Structured as a reciprocal insurance exchange so that policyholders have a voice in all Kin does, the company now has the flexibility to innovate in ways that best serve its customers and keep costs low. The carrier has a financial stability rating of “A – Exceptional” from the financial analysis firm Demotech, Inc.

Launched by seasoned financial tech entrepreneurs Sean Harper and Lucas Ward in 2016, Kin began as a tech-driven home insurance provider in Florida, offering products tailored to the needs of customers within the catastrophe-prone region. Kin’s decision to establish its insurance carrier in Florida emphasizes its commitment to serving coastal homeowners most impacted by climate change and often neglected by the insurance industry. The carrier will expand to serve other states in the near future.

“Our approach in totality is unique,” said Lucas Ward, CTO and co-founder of Kin. “We’ve built our own policy administration system, we’re a direct writer serving a CAT-prone state, we have catastrophe modeling expertise and heavy pricing experience, and we use tech to truly benefit the customer. When you add all that up, the result is something the insurtech space hasn’t seen before.”