Top 10 cutting-edge home and rental insurtechs
With reference to FT Partners research, and in no particular order, FinTech ranks 10 of the best home and rental companies in the insurtech space today.
10 | The Guarantors
The Guarantors is making notable headway in the insurance industry. The insurtech company seeks to create innovative products for residential and commercial real estate professionals, and their respective residents and tenants. It has a faster list-to-lease time than most competitors in the market, with just 22 days.
The company reflects: “This is not the landlord-tenant relationship as it's always been, but where it needs to be.”
9 | Bamboo
Bamboo is a newly-formed organisation that boasts the backing of some of the largest carriers in insurance. The California-based company has been recognised on the Inaugural InsurTech 100 List, and is certainly one to watch in the coming years.
Bamboo recently featured in our report on one of its partner companies: Code blue. Read it here.
8 | Lemonade
Lemonade is the New York-based insurtech that uses artificial intelligence, chatbots and other innovative technologies to disrupt the home and rental insurance sectors. It recently appeared in FinTech magazine’s Top 10 Unicorns list, which provided a comprehensive snapshot of those most innovative companies to achieve this coveted status.
Lemonade is leading the way thanks to Maya, its own chatbot. Maya uses AI technology to create and deliver personalised insurance policies, and handle claims, for customers without requiring insurance brokers. Or, as Lemonade explains it: “the perfect coverage for you. It couldn’t be easier, or faster”.
7 | Sagesure
Sagesure is a subsidiary of Insight Catastrophe Group, and one of the older insurtechs featured in our top 10. Founded in 2005, it provides insurance for customers in challenged areas. It does this by partnering with highly rated insurance carriers in order to serve the needs of respective markets. Most of the team has over thirty years of experience in insurance and technology, and are working to innovate in the insurtech space as it designs, develops and files its own proprietary homeowner products.
6 | Hippo
Hippo is a home and contents insurtech based in Palo Alto, California. It uses AI and big data in order to aggregate and analyse property information, and sells insurance policies directly to customers and through independent insurance brokers. Hippo was founded in 2015 by Assaf Wand, a former Intel Capital investor and McKinsey consultant, and entrepreneur Eyal Navon, and currently operates across a majority of east coast and west coast states, as well as Texas and Minnesota.
5 | One Insurance
One insurance is a team of insurance experts, entrepreneurs, and engineers reshaping how people experience insurance, through its digital platform. One product launched by the German insurtech is ONECoach; an everyday optimisation tool that tracks habits, data and location in order to suggest the best policy for users in the event of damage.
One exciting feature that One Insurance is soon to introduce is travel insurance that can be easily logged via the app for trips away. It will be designed to automatically end when a traveller return to their home country.
4 | Jetty
Another company fresh to the insurtech scene is Jetty, which was launched in 2017.
Headquartered in New York, the company is designed for “everyday renters,” assisting both property owners and renters with a more streamlined and cost-effective process. The company openly calls-out the outdated functionality of the insurance industry, and seeks to provide digital services for 21st-Century cities.
3 | Matic
Matic Insurance Services is a digital insurance agency situated in Columbus OH, US. It specialises in assisting both lenders and loan officers in better integrating homeowner’s insurance into lending. The insurtech claims to provide multiple policy options in seconds, changing the game for loan officers.
2 | Kin
Chicago based insurtech kin specialises in insuring homes in disaster-prone regions in the US. First founded in 2016 by Sean Harper, Lucas Ward, and Stephen Wooten as a property and casualty insurance company, it launched in Florida in the same year, and in 2019 it established its own insurance company in the Kin Interinsurance Network (KIN), which is a reciprocal exchange domiciled in Florida. The company serves as a managing general agent in Florida, Texas, Georgia, and Alabama.
1 | Policy Expert
Self titled as “the friendly insurance experts,” Policy Expert is one of the fastest-growing home insurance providers in the UK. First launched in 2011, the company focuses on customer centricity, and it has the credentials to back this up. Today it has over 600,000 customers and has won a number of accolades such as: Insurance Choice Award for Best Home Insurance Provider; Winners in the Service category for Home Insurance for the Compare the Market Simples Awards; and rated the Number 1 rated home insurer, 2013 - 2020 from review centre.