Hippo Strengthens Insurance Leadership with New C-Suite Appointments

By Georgio Salas.
Updated Jun 2, 2021

PALO ALTO, Calif. (PRWEB) June 02, 2021 - Hippo, the home insurance group that created a new standard of care and protection for homeowners, today announced new executive appointments to its insurance team who will report to Rick McCathron, President of Hippo. Each leader brings seasoned experience from top property and casualty (P&C) insurers to support the growth and expansion of Hippos protective home insurance products.

Hippo has modernized home insurance with an insurance team that combines extensive institutional knowledge and technical expertise to provide an experience thats centered on the customer. Through ongoing risk evaluation and underwriting, Hippo provides tailored coverage and premiums with protective services layered in, such as complimentary smart devices and home maintenance services. Hippos insurance team leverages the companys tech-enabled proprietary policy management system, underwriting capabilities, claims management services, and proactive alerts to bring its customers streamlined onboarding and ongoing proactive protection.

Hippos new insurance leadership will play a critical role in expanding and evolving its insurance products across 35 states, which currently reach more than 70% of the U.S. homeowner population. Hippos expert team of actuaries and underwriters use data analytics and technology to manage risk at the property level and to maintain a diverse and balanced risk portfolio. The newly appointed insurance leaders will be responsible for overseeing the continued growth and innovation of Hippos insurance products and the management of its book of business through an insurance team that spans underwriting, actuary and pricing, portfolio, reinsurance and capital management.

Recently appointed Spinnaker President and CEO and former USAA Chief Risk Officer, Torben Ostergaard, is responsible for establishing Spinnaker as a best-in-class, forward-thinking fronting carrier with the backing of parent company Hippos technology. Hippo's continued alignment with home protection, through Spinnaker, a national property and casualty insurer licensed in 50 states and rated A- (Excellent) by A.M. Best Company, allows the company to balance risk retention with reinsurance capacity, not just for Hippos core business but also for third-party programs supported by Spinnaker.

Hippo has built an organization where insurance and technology converge to drive better outcomes for our customers and our business, said McCathron, President, Hippo. As we grow and expand, we are focused on underwriting profit, which contributes to an enhanced customer experience and long-term success. Our capital-light model retains risk in a way that aligns our interests with the reinsurance market while allowing us to maintain desired economics. We are pleased to welcome each of these incredible leaders in their own right, whose individual insights and experience will help Hippo focus on accelerating our growth and maximizing our long-term value.

The new insurance leadership team will be integral in supporting Hippos continued growth and innovation in the industry as it enters the public markets. In March 2021, Hippo announced a definitive business combination agreement with Reinvent Technology Partners Z (Reinvent) (NYSE:RTPZ), a special purpose acquisition company (SPAC) that takes a Venture Capital at Scale approach. Upon the closing of the transaction, the combined company will be publicly traded.

About Hippo Hippo Insurance Services offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. Our goal is to make homes safer and better protected so customers spend less time worrying about the burdens of homeownership and more time enjoying their homes and the life within. Harnessing real-time data, smart home technology, and a growing suite of home services, we are creating the first integrated home protection platform. Hippo is headquartered in Palo Alto, California with offices in Austin and Dallas, Texas and insurance products available to more than 70 percent of U.S. homeowners in 35 states. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various insurance companies. For more information, including licensing information, visit http://www.hippo.com.