PALO ALTO, Calif., and ANN ARBOR, Mich., Dec. 10, 2019 /PRNewswire-PRWeb/ -- Hippo, the California-based insurtech company that is transforming home insurance, and Home Point Financial (Home Point), a national mortgage originator and servicer, have teamed up to bring Home Point customers access to modern home insurance.
With Hippo Insurance's efficient online application process integrated directly into the Home Point online mortgage portal, customers can take advantage of home insurance savings and better coverage, with premiums that can be paid directly through their escrow payments. Hippo Insurance is the exclusive home insurance provider offered within Home Point's portal, ensuring that qualifying customers have the opportunity to select the very best coverage available for their properties.
During the partnership's initial phase, Home Point customers purchased policies in all 20 of the states where Hippo Insurance's policies are currently sold. In addition, Home Point customers who have purchased home insurance from Hippo have realized an average savings of $421.00, or 32 percent, versus their previous premiums.
Hippo Insurance saves customers money on their home insurance, with online quotes in under 60-seconds and coverage geared towards today's homeowner. The partnership was formed due to Hippo's unique ability to refocus home insurance back on the customer, including the company's great strides towards providing clients protective coverage through proactive underwriting and smart home integrations. Home Point is able to access the true value of Hippo's technology by matching each quote to specific customers based on their current financial and home financing situation. This greatly reduces the overall work customers need to do to find home insurance tailored to their needs.
Customers can access and manage all aspects of their mortgage payment and escrow process through Home Point's online portal. Home Point built a dedicated home ownership platform within its portal where customers can receive tailored quotes from Hippo Insurance and identify additional services and information to maximize the value of their home. Once Home Point identifies the kinds of services customers need, they use data and smart partners, like Hippo Insurance, to help customers self-serve.
"There is a massive shift happening across financial services to put a laser focus on the individual customer and their respective needs, while promoting the right type of products and engagement," said Brian Brizard, Chief Operating Officer, Home Point Financial. "Hippo is as passionate about customer experience as Home Point, and so it's our aim, together, to provide all the additional value borrower's need as they manage what's often the most important financial purchase of their lives. We deeply investigated home insurance providers for their customer experience, tailored coverage, pricing and technology before landing on Hippo, truly the best in-class solution for businesses like Home Point Financial and customers alike."
Hippo and Home Point's partnership signifies the larger changes happening in the home buying and selling markets today, as companies look to embed simpler transactions for their customers and provide them with potentially lower priced options by offering a wide array of services including mortgage lending and insurance.
"Hippo is building the future of home insurance with a partner ecosystem that is helping to shape the future of home buying and home ownership," said Yuval Harry, Vice President, Partnerships, Hippo. "In order for the services that surround buying a home to work together, providers like Hippo and Home Point must help customers bring both lending and insurance purchase-points closer together. This collaboration is an excellent example of how technology can work together to create happy customers across multiple states."
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 $209 million to reinvent home insurance. The company is headquartered in Palo Alto, California with offices in Dallas and Austin, TX the company's insurance headquarters. For more information, visit http://www.myhippo.com.
About Home Point Financial
Home Point Financial is a national mortgage originator and servicer. With the goal of providing a superior customer experience, Home Point has an innovative approach to lending, focusing on speed, quality and consistency for customers and partners. Home Point's operating philosophy is defined by the simple but very impactful statement – "We Care."
Located in Ann Arbor, Mich., Home Point Financial is a subsidiary of Home Point Capital LP, a financial services holding company founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital LLC. For further information about Home Point Financial, please visit https://www.homepointfinancial.com.
SOURCE Hippo Insurance
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