Kin SPAC Presentation Deck
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More Tools to Control Loss & LAE
Our direct model gives us a unique ability to manage cost drivers
Our system & agents adapt quickly to change, provide clear explanations to customers, and log customer consent
Our customers almost always choose to lower their premium by removing unnecessary cost drivers from their policy.
We are one of the few carriers with non-AOB policy
RSPS = Large Claims Saving on Older Roofs
ROOF SURFACING PAYMENT SCHEDULE ENDORSEMENT
endorsement modifies the Loss Settlement Condition in the policy form with respect covered
loss for roof surfacing caused by the perill of Windstorm or Hail, including a covered "hurricane loss".
Such loss will be subject to loss settlement based on the Roof Surfacing Payment Schedule below.
Age of
Roof in
Years
0
1
2
3
4
5
6
7
8
9
10
Composition
Shingle
100%
96%
92%
88%
84%
80%
76%
72%
68%
64%
and
Roof Surfacing Payment Schedule
Metal/
Slate
100%
99%
98%
97%
96%
95%
94%
93%
92%
91%
90%
Roof Surface Material Type
Concrete /
Clay Tile
100%
98%
96%
94%
92%
90%
88%
86%
84%
82%
A0%
Wood
Shake /
Shingle
100%
98%
96%
94%
92%
90%
88%
86%
84%
82%
An%
Tar / Gravel /
Rolled
100%
96%
92%
88%
84%
80%
76%
72%
68%
64%
60%6
Other Roof
100%
96%
92%
88%
84%
80%
76%
72%
68%
64%
60%
Endorsement limits exposure to the perils of wind
and hail on homes with older roofs.
KIN HỌ AOB 07 19
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
ASSIGNMENT OF BENEFITS ENDORSEMENT
For a premium credit, this policy restricts in whole your right to execute an "assignment
agreement".
SECTION I AND II - CONDITIONS
7. Assignment is deleted and replaced by the following:
7. Assignment
Assignment of this Policy will not be valid unless we give our written consent.
Under SECTION I-CONDITIONS of this Policy, post-loss insurance benefits may not
be assigned to a third party under any "assignment agreement". There is no coverage
for all liabilities, damages, losses, and costs, including, but not limited to, attorney fees,
that arise out of the "assignment agreement" being prohibited due to this endorsement or
invalidated because of non-compliance with Florida law.
All other provisions of your policy apply.
Launched it as the first of its kind; ~99% attachment
rate since launch
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