The Women Leading InsurTech
Insurtech startups are changing the insurance industry through savvy use of automation, data analytics, connected devices and machine learning. Insurtech is anticipated to grow from 4 percent of the current insurance market to more than 10 percent by 2023, according to a recent Jupiter report, totaling more than $400 billion in premiums.
One company leading that movement is , a California-based insurtech company that is transforming home insurance - primarily aimed at solving the underinsurance problem more than half of the US homeowner population faces today.
Three preeminent women at , are among those leading this growing industry.
Angela Grant, Head of Compliance and Legal at Hippo, is a creative leader with intuitive legal and business expertise and a technology-driven mindset. She has 25+ years of proven success as an ethics and compliance advocate, helping organizations to create, build and improve compliance programs. Angela provides innovative legal advice & counsel and was recruited to proactively assist Hippo’s leadership team with creating a compliant business model for marketing, selling, underwriting and servicing homeowner products.
Nicole Perrault, Head of Actuarial and Risk Management, manages the execution of the Insurance product and pricing for Hippo Insurance. She has a 15 year background in many facets of risk and actuarial analysis, including other successful insurance startups. She is passionate about building teams and processes that integrate analytics and drive efficiency across many insurance functions - including financial planning, capital modeling, product and pricing
"Insure-tech is an industry that is trying revolutionize a historical monster in a start-up environment. It requires all participants to be determined yet patient, passionate yet adaptable, and be opinionated yet collaborative. I think being women, we have a head start on this."
Andrea Collins, Head of Brand Marketing at Hippo, is a national award-winning public relations and marketing professional with nearly 20 years of experience. Andrea creates and maintains public relations and marketing campaigns for startups and multimillion-dollar companies across diverse industries. She has a proven ability to drive and execute growth incentives that meet and exceed marketing and sales goals.
"My passion for insurtech grew out of the industry's need for creative, strategic solutions to age-old problems,” says Collins. “As a woman in the industry, and natural problem solver, I regularly serve as a counterbalance in business meetings, navigating rough waters with grace and appreciate the challenge of aligning financial products with today's consumer needs."
Hippo launched in 2017, providing insurance policies with more comprehensive coverage for today’s homeowners while cutting premium costs up to 25 percent. Since January 2018, the company grew its policy sales by 30 percent month over month and launched into 11 new states covering more than $25 billion in total property value. All Hippo insurance policies are backed by world-leading reinsurers. Hippo delivered over 800 product updates in 2018 alone, or roughly two per day, and doubled its online conversion rate during the same time period.
The company recently announced $70 million round of growth funding co-led by Felicis Ventures, a venture firm investing in the iconic companies of today and tomorrow, and Lennar Corporation, the nation’s leading homebuilder. This recent round brings the Hippo’s total funding raised to $109 million.
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