Hippo Announces Mortgage Partner Channel and Launches Proactive Home Protection in Massachusetts
June 22 2022 - 9:00AM
Business Wire
- Hippo’s mortgage partners now service more than 7 million
customers combined annually
- Hippo products currently reach 94% of the U.S. population in 40
states
- Hippo’s end-to end process allows customers to purchase
insurance in as little as four minutes
Hippo (NYSE: HIPO): Hippo Insurance Services today announced the
expansion of its mortgage partner channel, as well as availability
of its home insurance products in Massachusetts. Hippo provides
loan originator and servicer partner’s customers with a seamless
home insurance purchasing experience. More than a dozen mortgage
lenders and servicers now combine to help over 7 million customers
nationwide that finance their homes each year.
Home insurance is a critical step in the mortgage purchase
process, with 80% of buyers needing financing, and 100% of lenders
requiring proof of home insurance coverage before closing. Hippo’s
mortgage partner channel provides each lender’s customers with a
simple and fast way to purchase modern home insurance coverage.
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.
“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.”
Hippo products are becoming increasingly available across the
U.S., currently reaching 94% of the U.S. population in 40 states
with the addition of Massachusetts. 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.
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.”
Hippo is transforming the home insurance industry with
proactive, consumer-focused products and services. To learn more
about Hippo’s insurance offerings or to get a quote, visit
hippo.com.
About Hippo
Hippo is protecting the joy of homeownership, helping to
safeguard customers’ most important financial asset by harnessing
the power of real-time data, smart home technology, and a growing
suite of home services to deliver proactive home protection.
Hippo Holdings Inc. operating subsidiaries include Hippo
Insurance Services, Hippo Home Care, First Connect Insurance
Services, Spinnaker Insurance Company, Spinnaker Specialty
Insurance Company, and Mainsail Insurance Company. Hippo Insurance
Services is a licensed property casualty insurance agent with
products underwritten by various affiliated and unaffiliated
insurance companies. For more information, including licensing
details, visit http://www.hippo.com.
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Mark Olson / Courtney Klosterman press@hippo.com
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