Houston Daily

Eric Meyer, a partner at Activate Capital, said that Kin offers affordable insurance policies in disaster-prone areas while providing essential financial services to homeowners. This statement was made in a press release.

"Kin's unique approach allows them to price affordable policies in geographies disproportionately impacted by extreme weather events," said Meyer. "They're not just writing policies. They're offering a vital financial service to homeowners who need it most. We're enthusiastic about investing further in a company that's truly innovating and making a real difference."

Texas's homeowners insurance market is experiencing significant strain due to repeated hurricanes, hailstorms, and floods, particularly affecting coastal and storm-prone regions. According to the Insurance Information Institute, rising construction and labor costs have exacerbated the crisis, prompting insurers to increase premiums, limit coverage, or exit the market entirely. Reports indicate that private insurers had loss ratios exceeding 100% between 2018 and 2022, meaning they paid more in claims than they collected in premiums.

According to NerdWallet, the average homeowners insurance premium in Texas is approximately $4,585 annually, nearly double the U.S. average of around $2,110. This represents a 117% gap compared to national rates, making Texas one of the most expensive states for coverage. Premiums for a standard $300,000 policy in high-risk regions can be even higher due to Texas's unique exposure to catastrophic weather.

Extreme weather events have imposed substantial costs on Texas homeowners and insurers. According to NOAA and Insurance Journal reports from July 2025 alone estimate flash floods resulted in economic losses of $18–22 billion. Over the past five years, Texas has averaged 13.6 billion-dollar disasters annually—far above historical averages—consistently driving up claims and premiums.

Meyer is a Partner at Activate Capital with a focus on growth equity investments in climate technology, energy transition, and industrial innovation. He previously worked as an Associate at ValueAct Capital and began his career as a Business Analyst at McKinsey & Company. Meyer holds a BS in Chemistry from Yale University and an MBA with honors from the Wharton School.