Kin reaches $100 billion in total insured property value

By Isha Marathe

May 1 - (The Insurer) - Chicago-based homeowners insurtech Kin grew its total insured value from $10 billion to $100 billion between 2021 and 2024.

Over the four-year period, the reciprocal exchanges managed by Kin decreased their gross adjusted loss ratio, net of excess of loss recoveries, from 66.6% to 25.9%.

"Reaching $100 billion in insured property value represents a pivotal moment in Kin's journey," said Sean Harper, co-founder and CEO of Kin.

"It's proof that our approach to home insurance, combining cutting-edge proprietary technology with differentiated, customer-centered services, resonates deeply with homeowners across the country."

In 2021, 95% of Kin's total insured property value was concentrated in Florida. As of 2024, Florida represented 75% of total insured property value, a result of Kin's geographic expansion and risk diversification strategy.

Additionally, the company launched operations in multiple catastrophe-exposed states, including California, while maintaining its commitment to insuring underserved homeowners.

"Reducing geographic concentration enhances portfolio resilience and manages risk," said Angel Conlin, chief insurance officer at Kin.

"We diversified while still growing in our core markets."

In March, Kin Interinsurance Network, one of the reciprocal exchanges managed by Kin, closed a $300 million catastrophe bond transaction through Hestia Re Ltd, marking its third foray into the insurance-linked securities market, The Insurer reported.