Kin, the direct-to-consumer home insurance company created for each new normal, today announced some preliminary results surrounding Hurricane Ian, the Category 4 storm that made landfall in
To date, Kin has received approximately 6,800 claims, which will result in an overall gross ultimate loss well below its
“Between our strong reinsurance program and our continued investments in technology, operations, people and partnerships, we were well prepared to deal with a major disaster like Ian,” said
As a reliable and financially stable carrier, Kin has taken a very proactive and technology-driven approach to supporting policyholders and triaging claims:
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Forecast track of Hurricane Ian: Kin used geospatial data from
National Hurricane Center and other sources and overlaid it with its business volume to better understand how customers would be affected by the storm. Kin ultimately had 23,819 insured risks in the wind field footprint with wind speeds of 50 mph or more. - Insured persons alerted: Kin triggered its automated pre-event text messages to customers who would be vulnerable to damage, and provided them with personalized resources and guidance to keep themselves and their property safe.
- Well-being assessments carried out: 80,000 wellness check text messages were sent to customers based on their location and wind speed. With a response rate of over 50%, Kin checked the safety of its policyholders, received real-time updates on the ground impact of the storm, and began claims quickly via online submission, a phone call or text message for people with low bandwidth. environments.
- Aerial images used: Kin used images captured by planes flying after the storm to analyze 40,000 insured locations. Because many customers were evacuated, this allowed Kin to initiate the claims process much more quickly, unlike traditional insurers who have to wait longer before sending adjusters to assess damages.
“Technology and data science are really important in insurance, and they’re central to everything we do to help customers and meet them where they are,” said
Harper added, “The aftermath of a storm is when it’s most important for us to connect with our customers; they really appreciate our proactivity in our communication. Being proactive also helps us get ahead of the claims process and find solutions for clients before predatory attorneys and other third parties get involved, which, unfortunately, is why the
Kin continues to accept notices of claim from affected policyholders and the quickest way to get started is to submit them to kin.com/claims or call 866-204-2219.
About Kin
Kin is the home insurance company for every new normal. By leveraging proprietary technology, Kin offers fully digital home insurance with an elegant user experience, accurate pricing, and fast, high-quality claims service. Kin offers homeowners, landlords, condominiums and mobile homes insurance through the Kin Interinsurance Network (KIN), a reciprocal exchange owned by its customers who share underwriting profits. Due to its efficient technology and direct-to-consumer model, Kin offers affordable pricing without compromising coverage. To learn more, visit https://www.kin.com.
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Source: Kin