Hippo

Short interest fell in InsurTechs, but not enough to ease the pressure on the sector.

Everyone knows the phrase “A jack of all trades is a master of none.” Relatively few people know the continuation of the phrase: “but often times better than a master of one.”

Hippo execs showed confidence in the company as the InsurTech diversifies geographically with 63% of new homeowners' premium growing outside California and Texas.

The InsurTech lowered its LR to 128%, helped by cutting the contribution of cats to the loss ratio from 75% to 50%.

Root and Lemonade remain the highest-shorted stocks covered, as short interest in most firms remains flat in anticipation of earnings.

Grace Hanson is to oversee the growth and improvement of Hippo’s claims organization, as well as extend the company’s use of technology and data to increase claims efficiency.

The private equity-backed retail brokers have lessons to teach the sector’s tech start-ups.

Shares in the InsurTech are up 38% since further detailing losses from Winter Storm Uri and PCS cat events last Thursday.

The firm’s stock price falls following mixed quarterly results, leaving an unclear path to profitable growth.

The recent SPAC listings of Hippo and Doma have been subject to significant outfluxes of capital.

The InsurTech’s president spoke to Inside P&C with confidence surrounding its future, despite deterioration in the stock share price and redemptions in tandem with its August 2 IPO.

In its first ever reported quarterly earnings, the InsurTech registered heavy underwriting losses citing cats and real inflation.