Investing.com -- Chicago-based homeowners insurtech company, Kin, has seen a significant increase in its total insured value over the last four years. From 2021 to 2024, the company expanded its insured value from $10 billion to a staggering $100 billion.

During this four-year period, Kin also successfully reduced its gross adjusted loss ratio, net of excess of loss recoveries, from 66.6% down to 25.9%. This was achieved through the management of reciprocal exchanges.

Kin’s CEO and co-founder, Sean Harper, expressed his satisfaction with the company’s progress, stating, "Reaching $100 billion in insured property value represents a pivotal moment in Kin’s journey."

In 2021, the majority of Kin’s total insured property value was based in Florida, accounting for 95% of the total. By 2024, however, Florida’s share had decreased to 75% of the total insured property value. This change is a direct result of Kin’s strategic decision to diversify its risk and expand geographically.

In line with this strategy, Kin has launched operations in several states that are prone to natural disasters, including California. Despite its expansion, the company continues to maintain its commitment to providing insurance services to underserved homeowners.

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