U.S. online bank Ally Financial has agreed to a partnership with home insurance provider Hippo Holdings Inc that will allow it to offer home insurance policies for the first time, the companies told Reuters. Hippo will underwrite the policies on behalf of Ally as a “fronting carrier,” while Ally will assume their risk and put… Continue reading Ally Financial to Offer Home Insurance with Hippo Partnership
Tag: home insurance
Chubb Acquires StreamLabs, Maker of Smart Water Leak Detection Products
Chubb Limited today announced that it has acquired the business of StreamLabs from Australia-based Reliance Worldwide Corporation Limited (RWC). StreamLabs offers leading Internet of Things (IoT) enabled water monitoring, leak detection and water shut-off products. The addition of StreamLabs, which uses patented and proprietary ultrasonic technology to monitor waterflow and alert property owners to potential… Continue reading Chubb Acquires StreamLabs, Maker of Smart Water Leak Detection Products
Allstate Seeks More Independent Agents, But Not As ‘Human Modems’
Allstate Corp. wants to buy more independent insurance agencies this year to build the business it acquired with its purchase of National General, Allstate Chief Executive Tom Wilson told Reuters on Wednesday. But the agents will be there to talk to customers in depth, not punch data into a computer to get a quote, Wilson… Continue reading Allstate Seeks More Independent Agents, But Not As ‘Human Modems’
Hippo Partners with CAPE Analytics for Real-Time Property Intelligence
Hippo, the home insurance group that created a new standard of care and protection for homeowners, has recently announced a new integration with CAPE Analytics, which uses deep learning and geospatial imagery to provide real-time property intelligence. The integration advances Hippo’s automated property analysis capabilities to more narrowly target property characteristics and tailor policies accordingly… Continue reading Hippo Partners with CAPE Analytics for Real-Time Property Intelligence
Porch Completes $100M Homeowners of America Acquisition
Porch Group, Inc., a leading vertical software company reinventing the home services industry, successfully completed its previously announced acquisition of Homeowners of America (HOA), making Porch one of the largest Insurance Technology (InsurTech) companies. HOA is a Managing General Agent and insurance carrier hybrid with high margins and a capital efficient reinsurance strategy which limits… Continue reading Porch Completes $100M Homeowners of America Acquisition
Almost One-Third of the U.S. Housing Stock is Exposed to High Risk from Natural Hazards: CoreLogic Report
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its annual Climate Change Catastrophe Report highlighting the value of modern insurance and mortgage solutions in addressing the increase in climate change-induced hazard events and impact on the real estate economy. Most homes in the U.S. have some risk, often unbeknownst to… Continue reading Almost One-Third of the U.S. Housing Stock is Exposed to High Risk from Natural Hazards: CoreLogic Report
Homeowners and Insurers Will Grapple with Climate Change in 2021
After a 2020 filled with hurricanes and wildfires, this year could be the moment when the U.S. insurance industry finally grapples with climate change. Who will win that wrestling match? Insurers? Homeowners? Or the increasingly challenging environment? “The alarm bells are now ringing loudly,” says Karen Collins, who handles home insurance and other personal lines… Continue reading Homeowners and Insurers Will Grapple with Climate Change in 2021
Allianz Buys Westpac Insurance Business
Allianz has acquired the Westpac general insurance business in a A$725 million deal that includes a 20-year agreement for distribution of products to the bank’s customers. The insurer says the transaction is an important step in building its consumer portfolio in Australia and builds on an existing relationship with Westpac, in place since 2015, that… Continue reading Allianz Buys Westpac Insurance Business
Mercury Insurance Launches Programs to Help California Homeowners with Wildfire Risk
Wildfire season is well underway, with wildfires scorching a record breaking number of acres up and down California, and the peak of the season is yet to come. Mercury Insurance today announced two new programs the company is launching to help Californians better protect their homes and families if they live in areas prone to… Continue reading Mercury Insurance Launches Programs to Help California Homeowners with Wildfire Risk
CoreLogic Estimates $8B-$12B in Insured Losses from Hurricane Laura Wind and Storm Surge
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today announced updated residential and commercial wind and storm surge loss estimates for Hurricane Laura. According to this new data analysis, insured wind and storm surge losses for residential and commercial properties in Louisiana and Texas are estimated to be between $8 billion and… Continue reading CoreLogic Estimates $8B-$12B in Insured Losses from Hurricane Laura Wind and Storm Surge