opens in new window, Kiplinger: How to protect your home from natural disasters A month after canceling its SPAC deal, Chicago startup Kin Insurance is raising new funding as it prepares to bring its home insurance product to more states. 1 That right there is 98%. Kin's technology-first approach enables customers to insure homes online within minutes. opens in new window, Kin gives Floridians new insurance discounts following passage of assignment of benefits bill The Boards of Directors of each of Omnichannel and Kin approved the transaction. opens in new window, Forbes: 12 late-stage interview faux pas that could cost you the job opens in new window, Kin announces $82M first close in Series D financing Kin's proprietary technology enables customers to insure their homes in minutes online, bringing convenience to a historically manual process. Omnichannel Acquisition Corp. (NYSE:OCA) and direct-to-consumer homeowners insurance technology company Kin Insurance announced this afternoon that they have opted to mutually terminate their business combination agreement. opens in new window, NerdWallet: The best home insurance companies for 2022 Investors may listen to a pre-recorded call regarding the proposed business combination today at 9:00 am ET. We believe Kin is well positioned to capitalize on that unmet demand for years to come.. Because Kin has eliminated the need for an external agent and has replaced antiquated insurance technology with modern, more efficient technology, Kin can offer attractive pricing to customers without sacrificing margins. What they dont realize is that you are continuously innovative and have the confidence and experience to build long-term relationships with your agents, partners and customers. opens in new window, Bankrate: Factors that impact your home insurance rate As COVID-19 necessitated a digital-first approach to everything, consumers relationships with insurance companies changed as well, and they put an increased value on medical and life insurance during the pandemic lockdowns. Kins proprietary technology enables customers to insure their homes in minutes online, bringing convenience to a historically manual process. opens in new window, Crains Chicago Business: Insurance startup Kin raises $13 million Future customer needs such as making a policy change or filing a claim are similarly automated and convenient. Your email address will not be published. Payments, Grocery Kin Insurance and Omnichannel Acquisition Corp., a publicly traded special purpose acquisition company, announced that they have mutually agreed to terminate their previously announced agreement and plan of merger as a result of "current unfavorable market conditions." "We worked tirelessly over the better part of a year to bring this combination to . The investor presentation lays out Kin Insurance as being built for the digital era with competitors stuck in the past. Such forward looking statements include estimated financial information, including insurance premium run-rate and enterprise software revenue. Skyline Capital and Runway Growth Capital are the most recent investors. A PYMNTS study, New Payments Options: Why Consumers Are Trying Digital Wallets finds that 52% of US consumers tried out a new payment method in 2022, with many choosing to give digital wallets a try for the first time. opens in new window, Bloomberg: Kin Insurance to go public via Matt Higgins SPAC deal opens in new window, Kin closes first-ever $175M multi-year catastrophe bond opens in new window, Kin Insurance continues rapid growth trajectory in third quarter 2021 opens in new window, Chicago Inno: Kin Insurance raises $82M after canceling SPAC deal opens in new window, USA Today: The tech bubble has burst, experts say, but you might be able to pick up some discounts | Insurance technology (InsurTech) company Kin is merging with the special purpose acquisition company (SPAC) Omnichannel Acquisition Corp. to go public on the NYSE under the ticker symbol. opens in new window, Fortune: The downfall of the SPAC: Why one CEO called it quits and more will follow J.P. Morgan Securities LLC is acting as exclusive financial advisor to Kin, and Latham & Watkins LLP is acting as its legal counsel. opens in new window, Kin Insurance surpasses $70M in gross written premium in second quarter, increasing 204% year-to-date Live from Dubai, connecting Asian markets to the European opens. To access the replay, the domestic toll-free access number is (844) 512-2921 and participants should provide the conference ID of 13721202.. opens in new window, Crain's Chicago Business: Insurance startup raises $47 million Before making any voting or investment decision, investors and security holders are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed Business Combination as they become available because they will contain important information about the proposed transaction. opens in new window, Money: I fought an insurance company in a slip-and-fall case. Kin Insurance Plans to Go Public Through $1.03B SPAC Merger, Natures Fynd Raises $350M to Bring Its Meatless Food to Market. Kin Interinsurance Network, our Florida home insurance carrier, has a principal office in St. Petersburg, Florida, and our NAIC number is 16603. Get this delivered to your inbox, and more info about our products and services. Get in touch with us for all press and speaker inquiries. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. opens in new window, Alpha Street: Kin Insurance CEO Sean Harper: Will expand into new states, enhance portfolio Kin's technology-first approach enables customers to insure homes online within minutes. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Risk Factors section of Omnichannels Annual Report on Form 10-K, and other documents filed by Omnichannel from time to time with the SEC and the registration statement on Form S-4 and proxy statement/prospectus discussed above. Omnichannel stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Omnichannel Acquisition Corp. and their ownership of Omnichannels securities in Omnichannels final prospectus relating to its initial public offering, which was filed with the SEC on November 23, 2020 and is available free of charge at the SECs website at www.sec.gov, or by written request to: Christine Pantoya, Chief Financial Officer, Omnichannel Acquisition Corp., 485 Springfield Avenue #8, Summit, New Jersey 07901. opens in new window, Kin Insurance awarded Built In's 2021 "Best Midsize Companies to Work For" opens in new window, Were proud to be recognized as an industry leader and innovator, Kin named to Forbes' "Next Billion-Dollar Startups" list 2022 articles a month for anyone to read, even non-subscribers! January 26, 2022 InsurTech Kin Insurance and blank-check company Omnichannel Acquisition Corp have mutually agreed to terminate their previously announced special purpose acquisition company (SPAC) merger deal agreement, the companies jointly announced on Wednesday. Deep opens in new window, Kin named one of Tracxn's "Top Emerging Internet First Insurance Startups" That notwithstanding, they use data specifically to enhance their acquisition and book performance. Please reach out if you want to discuss Kin or some of the advances you could use to guarantee your continued growth and success. Forbes: In the era of customer experience, chatbots dont always pay, Crain's Chicago Business: Insurance startup raises $47 million, VentureBeat: Kin raises $47 million and launches homeowner insurance carrier in disaster-prone areas, Inc: Could you, should you, would you: Questions for hiring corporate misfits, Forbes: In hyper-growth mode? opens in new window, TechCrunch: Can data fix healthcare? opens in new window, Forbes: 10 startups leading the way in customer experience As, pproach to everything, consumers relationships with, PYMNTS Kin offers homeowners, landlord, condo, and mobile home insurance through the Kin Interinsurance Network (KIN), a reciprocal exchange owned by its customers who share in the underwriting profit. a Get comfortable with rejection The SPAC Deal: Kin Insurance announced a SPAC merger with Omnichannel Acquisition Cop (NYSE:OCA) valuing the company at a pro forma enterprise value of $1.03 billion. opens in new window, University of Chicago: Kin Insurance to go public expand nationally with aim to save homeowners time and money We know your business and the landscape of Insurtech. opens in new window, Forbes: May the best ideas win We also work closely with your team to identify opportunities and goals, then introduce you personally to the best Insurtechs to pilot. opens in new window, Built In: How these 7 Chicago tech companies found their product-market fit opens in new window, The Future of Insurance: Sean Harper, Kin Insurance It allows them to manage the messaging and customer experience end-to-end, ultimately leading to higher retention rates of 92% and NPS 85. It is more than ripe for an innovative alternative and that is exactly why we created Kin to provide customers with a better home insurance offering, better pricing and an overall better experience, said Sean Harper, co-founder and CEO of Kin. Once connected with the operator, please provide the conference ID of 13721202., A replay of the call will also be available today from 11:00 am ET to 11:59 pm ET on August 2, 2021. Stephen Ross, Jeff Blau and Bruce Beal of Related Companies and golf pro Rory McIlroy are among Kin's other backers. Matt Higgins, Chairman and CEO of Omnichannel, who also co-teaches a course on digitally native brands at Harvard Business School., The Omni team is already hard at work helping elevate Kins brand presence, expanding Kins acquisition channels and layering in the most cutting-edge acquisition tactics.. The transaction is set to close in Q4 this year. Kin believes that their direct to consumer model is fundamentally better than a commission-based agent model. Use data to your advantage to attract valuable and prospective clients, whether you are exclusively an agency channel, exclusively direct, or a mix. So one way to think about Kin's marketing efficiency is to compare our $500, divided by our average policy size, $1733, divided by the life of the policy implied by our 92% renewal rate and you get 2.3% which compares very favorably against the 17% that selling through agents costs. Businesses, Social Insurance technology (InsurTech) company Kin is merging with the special purpose acquisition company (SPAC) Omnichannel Acquisition Corp. to go public on the NYSE under the ticker symbol KI. The combined entity will be called Kin Insurance and will be valued at an estimated $1.03 billion. Kin Highlights Leading direct-to-consumer home insurance technology company that is expected to more than triple written premiums in 2021 and achieve over $400 million of total written premiums by end of 2023, corresponding to a 5-year CAGR of 139%, and to more than quadruple gross profit in 2021 compared to 2020 Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Behind the scenes, Kin utilizes thousands of data points about each property to provide accurate pricing and produce better underwriting results. The insurtech company announced on Monday its upcoming merger with Omnichannel Acquisition Corp. to be listed as a public company. Direct-to-consumer home insurance technology company Kin Insurance is going public through a reverse merger with Omnichannel Acquisition Corp. Commerce, Real-Time opens in new window, TechCrunch: Insurtech startups are leveraging rapid growth to raise big money opens in new window, Demotech affirms Kins Financial Stability Rating of A, Exceptional opens in new window, TechCrunch: Live near an ocean? We know that the insurance consumer has become very price sensitive. opens in new window, Washington Post: Why your homeowners insurance probably wasnt renewed We will show you prices for many companies with rates that compare to buying direct and work with you to find a plan that you can afford and need. Kin said Tuesday that it. opens in new window, The Insurer: Insurtech Kin announces $82MN first close in latest financing round Direct-to-consumer home insurance technology company Kin Insurance is going public through a reverse merger with Omnichannel Acquisition Corp., the company announced Monday. opens in new window, Forbes: The limits of being awesome in a highly regulated industry Kin Insurance CEO Sean Harper The stock market's swoon has ended a Chicago tech company's SPAC IPO plans. The Florida license number for Kin Insurance is L098613. opens in new window, Benzinga: EXCLUSIVE: Kin Insurance's CEO on the competition, national expansion plans, DTC advantage PYMNTS Data: Why Consumers Are Trying Digital Wallets. Kin signed an agreement to acquire an inactive insurance carrier with licenses in over 40 states, bringing the unicorn one step closer to national expansion. To insure homes online within minutes in touch with us for all press and inquiries! 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