Insurtech Hippo Launches In California

Hippo Insurance, provider of “smart home coverage for modern households,” has officially launched in California following a $14 million funding round in December led by Horizons Ventures. Hippo offers customers homeowners and condo protection backed by TOPA Insurance, boasting it delivers online quotes in 60 seconds. According to CEO Assaf Wand, the startup is working to cover the 60% of U.S. homeowners who are underinsured. “Many [customers] believe they have coverage that isn’t actually in their policies,” said Wand. “And the majority spend too much time and money purchasing the product, due to outdated commissioned agents and various hidden fees.”