Kin Insurance surpasses $70 million in gross written premium in the second quarter, up 204% year-to-date

CHICAGO-(BUSINESS WIRE)–Kin Insurance, the direct-to-consumer home insurance company created for each new normal, today announced select preliminary operating results through the second quarter ended June 30, 2022:

  • Kin ended the second quarter of 2022 with $70.8 million in gross written premium, bringing its year-to-date total to $125.0 million in gross written premium.

  • Kin moved closer to breaking even, narrowing its operating loss to $2.0 million for the second quarter of 2022.

  • The network adjusted loss ratio of Kin Interinsurance (the “Carrier”), a reciprocal exchange managed by Kin Insurance, Inc., was 45.2% in the second quarter of 2022, an improvement of 23% over the prior year period.

  • The carrier’s premium renewal rate increased to 108% in Q2 2022, bringing its year-to-date premium renewal rate to 105%.

“This quarter, we delivered strong year-over-year growth, firmly hitting our premium targets while reducing CAC and increasing revenue per customer. As a result, we are very close to achieving positive operating profit, which we expect to happen in the fourth quarter,” said Sean Harper, CEO of Kin. “Our highest priority is to remain focused on economic and operational efficiency so that we can gain ground during the current market downturn and accelerate even faster from it.” As a direct-to-consumer business, we have precise control over the size of exposures we generate, the type of clients we attract and the geographic concentration of the portfolio, which is important to our reinsurance partners.”

In the second quarter of 2022, Kin’s adjusted loss ratio decreased to 51.5% from 67.3% in the year-ago period. The non-CAT adjusted loss ratio was 39.5% in Q2 2022 and has declined year-to-date in each of the last six quarters. “Our sophisticated approach to underwriting, pricing and marketing optimizations have helped us reduce our loss ratio over time,” said Angel Conlin, Kin’s chief underwriting officer. “All of this is powered by our proprietary technology, combined with our commitment to data science and actuarial discipline, allowing us to respond more quickly to market changes and better shape our portfolio and results.”

Kin’s premium renewal rate increased to 108% in Q2 2022 from 102% in Q1. “As premiums rise across the industry, we have been able to take planned pricing actions without impacting our renewal rates, which is exactly what you would expect from our direct-to-consumer model,” added Harper. “Loss costs and reinsurance costs have increased across the country, driving up premiums.”

Harper will speak at several industry events in the second half of 2022, including:

  • William Blair Insurance and Banking Technology Conference 10-11 August 2022 Virtual

  • KBW Insurance Conference, September 7-8, 2022, New York, NY

  • ITC Vegas, September 20-21, 2022, Las Vegas, Nevada

  • Connected Claims USA, November 2-4, 2022, Chicago, IL

About Kin

Kin is the insurance company for every new normal home. Using proprietary technology, Kin provides fully digital insurance to homeowners with an elegant user experience, accurate pricing and fast, high-quality claims service. Kin offers insurance to homeowners, landlords, condos and mobile homes through the Kin Interinsurance Network (KIN), a reciprocal exchange owned by its customers who share in the underwriting profit. Due to its efficient technology and direct-to-consumer model, Kin provides affordable prices without compromising on coverage. To learn more, visit

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