Why More Than 10,000 People Have Switched To LOOP (And Why They’re Staying)

Published on
March 15, 2023

From A Simple Waitlist To Paying Members

The car insurance industry is broken. Traditional insurers charge more based on factors that have nothing to do with how you drive, like gender, job title, marital status, and credit—which can be systematically biased against vulnerable communities. But we’re is different.

Not long ago, LOOP was gearing up for launch with over 30,000 people on its waitlist, eager to be a part of our vision for a better car insurance experience. Fast forward to today, and LOOP now boasts 10,000 paying Members who have made the switch and are reaping the benefits of being part of a mission-driven company.

LOOP's focus on the individual, with their unique needs and desires, has struck a chord with people looking for more than just a transactional relationship with their car insurance provider.

Here's why people have joined LOOP as paying Members and why they're staying.

A Sense Of Community

LOOP's emphasis on building a community has resonated with Members like Samantha Lopez. "LOOP is a community-driven company," Lopez stated. "Buying into a company that values its customers outside of just selling you insurance is priceless".

This community was fostered through in-person events, weekly clubhouse meetings open to anyone, and a mission centered around the belief that insurance is for everyone and shouldn't be plagued by bias and prejudice. Members like Mike Yates also appreciates the effort LOOP puts into building community. "No insurance companies build community like this", Yates said.

Fighting For Equitable Insurance For Everyone

Members like Lopez are also drawn to LOOP's commitment to Equitable car insurance that isn't based on factors irrelevant to driving, like credit score. "Let's not forget that LOOP was founded by a woman and a Latino, both of whom have the cultural relevance to know that folks are consistently being plagued with bias", Lopez said. "So to me, it's important to support not only what may benefit me financially, but also support what will positively impact our communities".

And since inception, LOOP has focused on delivering on our promises. In 2022 alone, we were able to save our members $6.28M from industry bias!

Having Their Voices Heard

Conny Guerrero joined LOOP to be part of an insurance company that sees her as a human being, with a voice worth hearing. "[Being a part of LOOP] means I have a voice somewhere”, Guerrero said. "You don't feel ashamed to actually share what you think…and they actually listen to it". This feeling of being heard and valued is a key reason many Members are choosing to stay with LOOP.

Using Data For The People

With a background in technology and software building, Yates is also a fan of LOOP's technology-driven approach. Co-founder Carey Anne Nadeau's expertise in data science has been put to work at LOOP to calculate fair insurance rates using AI and location-based driving data (called telematics). "Carey's background in data science, and using data for the people, is the thing that really drew me in", Yates said.

What New Members Have To Say About LOOP This Year

“I’m 76 years old working 2 jobs in the healthcare field. I’m a speech therapist so I travel to people’s homes, and when LOOP came up I read all the history and everything about it, and I thought WOW! Because I have had my identity stolen and my credit is a disaster... I can’t afford to pay thousands and thousands of dollars... They (other insurance companies) look at my credit report and that’s what they go off of, but this has been a blessing for me. — Sonja Eckert  
“I just got to say that y’all have probably been the best insurance company I’ve ever had since driving in general so I want to thank you all for being amazing. Thank you for looking out for us. I really appreciate it.” — Tristen Goatcher  
“I love the disruptive nature of LOOP’s business model. This is a major shift to the insurance industry—quality, affordable, inclusivity!” — Michael Smith
I’ve had orders at McDonalds take longer. It was so quick so painless and quite literally saved me close to 50 percent off my car insurance.” — Christian S. Armstrong

Being A Part Of The LOOP Family

LOOP hasn't only built a community, but it has also fostered a sense of family among our Members. Bonds have been formed through in-person events, online interactions, and shared values.

Members like Yates and Lopez have made lasting connections through LOOP. "I've been fortunate enough to have made what I would call lifelong friends through LOOP. I'm so proud of all the work that they're doing, so to be a part of that is such an honor”, Lopez shared.

If you're ready to join the LOOP family and become a Member, check out your price today.

You don’t need a good credit score to have great car insurance!

Check out how much you could save today.

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