Founder Assaf Wand to Serve as Executive Chairman
PALO ALTO, Calif., June 06, 2022 – Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today appointed Richard McCathron as Chief Executive Officer. McCathron has served on Hippo’s board of directors and as the company’s President since February 2017. Assaf Wand, Founder and prior CEO, has become Executive Chairman of the Board to focus on long-term strategic initiatives.
“Rick has been my partner every step of the way, from the creation of Hippo’s strategic vision, to growing our strong stable of partnerships, to driving the company forward every day,” said Wand. “In this next phase of Hippo’s growth, it’s a natural progression for Rick to step into the CEO role so I can focus on longer term strategic initiatives. Rick’s extensive insurance expertise, combined with his proven ability to drive growth, set him up perfectly to lead Hippo into the future.”
“I want to thank the Board for their confidence in my leadership and Assaf for his ongoing support,” said McCathron. “I am honored and energized to work with our talented teams and partners to make Hippo’s proactive approach to home protection a transformational force in the insurance industry.”
Before joining Hippo’s executive team and board, McCathron held senior executive positions at multiple insurance companies including First Connect Insurance as its President & Chief Executive Officer from 2012 to 2017, Superior Access Insurance as its President & Chief Executive Officer from 2007 to 2010 and Mercury Insurance Group as its Regional Vice President from 2004 to 2007.
In his role as President of Hippo, McCathron was responsible for all day-to-day operations of the company, enabling him to develop a deep understanding of Hippo’s customers, partners, and unique technology capabilities.
Hippo Insurance Services offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. Our goal is to make homes safer and better protected so customers spend less time worrying about the burdens of homeownership and more time enjoying their homes and the life within. Harnessing real-time data, smart home technology, and a growing suite of home services, we are creating the first integrated home protection platform. Hippo is headquartered in Palo Alto, California with offices in Austin, Dallas, Oakland and New Jersey, and insurance products available to more than 88 percent of U.S. homeowners in 38 states. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various insurance companies. For more information, including licensing information, visit http://www.hippo.com.