$RTP/@hippo_insurance
In Nov 2020, Mitsui Sumitomo Insurance led a $350m fundraising round in Hippo.
MSI is a Japanese insurance conglomerate with ~50% market share and ~$1bn in annual revenue.
Upon their investment, they published a two-pager thesis.
Breakdown below ⬇️🧵
In Nov 2020, Mitsui Sumitomo Insurance led a $350m fundraising round in Hippo.
MSI is a Japanese insurance conglomerate with ~50% market share and ~$1bn in annual revenue.
Upon their investment, they published a two-pager thesis.
Breakdown below ⬇️🧵
MSI are aiming to promote digitalization that will contribute to improving customer experience.
Through $RTP/Hippo, MSI will provide relief and safety to its customers by enhancing how natural disasters our addressed, and providing advanced services for disaster prevention
Through $RTP/Hippo, MSI will provide relief and safety to its customers by enhancing how natural disasters our addressed, and providing advanced services for disaster prevention
MSI aims to leverages $RTP/Hippo's strength in data and tech based on methods of risk sub-divided underwriting, smart home devices, and meteorological data.
MSI will leverage $RTP/Hippo’s data analysis technologies, which utilizes AI, (geographical information, aerial photo images and satellite images, weather information, real estate information, etc.).
Through the partnership with $RTP/Hippo, MSI will aim to realize its non-life insurance business expansion potential and grow its knowledge, accumulate its understanding, and build its network in the U.S. insurtech market.
MSI highlights 2 main strength features of $RTP/Hippo:
1) Data Analysis Technology
2) Sales and underwriting capacity
1) Data Analysis Technology
2) Sales and underwriting capacity
1) Data Analysis Technology
a) Diverse Datasets and Partnerships: Hippo partners with dozens of successful organizations across real estate, loan services, financial agencies, geospatial data, & analytical firms. $RTP
a) Diverse Datasets and Partnerships: Hippo partners with dozens of successful organizations across real estate, loan services, financial agencies, geospatial data, & analytical firms. $RTP
1) Data Analysis Technology
b) Proprietary UW Method using AI/ML: Hippo
developed a UW model to calculate risk scores. These variables include a variety of items such as age of the house, condition of the roof, presence or absence of a pool, the structure of the house. $RTP
b) Proprietary UW Method using AI/ML: Hippo
developed a UW model to calculate risk scores. These variables include a variety of items such as age of the house, condition of the roof, presence or absence of a pool, the structure of the house. $RTP
1) Data Analysis Technology
c) Advanced Proactive Loss Prevention using Data: Proactive accident prevention is achieved, and reporting the information to the homeowner if there are any changes needed, and by detecting anomalies with sensors to prevent accidents. $RTP
c) Advanced Proactive Loss Prevention using Data: Proactive accident prevention is achieved, and reporting the information to the homeowner if there are any changes needed, and by detecting anomalies with sensors to prevent accidents. $RTP
1) Data Analysis Technology
d) Variety of Products & Services: It is a rare business model in which the source of competitiveness is an insurance platform with various products and services such as advanced underwriting decision-making based on AI/ML. $RTP
d) Variety of Products & Services: It is a rare business model in which the source of competitiveness is an insurance platform with various products and services such as advanced underwriting decision-making based on AI/ML. $RTP
2) Sales and Underwriting Capacity
a) Excellent UX / UI and high customer loyalty: Hippo can provide a quote of premium online in 60 seconds
(policy binding in 4 minutes). Hippo has an average NPS score of 76, which is 3x average of major competitive companies. $RTP
a) Excellent UX / UI and high customer loyalty: Hippo can provide a quote of premium online in 60 seconds
(policy binding in 4 minutes). Hippo has an average NPS score of 76, which is 3x average of major competitive companies. $RTP
2) Sales and Underwriting Capacity
b) Securing stable direct writing capacity: Hippo owns an insurance carrier, Spinnaker. By owning an insurance company, Hippo can secure stable direct writing capacity, not affected by other on-affiliated direct writing companies. $RTP
b) Securing stable direct writing capacity: Hippo owns an insurance carrier, Spinnaker. By owning an insurance company, Hippo can secure stable direct writing capacity, not affected by other on-affiliated direct writing companies. $RTP
For those who want to deep-dive (highly encouraged!), find the full thesis in this link below and screenshots attached . $RTP
PDF: ms-ins.com/english/news/f…
PDF: ms-ins.com/english/news/f…
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