Insurtech stat-up Hippo has closed a $100m Series D funding round led by global technology investment firm Bond.
The California-based insurtech intends to invest the proceeds to expand its geographic reach to more than 80% of the homeowner population in the US by the end of 2019.
Go deeper with GlobalData
Also, the fund will be used to boost direct-to-consumer product portfolio and expand distribution network of partners, the company said.
Hippo, which was launched in 2017, has been ramping up its presence in modern home insurance market, from coverage and pricing to claims and service.
Additionally, Hippo offers complimentary smart home devices, to safeguard homeowners against water leaks, fire damage and break-ins.
Hippo’s data-driven pricing and real-time underwriting analyses public data sets, from municipal building records to satellite photo of physical property characteristics, to produce a more precise summary of a customer’s property.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAs a result, the qualified customers receive a complete, bespoke and accurate quote in less than 60 seconds, and reduced premium costs of up to 25%.
Hippo co-founder and CEO Assaf Wand said: “We launched Hippo to transform the outdated and often frustrating relationship people have with their home insurance provider into one that’s approachable, modern, and always adding value.
“Not only are more than 60% of US homeowners underinsured but traditional insurance only interacts with you when you file a claim. We’re providing more comprehensive policies and helping customers prevent claims from ever happening through protective services, programs and alerts that safeguard their homes, a family’s largest personal asset.”
Hippo has so far raised a total of $209m from Comcast Ventures, Felicis Ventures, Fifth Wall, Hillhouse Capital, Horizons Ventures, ICONIQ Capital, and Lennar Corporation, among others.
