Avi Ben-Hutta

New York

Co-Founder and Writer at Coverager

A 🐿 is just a 🐀 with good PR @coverager

Featured in: Favicon

coverager.com Favicon

petnews2day.com

Articles

Openly is working on a car insurance product

5 days ago | coverager.com | Avi Ben-Hutta

Based on two job openings, home insurance startup Openly is getting into the car insurance space. The startup is hiring claims professionals “to spearhead the design, implementation, and leadership” of its new auto claims team. Founded in 2017, Openly offers coverage in 24 states in partnership with Rock Ridge and MS Transverse, and it also owns a licensed carrier. The startup generated $360 million in written premiums in 2024.
GM National Insurance Company reports Q1 results

2 weeks ago | coverager.com | Avi Ben-Hutta

GM National Insurance Company, the licensed carrier that’s part of General Motors, releases its Q1 2025 results, ending the period with $9.5 million in written premiums, compared with $2.6 million in Q1 2024. The carrier generated premiums in 14 states, up from 3 in the same quarter last year. The company ended the period with a net underwriting loss of $15.4 million, a 19% increase compared to Q1 2024. The carrier had a gross loss ratio of 138.4% and an expense ratio of 173.5% in the quarter.
Clearcover Insurance Company reports Q1 results

2 weeks ago | coverager.com | Avi Ben-Hutta

By clicking create account, you agree to our Terms & Privacy. New to Coverager? Clearcover Insurance Company, the carrier subsidiary of car insurance startup Clearcover, has released its Q1 2025 results, ending the period with $32 million in written premiums, a decrease of 21% compared to Q1 2024.
Progressive reports 84.9% CR for April

2 weeks ago | coverager.com | Avi Ben-Hutta

Progressive released its financial results for April, ending the month with a combined ratio of 84.9% and net income of $986 million. Year-to-date, Progressive’s net income stands at $3.5 billion and combined ratio sits at 85.7%. The insurer had ~36.6 million policies at the end of April, an increase of 17% compared to April 2024. During the month, Progressive added around 361k policies to its overall count.
Branch Insurance Exchange reports Q1 results

2 weeks ago | coverager.com | Avi Ben-Hutta

Branch Insurance Exchange, the reciprocal managed by insurance startup Branch, has released its Q1 2025 results, ending the period with $19 million in written premiums, a slight decrease compared to Q1 2024. The reciprocal reported a net underwriting loss of $6.5 million during the quarter, a significant improvement compared to the $22.6 million loss in Q1 2024.
YuLife reaches £100 million in premiums

2 weeks ago | coverager.com | Avi Ben-Hutta

Life insurance startup YuLife has released its financial results for the year ending June 30, 2024. The London-based startup generated £100 million in written premiums, a 31% increase compared to the prior period (£76.6 million). YuLife reported 647k in “lives covered,” a ~14% increase compared to previous period. The startup’s revenue, which includes commissions and SaaS sales, doubled YoY to £10 million.
Hippo reports Q1 results

1 month ago | coverager.com | Avi Ben-Hutta

Hippo has released its Q1 2025, ending the period with a net loss of $48 million, an increase of $12 million compared to Q1 2024. The LA wildfires contributed $45 million to the net loss. Without the impact of the LA wildfires, Hippo’s net loss would have improved by $33 million YoY. The Services segment, which includes the consumer insurance agency, had revenue of $11.7 million, an increase of 3%, and an adjusted operating loss of $3.5 million, a decrease of 34% compared to Q1 2024.
Root reports Q1 results

1 month ago | coverager.com | Avi Ben-Hutta

Root Insurance released its Q1 2025 results, ending the period with ~454k policies-in-force, a 13% increase compared to Q1 2024. Root added 39k policies to its overall count during the quarter. Gross premiums written increased 24% YoY to $411 million. Net loss and LAE ratio improved 8 points YoY to 64%. Net combined ratio improved 6 points YoY to 96%. The company spent $51.5 million on sales and marketing during the quarter, a 69% increase compared to Q1 2024.
Lemonade reports Q1 results

1 month ago | coverager.com | Avi Ben-Hutta

Lemonade released its Q1 2025 results, ending the quarter with 2,545,496 customers, a 21% year-over-year increase. The company added ~115k customers to its overall count during the quarter. In-force premium was over $1 billion, an increase of 27% compared to the same period last year. Premium per customer stood at $396, 4% higher compared to Q1 2024. The company spent $43.2 million on sales and marketing during the quarter compared to $30.4 million in Q1 2024.
GEICO ends Q1 with $2.1 billion profit

1 month ago | coverager.com | Avi Ben-Hutta

GEICO ended the first quarter of 2025 with a $2.1 billion underwriting profit, a ~13% increase compared to the same period last year. Premiums written increased $710 million (6.6%) in the first quarter of 2025 compared to 2024, reflecting an increase in policies in-force and higher average premiums per policy. Losses and loss adjustment expenses increased $10 million (0.1%) in the quarter compared to 2024.