LOOP experienced strong growth in 2022 by offering fair and transparent pricing, best-in-class customer experience, and making a positive impact on our community.
When diving into the numbers, we’re seeing that our growth comes from our members relating to our mission: fixing a broken and unfair industry.
You’ll see how we’ve grown to provide fair and transparent car insurance in Texas. Key areas of growth include San Antonio, Houston, and Austin. We're also getting new happy members from El Paso, Wichita Falls, and Texarkana.
The report also includes which competitors members are switching from (Progressive, ROOT, and USAA to name a few). As a new insurtech company, we've acheived huge growth this year (at 51,000%)!
Our growth in Members isn’t the only notable stat though.
We've also saved our Members $6.28M from industry bias.
People love that LOOP is in Texas and here’s what they have to say:
“Customer service is phenomenal. Very clear and easy to understand. I felt like the representative was honest and sincere with her answers. I don’t feel like I’m getting the runaround with this company. Thank You!!” — Douglas Edward Hamlin
“He was amazing! And so helpful it’s been a very stressful day and his demeanor and willingness to get me the quickest service possible was amazing!” — Mikayla Stallcop
Let’s Dive Into The Numbers
To view all of the details of our growth this year, check out the PDF below:
And A Message From Our Founders
“We hope you had a great New Year. Wishing you a healthy and prosperous 365 ahead, wherever life takes you.
Reflecting on the past 12 months, it’s been deeply fulfilling and humbling for LOOP to complete its first year of operations. We grew to over 4,000 members all across Texas, saved our members $6.28M from industry bias, and grew our team to 70 people, headquartered right here in Austin, Texas.
Next year, we’ll also be making changes to better reflect how you want LOOP to serve you.
We will be introducing LOOP’s Roadside program, unveiling a brand-new mobile experience, and debuting a social impact initiative to drive good in our neighborhoods. We’ll also be looking for more ways to deliver you an even better rate.
Our thanks as ever for your loyalty as a member. Your support means so much to Carey and I personally, and to Carey and the whole team. Happy New Year. We look forward to Driving Good, together.”
—John Henry and Carey Anne Cofounders and Co-CEOs
You don’t need a good credit score to have great car insurance!
A B-Corp is a Public-Benefit Corporation; which is a for-profit corporation recognized by the majority of U.S. states that are driven by both mission and profit. Shareholders hold the company accountable to produce a financial profit as well as some sort of public benefit.