Hippo Expands Home Builder Access to New Homes Program in California, Florida, and Texas
Hippo (NYSE: HIPO) announced the expansion of its New Homes Program in California, Florida, and Texas, aiming to provide insurance access for nearly 50,000 additional new homes by year-end. The program offers lower premiums for new homes, with potential savings of up to 69% in California, 42% in Florida, and 56% in Texas compared to existing home policies. Perry Homes and Van Daele Homes have joined the program, which simplifies the underwriting process and offers lower deductibles. Hippo's solution streamlines the closing process for sales teams, lenders, and homebuyers by automating evidence of insurance. The company plans to expand partnerships and access to new home insurance solutions in other states.
Hippo (NYSE: HIPO) ha annunciato l'espansione del suo Programma per le Nuove Case in California, Florida e Texas, con l'obiettivo di fornire accesso all'assicurazione per quasi 50.000 nuove case aggiuntive entro la fine dell'anno. Il programma offre premi più bassi per le nuove case, con risparmi potenziali fino al 69% in California, 42% in Florida e 56% in Texas rispetto alle polizze per le case esistenti. Perry Homes e Van Daele Homes si sono uniti al programma, che semplifica il processo di sottoscrizione e offre franchigie più basse. La soluzione di Hippo snellisce il processo di chiusura per i team di vendita, i prestatori e i compratori offrendo automazione nella prova dell'assicurazione. L'azienda prevede di espandere le partnership e l'accesso a nuove soluzioni assicurative per le case in altri stati.
Hippo (NYSE: HIPO) anunció la expansión de su Programa de Nuevas Viviendas en California, Florida y Texas, con el objetivo de proporcionar acceso a seguros para casi 50,000 nuevas casas adicionales para fin de año. El programa ofrece primas más bajas para las nuevas casas, con ahorros potenciales de hasta 69% en California, 42% en Florida y 56% en Texas en comparación con las pólizas de casas existentes. Perry Homes y Van Daele Homes se han unido al programa, que simplifica el proceso de suscripción y ofrece deducibles más bajos. La solución de Hippo agiliza el proceso de cierre para los equipos de ventas, prestamistas y compradores de viviendas al automatizar la evidencia de seguro. La empresa planea expandir sus asociaciones y el acceso a nuevas soluciones de seguros para viviendas en otros estados.
히포(Hippo, NYSE: HIPO)는 캘리포니아, 플로리다, 텍사스에서 새로운 주택 프로그램의 확장을 발표하며, 연말까지 거의 50,000채의 추가 주택에 대한 보험 접근을 제공하는 것을 목표로 하고 있습니다. 이 프로그램은 신규 주택에 대해 더 낮은 보험료를 제공하며, 기존 주택 정책과 비교했을 때 캘리포니아에서 69%, 플로리다에서 42%, 텍사스에서 56%까지 잠재적인 절약이 가능합니다. Perry Homes와 Van Daele Homes가 이 프로그램에 참여하였으며, 이는 인수 과정의 간소화와 더 낮은 공제액을 제공합니다. 히포의 솔루션은 보험 증명을 자동화하여 판매팀, 대출기관 및 주택 구매자에 대한 클로징 프로세스를 간소화합니다. 회사는 다른 주에서의 새로운 주택 보험 솔루션에 대한 파트너십과 접근성을 확장할 계획입니다.
Hippo (NYSE: HIPO) a annoncé l'expansion de son Programme pour Nouvelles Maisons en Californie, Floride et Texas, visant à fournir l'accès à l'assurance pour près de 50 000 nouvelles maisons supplémentaires d'ici la fin de l'année. Le programme propose des primes plus faibles pour les nouvelles maisons, avec des économies potentielles allant jusqu'à 69 % en Californie, 42 % en Floride et 56 % au Texas par rapport aux polices d'assurance pour maisons existantes. Perry Homes et Van Daele Homes ont rejoint le programme, qui simplifie le processus de souscription et propose des franchises plus basses. La solution de Hippo rationalise le processus de clôture pour les équipes de vente, les prêteurs et les acheteurs de maisons en automatisant la preuve d'assurance. L'entreprise prévoit d'élargir les partenariats et l'accès à de nouvelles solutions d'assurance habitation dans d'autres États.
Hippo (NYSE: HIPO) kündigte die Erweiterung seines neuen Wohnungsprogramms in Kalifornien, Florida und Texas an, mit dem Ziel, bis Ende des Jahres den Zugang zur Versicherung für fast 50.000 zusätzliche neue Häuser zu bieten. Das Programm bietet niedrigere Prämien für neue Häuser, mit potenziellen Einsparungen von bis zu 69% in Kalifornien, 42% in Florida und 56% in Texas im Vergleich zu bestehenden Policen. Perry Homes und Van Daele Homes haben sich dem Programm angeschlossen, das den Underwriting-Prozess vereinfacht und niedrigere Selbstbehalte bietet. Die Lösung von Hippo strafft den Abschlussprozess für Verkaufsteams, Kreditgeber und Hauskäufer, indem sie den Nachweis von Versicherungen automatisiert. Das Unternehmen plant, Partnerschaften auszubauen und Zugang zu neuen Wohnungsversicherungen in anderen Bundesstaaten zu schaffen.
- Expansion of New Homes Program in three major states
- Potential for 50,000 additional new homes covered by year-end
- Significantly lower premiums for new homes compared to existing homes
- Partnership with two new home builders: Perry Homes and Van Daele Homes
- Streamlined underwriting and closing processes for builders and buyers
- to only three states currently
- Focused primarily on new construction, potentially limiting market reach
Insights
Hippo's expansion of its New Homes Program in California, Florida and Texas is a strategic move to capitalize on high-growth residential construction markets. The program's ability to offer significantly lower premiums (
This expansion could potentially increase Hippo's market share and revenue in these key states, which account for over a third of new construction permits in the U.S. The partnerships with Perry Homes and Van Daele Homes, along with existing relationships with top homebuilders, position Hippo to capture a significant portion of the new home insurance market.
The automated evidence of insurance process and simplified underwriting for new homes could lead to operational efficiencies and improved customer satisfaction. However, the focus on new construction may expose Hippo to risks associated with housing market fluctuations and regional economic factors.
The expansion of Hippo's New Homes Program aligns with the robust growth in new home construction in California, Florida and Texas. These states are experiencing significant housing demand, driven by population growth and economic factors. By targeting these markets, Hippo is positioning itself at the forefront of a lucrative segment.
The program's ability to offer lower premiums for new homes addresses a critical pain point in these markets, where insurance availability and affordability have been challenging. This could potentially stimulate new home sales by reducing overall costs for buyers and simplifying the purchasing process.
Partnerships with prominent builders like Perry Homes and Van Daele Homes enhance Hippo's credibility and market reach. The company's plans to expand to other states indicate a long-term growth strategy in the new construction insurance niche, which could yield substantial returns if executed effectively.
Perry Homes and Van Daele Homes join the Hippo New Homes Program
Hippo also announced Perry Homes and Van Daele have joined the Hippo New Homes Program, which already works with some of the nation's leading home builders.
"In recent years, many of our home builder partners have struggled to find a consistent insurance solution for new homes in
Hippo's New Homes Program provides home builders access to insurance products specifically designed for new homes from a panel of carrier partners. New Homes Program carriers simplify the underwriting process by only using information about the house to issue policies that typically provide lower deductibles and more flexibility than a standard homeowner's policy.
Due to the historically lower risk associated with new construction and based on average state premiums, Hippo and its carrier partners can offer policies for new homes with premiums as much as
"Hippo's New Homes Program provides our Perry Homes customers with multiple quotes, helping us deliver the customer experience our buyers deserve," said Todd Chachere, Chief Executive Officer of Perry Homes. "Finding homeowner insurance is an important part of the customer's journey, and Hippo's New Homes Program provides a simple process despite insurance challenges in the
Hippo's homebuilder partners gain access to a scalable, embedded insurance solution that streamlines the closing process for sales teams, lenders, and homebuyers by automating the evidence of insurance process.
"Over the last few years, it's become increasingly difficult for buyers to secure homeowners insurance in
In addition to Perry Homes and Van Daele Homes, Hippo works with four of the top twenty homebuilders in the
To learn more about partnering with Hippo, visit www.hippo.com/partnerships.
About Hippo
Hippo is protecting the joy of homeownership, helping to safeguard customers' most important financial asset by harnessing the power of real-time data, smart home technology, and a growing suite of home services to deliver proactive home protection. Hippo Holdings Inc.'s (NYSE: HIPO) operating subsidiaries include Hippo Insurance Services, Hippo Builder Insurance Agency, Hippo Home Care, First Connect Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Mainsail Insurance Company. First Connect Insurance Services is a licensed property casualty insurance agent with products underwritten by various insurance companies. Hippo's New Homes Program is offered through Hippo Builder Insurance Agency. For more information, including licensing details, visit http://www.hippo.com.
Contact
Mark Olson
press@hippo.com
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SOURCE Hippo Analytics, Inc
FAQ
What states is Hippo expanding its New Homes Program to?
How many additional new homes does Hippo expect to provide insurance access for by year-end?
What are the potential premium savings for new homes in California, Florida, and Texas under Hippo's program?
Which new home builders have recently joined Hippo's New Homes Program?
