LAS VEGAS, Oct. 2, 2018 /PRNewswire-PRWeb/ -- Hippo Insurance™ the California-based insurtech company that is transforming home insurance for savvy homeowners, is giving the home insurance industry an overhaul by focusing on proactive insurance and delivering a positive customer experience. As a modern insurance company, Hippo proactively works with customers to put preventative measures in place to help keep a client's property safe.
The need to reshape home insurance into a proactive experience starts with real-time data collection both inside and outside the home. By acting as the connection between data and insights, such as aerial imagery and fire line scoring data, Hippo is giving homeowners an advanced look at their homes. For example, Hippo customers will be alerted if there's a discoloration on their roof, implying a need for roof repairs, or when new wildfire prone brush encroaches on a property line. Hippo partners with AI driven software companies to specifically analyze real-time aerial images of their homes. Having an advanced alert system inside the home is just as valuable.
According to the Insurance Information Institute 30% of home insurance claims in 2016 were from water damage. Industry wide, water is one of the most costly homeowner risk aside from fire loss and so smart home integration is essential to developing proactive insurance. Hippo partners with a host of companies to collect and analyze this type of data and bring customers closer to the information they need to protect their homes for future accidents and costly repairs.
This past May, Hippo and Comcast teamed up to bring Xfinity customers both added discounts and enhanced coverage on their homeowners insurance. Hippo's modernized home insurance policies help Xfinity customers save up to 25% on their annual home insurance premiums with the purchase of a Hippo policy. Each policy also comes with an enhanced smart home starter kit, plus a discount on premiums for protecting a home against risks from fire, water damage, and break-ins.
"Smart home adoption is driving a necessary change in home insurance," said Yuval Harry, Head of Partnerships at Hippo Insurance. "Our focus on preventative insurance means we want to enable all our customers to better protect their homes before significant damage occurs, and providing them with smart home solutions that assist with achieving this goal is a top priority"
Hippo's commitment to smart home has brought on several new partners in the industry over the last quarter. To help customers safeguard items inside their homes, the company recently partnered with Notion, a home monitoring solution powered by a multi-purpose IoT smart home sensor. Now each Hippo customer will be armed with a Notion Smart Home Starter Kit in qualifying states. By integrating with Smart Home device makers, Hippo is creating a better, more transparent and beneficial relationship between the insurance provider and homeowner. For outside the home, Hippo also recently partnered with zesty.ai, a leading Artificial Intelligence (AI) enabled risk analytics platform for Property and Casualty insurance.
Hippo policies more accurately and proactively represent what's inside a typical home today. This includes comprehensive equipment breakdown coverage for the items that traditional home insurance doesn't cover. In addition to IoT and smart home devices, things like your heating and air conditioning systems, hot water heater, appliances, computers and more.
Hippo Insurance and Comcast at Insurtech Connect:
Hippo will speak alongside Smart Home partner Comcast at Insurtech Connect in Las Vegas, on October 2rd. Hippo CEO Assaf Wand and Comcast Senior Director David Wechsler's talk 'The Odd Couple: Smart Home Meet Smart Insurance,' will discuss the battle for the smart home, and how insurance might be the secret weapon.
About Hippo
Hippo is on a mission to transform home insurance for the modern household. Among its many innovations, Hippo allows homeowners to get a quote and purchase home insurance online in 60 seconds or less, save up to 25 percent compared with traditional insurers, and obtain smarter coverage for modern households. This includes protection for possessions like appliances, consumer electronics and home offices. Founded in 2015 by Assaf Wand and Eyal Navon, Hippo made its debut in the insurance marketplace in April 2017, and has raised $39 million to reinvent home insurance through its initial funding rounds. The company is headquartered in Mountain View, California. For more information, visit http://www.myhippo.com.
SOURCE Hippo
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