Porch Group announces Home Factors partnership

Porch Group Media, the data and marketing subsidiary of Porch Group, has signed an agreement to license non-exclusively its Home Factors insights to California-based MGA Bamboo Insurance.

This agreement follows the recent announcement of Home Factors’ official third-party launch in the market. Porch Group Media has Home Factors for approximately 90% of US homes, providing “unique and valuable insights not previously available.” These insights have already demonstrated “strong performance” with Porch’s own insurance carrier, Homeowners of America Insurance Company.

According to its site, Home Factors can provides insights regarding the type of piping, status of electrical systems, and flooring type, among other things.

“Signing our strategic Home Factors partnership with Bamboo is a significant milestone for Porch. This continues to demonstrate the value that Home Factors brings to insurers looking to improve underwriting efficiency and risk assessment through advanced data insights. This agreement marks a key milestone for Home Factors and we are excited about the opportunity to work closely with the innovative team at Bamboo and the impact Home Factors can have on Porch’s future.” – Michelle Taves, VP & Group GM, Data and Marketing.

“We’re thrilled to partner with Porch Group Media and have the opportunity to leverage Home Factor’s exclusive data insights to further elevate our risk selection. As a business, we’re always looking for opportunities to crank up our efficiencies. Given Home Factors’ ability to provide us with unique property data that directly supports our underwriting processes, this partnership was simply a no-brainer.” – Brian Suzuki, Chief Insurance Officer at Bamboo Insurance.