Hippo Holdings Inc (HIPO) News & EventsHIPONews & EventsHippo Holdings Inc

Hippo Holdings Expands Homeowners Insurance Program to 22 States

Hippo Holdings announced that its Hippo Homeowners Insurance Program will expand its availability into 14 additional states through relationships with national distribution partners, increasing the number of states where the program is available from 8 to 22 states in the fourth quarter.

Hippo Reports Q2 Revenue of $144.7M, Beating Expectations

Reports Q2 revenue $144.7M, consensus $137.48M. "The power of the Hippo platform was truly on display this quarter, as we delivered significant top and bottom-line growth, with gross written premium up 61% to $482 million, revenue up 23% to $145 million, and net income up eight-fold from last year to $10 million, while simultaneously advancing our AI initiatives and strengthening our business partnerships," said Rick McCathron, Hippo President and CEO.

Hippo's AI Tool Deployment Shows Early Success with Over 90% Employee Usage

Hippo shared early results from a company-wide deployment of AI tools, including Anthropic's Claude, that has extended AI adoption to every function across the business. In the first 30 days, more than 90% of employees reported using Claude and Hippo's other AI tools, with 86% reporting use multiple times per week and 60% using them daily, according to an internal employee survey. In the same survey, 60% of employees reported saving two or more hours a week and 20% reported saving five to ten hours weekly. 65% cited using AI as a thinking partner as a top benefit, and 58% said it helped them take on tasks they normally wouldn't have attempted. The deployment builds on Hippo's broader AI strategy that spans both the products it builds and the tools it uses to empower employees. Hippo launched Hannah, its AI service assistant, and Clara, its AI claims FNOL agent, earlier this year. More recently, Hippo adopted Devin, Cognition's AI software engineer, to accelerate software development.