Work Here?
Kin Insurance
Work Here?
Direct-to-consumer coastal homeowners' insurance provider
Kin Insurance
Work Here?
Direct-to-consumer coastal homeowners' insurance provider
About Kin Insurance
Industries
Fintech
Financial Services
Company Size
501-1,000
Company Stage
Debt Financing
Total Funding
$1.4B
Headquarters
Chicago, Illinois
Founded
2016
Overview
Kin Insurance provides home insurance directly to homeowners, with a focus on coastal areas, offering affordable and straightforward coverage. It sells policies directly to consumers (no brokers or agents), uses technology and data to tailor coverage and pricing, and aims to simplify the buying process. The product works by underwriting home insurance policies, collecting premiums, and continuously updating offerings to stay affordable and relevant. This direct-to-consumer model, along with personalized service and transparent processes, differentiates Kin from traditional insurers that rely on middlemen. Kin’s goal is to make home insurance accessible, easy to understand, and affordable for homeowners, especially those in high-risk coastal regions, while maintaining customer-centric support.
Simplify's Take
What believers are saying
- FY 2025 revenue surged 29% to $201.6M with 49% baseline operating margin.
- Secured $335M Hestia Re cat bond in 2026, largest issuance covering multiple states.
- Expanded to 14 states including Oklahoma on April 16, 2026, capturing 50% TAM.
What critics are saying
- Lemonade undercuts Kin's pricing by 20% in Texas and Florida, eroding auto attachment rates.
- 2026 Florida hurricane exceeds $335M Hestia Re capacity, forcing premium hikes and non-renewals.
- California FAIR Plan mandates reject 15-20% rate increases, forcing unprofitable wildfire risks.
What makes Kin Insurance unique
- Kin leverages thousands of property data points for granular underwriting in catastrophe-prone states.
- Direct-to-consumer model eliminates agents, enabling average customer savings over $980.
- Manages Kin Interinsurance Network, a customer-owned reciprocal exchange sharing underwriting profits.
Help us improve and share your feedback! Did you find this helpful?
Funding
Total Funding
$1.4B
Above
Industry Average
Funded Over
8 Rounds
Benefits
Medical, dental, and vision
Life & disability
Commuter benefits
401k
Education & professional development
Flexible PTO
Company provided lunch
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 1%Kin Insurance has successfully priced its fourth catastrophe bond, Hestia Re Ltd. Series 2026-1, securing $335 million of fully-collateralised named storm reinsurance. This marks Kin's largest cat bond issuance to date and its first to provide protection beyond Florida. The insurtech initially targeted $300 million but upsized the offering during marketing. The bond comprises four tranches with pricing finalised below initial guidance for most notes. The Class A and B tranches of $100 million each priced at 7% and 9.25% respectively, whilst the Class D tranche reached $100 million at 5.75%. The one-year Class C tranche was upsized to $35 million, pricing at 74% of par. The reinsurance will cover named storms on an indemnity trigger basis, with risk periods beginning in June. Bermuda-based special purpose insurer Hestia Re will issue the notes to investors.
Kin Insurance has reported full-year 2025 revenue of $201.6 million, up 29% year-on-year, with gross written premium reaching $634.4 million. The direct-to-consumer home and auto insurance provider achieved a record baseline operating margin of 49%, with baseline operating income climbing 116% to $68.6 million. The Chicago-based company expanded into auto insurance in Texas and Florida and launched home financing services in Florida during 2025. These new products achieved approximately 10% attachment rates among existing customers with minimal marketing costs. Kin's managed reciprocal exchanges delivered a combined adjusted loss ratio of 20.7% for 2025, benefiting from strong risk selection and favourable weather conditions. The company now operates across 13 states, representing 50% of the home insurance total addressable market.
Funding to accelerate growth, expand products.
Kin Insurance raised a $50M Series E at a $2 billion valuation to expand its digital home insurance offerings, addressing increased extreme weather risks. The funding, led by QED Investors and Activate Capital, adds to a $200M debt facility, providing $105M in new capital. Kin, profitable since 2023, serves 13 states and covers over $100 billion in insured property value. The company aims to fill gaps left by traditional insurers in high-risk areas.
Designed with Colorado in Mind, Kin Offers the Protection Needed at a Price That Makes SenseCHICAGO, June 17, 2025 /PRNewswire/ -- Kin , the pioneering, direct-to-consumer, digital home insurance provider, today announced its expansion into Colorado1. Kin brings Colorado homeowners a new home insurance option that combines technology and data with personalized service to deliver accessible, affordable protection. This growth into the Colorado market furthers Kin's mission to provide necessary coverage in underserved markets increasingly affected by weather events.Colorado's geography and weather patterns require insurance solutions that truly reflect the state's diverse landscape. From the Front Range's distinctive hail patterns to the mountains' wildfire considerations, and the plains' severe weather, Colorado homeowners deserve coverage designed specifically for their environment. The state experienced a 159% increase in billion-dollar-loss weather events in recent years due to droughts, wildfires, and freezing according to NOAA data .To meet these challenges, Kin's data-driven approach analyzes thousands of property-specific factors to provide accurate, fair pricing that accounts for each home's actual risk profile. This helps ensure homeowners' coverage needs are met based on their home's features and risks."Colorado homeowners deserve insurance that is as unique as the local landscape," said Sean Harper, CEO and Founder of Kin
Kin Insurance is Hiring for 19 Jobs on Simplify!
Find jobs on Simplify and start your career today
About Kin Insurance
Industries
Fintech
Financial Services
Company Size
501-1,000
Company Stage
Debt Financing
Total Funding
$1.4B
Headquarters
Chicago, Illinois
Founded
2016
Kin Insurance is Hiring for 19 Jobs on Simplify!
Find jobs on Simplify and start your career today