Hippo Holdings Inc.

What Hippo Holdings Inc. does

Hippo Holdings Inc. is a technology-driven home insurance company founded in 2015 and publicly traded on the NYSE under ticker HIPO since completing its SPAC business combination with Reinvent Technology Partners Z in August 2021. The company provides homeowners, landlord, fire, flood, auto, pet, and umbrella insurance products, delivered through a digital-first platform that generates quotes in under 60 seconds, supported by the Hippo Home mobile application for ongoing home maintenance. Underwriting and fronting capacity is anchored by Spinnaker Insurance Company, a wholly owned subsidiary rated A- by A.M. Best with Financial Size Category IX (policyholder surplus above $250 million), and Hippo Insurance Services, a 50-state licensed insurance agency that earns commissions on premiums placed with more than 70 carrier partners.

The company earns revenue from three streams: insurance premiums via Spinnaker and partner carriers (subscription/recurring), agency commissions on affiliated and non-affiliated carrier business (affiliate/referral), and fronting carrier fees from MGA relationships such as the Accelerant Risk Exchange partnership (managed services). Distribution is multi-channel: direct-to-consumer via hippo.com and the mobile app, strategic distribution through Progressive's HomeQuote Explorer platform and in-house agents across eight states, and wholesale fronting for MGAs and specialty programs through Spinnaker. Hippo products are available to homeowners in 38 US states covering more than 80% of the population, with strategic emphasis on proactive home protection through smart home device integration with Ring, SimpliSafe, and Kangaroo.

The technology stack layers AI across the operating model: Anthropic's Claude is deployed company-wide with 90% employee adoption, Clara is a 24/7 conversational voice AI agent for first notice of loss, Hannah is an AI service assistant, Devin is an autonomous AI software engineer used across the engineering organization, and computer vision property intelligence is sourced through partnerships with Zesty.ai, CAPE Analytics, and Arturo. In Q2 2026, Hippo reported $144.7 million in revenue (up 23.36% year-over-year), $482 million in gross written premium (up 61.5% year-over-year), and $10 million in net income representing its fifth consecutive profitable quarter, with a combined ratio of 95.8% and full-year 2026 GWP guidance of $1.65-1.7 billion.

Name

Hippo Holdings Inc.

Legal name

Hippo Holdings Inc.

Website

https://hippo.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Hippo Holdings is a technology-driven home insurance company offering digital-first homeowners coverage in 38 US states, serving individual homeowners, landlords, MGAs, and home builders through Spinnaker Insurance, agency commissions, and partnerships with Progressive and Accelerant.

Ownership category

akta.pro rank

Headquarters

HQ city

San Jose

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Premiums: Hippo earns insurance premiums through its wholly-owned subsidiary Spinnaker Insurance Company and partnerships with 70+ carrier partners. Premiums are collected from homeowners, landlords, and commercial property owners for property and casualty coverage.
2. Agency Commissions: Hippo Insurance Services operates as a licensed insurance agency earning commissions from affiliated and non-affiliated insurance carriers based on a predetermined percentage of premium written.
3. Fronting Carrier Fees: Revenue generated from fronting carrier services provided to MGAs and partners like Accelerant, where Hippo provides capacity and regulatory licensing in exchange for fees on gross written premiums.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Hippo provides technology-enabled homeowners insurance and related property insurance products delivered through a digital-first platform that issues quotes in under 60 seconds, paired with smart home device integrations and proactive home maintenance tools. Through its wholly owned Spinnaker Insurance Company carrier and 70+ carrier partners, Hippo underwrites and distributes homeowners, landlord, fire, flood, auto, pet, and umbrella policies across 38 U.S. states. The company also offers fronting carrier and capacity services to managing general agents via the Accelerant Risk Exchange.

Product overview

Hippo Holdings Inc. operates as a technology-driven insurance company offering a comprehensive home protection platform. The core product is Hippo Homeowners Insurance, a digital-first policy providing coverage in under 60 seconds. The portfolio includes Hippo+ premium tier, landlord insurance, fire insurance, auto insurance, flood insurance, and pet insurance as add-on coverages. The platform is supported by the Hippo Home App for ongoing home maintenance and care. Spinnaker Insurance Company serves as the wholly owned carrier subsidiary providing underwriting capacity. First Connect serves as an agent marketplace platform connecting carriers and MGAs. The company deploys AI tools including Clara (claims AI), Devin (software engineering AI), and Hannah (service assistant), along with smart home sensor integrations with Ring and SimpliSafe for proactive home protection. Recent AI launches include company-wide Claude deployment and an AI-driven claims workflow transformation.

Differentiator

Problem solved

Functional benefit

Brands

• Hippo Home App: Mobile application for home maintenance, seasonal tips, and home care resources
• Hippo+
• First Connect
• Clara
• Devin
• Hippo Builder Insurance Agency

Products and services

• Hippo Homeowners Insurance

Quantifiable outcome

• 61.5% year-over-year growth in gross written premium to $482 million in Q2 2026
• +6 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability8 records

Feature6 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• AccelerantflagshipStrategic or Co-development Partner · 30 June 2026Enhanced partnership with specialty insurance platform Accelerant, effective July 1, 2026. Hippo serves as fronting carrier for more than $500 million in annual gross written premiums across Accelerant's US portfolio in 2027. Full program commencing October 1, 2026. Partnership enables Hippo to achieve its $2 billion GWP target in 2027, a full year ahead of original plan. Provides access to Accelerant's Risk Exchange platform including specialty insurance portfolio, risk selection technology, analytical capabilities, distribution channels, and reinsurance connectivity.
• Mountain Re Ltd.coreOthers · 1 June 2026Catastrophe bond issuer for Spinnaker Insurance Company's Mountain Re Ltd. (Series 2026-1) issuance seeking $100 million or more in collateralized reinsurance. Provides wildfire coverage expansion as part of Hippo's 2026 reinsurance program.
• Progressive InsurancecoreChannel Partner/ Reseller/ Distributor · 19 March 2026Strategic distribution relationship making Hippo's homeowners insurance products available through Progressive's HomeQuote Explorer platform and in-house agents. Partnership covers eight states: Colorado, Georgia, Illinois, Ohio, Pennsylvania, South Carolina, Tennessee, and Texas. Provides Hippo access to Progressive's broad distribution network and customer base, allowing multi-policy discounts for consumers shopping with Progressive. Both companies leverage technology-driven approaches to deliver personalized coverage.
• Spinnaker Insurance CompanycoreOEM/ Whitelabel/ Licensing PartnerWholly-owned subsidiary of Hippo Holdings. National property and casualty insurer rated A- by AM Best, achieved Financial Size Category IX representing policyholder surplus above $250 million. Provides fronting capacity and programmatic insurance solutions.

Scale indicators18 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Progressive: Progressive is a major national P&C insurer and Hippo's strategic distribution partner through the HomeQuote Explorer platform in eight states. It is broadly comparable as a large incumbent operating in the same homeowners insurance market while also serving as a key channel for Hippo's growth.
• State Farm: State Farm is the largest US P&C insurer with significant homeowners insurance market share and the largest captive agent network. Comparable as a broad incumbent that competes directly with Hippo in homeowners insurance and sets the bar for agent-driven distribution at scale.
• Allstate: Allstate is one of the largest US P&C insurers with a significant homeowners insurance business and extensive agent network. It competes directly with Hippo in homeowners insurance and is pursuing its own digital transformation initiatives that could pressure Hippo's positioning.
• Travelers: Travelers is a leading national P&C insurer with strong homeowners and commercial property offerings, often serving as a benchmark for underwriting profitability in the property insurance segment. Comparable as a broad incumbent competing for the same homeowner and specialty property risks.
• Nationwide: Nationwide is a major P&C and homeowners insurance company and one of Hippo's carrier partners. Comparable as a broad incumbent operating in the same homeowners insurance market with both direct-to-consumer and independent agent distribution models.
• Liberty Mutual: Liberty Mutual is a major P&C insurer with a significant homeowners insurance business and is also displayed as a carrier partner on Hippo's website (alongside Bamboo and Stillwater). It is comparable as a broad incumbent in the homeowners market and a potential channel/competitor dynamic.

Direct peers

• Kin Insurance: Kin Insurance is a digital homeowners insurance company focused on catastrophe-exposed states. It directly competes with Hippo in the tech-enabled homeowners insurance market with a similar direct-to-consumer model and emphasis on data-driven underwriting.
• Lemonade: Lemonade is a digital-first insurance company offering homeowners, renters, and pet insurance using AI-powered claims handling. It is the closest direct peer to Hippo in the insurtech homeowners insurance space, with similar AI-driven underwriting and consumer brand positioning.

Emerging players

• Root Insurance: Root Insurance is an insurtech company using data-driven, telematics-based pricing in auto insurance. Comparable as an emerging insurtech peer pursuing similar AI and data-driven underwriting approaches, though with a narrower auto-only focus.
• Trisura: Trisura is a specialty insurer providing fronting carrier and program business services to MGAs and specialty distributors. Comparable to Hippo's Spinnaker Insurance fronting carrier business model serving MGAs like Accelerant, with similar specialty insurance platform economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hippo-insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hippo Holdings Inc.