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Hippo Insurance
Work Here?
Homeowners insurance with smart technology integration
Hippo Insurance
Work Here?
Homeowners insurance with smart technology integration
About Hippo Insurance
Industries
Financial Services
Consumer Goods
Company Size
501-1,000
Company Stage
IPO
Headquarters
Palo Alto, California
Founded
2015
Overview
Hippo provides homeowners insurance that combines traditional coverage with smart home technology and proactive home care services. Their insurance policies not only protect homes but also include advanced features like smart home devices that help identify and prevent potential issues before they occur. This proactive approach sets Hippo apart from other insurance providers, as they focus on keeping homeowners informed and prepared. The company generates revenue through the sale of insurance policies and additional home care services. Hippo's goal is to enhance property protection and provide peace of mind to homeowners by integrating technology and proactive care into their insurance offerings.
Simplify's Take
What believers are saying
- Increased smart home device adoption boosts demand for Hippo's integrated insurance products.
- Growing interest in proactive home maintenance aligns with Hippo's business model.
- Hippo's improved non-weather loss ratio positions it for sustained growth in 2025.
What critics are saying
- Rising smart home technology costs may impact Hippo's profitability.
- Increased competition from insurtech startups could erode Hippo's market share.
- Potential regulatory changes on smart home data use could complicate Hippo's model.
What makes Hippo Insurance unique
- Hippo integrates smart home technology with insurance for proactive home protection.
- The company offers personalized maintenance advice through the Hippo Home app.
- Hippo's partnership with Snapsheet enhances claims processing efficiency and customer satisfaction.
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Funding
Total Funding
$1224.7M
Above
Industry Average
Funded Over
8 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Flexible Work Hours
Paid Vacation
Paid Sick Leave
Paid Holidays
Hybrid Work Options
Company Equity
401(k) Retirement Plan
401(k) Company Match
Parental Leave
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -1%2 year growth
↑ 0%Markets were awash in a sea of red this past week, and the broader gauges, such as the Dow and the SP 500 Stock Index, have touched correction territory, down at least 10% from their peaks. The FinTech IPO Index fared no better through the past five days, sinking 4.8%, and there were few positive returns to be seen among the downdraft. Macro concerns — particularly on tariffs and the as-yet-untold impact of a trade war — ruled the week. Financial sector names were among the hardest hit, particularly those with a presence in crypto markets, and Robinhood’s shares were more than 19.5% lower
From Renewed Commitments to DIY Home Maintenance to Purchasing Flood Insurance, U.S. Homeowners Embrace Proactive Strategies to Protect Their InvestmentPALO ALTO, Calif., Jan. 8, 2025 /PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today released findings from its third annual Housepower Report. The national survey of over 2,000 U.S. homeowners revealed the creative steps homeowners are taking to protect their homes in 2025."In 2024, when faced with unexpected repairs, many homeowners shelled out high out-of-pocket costs to manage their homes," said Hippo President and CEO Rick McCathron. "We understand the importance of preventative care and are here to help homeowners confidently protect their homes, and in turn, their primary financial investment, from offering insurance coverage tailored to their needs to providing personalized maintenance advice in the Hippo Home app all year long."Findings from the 2024 Housepower Report Include:Unexpected Repair Costs Soared in 2024In 2024, nearly half (46%) of homeowners spent more than $5,000 on unexpected repairs - an increase from 36% in 2023
PALO ALTO, Calif., Nov. 8, 2024 /PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today announced its consolidated financial results for the three months that ended September 30, 2024. "The positive momentum we've built over the past year continued in the third quarter as we took a significant step forward on our path to profitability," said Hippo President and CEO Rick McCathron. "We strengthened our foundation for future growth by continuing to develop our Hippo New Homes Program and delivered our best-ever year-over-year improvement to our HHIP non-weather loss ratio--positioning us for a successful fourth quarter and sustained growth in 2025 and beyond.". Hippo also announced that it sold a majority stake in First Connect Insurance Services to Centana Growth Partners, who will invest new capital into First Connect to fund its future growth
PALO ALTO, Calif., Aug. 8, 2024 /PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today announced its consolidated financial results for the three months that ended June 30, 2024. Complete financial results and full year guidance for 2024 can be found in the company's shareholder letter in the Investor Relations section of Hippo's website at https://investors.hippo.com/. "Our plan to reduce the volatility in our homeowners program passed its first meaningful test, as we delivered a substantial year-over-year reduction in catastrophic losses despite another quarter of elevated severe weather," said Hippo President and CEO Rick McCathron. "We used proprietary technology to drive efficiencies into our operations, which resulted in higher customer lifetime value and lower customer acquisition costs, and we improved access to insurance for customers buying new homes. We are well-positioned for continued growth and on track to achieve our long-stated goal of positive Adjusted EBITDA in Q4."
CHICAGO, IL [May 7th, 2024] - Snapsheet, a pioneer in cloud-based claims management software and virtual appraisals, announced today it is partnering with Hippo, the home insurance group focused on proactive home protection, to enhance the claims experience for homeowners.
Hippo Insurance is Hiring for 19 Jobs on Simplify!
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About Hippo Insurance
Industries
Financial Services
Consumer Goods
Company Size
501-1,000
Company Stage
IPO
Headquarters
Palo Alto, California
Founded
2015
Hippo Insurance is Hiring for 19 Jobs on Simplify!
Find jobs on Simplify and start your career today