&C Group, commented: "Technology is shaping and simplifying every aspect of our world, including home insurance. Hippo's innovative, proactive approach to insurance is a reflection of modern technology transforming the future of the home insurance market and so much more. We are thrilled for our partnership."
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
