Partnering with a Digital-First Insurer to Streamline and Enhance the Homebuying Experience

The homebuying process has drastically changed in recent years. Homebuyers today expect a seamless, digital-first journey from researching homes to securing insurance.

According to Zillow's Consumer Housing Trends Report 2024, nearly 90% of new construction buyers use digital tools, with 67% confident enough to make an offer after only a virtual tour.

However, while digital tools simplify the home search, securing home insurance can still be frustrating, especially for new construction homes. The challenges include: 

1. Missing or Incomplete Address Data: New homes often lack database listings, making it hard for insurance companies to locate them. 
2. Unknown Property Characteristics: The unique features of newly built homes aren’t always available, leading to inaccurate underwriting or lengthy questionnaires that may end in declined applications. 
3. Risky Location Perception: Despite modern construction codes, homes in areas impacted by climate change may face higher premiums or rejections due to outdated assumptions. 

Partnering with innovative, tech-forward companies can enhance the overall customer experience and simplify the homebuying process.

A digital-first insurance company like Hippo can help streamline this experience by providing accurate, fast, and transparent insurance coverage options, while leveraging access to builder data to help customers determine the best coverage options for their specific needs.  

Hippo: Simplifying Home Insurance for Buyers

With buyers increasingly looking for convenience, integrating services like home insurance directly into the homebuying journey can be a major win to help simplify the process.

Hippo offers homebuilders the ability to integrate home insurance options directly into their websites or sales platforms. This integration provides new construction buyers with: 

1. Personalized Quotes: Homeowners insurance options s based on the specific property, ensuring accurate pricing based on factors like location, property value, and individual coverage preferences. 
2. Competitive Pricing: By integrating insurance into the homebuying process, Hippo is able to offer competitive pricing and potential discounts on homes. 
3. On-Time Closings: Streamlining the insurance process can help avoid delays due to incomplete insurance policies, ensuring a smooth and timely closing. 
4. Enhanced Customer Experience: Offering an integrated, simplified insurance solution helps enhance the customer experience by making the homebuying process more efficient and convenient for each individual's specific insurance needs and circumstances.   

By providing access to home insurance, you’re not only offering a value-added service to your customers but also helping to simplify the closing process, which could help reduce delays and improve transaction efficiency. 

Insurance Solutions for Builders

Whether you’re a large production builder or a custom homebuilder, Hippo offers flexible solutions: 

• Digital Integration: For builders with advanced systems, Hippo provides a seamless integration for offering automated insurance quotes to homebuyers. 
• Low-Tech Options: For smaller builders, Hippo offers simple referral solutions that help streamline the insurance process.

Partnering with Hippo enables builders to provide added value to homebuyers while staying efficient and forward-thinking.

Conclusion

As the homebuying process evolves, Hippo is helping builders meet buyer expectations by simplifying insurance at every stage. Hippo’s solutions help streamline the insurance process, making it easier for builders to provide a modern and seamless experience for their customers.  

Interested in learning more about how Hippo can support your homebuyers? Contact us today to explore available solutions.