Friday, February 3, 2023
Green Reporter
  • Home
  • Biodiversity
  • Climate Change
  • Energy
  • Filmmaking
  • Food
  • Investment
  • Management
  • Sustainability
  • Technology
  • Transportation
No Result
View All Result
  • Home
  • Biodiversity
  • Climate Change
  • Energy
  • Filmmaking
  • Food
  • Investment
  • Management
  • Sustainability
  • Technology
  • Transportation
No Result
View All Result
Green Reporter
No Result
View All Result
Home Technology

Home insurance company Kin to go public via SPAC merger

GrR by GrR
July 19, 2021
in Technology
0
58
SHARES
252
VIEWS
Share on FacebookShare on Twitter


Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.

Mike Blake | Reuters

Direct-to-consumer home insurance technology company Kin Insurance is going public through a reverse merger with Omnichannel Acquisition Corp., the company announced Monday. The agreement values Kin Insurance at roughly $1.03 billion.

The company, which currently operates in Florida, Louisiana and California, also announced plans for a national expansion after purchasing an inactive insurer that operates in more than forty states.

Kin’s technology-first approach enables customers to insure homes online within minutes. The company is the only pure-play direct-to-consumer digital insurer within the homeowners insurance market, which is valued north of $100 billion.

The company crunches thousands of data points that it says allows for more accurate pricing and better underwriting results. This also enables it to operate in markets that are subject to growing weather volatility as a result of climate change.

“Access to affordable home insurance is challenging in regions that are impacted by climate change and severe weather; at Kin, our proprietary technology and deep data advantage enables us to best evaluate risk and price home insurance fairly for consumers,” the company said in a statement.

“We are growing fast, generating industry-leading unit economics, and are well-positioned to significantly expand our market share moving forward,” the company added.

Omnichannel Acquisition Corp. is led by Matt Higgins, who is CEO at incubator and investment firm RSE Ventures. Stephen Ross, Jeff Blau and Bruce Beal of Related Companies and golf pro Rory McIlroy are among Kin’s other backers.

Become a smarter investor with CNBC Pro. 
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
Sign up to start a free trial today



Source link

Previous Post

The Impact of Climate Change on Brain Health

Next Post

Germany weighs the human, economic and political damage of the floods

GrR

GrR

Green Reporter is a global source for news of sustainability, green industry, green technology, clear energy, sustainable food production, and green investments. Our aim is to deliver the best news and information to you.

Next Post

Germany weighs the human, economic and political damage of the floods

  • Trending
  • Comments
  • Latest

Climate change in our backyard: Manitoba begins to grapple with the consequences – Winnipeg

August 10, 2021

Repsol starts marketing debut sustainability-linked bond sale

June 29, 2021

Sustainability Ambitions Soaring at KCI

December 6, 2021

Chris Pratt explains where the White Spikes originated

July 3, 2021
Stop burning our rights! What governments and corporations must do to protect humanity from the climate crisis – World

Stop burning our rights! What governments and corporations must do to protect humanity from the climate crisis – World

Biden said to mull dropping corporate tax hike to fund jobs plan

Biden said to mull dropping corporate tax hike to fund jobs plan

Global investors pressure Asian utilities to cut emissions

Global investors pressure Asian utilities to cut emissions

Global inequity could derail path to net zero

Global inequity could derail path to net zero

What’s With A24’s Religious Obsession?

August 12, 2022

Governor Hochul Announces Completion of $16 Million Affordable Housing Development in Monroe County

August 12, 2022

EU ban on Russian coal enters into force

August 12, 2022

Immune system insights and Thai climate calculator: News from the College | Imperial News

August 12, 2022

Recent News

What’s With A24’s Religious Obsession?

August 12, 2022

Governor Hochul Announces Completion of $16 Million Affordable Housing Development in Monroe County

August 12, 2022

EU ban on Russian coal enters into force

August 12, 2022

Immune system insights and Thai climate calculator: News from the College | Imperial News

August 12, 2022

Recent News

What’s With A24’s Religious Obsession?

August 12, 2022

Governor Hochul Announces Completion of $16 Million Affordable Housing Development in Monroe County

August 12, 2022

EU ban on Russian coal enters into force

August 12, 2022

Browse by Category

  • Biodiversity
  • Climate Change
  • Energy
  • Filmmaking
  • Food
  • Investment
  • Management
  • Sustainability
  • Technology
  • Transportation

Follow Us

  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise

© 2021 Copyright Green Reporter

No Result
View All Result
  • Home
  • Biodiversity
  • Climate Change
  • Energy
  • Filmmaking
  • Food
  • Investment
  • Management
  • Sustainability
  • Technology
  • Transportation

© 2021 Copyright Green Reporter