$50 Million for Kin, But Not a Dime for Your Claim?
The VCs are at it again; shoveling mountains of cash into the same insurance machine that’s been lowballing and denying your claims for decades.
Kin, the so-called “direct-to-consumer” digital insurer, just raised a $50 million Series E round at a fat $2 billion valuation. Add another $200 million debt facility on top, and you’ve got a rocket strapped to an insurance company operating in just 13 states.
They’ve already locked in $600 million of in-force premiums, covering $100 billion worth of property. The pitch is slick: “We use unique data and expert analysis to better assess risk.” Translation? They’ve built a black box that decides whether your home gets coverage—or gets dropped—at the push of a button.
VCs love this because it scales. Denials scale. Risk adjustments scale. Customized pricing? That’s just a polite way of saying: if the algorithm doesn’t like your zip code, you’re screwed.
Meanwhile, you, the homeowner in Florida, California, or Texas—are left begging for protection while companies like Kin cash their chips with venture capitalists.
The Forward-Looking Twist
Kin says it’s launching another reciprocal exchange, a fancy phrase for “we’re letting policyholders shoulder the risk, while we pocket the fees.” With every new funding round, the promise is the same:
More markets!
More products!
More tech!
But the real question is this: Where’s the innovation for the people paying the premiums?
Why isn’t venture money funding:
Policyholder-owned co-ops that return profits to you.
Blockchain-based risk pools with real transparency.
Anti-denial AI that works for claimants, not carriers.
If $50 million can help Kin chase growth, imagine what $5 million invested in policyholder justice could do.
Jack’s Final Word
This game is rigged. Wall Street funds the insurers, the insurers fund the politicians, and the cycle keeps spinning.
But here at Inssux, we’re building the counterweight. Every token, every tool, every story you share—it all feeds a different kind of machine: one built for the people who get denied.
Got denied or lowballed on a claim? Good. You just found your people.
#makethempay #inssux #insurancejustice