Hippo is using artificial intelligence and machine learning to become a better insurance provider.
The company has two signature offerings, one for home insurance and one for condominiums. Hippo uses a single system that makes securing insurance easier for the customer, agent and developer. The system includes everything from document generation and storage to quotes and underwriting, billing and servicing to reporting and agent commissions. And the system streamlines the management process, provides expansion capabilities and reduces costs. And the company announced that it recently hit $20 billion insured value and has raised $109 million in total funding so far. Since the beginning of last year, the company increased its policy sales by 30% month-over-month and expanded into 11 new states.