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Reinvent’s co-directors are LinkedIn co-founder Reid Hoffman and Mark Pincus, founder of mobile-game maker Zynga Inc. Hippo’s move will provide funding as it continues a transition from being a partner to insurance carriers that provides a digital-sales channel for them to being both a partner and a direct competitor.
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“Our guiding principle is that the best claim is one that never happens,” said Assaf Wand, Hippo’s chief executive and co-founder. He said becoming a carrier is the best way for the company to control its own path, including offering policies with expansive coverage for electronic gear and home offices.
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