Hippo teams up with Ring to Help Protect Homes from Water Damage, Fire, and Break-ins

Rhea-AI Summary

Hippo launches home insurance products in North Carolina, expanding its reach to 92% of the U.S. population across 39 states. The new offerings include proactive home protection through a partnership with Ring, providing discounts to customers who opt for smart home technology. The Alarm Security Kit from Ring will enhance home safety and reduce insurance premiums. This initiative aims to prevent minor issues from escalating, adding value to Hippo’s insurance services and reinforcing its commitment to innovative home protection.

Positive

• Expanded geographic reach to 92% of the U.S. population across 39 states.
• Partnership with Ring enhances customer home safety and offers premium discounts.
• Proactive approach to insurance could reduce claims and improve customer satisfaction.

Negative

• None.

Hippo launches proactive protection in North Carolina, further diversifying its geographic portfolio

• With North Carolina, Hippo now reaches 92% of the U.S. population in 39 states
• Hippo provides a discount to homeowners that opt into proactive home protection with smart home tech from Ring
• Program brings together the benefits of Ring Alarm and home insurance products written through Hippo Insurance Services to provide customers with true peace of mind

PALO ALTO, Calif.--(BUSINESS WIRE)-- Hippo (NYSE: HIPO): Hippo Insurance Services announced today it will offer home insurance products in North Carolina and is teaming up with Ring to proactively help protect homes against water damage, fire and break-ins. New customers who opt-in to receive the complimentary Alarm Security Kit from Ring receive a smart home discount on their insurance premium with Hippo.

The smart home kit empowers Hippo customers to make their homes safer. The bundle includes the Ring Alarm 5-piece kit (2nd Gen), Ring Indoor Cam, Echo Dot (4th Gen), Flood & Freeze Sensor, and Smoke & CO Sensor.

“By partnering with Ring, we can help more homeowners prevent small issues from becoming big problems and take a proactive approach to home protection,” said Rick McCathron, CEO and President of Hippo. “We're excited to continue growing the insurance industry’s most widely adopted smart home program in North Carolina.”

With the addition of North Carolina, Hippo products reach 92% of the U.S. population in 39 states. Residents of the Tar Heel state can now access Hippo’s full proactive protection offering, which includes modern home insurance coverage, Hippo Home Care, and the company-provided smart home devices from Ring.

“We’re excited to expand our collaboration with Hippo, whose proactive approach to home protection is a natural fit with our mission to make neighborhoods safer,” said Jamie Siminoff, Founder and Chief Inventor of Ring. “Together, we can provide our shared customers with peace of mind and the confidence to prevent small things from becoming big issues.”

Hippo is transforming the home insurance industry with proactive, consumer-focused products and services. To learn more about Hippo’s insurance offerings or get a quote, visit hippo.com.

About Hippo

Hippo’s goal is to make homes safer and better protected so customers spend less time worrying about the burdens of homeownership and more time enjoying their homes and the life within. Harnessing real-time data, smart home technology, and a growing suite of home services, we are creating the first integrated home protection platform. Hippo is headquartered in Palo Alto, California and offers insurance products that are available to more than 90 percent of U.S. homeowners in 39 states. Insurance products are offered through Hippo Insurance Services which is a licensed property casualty insurance agent with commercial and personal lines products underwritten by various insurance companies. For more information, including licensing information, visit http://www.hippo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220613005052/en/

Mark Olson / Courtney Klosterman

press@hippo.com

Source: Hippo

FAQ

What is Hippo's new offering in North Carolina?

Hippo has launched home insurance products in North Carolina, including proactive protection through a partnership with Ring.

How does Hippo's partnership with Ring benefit customers?

Customers can receive discounts on their insurance premiums by opting for smart home technology from Ring, enhancing home safety.

What percentage of the U.S. population can now access Hippo's products?

With the addition of North Carolina, Hippo products reach 92% of the U.S. population.

What does the Ring Alarm Security Kit include?

The kit includes a 5-piece alarm kit, indoor cam, Echo Dot, flood sensor, and smoke & CO sensor.

What is Hippo's approach to home insurance?

Hippo focuses on proactive, consumer-centric insurance products to minimize risks and enhance customer peace of mind.