Digital insurer, Kin has announced its expansion into South Carolina.
The insurer is set to enter the US state, where it will offer a seamless way for homeowners and landlords to protect their most valuable assets, despite being exposed to several risks.
South Carolina’s proximity to the Atlantic Coast makes it extremely vulnerable to extreme weather. It ranks among the top 10 states for hurricane risk and has a nearly 80% chance of being affected by a tropical system each year.
Due to the nature of the average size of a tropical system being approximately 300 miles in diameter, this means that more than five million residents are susceptible to high winds, heavy rain, and tornadoes.
The digital insurer, combines proprietary technology with personalized, high-touch assistance to customize policies that suit its customer’s needs.
Moreover, by factoring in property records, permit data, and aerial imagery, among various other sources, Kin is able to gain the best possible understanding of the physical properties of homes and how they will be impacted by extreme weather.
This technology that Kin is able to offer helps customers receive the right coverage for the right price.
Kin also confirmed that South Carolina will be the first state where it is is offering coverage through its new reciprocal exchange, which has a Financial Stability Rating of A, Exceptional, from Demotech.
Sean Harper, CEO of Kin, commented: “We can’t change the weather in South Carolina, but we can save people substantial time, stress, and money when it comes to protecting their home.
“Our technology enables us to reduce and even eliminate many of the steps and expenses associated with traditional ways of doing business in the insurance industry. From quote to claim, everything we do is designed to deliver the best possible experience for the customer.”
