Not Disruption, but Modernization: The Story of Hippo Insurance

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As our guest, Richard L. McCathron says: “When you are in the insurance industry, you generally surround yourself with people that are somewhat risk-averse. There are people in the industry who do want to modernize, who do want to change, ones that get really excited about what’s going on with AI and machine learning. Ones that truly want to shift the way things have been done and those types of folks look for opportunities to do that”. This is the story of what can happen when those innovators come together. For the insurance agents and homeowners who are looking for a new home insurance product, this is for you. Hippo is reducing the friction involved in the traditional insurance buying process and it is here to stay. The goal of taking a human approach to claims and the mission to protect the joy of homeownership truly puts the customer first. 

Richard L. McCathron, CPCU, CIC, brings more than 25 years of P&C experience to his role as President of Hippo. Rick joined the company in 2017 to establish Hippo’s insurance operations team and bring Hippo’s smart, simple and proactive home insurance products to scale. In just over four years, Hippo has become a national leader in the U.S. homeowners market, reaching more than 80% of the total U.S. homeowners population. Hippo’s integrated platform, which includes a growing suite of proactive services designed to prevent loss, is a modern approach to home insurance that brings customers greater peace of mind.

Prior to Hippo, Rick held senior executive positions at well-respected insurance companies including First Connect Insurance as its President & CEO, Superior Access Insurance as its President & CEO, and Mercury Insurance Group (NYSE-MCY) as its Regional Vice President. Rick is both a Chartered Property & Casualty Underwriter and a Certified Insurance Counselor and sits on the Board of Directors of Hippo, Spinnaker Insurance Company, and First Connect Insurance. He is an advisor for several other InsureTechs.

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