Home insurer Hippo defends start-up sector despite mounting losses
The head of Hippo has taken aim at sceptics of the home insurer and the sector’s fellow start-ups, saying they have “buried their heads in the sand” after a market sell-off fed doubts over the future of the companies.
Insurtechs, as the start-ups are commonly known, have been some of the biggest losers in the broader stock market downturn as their underwriting losses have mounted.
The companies, which listed during the final leg of the bull market, have responded with job cuts and a greater emphasis on minimising claims and achieving profitability.
This story originally appeared on: Financial Times - Author:Ian Smith
