Homeowners Insurance Market Opportunity
Hippo: Best in class Insurtech
Hippo
Lemonade
metromile
Root Insurance Co
2023 Scale
Gross Written Premium ($MM)
1,1451
778
5242
2,150
Growth
('21E - '23E
CAGR)
Adj. Gross Profit³
Growth Rate (%)
124%
65%
113%
179%
Retention
One-Year Retention (%)
87%4
62%5
63%6
33%7
Customer
Profile
Avg. Premium Per Policy ($)
~$1,200
$2138
$1,076⁹
$9299
Unit
Economics
LTV/CAC (x)
5.4x
1.
2.
Represents Total Written Premium; defined as the Gross Written Premium of policies underwritten by Hippo and its affiliates
plus the premium of policies placed with third-party insurance carriers where Hippo earns a recurring commission payment.
Represents Direct Earned Premium
3.
4.
A Non-GAAP Metric and may be defined differently for each company
Represents 2019, one-year premium retention
5.
As disclosed in S-1 and adjusted for company-initiated cancellations; as of March 31,2020
Source: Company estimates, subject to change; street estimates; based on latest disclosed financials and available estimates
>2x8
3.1x6
N/A
6.
As of June 30, 2020
7.
Represents one-year retention across two terms after adjustments for company
initiated cancellations, as disclosed in S-1; as of June 30, 2020
8.
As disclosed in the Q4'20 earnings transcript
9.
As of September 30, 2020
Proprietary and Confidential | 42View entire presentation