Business
Homeowners of America, a Porch Group Subsidiary, Introduces Services in Illinois as Part of Nationwide Expansion Plan
SEATTLE, June 08, 2021 (GLOBE NEWSWIRE) -- Homeowners of America (HOA), a property and casualty insurance provider and recent acquisition of Porch Group, Inc.
About this update from Porch Group, Inc.
[{"type":"text","content":"SEATTLE, June 08, 2021 (GLOBE NEWSWIRE) -- Homeowners of America (HOA), a property and casualty insurance provider and recent acquisition of Porch Group, Inc. (\"Porch” or “the Company\") (NASDAQ: PRCH), announced the launch of service in Illinois. Porch, a leading vertical software company reinventing the home services and insurance industries, completed its acquisition of HOA in April 2021 with plans to drive growth in HOA’s current markets and begin national expansion. HOA now operates in seven states including Illinois. Porch is supporting HOA insurance operations expertise with its low cost and early access to homebuyers who need insurance and robust property data that is unique to Porch. “The Illinois expansion is the start of our commitment to scaling our homeowner’s insurance products across the country,” said Matt Ehrlichman, Porch founder, chairman, and CEO. “Our technology platform enables nearly immediate results for HOA agents and customers. We’re excited to be one of the leaders in the InsurTech industry and we believe additional state expansion will create significant growth for HOA and Porch.” About Porch Group Seattle-based Porch Group, the vertical software platform for the home, provides software and services to more than 14,000 home services companies such as home inspectors, moving companies, real estate agencies, utility companies, and warranty companies. Through these relationships and its multiple brands, Porch provides a moving concierge service to homebuyers, helping them save time and make better decisions on critical services, including insurance, moving, security, TV/internet, home repair and improvement, and more. To learn more about Porch, visit porchgroup.com and porch.com. Forward-Looking Statements Certain statements in this release are forward-looking statements made pursuant to and within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. For example, projections of business strategy and plans and anticipated impacts from pending or completed acquisitions and other statements regarding our expectations, beliefs, plans, strategies, objectives, prospects, assumptions, or future events or performance, are forward-looking statements. Generally, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,”...