Hippo announced a new issuing carrier relationship with Ally Financial Inc. subsidiary, Motors Insurance Corp., which is a 50 state carrier. The deal will strengthen and double Hippo Insurance Services’ insurance underwriting capacity, becoming Hippo’s largest managing general agent (MGA) unaffiliated program to date. Over the last six years, Hippo has expanded its insurance products to reach homeowners in 37 states and grown its distribution partnerships to meet customers when and where they want to buy. The agreement, which will be the first issuing carrier relationship for Ally, enables Hippo to enhance its underwriting capabilities, deliver flexible rates and connects Hippo to a top-20 U.S. financial holding company with a common belief in transforming legacy industries in favor of the customer. Hippo’s capital-light business model and transformational focus matches Ally’s desire to work with a highly diversified book of business such as Hippo’s, which takes a proactive approach to home care and maintenance to protect the joy of homeownership on behalf of its customers. With its portfolio of home care services and products, Hippo has established a new standard for home protection and care through advanced underwriting, smart devices, and preventive maintenance, which in turn helps homeowners foresee potential issues before they turn into costly problems. The agreement with Ally expands Hippo’s book of business across multiple partners and substantiates the MGA portion of Hippo’s business separate from its carrier business through Spinnaker, maintaining a capital light model with sophisticated underwriting guidelines and pricing models. The new relationship will initially launch in 10 states and then roll out nationally.