Metromile and Hippo Insurance are partnering to offer consumers home and auto insurance protection by way of a new bundled discount.

Hippo, based in Palo Alto, is an MGA focused on digital homeowners insurance. Metromile is a San Francisco-based digital insurance platform and pay-per-mile auto insurer.

“Offering choice and control are central to who we are and what drivers have come to expect from us. The addition of homeowners insurance through Hippo provides drivers with new options, greater flexibility and a new way to save,” Metromile Chief Executive Officer Dan Preston, said in prepared remarks.

Hippo President Rick McCathron said the partnership will blend “the best of technology with top insurance coverages” to maximize customer experiences.

How It Works

Drivers and homeowners will be able to purchase pay-per-mile auto insurance and homeowners insurance from Metromile and Hippo, respectively, and save up to 15 percent on their auto and homeowners insurance policies when bundled.

The combination of Hippo’s comprehensive home insurance policies with proactive protection and Metromile’s real-time, personalized auto insurance policies is designed to bring consumers more ways to save on their premiums. Through the partnership, Metromile drivers and Hippo homeowners will be able to insure their home, personal belongings and vehicles and benefit from advanced smart devices and technology.

Hippo provides homeowners with access to smart home devices and a protective home insurance platform that offers access to premium discounts on home insurance policies. Home maintenance is a cornerstone of Hippo’s platform that includes smart home devices, homeowner education and proactive alerts enabled by AI and data, the companies noted.

Drivers and homeowners will be able to bundle Metromile auto insurance with Hippo homeowners insurance in Arizona, California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia and Washington state once the partnership launches. Later this year, the partnership will expand to additional states.

Metromile has been pursuing a number of new growth initiatives since it became a public company in February 2021 through a reverse merger transaction. Among them: the company recently announced it would let customers use bitcoin to buy insurance or receive payments for insured claims.

Earlier this year, Hippo formed partnerships with Claimatic and Five Sigma focused on using automation to boost speed and processing of its back-end customer claims service.

Source: Metromile, Hippo

Topics Mergers & Acquisitions Auto Homeowners