Kin Insurance

Kin Insurance is a Chicago-based insurance technology company that insures homes in disaster-prone regions.[1] The company was founded in 2016[2][3] by Sean Harper, Lucas Ward, and Stephen Wooten.

Kin Insurance
IndustryInsurance
Founded2016 (2016)
Founders
  • Sean Harper
  • Lucas Ward
  • Stephen Wooten
HeadquartersChicago, U.S.
Area served
Florida, Texas, Georgia, Alabama
Websitewww.kin.com

History

Kin launched in Florida in spring 2016 in partnership with State National, a property and casualty insurance company.

In 2019, Kin established its own insurance company, the Kin Interinsurance Network (KIN), which is a reciprocal exchange domiciled in Florida.[4][5]

Kin operates as a managing general agent in Florida, Texas, Georgia, and Alabama.[6] The company helps insure homeowners in disaster-prone regions.

Funding

In August 2017, Kin raised a $4 million seed round from Commerce Ventures and Flourish VC.[7] In February 2018, the company raised $13 million in a round led by August Capital.[8]

In August 2019, Kin raised $47 million in funding from August Capital, along with Hudson Structured Capital Management, Avanta, and UChicago Startup Investment Program[9] to launch a home insurance carrier in Florida.[10]

References
  1. "Meet Allstate's newest challengers". Crain's Chicago Business. 2018-02-09. Retrieved 2019-10-26.
  2. "Online insurance startup opens Loop HQ". Crain's Chicago Business. 2019-02-12. Retrieved 2019-11-04.
  3. "Sean Harper from Kin: Simplifying home-owners insurance". WGN Radio - 720 AM. 2017-08-07. Retrieved 2019-10-26.
  4. "Kin raises $47 million and launches homeowner insurance carrier in disaster-prone areas". VentureBeat. 2019-08-27. Retrieved 2019-10-26.
  5. "Insurtech Kin Insurance Expands Homeowners Offering into Georgia". Insurance Journal. 2018-10-02. Retrieved 2019-10-26.
  6. "Insurance startup raises $47 million". Crain's Chicago Business. 2019-08-27. Retrieved 2019-10-26.
  7. "With $4 million in funding, Kin wants to change how homeowners get insured". TechCrunch. Retrieved 2019-10-26.
  8. "Insurance startup Kin raises $13 million". Crain's Chicago Business. 2018-03-05. Retrieved 2019-10-26.
  9. "UChicago invests $500,000 in startup helping insure disaster-ridden regions". University of Chicago News. Retrieved 2019-10-26.
  10. "Kin Insurance Raises $47M to Double Its Team, Underwrite Policies". Built In Chicago. Retrieved 2019-10-26.
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