Digital home insurance provider Kin has surpassed $100 billion in total insured property value, a milestone that highlights the company’s growth in consumer based and increased profitability.
Over the past four years, Kin has demonstrated substantial growth, increasing its total insured value (TIV) from $10 billion to $100 billion while simultaneously strengthening its financial foundation.
Notably, the reciprocal exchanges managed by Kin decreased their gross adjusted loss ratio, net of excess of loss recoveries, from 66.6% to 25.9%, underscoring improvements in underwriting performance, pricing sophistication, and risk selection.
Sean Harper, co-founder and CEO of Kin, said: “Reaching $100 billion in insured property value represents a pivotal moment in Kin’s journey. It’s proof that our approach to home insurance — combining cutting-edge proprietary technology with differentiated, customer-centred service — resonates deeply with homeowners across the country.
“We appreciate the individuals and families who trust Kin to protect their most valuable assets and look forward to serving them and many more for decades to come.”
In 2024, in parallel with TIV growth, Kin-managed reciprocal exchanges achieved positive adjusted net income, reflecting strong operational execution and a sustainable business model that aligns with policyholders interests.
In 2021, Kin’s insured property value was heavily concentrated in Florida, accounting for 95% of the total. By 2024, this figure had decreased to 75%, directly reflecting the success of the company’s geographic expansion and risk diversification strategy.
Kin also successfully launched operations in multiple catastrophe-exposed states, including California, while maintaining its commitment to insuring underserved homeowners.
Angel Conlin, Chief Insurance Officer, commented: “Reducing geographic concentration enhances portfolio resilience and manages risk. We diversified while still growing in our core markets. With weather volatility rising in many areas of the United States, more and more customers need Kin.”
