Investors may listen to a pre-recorded call regarding the proposed business combination today at 9:00 am ET. opens in new window, Forbes: How to sell value to price-sensitive customers Kin Insurance Inc., an insurance-technology startup that counts golfer Rory McIlroy among its investors, has agreed to go public through a merger with Omnichannel Acquisition Corp ., a. CHICAGO, IL July 19, 2021 Kin Insurance, Inc. (Kin), an insurance technology company that makes home insurance easy and affordable, and Omnichannel Acquisition Corp. (NYSE: OCA) (Omnichannel), a publicly-traded special purpose acquisition company led by serial entrepreneur Matt Higgins and a deep bench of consumer operators, announced today that they have entered into a definitive business combination agreement. opens in new window, Kin Insurance surges to $11.3 million in total managed premium in November, increasing 327% year-to-date USA Today: The tech bubble has burst, experts say, but you might be able to pick up some discounts, Business Insider: Assignment of benefits 101, Business Insider: Home warranty vs. homeowners insurance, Authority: 5 things you need to succeed in the modern world of finance & fintech, Alpha Street: Kin insurances strategy is focused on growing in catastrophe-exposed states, Business Insider: 5 ways to reduce your homeowners insurance premium, Washington Post: Why your homeowners insurance probably wasnt renewed, Forbes: Putting the green back into greenbacks with climate fintech, Crunchbase: Some Crossover Investors Ramp up While Others Scale Back Amid Market Wonkiness, Digital Insurance: The best 12 U.S. Insurtech employers, according to Forbes, Tampa Bay Inno: How a Chicago insurtech company is using an $82 million Series D to bet big on St. Pete, Information Age: A guide to working in the Tampa tech scene, The Insurer: Insurtech Kin announces $82MN first close in latest financing round, Inside P&C: Kin pulls in $82MN in Series D funding, Built In: Kin Insurance secures $82M for its D2C home insurance platform, Chicago Inno: Kin Insurance raises $82M after canceling SPAC deal, Crain's Chicago Business: Kin lines up private investment for its next stage of expansion, TechCrunch: Live near an ocean? (More to follow). opens in new window, Seeking Alpha: Kin Insurance reports four times growth in managed premium Sign up to start afree trial today. Index, Data The company crunches thousands of data points that it says allows for more accurate pricing and better underwriting results. It is a great time to be a Carrier or MGA Insurtech that decides to go public. opens in new window, American Inno: 12 biggest Chicago startup fundings of 2019 opens in new window, Kin Insurance launches AI-based home insurance recommendation platform With the sole mission of bringing the home insurance process into the modern age, Kin Insurance is taking the next step in its growth journey. opens in new window, Forbes: Four ways to amplify your teams creativity Kin Insurance, a Chicago home insurance startup, is canceling its previously announced SPAC deal that would have valued the company at more than $1 billion. opens in new window, Kin eclipses $10B in total insured property value The show will focus on global macro issues with a middle eastern context, provide expert analysis of major market moving stories and speak with the biggest newsmakers in the region. opens in new window, Kin Insurance named among Chicago Inno's 2021 "50 on Fire" 2016-2023 Kin Insurance Technology Hub, LLC. opens in new window, Inside P&C: Kin raising new VC funding after SPAC deal termination Data to acquire leads, data to price leads, and data to work claims. A portion of the funding will be investedin building out Kins product offerings as well as growing its product into more markets. opens in new window, Built In: How these 7 Chicago tech companies found their product-market fit opens in new window, Carrier Management: Kin Insurance upgrades reinsurance program to beef up disaster protection capacity Kins low cost structure, fast reaction time and data advantage enable Kin to adapt better to the increasingly volatile weather occurring throughout the country as the climate warms. Kin grows total written premium by 230% year-over-year, Kin Insurance exceeds 2021 goal for total managed premium, , Cinch Home Services partners with insurance industry , Displaying post That right there is 98%. Any financial and capitalization information or projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Omnichannels and Kins control. Kin Insurance Plans to Go Public Through $1.03B SPAC Merger, Natures Fynd Raises $350M to Bring Its Meatless Food to Market. Today, Kin Insurance, an Insurtech with only $25 million in premiums in 2020 and an expected $98 million in 2021, announced its intention to go public today with a valuation of $1 billion. Kin is operating within an industry thats worth over $100 billion and continues to grow, especially since the COVID-19 pandemic has expedited digital advancements across a variety of sectors. If done right, the legacy carrier will continue to dominate the landscape. opens in new window, Insurance Business America: CEO turns back to private markets after reverse merger derailment Kin Insurance, a homeowners insurance startup, is in talks to raise around $75 million to $100 million after it pulled the plug on a deal to go public via SPAC merger, according to three sources with knowledge of the matter. opens in new window, Kin Insurance closes $35M Series B to fuel industry disruption opens in new window, Kin Insurance maintains steady year-over-year growth in third quarter, increasing 151% year-to-date opens in new window, Inc.: Let the person with the most information make the decision Invest in emotional intelligence What they emphasized during the investor talk and what I saw throughout the investor deck is a focus on data. opens in new window, Crain's Chicago Business: Insurance startup raises $47 million Focus on the claims experience by responding proactively and in real time through SMS, messaging, and other means. Forbes: When fintech succeeds: The three Ds, Forbes: How to adapt when your industry is facing disruption, Quartz: New study shows why hurricanes stay so strong after making landfall, Washington Post: Eight tips for buying homeowners insurance, Forbes: Want to build a successful startup? Built In Chicago is the online community for Chicago startups and tech companies. Please visit Kins investor relations website investor.kin.com to access the webcast. Payments, More Our customers receive a simple, direct and exceptional experience that provides them with real savings and leaves them delighted and loyal to Kin. Conjoined, the company will be valued at roughly $1.03 billion and plans to trade on the NYSE under the ticker symbol KI.. opens in new window, TechCrunch: Live near an ocean? opens in new window, The Insurer: Insurtech Kin announces $82MN first close in latest financing round opens in new window, Forbes: Want to build a successful startup? Kins success has been primarily in markets where carriers were less interested in writing policies like FL, LA, and to a lesser extent CA. Kin has lower customer acquisition costs and does not . The transaction is further supported by a fully committed $80 million PIPE at $10 per share of Class A common stock of Omnichannel led by HSCM Bermuda and Senator Investment Group. A PYMNTS study, New Payments Options: Why Consumers Are Trying Digital Wallets finds that 52% of US consumers tried out a new payment method in 2022, with many choosing to give digital wallets a try for the first time. The residential property market cannot function without homeowners insurance, because insurance is required by most mortgage lenders. opens in new window, Forbes: In the era of customer experience, chatbots dont always pay The pandemic compressed years of ecommerce adoption and upended industries overnight. Get this delivered to your inbox, and more info about our products and services. 3. We know that the insurance consumer has become very price sensitive. & Pharmacy, Healthcare The SPAC cited unfavorable market conditions in its press release on the termination, but will turn back to the work of meeting with targets who can benefit from their team . The agreement values Kin Insurance at roughly $1.03 billion. Kin Insurances data aims to more accurately predict home risk, Business Observer: Insurtech startup brings fresh perspectives to market, Fortune: The downfall of the SPAC: Why one CEO called it quits and more will follow, Insurance Business America: CEO turns back to private markets after reverse merger derailment, Property Casualty 360: Climate change is measurable and manageable, Inside P&C: Kin raising new VC funding after SPAC deal termination, Axios: Kin Insurance gets new funding after spurning its SPAC, Crain's Chicago Business: Insurance startup Kin abandons SPAC, Seeking Alpha: Kin Insurance reports four times growth in managed premium, Insurance Journal: Cat-focused Kin Insurance acquires shell for expansion, Inside P&C: Kin proved its model works through its high customer retention: CEO Harper, NerdWallet: The best home insurance companies for 2022, Benzinga: This fintech company could have the staying power weve been waiting for, The Future of Insurance: Sean Harper, Kin Insurance, Lifeblood: House Insurance with Sean Harper, Benzinga: With over 200% YOY gross profit growth, this insurtech company says its not done yet, Alpha Street: Kin Insurance CEO Sean Harper: Will expand into new states, enhance portfolio, Benzinga: Omnichannel acquisition partner Kin Insurance reports triple digit growth in Q3, Forbes: Four ways to amplify your teams creativity, Carrier Management: Kin Insurance upgrades reinsurance program to beef up disaster protection capacity, Seeking Alpha: Omnichannel CEO Matt Higgins, Kin CEO Sean Harper - focus on macro trends, ValuePenguin: Insurance expert Q&A with Angel Conlin, CIO of Kin, Ad Age: Florida Man start in new Kin Insurance campaign, Benzinga: EXCLUSIVE: Kin Insurance's CEO on the competition, national expansion plans, DTC advantage, Forbes: The smartest thing a leader can do? Data is a real-time snapshot *Data is delayed at least 15 minutes. | Insurance technology (InsurTech) company Kin is merging with the special purpose acquisition company (SPAC) Omnichannel Acquisition Corp. to go public on the NYSE under the ticker symbol. opens in new window, Insurtech startup Kin Insurance continues to expand its capacity to serve Florida residents As such, they benefited from an older average age of customers of 57 in a less competitive market. opens in new window, Forbes: How to level up as a founder Transaction includes commitment for $80 million PIPE led by HSCM Bermuda and Senator Investment Group, with participation from Gillson Capital, Park West Asset Management and other institutional investors, New strategic investors include Joe Plumeri, former chairman and CEO, Willis Group Holdings; Stephen Ross, Jeff Blau and Bruce Beal of related companies, the most prominent privately-owned real estate firm in the United States; and Gary Vaynerchuk, CEO of VaynerMedia, Previous Series C investors include NBA all-star Draymond Green and four-time major champion golf pro Rory McIlroy; noth back Kin to raise brand profile across the country. opens in new window, Crains Chicago Business: Insurance startup Kin raises another $35 million Get in touch with us for all press and speaker inquiries. It is more than ripe for an innovative alternative and that is exactly why we created Kin to provide customers with a better home insurance offering, better pricing and an overall better experience, said Sean Harper, co-founder and CEO of Kin. Kin Insurance has raised a total of $383.2M in funding over 9 rounds. opens in new window, Forbes: Fintech startups: Plan for your customers emotional realities Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed transaction will be included in the proxy statement / prospectus that Omnichannel intends to file with the SEC. 1 opens in new window, University of Chicago: Kin Insurance to go public expand nationally with aim to save homeowners time and money Kin and Omnichannel will host a joint investor call regarding the proposed transaction today at 9:00 am ET. opens in new window, Kin Insurance announces Series C funding with investment by professional golfer Rory McIlroy and others What they dont realize is that you are continuously innovative and have the confidence and experience to build long-term relationships with your agents, partners and customers. His advice has been widely appreciated in the financial community, which resulted in multiple quotes and publications in various media. opens in new window, Built In: 26 insurtech companies making coverage simpler opens in new window, Kin named one of Fast Company's "10 Most Innovative Finance Companies" of 2020 Skyline Capital and Runway Growth Capital are the most recent investors. Kins existing stockholders will be rolling 100% of their equity into the combined company and are expected to own approximately 74% of the combined company immediately following the closing of the business combination, assuming no redemptions by Omnichannels public stockholders. Omnichannel Acquisition Corp. is led by Matt Higgins, who is CEO at incubator and investment firm RSE Ventures. opens in new window, Information Age: A guide to working in the Tampa tech scene This sets Kin apart since the company prioritizes serving customers in places where home insurance is exceptionally crucial. Kin Insurance, a home insurance company, is targeting a Q4 public debut after announcing a SPAC deal with "Shark Tank" investor Matt Higgins' SPAC Omnichannel Acquisition Corp. (NYSE: OCA) last . opens in new window, Forbes: Reminder: Capitalism is supposed to benefit customers J.P. Morgan Securities LLC is acting as exclusive financial advisor to Kin, and Latham & Watkins LLP is acting as its legal counsel. he combined entity will be called Kin Insurance and will be valued at an estimated, The deal includes an $80 million PIPE commitment led by HSCM Bermuda and Senator Investment Group, with participation from Gillson Capital, Park West Asset Management and other institutional investors, according to a, The home insurance industry has been coasting for years on legacy technology and an antiquated way of interacting with customers. Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Kin offers a D2C platform that helps homeowners purchase insurance within minutes, and offers a more convenient way to complete tasks like making changes to their insurance policies or filing a claim. articles a month for anyone to read, even non-subscribers! opens in new window, Kin Insurance named among Chicago Inno's 2020 "50 on Fire" opens in new window, Business Observer: Insurtech startup brings fresh perspectives to market . 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By stepping into climate-impacted areas and offering cost-efficient insurance priced with sophisticated climate models, Kin plays a key part in helping our society adapt to climate change. The deal includes an $80 million PIPE commitment led by HSCM Bermuda and Senator Investment Group, with participation from Gillson Capital, Park West Asset Management and other institutional investors, according to a press releaseon Monday (July 19). The insurtech company announced on Monday its upcoming merger with Omnichannel Acquisition Corp. to be listed as a public company. opens in new window, FinTech Global named Kin Insurance among "Insurtech 100" in 2019 Invest in emotional intelligence. Access to affordable home insurance is challenging in regions that are impacted by climate change and severe weather; at Kin, our proprietary technology and deep data advantage enable us to best evaluate risk and price home insurance fairly for consumers, he added. Get our latest stories curated just for you. opens in new window, Insurance Journal: Cat-focused Kin Insurance acquires shell for expansion As Kin looks to soon expand its reach into new markets, the company announced NBA superstar Draymond Green joined four-time major champion golf pro Rory McIlroy in the recent Series C round as an investor, both of whom will assist in raising Kins profile across the country in current markets and in new geographies. This communication includes forward looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. The foregoing list of factors is not exhaustive. opens in new window, Crains Chicago Business: Meet Allstate's newest challengers A Division of NBCUniversal. Why? Access to affordable home insurance is challenging in regions that are impacted by climate change and severe weather; at Kin, our proprietary technology and deep data advantage enables us to best evaluate risk and price home insurance fairly for consumers. It is more than ripe for an innovative alternative, and that is exactly why we created Kin to provide customers with a better home insurance offering, better pricing and an overall better experience, said Kin Co-founder and CEO, The Kin team has leveraged its decades of insurance and FinTech experience to build a capital-efficient company that is experiencing outstanding growth across the board, along with compelling and superior unit economics, said Omnichannel Chairman and CEO Matt Higgins, a serial entrepreneur who co-teaches a Harvard University course on digitally native brands. We believe Kin is well positioned to capitalize on that unmet demand for years to come.. opens in new window, Washington Post: Eight tips for buying homeowners insurance To learn more, visit https://www.kin.com. We know your business and the landscape of Insurtech. Kin Insurance Inc., an insurance-technology startup that counts golfer Rory McIlroy among its investors, has agreed to go public through a merger with Omnichannel Acquisition Corp., a blank-check firm led by Matt Higgins, a longtime investor who has appeared as a Shark Tank judge. Kin, which currently operates in Florida, Louisiana, and California, also announced today it has accelerated its ability to enter into new markets by signing a stock purchase agreement to acquire an inactive insurance carrier that holds licenses in more than 40 states. Most recently he was Practice Lead for Innovation, Fintech, and Strategic Insights at EY. Kin's technology-first approach enables customers to insure homes online within minutes. We expect to use our strengthened balance sheet to further scale our platform to new geographies, accelerating the growth of our premiums and profitability. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Kin Insurance and Omnichannel Acquisition Corp., a publicly traded special purpose acquisition company, announced that they have mutually agreed to terminate their previously announced agreement and plan of merger as a result of "current unfavorable market conditions." "We worked tirelessly over the better part of a year to bring this combination to . For example, if you know the course of a storm or fire, notify your customers as a preventive measure and track them immediately after the event. Our National Producer Number (NPN) is 18044957 and our Certificate of Authority (COA) number is 19-813300698. opens in new window, Business Insider: Insurtech disruptors report To access the replay, the domestic toll-free access number is (844) 512-2921 and participants should provide the conference ID of 13721202.. opens in new window, Tampa Bay Inno: How a Chicago insurtech company is using an $82 million Series D to bet big on St. Pete There are definitely things that a legacy carrier could learn from Kin. opens in new window, Kin Insurance surpasses $70M in gross written premium in second quarter, increasing 204% year-to-date opens in new window, Kin Insurance sees growth accelerate at the start of fourth quarter, while adjusted loss ratio improves These factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement and the proposed Business Combination contemplated thereby; (2) the inability to complete the transactions contemplated by the transaction agreement due to the failure to obtain approval of the stockholders of Omnichannel or other conditions to closing in the transaction agreement; (3) the ability to meet the NYSEs listing standards following the consummation of the transactions contemplated by the transaction agreement; (4) the risk that the proposed transaction disrupts current plans and operations of Kin as a result of the announcement and consummation of the transactions described herein; (5) the ability to recognize the anticipated benefits of the proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) costs related to the proposed Business Combination; (7) changes in applicable laws or regulations; and (8) the possibility that Kin may be adversely affected by other economic, business, and/or competitive factors. The business combination reflects an estimated implied pro forma enterprise value at closing of $1.03 billion, assuming no redemptions by Omnichannels public stockholders. Once connected with the operator, please provide the conference ID of 13721202., A replay of the call will also be available today from 11:00 am ET to 11:59 pm ET on August 2, 2021. Payments, Small & opens in new window, USA Today: Which tech investments can weather volatile markets best? Payments, Grocery The Chicago-based company, which is currently expanding into new markets, is also preparing to go public. Omnichannel Acquisition Corp. 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