JERSEY CITY, N.J., and MOUNTAIN VIEW, Calif., March 6, 2019 - Verisk (VRSK), a leading data analytics provider, and Hippo Insurance, the California-based InsurTech company that is transforming home insurance, announced today the integration of Verisk solutions into Hippo`s full range of products.
"Consumers have come to expect easy online purchase options, accurate initial pricing, and efficient checkout solutions," said Aviad Pinkovezky, chief product officer of Hippo Insurance. "Verisk`s solutions help Hippo make it easier than ever for homeowners to purchase insurance online and get claims settled quickly."
By simply entering an address into Hippo`s home insurance site, the data needed to quote and bind a policy is immediately prefilled from Verisk into the application. Customers can get a quote in 60 seconds and complete the purchase in less than four minutes.
Hippo also uses Verisk claims data to help evaluate and process claims quickly. Using Verisk`s vast claims database and dashboard insights, Hippo`s claims team can determine in minutes if a claim can be processed quickly or needs more investigation.
"Having access to this level of claims information is critical to providing our customers with the prompt and empathic help they need to recover from a loss," said Pinkovezky. "Building on our relationship with Verisk has allowed us to strategically leverage data in new ways, not only to benefit our existing clients but also to help propel our growth."
"Customer expectations are constantly changing as new technology creates demand for faster and more convenient service," said Mark Anquillare, executive vice president and chief operating officer of Verisk. "The analytics that Verisk provides Hippo are part of our long-term strategy to offer insurers the tools they need to improve the customer experience."
Hippo is on a mission to transform home insurance for the modern household. Among its many innovations, Hippo allows homeowners to get a quote and purchase home insurance online in 60 seconds or less, save up to 25 percent compared with traditional insurers, and obtain smarter coverage for modern households. This includes protection for possessions like appliances, consumer electronics, and home offices. Founded in 2015 by Assaf Wand and Eyal Navon, Hippo made its debut in the insurance marketplace in April 2017 and has raised $109 million to reinvent home insurance through its initial funding rounds. The company is headquartered in Mountain View, California. For more information, visit www.myhippo.com.
Verisk (VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor`s S&P 500® Index. In 2018, Forbes magazine named Verisk to its World`s Best Employers list. For more information, please visit www.verisk.com.
Edelman (for Verisk)
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Source: Verisk Analytics Inc. via GlobeNewswire