Hippo is a new start-up that is trying to revolutionize the way consumers purchase home insurance. The company utilizes big data to streamline the process and take it from agencies and agents to online.
Assaf Wand is the CEO of Hippo. He joins Cheddar to explain how Hippo is disrupting the insurance space. Hippo boasts a 90-second process and savings of up to 25%. Wand explains this is due to their use of big data. Hippo tries to foresee any issues in your home and through big data are able to give you an estimate in those 90 seconds rather than the 4 days it normally takes.
Wand explains that Hippo's customer acquisition strategy has been furthered through networking. Their key to success has been getting their product and info in front of new homebuyers so they are exposed to the brand as they are closing on a new deal.
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
