This communication does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Today, Kin Insurance, an Insurtech with only $25 million in premiums in 2020 and an expected $98 million in 2021, announced its intention to go public today with a valuation of $1 billion. The home insurance industry has been coasting for years on legacy technology and an antiquated way of interacting with customers. opens in new window, Alpha Street: Kin insurances strategy is focused on growing in catastrophe-exposed states Most recently he was Practice Lead for Innovation, Fintech, and Strategic Insights at EY. opens in new window, Kin Insurance receives Chicago honors for its talent and workplace culture Kin offers homeowners, landlord, condo, and mobile home insurance through the Kin Interinsurance Network (KIN), a reciprocal exchange owned by its customers who share in the underwriting profit. Data, Artifical opens in new window, Forbes: Want to build a superteam? opens in new window, Crains Chicago Business: Insurance startup Kin raises another $35 million opens in new window, Forbes: Why cross-functional teams solve problems best The Omni team is already hard at work helping elevate Kins brand presence, expanding Kins acquisition channels and layering in the most cutting-edge acquisition tactics. Once connected with the operator, please provide the conference ID of 13721202., A replay of the call will also be available today from 11:00 am ET to 11:59 pm ET on August 2, 2021. By leveraging proprietary technology, Kin delivers fully digital homeowners insurance with an elegant user experience, accurate pricing and fast, high-quality claims service. Pay Later, Cross-Border These factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement and the proposed Business Combination contemplated thereby; (2) the inability to complete the transactions contemplated by the transaction agreement due to the failure to obtain approval of the stockholders of Omnichannel or other conditions to closing in the transaction agreement; (3) the ability to meet the NYSEs listing standards following the consummation of the transactions contemplated by the transaction agreement; (4) the risk that the proposed transaction disrupts current plans and operations of Kin as a result of the announcement and consummation of the transactions described herein; (5) the ability to recognize the anticipated benefits of the proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) costs related to the proposed Business Combination; (7) changes in applicable laws or regulations; and (8) the possibility that Kin may be adversely affected by other economic, business, and/or competitive factors. opens in new window, Business Insider: Insurtech disruptors report Data to acquire leads, data to price leads, and data to work claims. Topics, Editors opens in new window, Crunchbase: Exclusive: Kin raises $63.9M in Series C funding for data-driven home insurance The website encountered an unexpected error. Their latest funding was raised on Oct 28, 2022 from a Debt Financing round. Use data to your advantage to attract valuable and prospective clients, whether you are exclusively an agency channel, exclusively direct, or a mix. Kin Insurance, Inc. and Omnichannel Acquisition Corp. (NYSE: OCA) enter into business combination agreement; transaction implies an approximate $1.03 billion combined company pro forma enterprise value, Leading direct-to-consumer home insurance technology company that is expected to more than triple written premiums in 2021 and achieve over $400 million of total written premiums by end of 2023, corresponding to a 5-year CAGR of 139%, and to more than quadruple gross profit in 2021 compared to 2020, Significant opportunity to further grow and scale in a vastly underserved market, Direct-to-consumer model, along with scalable technology, that enables lower customer acquisition cost, resulting in a 7.9x LTV/CAC in Kins current markets and superior unit economics, even before factoring in numerous cross-sell opportunities, Simple, personalized digital experience and ongoing engagement ensures optimal customer satisfaction and retention as evidenced by a 92% retention rate and a Net Promoter Score of 85 through the quarter ended March 31, 2021, Proprietary technology automates and optimizes underwriting and a risk selection engine enables more competitive pricing while sustaining lower losses, Best-in-class leadership team with multiple decades of experience in fintech and insurance to ensure a dynamic, multi-faceted approach toward growing Kin. The company currently operates in Florida, California and Louisiana areas that are highly prone to disastrous weather conditions that are worsening with climate change. Skyline Capital and Runway Growth Capital are the most recent investors. opens in new window, Forbes: 12 late-stage interview faux pas that could cost you the job Kin Insurance, a provider of direct-to-consumer insurance solutions, has carved a niche for itself in the industry by making affordable home insurance accessible to customers. In fact, according to their filing, it is 17% better. Interestingly, the SPAC is supported by celebrities such as NBA superstar Draymond Green, golf pro Rory Mcllroy, and cosmetics guru Bobbie Brown, who said that Kin, like her, would reinvent a market. opens in new window, Kin ranked #349 on Inc. 5000 list of "Fastest-Growing Private Companies" Kin and Omnichannel will host a joint investor call regarding the proposed transaction today at 9:00 am ET. opens in new window, Seeking Alpha: Omnichannel CEO Matt Higgins, Kin CEO Sean Harper - focus on macro trends Kin's proprietary technology enables customers to insure their homes in minutes online, bringing convenience to a historically manual process. How to get the most from your teams Transaction includes commitment for $80 million PIPE led by HSCM Bermuda and Senator Investment Group, with participation from Gillson Capital, Park West Asset Management and other institutional investors, New strategic investors include Joe Plumeri, former chairman and CEO, Willis Group Holdings; Stephen Ross, Jeff Blau and Bruce Beal of related companies, the most prominent privately-owned real estate firm in the United States; and Gary Vaynerchuk, CEO of VaynerMedia, Previous Series C investors include NBA all-star Draymond Green and four-time major champion golf pro Rory McIlroy; noth back Kin to raise brand profile across the country. opens in new window, TechCrunch: Live near an ocean? opens in new window, Kin, the only pure-play direct-to-consumer home insurance technology company, to go public We want to hear from you. opens in new window, Demotech affirms Kins Financial Stability Rating of A, Exceptional opens in new window, Forbes: How to successfully identify problems worth solving The transaction will require the approval of the stockholders of Omnichannel and Kin, the effectiveness of a registration statement to be filed with the Securities and Exchange Commission (the SEC) in connection with the transaction, and the satisfaction of other customary closing conditions, including the receipt of certain regulatory approvals. Forward-looking statements may be identified by the use of words such as forecast, intend, seek, target, anticipate, believe, expect, estimate, plan, outlook, and project and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. opens in new window, Actuarial Review: Going insurtech opens in new window, Kin Insurance exceeds 2021 goal for total managed premium, achieves 320% year-over-year growth opens in new window, Insurance Journal: Kin Insurance to offer homeowners coverage in Louisiana J.P. Morgan Securities LLC is acting as exclusive financial advisor to Kin, and Latham & Watkins LLP is acting as its legal counsel. The agreement. Previous Series C investors included NBA All-Star Draymond Green and four-time champion golfer Rory McIlroy. opens in new window, Information Age: A guide to working in the Tampa tech scene Omnichannel, Kin and their respective directors and executive officers may be deemed participants in the solicitation of proxies of Omnichannel stockholders with respect to the proposed Business Combination. opens in new window, Crain's Chicago Business: Insurer Kin lines up $145 million in credit opens in new window, Built In: Home insurtech startup Kin raises $35M plans to hire 100 people Investors and security holders will be able to obtain free copies of the registration statement, proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Omnichannel through the website maintained by the SEC at www.sec.gov. Invest in emotional intelligence Medium Kin has a 92% customer-retention rate and is expecting to more than triple its written premiums in 2021; and to hit more than $400 million in total written premiums by the end of 2023, Harper said . opens in new window, The Future of Insurance: Sean Harper, Kin Insurance The insurtech company announced on Monday its upcoming merger with Omnichannel Acquisition Corp. to be listed as a public company. We will show you prices for many companies with rates that compare to buying direct and work with you to find a plan that you can afford and need. opens in new window, Forbes: In the era of customer experience, chatbots dont always pay opens in new window, Inc: Could you, should you, would you: Questions for hiring corporate misfits Kin Insurance has raised a total of $383.2M in funding over 9 rounds. Kin's technology-first approach enables customers to insure homes online within minutes. opens in new window, Digital Insurance: The best 12 U.S. Insurtech employers, according to Forbes opens in new window, Kin Insurance completes acquisition of carrier with licenses in 43 states We were searching for a digitally fueled business that was going to disrupt a change-resistant industry, said Higgins. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. opens in new window, Forbes: The case for concentrated growth It allows them to manage the messaging and customer experience end-to-end, ultimately leading to higher retention rates of 92% and NPS 85. Sign up for free newsletters and get more CNBC delivered to your inbox. opens in new window, USA Today: Which tech investments can weather volatile markets best? As we look to expand into new markets, we are strategically focused on states where customers need us the most and where our data and technology advantage are the most impactful, Sean Harper, Kins CEO, told Built In via email. The Kin team has leveraged its decades of insurance and FinTech experience to build a capital-efficient company that is experiencing outstanding growth across the board, along with compelling and superior unit economics, said Omnichannel Chairman and CEO Matt Higgins, a serial entrepreneur who co-teaches a Harvard University course on digitally native brands. opens in new window, Carrier Management: Kin Insurance upgrades reinsurance program to beef up disaster protection capacity opens in new window, Insurance Journal: Cat-focused Kin Insurance acquires shell for expansion The show will focus on global macro issues with a middle eastern context, provide expert analysis of major market moving stories and speak with the biggest newsmakers in the region. Press question mark to learn the rest of the keyboard shortcuts Kin launches home and property insurance in South Carolina opens in new window, Inside P&C: Kin proved its model works through its high customer retention: CEO Harper opens in new window, Alpha Street: Kin Insurance CEO Sean Harper: Will expand into new states, enhance portfolio opens in new window, VentureBeat: 5 startup trends that shaped the Midwest in 2018 opens in new window, Forbes: Four ways to amplify your teams creativity Dive, Become Readers are cautioned not to put undue reliance on forward-looking statements, and Omnichannel and Kin assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. opens in new window, Benzinga: With over 200% YOY gross profit growth, this insurtech company says its not done yet Built In Chicago is the online community for Chicago startups and tech companies. 2000 - 2023 Razor Planet, Inc. All Rights Reserved Privacy Policy - Terms Of Use A portion of the funding will be investedin building out Kins product offerings as well as growing its product into more markets. opens in new window, Washington Post: Why your homeowners insurance probably wasnt renewed Any financial and capitalization information or projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Omnichannels and Kins control. opens in new window, American Inno: 12 biggest Chicago startup fundings of 2019 opens in new window, Forbes: Fintech startups: Plan for your customers emotional realities Index, Data opens in new window, Kin again recognized as a "Best Place to Work" by Built In opens in new window, Kin Insurance selects Snapsheet to deploy end-to-end claims management platform He has played a key role in innovating many start-ups and established carriers. opens in new window, Kin Interinsurance Nexus earns Financial Stability Rating of A, Exceptional, from Demotech During the call, they mentioned the capability to dynamically adjust premiums depending on the weather. opens in new window, Kin Insurance announces Series C funding with investment by professional golfer Rory McIlroy and others With S&P 500 down 10% to start the year, Kin Insurance canceled its planned. 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