Heres what I learned Kin's technology-first approach enables customers to insure homes online within minutes. opens in new window, Forbes: How to win with transparency Previous Series C investors included NBA All-Star Draymond Green and four-time champion golfer Rory McIlroy. opens in new window, Business Insider: Insurtech disrupters: Heres what full-stack insurtechs are doing to beat incumbents 3. The Chicago-based company, which is currently expanding into new markets, is also preparing to go public. Now the future belongs to frictionless commerce, and the homeowners insurance industry is lagging way behind. opens in new window, Built In: Kin Insurance secures $82M for its D2C home insurance platform So one way to think about Kin's marketing efficiency is to compare our $500, divided by our average policy size, $1733, divided by the life of the policy implied by our 92% renewal rate and you get 2.3% which compares very favorably against the 17% that selling through agents costs. The investor presentation lays out Kin Insurance as being built for the digital era with competitors stuck in the past. Investors may listen to a pre-recorded call regarding the proposed business combination today at 9:00 am ET. opens in new window, Crunchbase: Exclusive: Kin raises $63.9M in Series C funding for data-driven home insurance Payments, Grocery Our customers receive a simple, direct and exceptional experience that provides them with real savings and leaves them delighted and loyal to Kin. opens in new window, Ad Age: Florida Man start in new Kin Insurance campaign By doing these small things, you could even influence the percentage of claims that may be settled in court. We can offer Louisiana HO3 coverage issued through the Kin Interinsurance Network, rated A, Exceptional, by Demotech. Throughout his career he has held leading roles within Marketing Strategy and Decision Management with top Insurance, Banking and Finance companies, including USAA, Citibank and Sallie Mae. opens in new window, The Future of Insurance: Sean Harper, Kin Insurance The business combination reflects an estimated implied pro forma enterprise value at closing of $1.03 billion, assuming no redemptions by Omnichannels public stockholders. Moreover, the math barely adds up when you look at a 38% loss ratio, a 28% reinsurance premium, and a 32% commission. This communication does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination. opens in new window, Washington Post: How do I get an Airbnb refund for canceled plans? Kin has a 92% customer-retention rate and is expecting to more than triple its written premiums in 2021; and to hit more than $400 million in total written premiums by the end of 2023, Harper said . The deal also includes backing from new strategic investors including Willis Group Holdings CEO Joe Plumeri; Stephen Ross, Jeff Blau and Bruce Beal of Related Companies; and VaynerMedia CEO Gary Vaynerchuk. Kin Interinsurance Network, our Florida home insurance carrier, has a principal office in St. Petersburg, Florida, and our NAIC number is 16603. The proposed stock purchase agreement deal, as well as the public offering, are anticipated to close in the last quarter of this year. Get comfortable with rejection opens in new window, Axios: The hidden factor in Floridas property insurance crisis Intelligence, Connected Platforms, Subscription These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. (More to follow). What they dont realize is that you are continuously innovative and have the confidence and experience to build long-term relationships with your agents, partners and customers. Readers are cautioned not to put undue reliance on forward-looking statements, and Omnichannel and Kin assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Call 636-462-2701 or email nicole@hscllc.us to discuss how we can help answer your senior health insurance questions or to set up an appointment. opens in new window, ValuePenguin: Insurance expert Q&A with Angel Conlin, CIO of Kin opens in new window, Fortune: How your homeowners insurance premium is determinedplus 7 tips to help you save opens in new window, Kin Insurance receives Chicago honors for its talent and workplace culture Kin Insurance and Omnichannel Acquisition Corp., a publicly traded special purpose acquisition company, announced that they have mutually agreed to terminate their previously announced agreement and plan of merger as a result of "current unfavorable market conditions." "We worked tirelessly over the better part of a year to bring this combination to . CHICAGO, IL July 19, 2021 Kin Insurance, Inc. (Kin), an insurance technology company that makes home insurance easy and affordable, and Omnichannel Acquisition Corp. (NYSE: OCA) (Omnichannel), a publicly-traded special purpose acquisition company led by serial entrepreneur Matt Higgins and a deep bench of consumer operators, announced today that they have entered into a definitive business combination agreement. opens in new window, Built In: Home insurtech startup Kin raises $35M plans to hire 100 people Use data to your advantage to attract valuable and prospective clients, whether you are exclusively an agency channel, exclusively direct, or a mix. opens in new window, Benzinga: Top 10 insurtech influencers Transaction includes commitment for $80 million PIPE led by HSCM Bermuda and Senator Investment Group, with participation from Gillson Capital, Park West Asset Management and other institutional investors, New strategic investors include Joe Plumeri, former chairman and CEO, Willis Group Holdings; Stephen Ross, Jeff Blau and Bruce Beal of related companies, the most prominent privately-owned real estate firm in the United States; and Gary Vaynerchuk, CEO of VaynerMedia, Previous Series C investors include NBA all-star Draymond Green and four-time major champion golf pro Rory McIlroy; noth back Kin to raise brand profile across the country. opens in new window, Business Insider: 5 ways to reduce your homeowners insurance premium opens in new window, Kin upgrades reinsurance program, emphasizing commitment to homeowners most impacted by climate change opens in new window, Forbes: Putting the green back into greenbacks with climate fintech Get our latest stories curated just for you. opens in new window, Crain's Chicago Business: Insurance startup Kin abandons SPAC As a result, Kin has an opportunity to reinvent and lead the massive homeowners insurance marketplace. opens in new window, Kin Insurance surges to $11.3 million in total managed premium in November, increasing 327% year-to-date Payments, More 2016-2023 Kin Insurance Technology Hub, LLC. In other words, it has the financial stability to pay out claims even after widespread disasters. opens in new window, Forbes: Reminder: Capitalism is supposed to benefit customers They are doing this by merging with the Omnichannel Acquisition Corp SPAC. Kin Insurance exceeds 2021 goal for total managed premium, achieves 320% year-over-year growth Thu Jan 20 2022 Kin Insurance completes acquisition of carrier with licenses in 43 states Wed Dec 15 2021 Kin Insurance surges to $11.3 million in total managed premium in November, increasing 327% year-to-date Thu Dec 9 2021 As Kin looks to soon expand its reach into new markets, the company announced NBA superstar Draymond Green joined four-time major champion golf pro Rory McIlroy in the recent Series C round as an investor, both of whom will assist in raising Kins profile across the country in current markets and in new geographies. opens in new window, Washington Post: Eight tips for buying homeowners insurance Kin Insurance is funded by 43 investors. Kins low cost structure, fast reaction time and data advantage enable Kin to adapt better to the increasingly volatile weather occurring throughout the country as the climate warms. Kin Insurance, a provider of direct-to-consumer insurance solutions, has carved a niche for itself in the industry by making affordable home insurance accessible to customers. Picks, CE100 opens in new window, Forbes: How to successfully identify problems worth solving Important Information for Investors and Stockholders. | Insurance technology (InsurTech) company Kin is merging with the special purpose acquisition company (SPAC) Omnichannel Acquisition Corp. to go public on the NYSE under the ticker symbol. Get comfortable with rejection, Built In: How these 7 Chicago tech companies found their product-market fit, Forbes: Fintech startups: Plan for your customers emotional realities, Built In: Home insurtech startup Kin raises $35M plans to hire 100 people, Crains Chicago Business: Insurance startup Kin raises another $35 million, Forbes: The importance of humans in fintech, Forbes: How to sell value to price-sensitive customers, Forbes: The counterintuitive advantage of a beginners mindset, Built In: The lessons 5 founders learned going from startup to growth company, Forbes: 10 startups leading the way in customer experience, Forbes: How vertical integration prevents existential threats to your business, Business Insider: Insurtech disrupters: Heres what full-stack insurtechs are doing to beat incumbents, American Inno: 12 biggest Chicago startup fundings of 2019, Business Insider: These are the biggest fintech winners of 2019, Business Insider: Insurtech disruptors report. Consumers deserve an easy, affordable and personalized insurance experience, and at Kin, we are building the home for better insurance., The Kin team has leveraged their decades of insurance and fintech experience to build a capital efficient company that is experiencing outstanding growth across the board, along with compelling and superior unit economics, said Matt Higgins, chairman and CEO of Omnichannel, who also co-teaches a course on digitally native brands at Harvard Business School. Kin operates across Florida, Louisiana and California, and is stepping up its move into new markets with the acquisition of an inactive insurance carrier that holds licenses in more than 40 states. Such forward looking statements include estimated financial information, including insurance premium run-rate and enterprise software revenue. opens in new window, Forbes: How to adapt when your industry is facing disruption Kin Insurance, a Chicago home insurance startup, is canceling its previously announced SPAC deal that would have valued the company at more than $1 billion. opens in new window, Forbes: Fintech startups: Plan for your customers emotional realities opens in new window, Business Observer: Insurtech startup brings fresh perspectives to market Kin grows total written premium by 230% year-over-year, Kin Insurance exceeds 2021 goal for total managed premium, , Cinch Home Services partners with insurance industry , Displaying post opens in new window, The Insurer: Insurtech Kin announces $82MN first close in latest financing round opens in new window, Crunchbase: Some Crossover Investors Ramp up While Others Scale Back Amid Market Wonkiness USA Today: Which tech investments can weather volatile markets best? Direct-to-consumer home insurance technology company Kin Insurance is going public through a reverse merger with Omnichannel Acquisition Corp., the company announced Monday. Kin signed an agreement to acquire an inactive insurance carrier with licenses in over 40 states, bringing the unicorn one step closer to national expansion. During the call, they mentioned the capability to dynamically adjust premiums depending on the weather. In addition, the documents filed by Omnichannel may be obtained free of charge by written request to: Christine Pantoya, Chief Financial Officer, Omnichannel Acquisition Corp., 485 Springfield Avenue #8, Summit, New Jersey 07901. Kin and . The agreement values Kin Insurance at roughly $1.03 billion. opens in new window, Benzinga: Omnichannel acquisition partner Kin Insurance reports triple digit growth in Q3 The SPAC Deal: Kin Insurance announced a SPAC merger with Omnichannel Acquisition Cop (NYSE:OCA) valuing the company at a pro forma enterprise value of $1.03 billion. Today, Kin Insurance, an Insurtech with only $25 million in premiums in 2020 and an expected $98 million in 2021, announced its intention to go public today with a valuation of $1 billion. opens in new window, Inside P&C: Kin proved its model works through its high customer retention: CEO Harper Kin Insurance Inc., an insurance-technology startup that counts golfer Rory McIlroy among its investors, has agreed to go public through a merger with Omnichannel Acquisition Corp ., a. Invest in emotional intelligence. Get in touch with us for all press and speaker inquiries. Kins success has been primarily in markets where carriers were less interested in writing policies like FL, LA, and to a lesser extent CA. Why it matters: This is likely to be a good outcome for Kin. opens in new window, Kin Insurance sees growth accelerate at the start of fourth quarter, while adjusted loss ratio improves Such forward looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the businesses of Omnichannel, Kin or the combined company after completion of the Business Combination are based on current expectations that are subject to risks and uncertainties. opens in new window, Authority: 5 things you need to succeed in the modern world of finance & fintech opens in new window, Kin gives Floridians new insurance discounts following passage of assignment of benefits bill Kin Insurance, an InsurTech that has just finalized a $64mn series C investment round, is in talks to merge with a special purpose acquisition company (SPAC) led by Shark Tank judge Matt Higgins, Bloomberg has reported. His advice has been widely appreciated in the financial community, which resulted in multiple quotes and publications in various media. The transaction is further supported by a fully committed $80 million PIPE at $10 per share of Class A common stock of Omnichannel led by HSCM Bermuda and Senator Investment Group. The residential property market cannot function without homeowners insurance, because insurance is required by most mortgage lenders. Louisiana homeowners insurance can cover: Your dwelling, including walls, foundation, roof, floors, plumbing, and more. opens in new window, Seeking Alpha: Omnichannel CEO Matt Higgins, Kin CEO Sean Harper - focus on macro trends opens in new window, Crains Chicago Business: Insurance startup Kin raises another $35 million opens in new window, Forbes: How vertical integration prevents existential threats to your business opens in new window, Property Casualty 360: Climate change is measurable and manageable We expect to use our strengthened balance sheet to further scale our platform to new geographies, accelerating the growth of our premiums and profitability. The transaction is expected to provide Kin with approximately $242 million of cash at closing, which is in addition to the $80 million raised in the recent Series C financing. 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