Companies
/
Kin Insurance
Fintech
Kin Insurance is a Chicago-based home insurance company using technology-driven underwriting to offer coverage in catastrophe-prone markets that many traditional insurers have pulled back from.
$731M
+$33.87
526.04%
30 days ago
$6.44
Create an account to view live offerings, pricing, and market activity.
Sign in to view offerings and live market activity.
Sign up with Augment to see the latest market activity.
Kin Insurance was founded in 2016 by Sean Harper and Lucas Ward, entering the home insurance market with a particular focus on catastrophe-prone coastal and coastal-adjacent markets such as Florida, a state that has faced a significant home insurance affordability and availability crisis in recent years as numerous traditional insurance carriers have significantly reduced their exposure in the state or exited entirely, citing the combination of increasingly frequent and severe hurricane and severe weather losses alongside legal and regulatory factors that had made underwriting profitability difficult to achieve in the state. Kin's platform uses more granular, technology-driven underwriting and pricing models, incorporating detailed property-level and geographic risk data, aiming to price policies more precisely based on a specific property's actual risk characteristics rather than broader, less granular risk categories that some traditional insurers have relied on, an approach the company argues lets it profitably serve markets and property types that many traditional carriers have retreated from due to difficulty accurately pricing and managing catastrophe risk at scale. The company operates using a combination of its own insurance carrier subsidiaries and reinsurance arrangements that help spread and manage the significant catastrophe risk inherent to insuring properties in hurricane and severe weather-exposed regions, a critical risk management practice for any insurer operating meaningfully in catastrophe-prone markets. Kin has positioned itself as filling an increasingly important market gap as climate change-related increases in severe weather frequency and severity have made catastrophe risk underwriting more challenging industry-wide, while state insurance markets like Florida's have faced acute capacity shortages that have left many homeowners struggling to find affordable coverage from traditional carriers. The company's customers are homeowners in these underserved, high-risk markets seeking coverage options as traditional carriers have reduced their presence. Kin has raised substantial venture funding from investors including Georgian Partners, Commerce Ventures, and Allegis Capital, reaching a valuation exceeding $1 billion.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
