Hippo, a California-based insurtech company, and Home Point Financial have teamed up to bring Home Point customers access to modern home insurance. With Hippo Insurance’s online application process integrated directly into the Home Point online mortgage portal, customers can now take advantage of home insurance savings and better coverage, with premiums that can be paid directly through their escrow payments. Hippo Insurance is the exclusive home insurance provider offered within Home Point’s portal, ensuring that qualifying customers have the opportunity to select the very best coverage available for their properties.
During the partnership’s initial phase, Home Point customers purchased policies in all 20 of the states where Hippo Insurance’s policies are currently sold. In addition, Home Point customers who have purchased home insurance from Hippo have realized an average savings of $421, or 32 percent, versus their previous premiums.
Hippo Insurance saves customers money on their home insurance, with online quotes in under 60-seconds and coverage geared towards today’s homeowner. The partnership was formed due to Hippo’s unique ability to refocus home insurance back on the customer, including the company’s great strides towards providing clients protective coverage through proactive underwriting and smart home integrations. Home Point is able to access the true value of Hippo's technology by matching each quote to specific customers based on their current financial and home financing situation. This greatly reduces the overall work customers need to do to find home insurance tailored to their needs.
“There is a massive shift happening across financial services to put a laser focus on the individual customer and their respective needs, while promoting the right type of products and engagement,” said Brian Brizard, chief operating officer, Home Point Financial. “Hippo is as passionate about customer experience as Home Point, and so it’s our aim, together, to provide all the additional value borrower’s need as they manage what’s often the most important financial purchase of their lives. We deeply investigated home insurance providers for their customer experience, tailored coverage, pricing and technology before landing on Hippo, truly the best in-class solution for businesses like Home Point Financial and customers alike.”
Customers can access and manage all aspects of their mortgage payment and escrow process through Home Point’s online portal. Home Point built a dedicated homeownership platform within its portal where customers can receive tailored quotes from Hippo Insurance and identify additional services and information to maximize the value of their home. Once Home Point identifies the kinds of services customers need, they use data and smart partners to help customers self-serve.
“Hippo is building the future of home insurance with a partner ecosystem that is helping to shape the future of homebuying and homeownership,” said Yuval Harry, vice president, partnerships, Hippo. “In order for the services that surround buying a home to work together, providers like Hippo and Home Point must help customers bring both lending and insurance purchase-points closer together. This collaboration is an excellent example of how technology can work together to create happy customers across multiple states.”