Kin Insurance

Kin Insurance, Inc. is a US technology and insurance company founded in 2016 and headquartered at 222 Merchandise Mart Plaza in Chicago, Illinois. It sells home insurance directly to consumers through an online platform that uses property data to pre-fill applications, recommend coverage and price policies, allowing a quote to be generated from a property address. Coverage is issued through Kin's affiliated carriers, the Kin Interinsurance Network and the Kin Interinsurance Nexus Exchange — reciprocal exchanges owned by their policyholders, who share in underwriting profit — with a separate entity, Kin Insurance Services, handling California business. Both carriers hold a Financial Stability Rating of A, Exceptional, from Demotech, Inc., and are backed by more than 40 reinsurers rated A- or higher by AM Best or fully collateralized.

The product line spans homeowners, mobile and manufactured home, condo (walls-in) and landlord insurance, plus auto insurance and home-lending products including mortgages, mortgage refinancing, home equity loans and HELOCs. Customers can either self-serve online or work with licensed agents, and Kin operates support, sales and 24/7 claims phone lines alongside a customer portal for policy servicing and claims filing. Kin operates digitally rather than through branch offices; in addition to the Chicago headquarters, the Kin Interinsurance Network maintains a principal office in St. Petersburg, Florida.

Kin positions itself on covering catastrophe-exposed regions that larger insurers have pulled back from, using data and artificial intelligence to underwrite in high-risk areas. Wikipedia lists home insurance availability in Florida, Alabama, Arizona, Georgia, Louisiana, Mississippi, South Carolina, Tennessee, Texas and Virginia.

Founding story

Kin Insurance, Inc. was established in 2016 by Sean Harper, Lucas Ward and Sebastian Villarreal, who had previously built and sold financial technology businesses to Groupon, Insight Venture Partners and Avant. The founders' premise was that home insurance applications were unnecessarily complex and that property data could replace much of the information homeowners are asked to supply.

Business model

Kin distributes home and related property insurance direct-to-consumer online, avoiding traditional broker distribution and physical branches, and underwrites through affiliated reciprocal exchange carriers (Kin Interinsurance Network and Kin Interinsurance Nexus Exchange) that are owned by policyholders and cede catastrophe risk to a panel of more than 40 reinsurers. The company also offers adjacent homeowner financial products such as mortgages, refinancing, home equity loans and HELOCs, and auto insurance.

Revenue derives from premiums written through Kin's carrier partners; the company reported $227.5 million in gross written premium for 2022, up 117% year over year, with a stated cumulative customer lifetime value to customer acquisition cost ratio of 9.6x and a 2022 premium renewal rate of 112%.

Traction

Kin reports 240,000+ policies bound and over 200,000 customers, 750+ employees nationwide, average reported customer savings of $989, a 4.7/5 average customer service satisfaction score and 9,000+ five-star online reviews. For 2022 it reported $227.5 million in gross written premium (117% year-over-year growth), a 2.2x revenue increase, an adjusted loss ratio net of excess-of-loss recoveries of 49.2% on the reciprocal exchange (a 25% improvement over 2021), a record-low non-CAT adjusted loss ratio of 28.6% in Q4 2022 and 35.1% for the year, and a Q4 2022 premium renewal rate of 120%.

Latest developments

In September 2025 Kin announced an oversubscribed US$50 million Series E financing at a US$2 billion pre-money valuation, co-led by QED Investors and Activate Capital with participation from other new and returning investors, roughly doubling its prior $1.1 billion valuation and bringing total primary equity raised to US$286 million. Proceeds are directed at expanding availability of home insurance across the United States, including markets where incumbent insurers are retrenching.