Insurance

5 things agents wish people knew about insurance

6 hours ago

Insurance is notoriously complicated, and few people have the time or desire to pore over their policies. But some basic knowledge can go a long way — and that’s where an insurance agent can help, by clearing up some of the most common misconceptions they encounter.

Here are five things agents say are helpful for customers to know.

1. INSURANCE DOESN’T COVER EVERYTHING

When it comes to insurance, “Most people don’t understand the details,” says Andrew McGill, agent at The Insurance Shoppe in Collierville and Nashville, Tennessee. For instance, they often don’t realize that most homeowners policies won’t cover flood

… Read More

Hippo to Go Public in Merger with Reinvent Technology Partners Z; Company is Transforming the Home Insurance Industry

12 hours ago

PALO ALTO, Calif.–(BUSINESS WIRE)–Hippo Enterprises Inc. (“Hippo”), the home insurance group that created a new standard of care and protection for homeowners, has entered into a definitive business agreement with Reinvent Technology Partners Z (“Reinvent”) (NYSE:RTPZ), a special purpose acquisition company (“SPAC”) that takes a “venture capital at scale” approach. Upon the closing of the transaction, the combined company will be publicly traded.

Hippo: A Protective, Modern Approach to Home Insurance

Founded in 2015, Hippo’s goal is to make homes safer and better protected by taking a proactive approach designed to prevent losses. Harnessing real-time data, smart home

… Read More

Insurance Startup Hippo to Go Public in $5 Billion SPAC Merger

18 hours ago

Home-insurance technology upstart Hippo Enterprises Inc. is teaming with a special-purpose acquisition company to go public, the latest insuretech business to tap equity markets and challenge traditional insurers head-on.

The six-year-old Hippo, based in Palo Alto, Calif., will go public through a merger with

Reinvent Technology Partners Z

RTPZ 2.39%

in a deal that values the firm at $5 billion, the companies said. Reinvent Technology Partners Z had an initial public offering of stock in November.

Reinvent’s co-directors are LinkedIn co-founder

Reid Hoffman

and

Mark Pincus,

founder of mobile-game maker

Zynga Inc.

Hippo’s move will provide funding as it continues

… Read More

Private Insurance Wins in Democrats’ First Try at Expanding Health Coverage

1 day ago

Democrats spent much of the 2020 presidential primary debating the best way to expand public health insurance. They sparred over whether to enroll everyone in public coverage — the preferred policy of Senator Bernie Sanders — or to give everyone a choice to do so, the public option plan that President Biden supports.

The candidates repeatedly proposed a future in which private insurers play a diminished role in the American health system — or no role at all.

But the first major legislation of the Biden administration, if it passes in the Senate, moves in the opposite direction: It proposes

… Read More

Insurance Giant Aon Is Testing the Waters of DeFi

2 days ago

Insurance broker Aon is dipping a toe into decentralized finance (DeFi).

Announced Wednesday, the world’s second-largest insurance intermediary has embarked on a pilot with Nayms, an insurtech platform that allows cryptocurrency holders to provide decentralized insurance cover against losses due to hacks or buggy software.

Also involved in the project are Relm Insurance, a Bermudian insurer that specializes in digital assets, and Teller Finance, an automated matchmaker between investors’ assets and crypto risk liabilities.

“The Nayms platform puts the tool of smart contracts in the hand of regulated underwriters (like Relm) and brokers (like Aon), to open up a new

… Read More

Home Insurance Agency Hippo to Go Public in $5B SPAC

2 days ago

Hippo Enterprises said it will go public through a merger with a blank-check firm, backed by Silicon Valley heavyweights Reid Hoffman and Mark Pincus, in a deal that gives the merged entity a pro forma enterprise value of $5 billion.

Founded in 2015, Palo Alto-based insurance technology startup Hippo sells homeowners insurance online. It raised $350 million at a valuation of around $1.65 billion in its latest funding round last November, according to data from Pitchbook.

The deal with special purpose acquisition company (SPAC) Reinvent Technology Partners Z will include a private investment of about $450 million.

Hippo acquired home

… Read More