Homeowners of America, a Porch Group Subsidiary, Introduces Services in Montana

Rhea-AI Summary

Homeowners of America (HOA), a subsidiary of Porch Group, has expanded its services to Montana, marking the company's commitment to national growth. With this addition, HOA operates in 14 states, enhancing Porch's footprint in the insurance sector. Porch aims to provide comprehensive insurance solutions to both agents and customers in Montana. According to CEO Matt Ehrlichman, this expansion will support HOA’s scaling of insurance services nationwide, playing a vital role in Porch's strategic growth in the home services and insurance industries.

Positive

• Expansion of HOA services to Montana enhances Porch's presence in the insurance sector.
• HOA now operates in 14 states, indicating strong growth and market penetration.

Negative

• None.

SEATTLE, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Homeowners of America (HOA), a property and casualty insurance provider and subsidiary of Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), announced the launch of service in Montana.

Porch, a leading vertical software company reinventing the home services and insurance industries, reinforces its commitment to the national development of HOA’s offerings through each state expansion. With the addition of Montana, HOA now operates in 14 states. HOA’s sustained growth and comprehensive homeowners insurance product broadens Porch’s national presence in the insurance industry.

“The introduction of HOA in Montana confirms our active scaling of HOA’s insurance services nationwide,” said Matt Ehrlichman, Porch founder, chairman, and CEO. “As we continue to expand, we’re providing services for the HOA agents and the customers of Montana for both insurance and as a partner of the home.”

About Porch Group
Seattle-based Porch Group, the vertical software platform for the home, provides software and services to more than 20,000 home services companies such as home inspectors, mortgage companies and loan officers, title companies, moving companies, real estate agencies, utility companies, and warranty companies. Through these relationships and its multiple brands, Porch provides a moving concierge service to homebuyers, helping them save time and make better decisions on critical services, including insurance, warranty, moving, security, TV/internet, home repair and improvement, and more. To learn more about Porch, visit porchgroup.com or porch.com.

Porch Press Contact:
Catherine Adcock
Gateway Group
(949) 574-3860
PR@porch.com

Investor Relations Contact:

Walter Ruddy, Head of Investor Relations & Treasury
Porch Group
(206) 715-2369
WalterRuddy@porch.com

Cody Slach/Matt Glover/Alex Thompson
Gateway Group, Inc.
(949) 574-3860
PRCH@gatewayir.com

FAQ

What are the benefits of Porch Group's expansion into Montana?

The expansion allows Porch to enhance its market presence, providing comprehensive homeowner insurance solutions in Montana.

How many states does Homeowners of America operate in after the Montana launch?

After launching in Montana, Homeowners of America now operates in 14 states.

What is the significance of this expansion for Porch Group (PRCH)?

The expansion signifies Porch's commitment to growth in the insurance industry, broadening its offerings and market reach.

Who is the CEO of Porch Group and what did they say about the Montana expansion?

Matt Ehrlichman, the CEO of Porch Group, stated that the Montana launch confirms their active scaling of HOA's insurance services nationwide.