Insurtech Kin has announced that the Kin Interinsurance Network and Kin Interinsurance Nexus Exchange have finalized their reinsurance programs for June 1, 2024, through May 31, 2025, under favorable economic terms.
Kin’s reinsurance program ensures prudent risk management. It provides coverage for catastrophic events that exceed regulatory and rating agency requirements.
Kin’s Florida reinsurance program secures $1 billion in coverage for natural catastrophes, protecting against a one-in-160-year first-event loss.
The non-Florida reinsurance program offers $140 million in coverage, exceeding required rating agency standards. The renewed program is backed by over 35 leading reinsurers, all rated A- or higher by AM Best or fully collateralized.
Kin’s reinsurance program enhances its ability to offer reliable insurance for homeowners affected by climate change.
We’re pleased to have completed our reinsurance program responsibly. Our reinsurance partners’ support validates our data-driven underwriting and claims handling.
Angel Conlin, Kin’s chief insurance officer
Kin aims to make insurance more cost-effective and streamlined, improving customer experience, especially in vulnerable areas. The company recently reported a 49% year-over-year growth in premiums for Q1 2024 and increased market diversification outside Florida.
Kin is the direct-to-consumer digital insurer focused on the growing homeowners insurance market. Kin makes homeowners insurance more convenient and affordable by eliminating the need for external agents.
Kin’s technology platform delivers a seamless user experience, customized options for coverage, and fast, high-quality claims service.
