Former Intel Capital investor and consultant to McKinsey, Assaf Wand watched his father work through the antiquated home and auto insurance industry. Wand reached out to successful startup CEO Eyal Navon to start their own insurance company.
Hippo uses AI and big data to aggregate and analyzes property information. The company then sells insurance policies directly to customers and through independent insurance brokers.
In November 2019, Hippo acquired a home maintenance startup company Sheltr for an undisclosed amount.
Hippo is looking to modernize the insurance industry. At the end of March 2020, Hippo teamed up with SimpliSafe, to lower homeowners’ insurance premiums by expanding the suite of services available within Hippo’s extensive smart home program. This will include professionally monitored devices from SimpliSafe, which currently has more than 3 million customers.
Hippo Insurance maintains a corporate office in Palo Alto, California.
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