Kin Insurance Announces Series C Funding with Investment from Professional Golfer Rory McIlroy & Others

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CHICAGO, June 3, 2021 / PRNewswire / – Keene, a tech insurance company that makes home insurance simple and affordable, today announced new funding from Symphony Ventures, an investment partnership created by a professional golfer. Rory McIlroy and his team. Flourish Ventures, a global fintech fund founded by Pierre Omidyar, founder of eBay, joined Symphony Ventures, bringing the total capital raised in this round to USD 69.2 million USA… The round was originally co-hosted by Hudson Structured Capital Management Ltd. (dealing in reinsurance and insurance as HSCM Bermuda) and Senator Investment Group.

“We’re thrilled to have Rory as our latest investor as Keane has now joined the ranks of his high-profile partnerships and investments in truly innovative technology companies,” said Sean Harper, CEO and co-founder of Kin. “As climate change continues to affect many regions such as Florida as well as Louisianaaccess to affordable home insurance is an often overlooked priority. With Kin, we analyze over 10,000 property data points versus just hundreds assessed by traditional insurance companies, allowing us to better prepare ourselves for a fair risk assessment and pricing policy. ”

While legacy insurers rely on outdated, inflexible technology, Kin’s proprietary platform allows the company to assess risk in real time and gain more data than its competitors. Kin technology also reduces general and administrative costs, which account for roughly 15 percent of the premiums paid by legacy insurance companies. Finally, by selling its products directly to consumers, Kin eliminates the cost of outsourcing services.

“Our goal at Symphony Ventures is to partner with tech companies that are digitally oriented and that truly innovate in our daily lives,” said Rory McIlroy… “How Florida a resident who has traveled the world on a PGA tour, I have seen the devastation that harsh weather and climate change can have on communities. This is why I am delighted to invest in Kin to help expand their offerings to new regions, offering simpler solutions directly to consumers. ”

Kin is currently working in Florida as well as Louisiana – a strategic decision to focus primarily on the regions most affected by climate change and natural disasters, because they now need affordable solutions. Priority regions for expansion include Texas and the Gulf Coast and hurricane-prone regions that touch the Atlantic Ocean.

To learn more about Kin’s mission to change home insurance for the better, visit www.kin.com

About the genus
Kin is a home insurance company built for the future. Using thousands of real estate data points, Kin customizes coverage and prices with a very simple user interface. Kin offers insurance for homeowners, homeowners, condominiums and mobile homes through the Kin Interinsurance Network (KIN), a mutual exchange owned by its clients who share in underwriting profits. Thanks to its efficient technology and direct-to-consumer model, Kin offers exceptionally low prices without sacrificing coverage. To find out more visit https://www.kin.com

ABOUT Rory McIlroy
Rory McIlroy professional golfer from Northern Ireland which is a member of the European and PGA Tour. Rory has won 28 tournaments worldwide, including four major championships, two FedEx Cups, and has now spent 106 weeks ranking first in the official world golf rankings. Rory has partnered with NBC, Nike, Omega, Optum and TaylorMade. In addition, Rory is a partner at Symphony Ventures, which has an investment portfolio of technology companies in healthcare, wellness and golf.

SOURCE Kin

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