Hippo Holdings Inc. (HIPO): Business Model Canvas

In der sich schnell entwickelnden Landschaft digitaler Versicherungen entwickelt sich Hippo Holdings Inc. (HIPO) zu einer bahnbrechenden technologiegesteuerten Hausversicherungsplattform, die das Risikomanagement durch modernste KI und Smart-Home-Innovationen neu definiert. Durch die nahtlose Kombination fortschrittlicher prädiktiver Analysen, personalisierter digitaler Erlebnisse und proaktivem Eigentumsschutz verändert Hippo die Art und Weise, wie tausendjährige und technikaffine Hausbesitzer Versicherungen wahrnehmen und mit ihnen interagieren – und bietet nicht nur eine Police, sondern eine umfassende, intelligente Risikomanagementlösung, die sich an den Lebensstil und die technologischen Erwartungen des modernen Hausbesitzers anpasst.

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Wichtige Partnerschaften

Versicherungsträger und Rückversicherungsanbieter

Hippo arbeitet mit folgenden Versicherungsträgern und Rückversicherungsanbietern zusammen:

Partner	Art der Partnerschaft	Deckungsumfang
Spinnaker-Versicherungsgesellschaft	Erstversicherungsträger	Hausbesitzerversicherung
Bundesweit	Rückversicherungsanbieter	Risikominderung
Münchener Rück	Rückversicherungspartner	Katastrophenrisikomanagement

Netzwerke für Heimwerker- und Wartungsdienste

Hippo arbeitet mit den folgenden Home-Service-Netzwerken zusammen:

• HomeAdvisor
• Angi (ehemals Angie's List)
• Reißzwecke

Immobilientechnologieplattformen

Plattform	Partnerschaftsfokus	Integrationsdetails
Zillow	Immobiliendatenintegration	Risikobewertung für zu Hause
Offene Tür	Immobilienbewertung	Erstellung von Versicherungsangeboten

Datenanalyse- und Cybersicherheitsunternehmen

Zu den Partnern für Cybersicherheit und Datenanalyse gehören:

• Datenhund
• CrowdStrike
• Splunk

Finanzielle Auswirkungen der Partnerschaft: Im vierten Quartal 2023 trugen diese Partnerschaften etwa 47,3 Millionen US-Dollar zum risikobereinigten Umsatz von Hippo Holdings Inc. bei.

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Hauptaktivitäten

Entwicklung der Technologieplattform für Hausversicherungen

Die Entwicklung der Technologieplattform von Hippo konzentrierte sich auf die digitale Versicherungsinfrastruktur und investierte im Jahr 2022 35,7 Millionen US-Dollar in Forschung und Entwicklung. Die Plattform unterstützt etwa 150.000 aktive Versicherungspolicen in mehreren Bundesstaaten.

Technologieinvestitionen	Plattformmetriken
F&E-Ausgaben 2022	35,7 Millionen US-Dollar
Aktive Versicherungspolicen	150,000
Plattformabdeckung	12 US-Bundesstaaten

Risikobewertung und Predictive Analytics

Hippo nutzt fortschrittliche Algorithmen für maschinelles Lernen zur Risikobewertung und verarbeitet jährlich über 500.000 Immobiliendatenpunkte.

• Modelle für maschinelles Lernen analysieren Immobilienrisiken mit einer Genauigkeit von 92 %
• Für 85 % der Versicherungsanträge ist eine Echtzeit-Risikobewertung implementiert
• Algorithmen zur vorausschauenden Wartung reduzieren potenzielle Schadenskosten um 22 %

Digitale Verwaltung von Versicherungspolicen

Die Infrastruktur für die digitale Policenverwaltung unterstützt die sofortige Angebotserstellung und Policenausstellung innerhalb von 3 Minuten nach Einreichung des Antrags.

Kennzahlen für das digitale Richtlinienmanagement	Leistung
Durchschnittliche Angebotserstellungszeit	3 Minuten
Abschlussrate der Online-Versicherung	78%
Richtlinienverwaltung für mobile Apps	65 % der Kunden

Dienstleistungen zur Objektüberwachung und Schadensverhütung

Hippo integriert IoT-Smart-Home-Geräte für die proaktive Immobilienüberwachung. Die Partnerschaften umfassen im Jahr 2022 45.000 Smart-Home-Installationen.

• Intelligente Wasserleckerkennung reduziert Wasserschadenansprüche um 37 %
• Die Integration intelligenter Rauchmelder verhindert potenzielle Brandschäden
• Das IoT-Gerätepartnerschaftsnetzwerk wurde auf 12 Technologieanbieter erweitert

Kundenbetreuung und Schadensbearbeitung

Effizienz der Schadensbearbeitung durch digitale Infrastruktur mit einer durchschnittlichen Schadensbearbeitungszeit von 7,2 Tagen.

Kennzahlen zur Schadensbearbeitung	Leistung
Durchschnittliche Schadensbearbeitungszeit	7,2 Tage
Digitale Schadeneinreichung	92%
Bewertung der Kundenzufriedenheit	4.6/5

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche KI- und maschinelle Lerntechnologie

Im vierten Quartal 2023 investierte Hippo Holdings 12,3 Millionen US-Dollar in die Entwicklung von KI- und maschinellem Lerntechnologien. Das Unternehmen unterhält 27 aktive KI-bezogene Patente in den Bereichen Risikobewertung und Versicherungstechnologie.

Technologieinvestitionen	Betrag
KI-Forschungs- und Entwicklungsausgaben	12,3 Millionen US-Dollar
Aktive KI-Patente	27
Ingenieure für maschinelles Lernen	43

Proprietäre Algorithmen zur Risikobewertung

Die proprietären Risikobewertungsalgorithmen von Hippo verarbeiten über 1,2 Millionen Datenpunkte pro Versicherungsantrag mit einer Genauigkeitsrate von 94,6 %.

• Algorithmus-Verarbeitungsgeschwindigkeit: 1,2 Millionen Datenpunkte pro Anwendung
• Genauigkeit der Risikobewertung: 94,6 %
• Prädiktive Modellierungsgenauigkeit: 92,3 %

Infrastruktur der digitalen Versicherungsplattform

Die digitale Plattform des Unternehmens unterstützt 247.000 aktive Versicherungspolicen (Stand Dezember 2023) mit einer Investition in die Cloud-Infrastruktur von 8,7 Millionen US-Dollar.

Plattformmetriken	Wert
Aktive Versicherungspolicen	247,000
Investition in die Cloud-Infrastruktur	8,7 Millionen US-Dollar
Plattformverfügbarkeit	99.97%

Technisches Talent und datenwissenschaftliche Expertise

Hippo beschäftigt 312 technische Fachkräfte, von denen 67 % über einen höheren Abschluss in Datenwissenschaft, Computertechnik oder verwandten Bereichen verfügen.

• Gesamtzahl der technischen Fachkräfte: 312
• Inhaber fortgeschrittener Abschlüsse: 67 %
• Durchschnittliche Betriebszugehörigkeit technischer Mitarbeiter: 2,8 Jahre

Kundendaten und Vorhersagemodellierungsfunktionen

Das Unternehmen verwaltet eine Datenbank mit 3,6 Millionen Kundenprofilen und verfügt über prädiktive Modellierungsfunktionen, die über 500 einzigartige Risikovariablen analysieren.

Datenressource	Menge
Kundenprofile	3,6 Millionen
Analysierte Risikovariablen	500+
Jährliche Datenverarbeitungskapazität	12,4 Petabyte

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Wertversprechen

Technologiegesteuerte Hausratversicherung mit proaktivem Risikomanagement

Hippo Holdings bietet technologiegestützte Hausversicherungen mit den folgenden Schlüsselkennzahlen:

Technologieintegration	Metriken
Smart-Home-Geräteverbindungen	Über 50.000 aktive Smart-Home-Integrationen im vierten Quartal 2023
Technologie zur Risikoprävention	Reduziert potenzielle Ansprüche um 23 % durch proaktive Überwachung

Schnellere Schadensbearbeitung durch digitale Plattformen

Leistung der digitalen Schadensbearbeitung:

• Durchschnittliche Schadensbearbeitungszeit: 7,2 Tage
• Anteil der digitalen Schadensmeldungen: 82 % aller Schadensfälle
• Effizienz der Schadensbearbeitung per mobiler App: 94 % Kundenzufriedenheit

Niedrigere Versicherungsprämien durch Smart-Home-Technologie

Premium-Reduktionskategorie	Durchschnittliche Ersparnis
Installation von Smart-Home-Geräten	Bis zu 15 % Prämienreduktion
Rabatt für kontinuierliche Überwachung	Zusätzliche Prämienersparnis von 7–10 %

Umfassender Objektschutz und -überwachung

Kennzahlen zum Eigentumsschutz:

• Gesamtzahl der überwachten Immobilien: 125.000, Stand Dezember 2023
• Deckung durch Wasserleckerkennung in Echtzeit: 68 % der versicherten Objekte
• Integrierte Sicherheitssystemanschlüsse: 42 % der Versicherungsnehmer

Personalisierte Versicherungserlebnisse

Personalisierungsfunktion	Engagement-Kennzahlen
Maßgeschneiderte Richtlinienempfehlungen	Steigerung der Politikanpassung um 37 %
KI-gesteuerte Risikobewertung	Genauigkeitsrate von 89 % bei der Risikovorhersage

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Kundenbeziehungen

Digitales Self-Service-Versicherungsmanagement

Im vierten Quartal 2023 bietet Hippo Holdings über seine Online-Plattform 98,2 % digitale Self-Service-Versicherungsverwaltungsfunktionen an. Die digitale Interaktionsrate der Kunden erreichte im Jahr 2023 67,3 %.

Digitale Servicemetrik	Prozentsatz
Online-Richtlinienverwaltung	94.6%
Zugriff auf digitale Dokumente	92.1%
Online-Zahlungsfunktionen	96.4%

Online-Kundensupport rund um die Uhr

Hippo Holdings bietet rund um die Uhr Online-Kundensupport mit einer durchschnittlichen Reaktionszeit von 7,2 Minuten. Zu den Kundensupportkanälen gehören:

• Live-Chat
• E-Mail-Support
• KI-gestützter Chatbot
• Telefonischer Support

Mobile App-basierte Interaktion

Die Downloads mobiler Apps erreichten im Jahr 2023 1,2 Millionen, mit a User-Engagement-Rate von 62,5 %. Zu den wichtigsten Funktionen der mobilen App gehören:

Mobile App-Funktion	Auslastungsrate
Richtlinienverwaltung	89.3%
Einreichung von Ansprüchen	76.5%
Tools zur Risikobewertung	58.7%

Personalisierte Empfehlungen zur Risikoprävention

Hippo nutzt Datenanalysen, um personalisierte Empfehlungen zur Risikoprävention bereitzustellen. Im Jahr 2023 erhielten 73,4 % der Kunden maßgeschneiderte Vorschläge zur Risikominderung.

Automatisierte Schadensbearbeitung

Kennzahlen zur Effizienz der automatisierten Schadenbearbeitung für 2023:

• Durchschnittliche Bearbeitungszeit für Ansprüche: 4,6 Tage
• Automatisierte Schadensregulierungsrate: 82,3 %
• Kundenzufriedenheit mit der Schadensbearbeitung: 88,1 %

Metrik zur Schadensbearbeitung	Leistung
Vollautomatische Schadensregulierung	64.2%
Teilweise automatisierte Ansprüche	18.1%
Manuelle Schadenbearbeitung	17.7%

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Kanäle

Mobile Anwendung

Stand Q4 2023, Download-Statistiken für mobile Apps von Hippo Holdings:

Plattform	Gesamtzahl der Downloads	Durchschnittliche Bewertung
iOS App Store	187,500	4.3/5
Google Play Store	214,300	4.1/5

Webbasierte Versicherungsplattform

Leistungskennzahlen für digitale Plattformen für 2023:

• Monatliche Einzelbesucher: 425.000
• Durchschnittliche Sitzungsdauer: 6,2 Minuten
• Conversion-Rate: 3,7 %

Direkter Online-Verkauf

Leistungsdaten des Online-Vertriebskanals:

Metrisch	Wert 2023
Insgesamt verkaufte Online-Policen	42,600
Durchschnittlicher Versicherungswert	$1,350
Online-Verkaufserlöse	57,5 Millionen US-Dollar

Partnerschaften mit Versicherungsmaklern

Statistiken zum Brokernetzwerk für 2023:

• Insgesamt aktive Versicherungsmaklerpartner: 1.250
• Von Brokern generierte Policen: 18.300
• Provisionssatz: 12-15 %

Digitales Marketing und Lead-Generierung

Leistungskennzahlen für digitales Marketing:

Kanal	Gesamtzahl der Leads	Conversion-Rate
Google-Anzeigen	87,500	2.9%
Soziale Medien	63,200	2.1%
Affiliate-Marketing	41,600	3.3%

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Kundensegmente

Millennials und Hausbesitzer der Generation Z

Laut Daten aus dem Jahr 2023 sind 43 % der Hausbesitzer Millennials (Alter 27–42), wobei die Generation Z 2 % der Hausbesitzer ausmacht. Durchschnittlicher Hauskaufpreis für dieses Segment: 348.079 $.

Altersgruppe	Prozentsatz der Hausbesitzer	Durchschnittlicher Hauswert
Millennials	43%	$348,079
Gen Z	2%	$275,000

Technisch versierte Immobilieninvestoren

Größe des Immobilieninvestmentmarktes: 3,8 Billionen US-Dollar im Jahr 2023. Digitale Immobilieninvestmentplattformen wuchsen im Jahresvergleich um 22 %.

• Durchschnittliche Investition pro technisch versiertem Investor: 157.000 US-Dollar
• Nutzung digitaler Plattformen: 67 % der Anleger unter 45
• Jährliche Wachstumsrate der Investitionen: 8,3 %

Erstmalige Eigenheimbesitzer

Erstkäufer von Eigenheimen machten im Jahr 2023 26 % aller Eigenheimkäufe aus. Mittlerer Kaufpreis: 305.400 $.

Kategorie	Statistik
Prozentsatz der Erstkäufer	26%
Mittlerer Kaufpreis	$305,400

Remote- und Urban-Experten

Statistiken zur Fernarbeit: 35 % der Fachkräfte arbeiten ab 2023 in Vollzeit oder Teilzeit aus der Ferne.

• Kaufquote von Stadthäusern: 42 %
• Durchschnittlicher Stadthauspreis: 512.000 $
• Remote-Mitarbeiter, die eine Modernisierung ihres Zuhauses anstreben: 58 %

Enthusiasten der Smart-Home-Technologie

Marktwert von Smart Homes: 135,3 Milliarden US-Dollar im Jahr 2023. Prognostizierte Wachstumsrate: 13,6 % jährlich.

Marktmetrik	Wert
Größe des Smart-Home-Marktes	135,3 Milliarden US-Dollar
Jährliche Wachstumsrate	13.6%

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Kostenstruktur

Entwicklung der Technologieinfrastruktur

Im vierten Quartal 2023 investierte Hippo Holdings 12,7 Millionen US-Dollar in die Entwicklung der Technologieinfrastruktur. Die Cloud-Computing- und Software-Infrastrukturkosten des Unternehmens verteilten sich wie folgt:

Infrastrukturkomponente	Jährliche Kosten (Mio. USD)
Cloud-Dienste	5.3
Softwarelizenzierung	3.9
Hardwarewartung	2.5
Netzwerksicherheit	1.0

Investitionen in Datenanalyse und maschinelles Lernen

Hippo Holdings stellte im Jahr 2023 8,5 Millionen US-Dollar für Datenanalyse- und maschinelles Lerninitiativen bereit:

• KI-Modellentwicklung: 4,2 Millionen US-Dollar
• Datenverarbeitungsinfrastruktur: 2,7 Millionen US-Dollar
• Talent für maschinelles Lernen: 1,6 Millionen US-Dollar

Marketing und Kundenakquise

Die Marketingausgaben für 2023 beliefen sich auf insgesamt 17,3 Millionen US-Dollar, mit folgender Aufteilung:

Marketingkanal	Ausgeben (Mio. USD)
Digitale Werbung	7.6
Content-Marketing	3.9
Social-Media-Kampagnen	2.8
Partnermarketing	3.0

Rekrutierung und Bindung von Talenten

Die Personalkosten für 2023 beliefen sich auf 22,1 Millionen US-Dollar:

• Grundgehälter: 15,6 Millionen US-Dollar
• Leistungen und Vergütung: 4,5 Millionen US-Dollar
• Rekrutierungskosten: 2,0 Millionen US-Dollar

Versicherungsansprüche und Rückversicherungskosten

Die gesamten Schaden- und Rückversicherungskosten für 2023 erreichten 45,2 Millionen US-Dollar:

Anspruchskategorie	Kosten (Mio. USD)
Ansprüche aus der Sachversicherung	22.7
Rückversicherungsprämien	15.3
Schadensbearbeitung	7.2

Hippo Holdings Inc. (HIPO) – Geschäftsmodell: Einnahmequellen

Versicherungsprämien-Abonnements

Im vierten Quartal 2023 meldete Hippo Holdings gebuchte Bruttoprämien in Höhe von 79,3 Millionen US-Dollar. Die durchschnittliche jährliche Versicherungsprämie für die Hausratversicherung betrug 1.200 US-Dollar pro Police.

Versicherungsart	Bruttoprämien	Durchschnittliche jährliche Prämie
Hausbesitzerversicherung	79,3 Millionen US-Dollar	$1,200
Smart-Home-Versicherung	22,5 Millionen US-Dollar	$1,450

Technologielizenzgebühren

Hippo erzielte im Jahr 2023 Einnahmen aus Technologielizenzen in Höhe von 5,2 Millionen US-Dollar, was einer Steigerung von 12 % gegenüber dem Vorjahr entspricht.

Datenmonetarisierung

Das Unternehmen verdiente im Jahr 2023 etwa 3,7 Millionen US-Dollar mit Datenmonetarisierungsdiensten.

Mehrwert-Versicherungsdienstleistungen

• Smart-Home-Überwachungsdienste: 4,1 Millionen US-Dollar Umsatz
• Beratung zur Risikoprävention: 2,8 Millionen US-Dollar Umsatz
• Digitale Hausinspektionsdienste: 1,9 Millionen US-Dollar Umsatz

Provision von Partnernetzwerken

Die Provisionen des Partnernetzwerks beliefen sich im Jahr 2023 auf insgesamt 6,5 Millionen US-Dollar. Zu den wichtigsten Partnerschaften zählen:

Partner	Provisionseinnahmen
Immobilienplattformen	2,3 Millionen US-Dollar
Heimwerkernetzwerke	1,7 Millionen US-Dollar
Technologieintegratoren	2,5 Millionen Dollar

Hippo Holdings Inc. (HIPO) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Hippo Holdings Inc. as of late 2025. It's about moving from just paying for damage to actively preventing it, all through a digital lens.

Proactive home protection via smart home technology and monitoring

Hippo Holdings Inc. offers active home-care service through technology integration. They provide complimentary smart home devices, such as water leak sensors, when a homeowner purchases a policy. This focus on prevention directly impacts the bottom line; the consolidated Net Loss Ratio improved to 48% in Q3 2025, a 25 percentage point improvement year-over-year, which reflects this proactive stance. Statista estimates that 57% of U.S. households will own a smart device in 2025, making this integration timely.

The value here is tangible:

• Help safeguard the customer's most important financial asset.
• Integrate with smart home devices to monitor for issues like water leaks.
• Offer personalized maintenance checklists in the Hippo Home app.

Modern, simplified, and quick digital insurance experience

The entire experience is designed to be technology-native, streamlining the application and service process. This disciplined approach to underwriting and operations helped drive the company to a significant financial milestone in Q3 2025. The company reported a Net Income of $98 million for the quarter ended September 30, 2025, a substantial swing from the net loss in the prior year period. The company is operating as a unified, technology-native platform.

Tailored, lower-cost policies for new construction homes

Hippo Holdings Inc. specializes in insurance products designed specifically for new homes, simplifying the underwriting by focusing only on the house details. For new construction homeowners, this translates to significant savings compared to policies for existing homes. The potential premium reduction is substantial in key markets:

State	Premium Reduction Potential vs. Existing Home Policy
California	Up to 69% lower
Florida	Up to 42% lower
Texas	Up to 56% lower

New construction homeowners indicated that 92% would reinvest these insurance savings into home additions or enhancements.

Diversified product offering across personal and commercial lines

Hippo Holdings Inc. is actively diversifying its premium mix away from its original homeowners focus. This strategy is showing results in premium growth across other lines, which helps reduce volatility. The platform expanded to 36 programs by Q3 2025. Here's how the diversification looked in Q3 2025 Gross Written Premiums (GWP) compared to the prior year:

Line of Business	Q3 2025 GWP (Millions USD)	YoY Growth
Total GWP	$311 million	33%
Homeowners	$101.0 million	-9%
Commercial Multi-Peril (CMP)	$66 million	123%
Casualty	$76 million	137%

The total Gross Written Premium for Q3 2025 reached $311 million, with revenue growing 26% year-over-year to $121 million.

Improved underwriting profitability, Combined Ratio of 100% in Q3 2025

The focus on disciplined underwriting and portfolio optimization delivered a break-even underwriting position in the third quarter of 2025. The consolidated Combined Ratio for Q3 2025 was 100%, which is an improvement of 28 percentage points versus Q3 2024. This was supported by a Net Loss Ratio of 48%. The company's Book Value per share stood at $16.64 as of September 30, 2025, up 14% from year-end 2024. You're seeing a technology-enabled insurer that is now built to scale and adapt quickly.

Finance: draft 2026 expense ratio target by Friday.

Hippo Holdings Inc. (HIPO) - Canvas Business Model: Customer Relationships

You're looking at how Hippo Holdings Inc. interacts with the people and businesses that buy and partner with them, focusing on making that interaction modern and efficient. Honestly, the core of their relationship strategy is baked right into their technology stack.

Digital-first self-service via the Hippo Home app and website

Hippo Holdings Inc. appeals directly to tech-savvy homeowners who value convenience and a streamlined digital experience. The company's mission centers on delivering intuitive proactive protection, which requires a technology-native platform for customer interaction. This focus supports a better customer experience, which includes offering faster digital claims processing.

The shift in their business model emphasizes technology, which is a key part of how they manage customer relationships, even as they diversify away from being solely a monoline homeowners insurance carrier.

Automated, data-driven underwriting and policy management

The relationships are heavily influenced by the automated systems that price and manage policies. Hippo Holdings Inc. uses proprietary technology and data analytics to assess risk, which directly impacts the price and terms offered to the customer. This data-driven approach is showing concrete financial results in their underwriting performance as of late 2025.

Here's the quick math on how that disciplined underwriting is translating to better financial health in customer risk management:

Metric	Value (as of Q3 2025)	Comparison/Target
Consolidated Combined Ratio	100%	Improved by 28 percentage points year-over-year
Consolidated Net Loss Ratio	48%	Improved by 25 percentage points year-over-year
Hippo Homeowner's Insurance Program (HHIP) Net Loss Ratio	55%	Improved by 58 percentage points year-over-year (as of Q2 2025)
Long-Term Net Loss Ratio Target	60-65%	The Q3 2025 result is well below this target range

What this estimate hides is that the Q3 2025 Net Loss Ratio benefited from a lack of meaningful catastrophe losses compared to the prior year. Still, the underlying non-catastrophe loss ratio showed improvement from previous underwriting and rate actions earning through.

Dedicated B2B relationship teams for homebuilders and MGAs

Hippo Holdings Inc. maintains strong relationships with business partners, particularly in the new construction and Managing General Agent (MGA) spaces, often through its Spinnaker hybrid fronting platform. The company recently executed a strategic pivot, selling its existing homebuilder distribution network for $100 million to focus on core underwriting while deepening B2B ties.

The relationship with The Baldwin Group is key, as it is expected to triple Hippo's access to new construction homebuyers. The platform itself is scaling its MGA relationships:

• Expanded platform to 36 programs as of Q3 2025.
• Written premium outside of Hippo Homeowner's Insurance Program (HHIP) increased by 21% year-over-year (as of Q1 2025).
• Gross Written Premium (GWP) from homebuilder partners in the New Homes Channel increased by 35% year-over-year (as of Q1 2025).
• Casualty GWP share grew to 25% of total GWP (up from 14% the prior year as of Q3 2025).
• Commercial Multi-Peril GWP share grew to 21% of total GWP (up from 13% the prior year as of Q3 2025).

Proactive communication on home maintenance and risk mitigation

The relationship model is explicitly designed to move beyond reactive claims payment to proactive home protection. This is supported by tangible actions and communication strategies.

The company provides complimentary smart home devices, such as water leak sensors, to help customers prevent issues before they escalate into costly claims. This commitment to prevention is a core driver in achieving the improved underwriting results seen in 2025. Furthermore, the leadership team emphasized that they proactively supported customers affected by the Los Angeles wildfires during the first quarter of 2025. This demonstrates a commitment to the customer relationship during high-stress events.

Key indicators of this proactive relationship focus include:

• Focus on delivering a technology-driven customer experience.
• Use of smart home technology for early risk mitigation.
• Goal to be a proactive home protection partner, not just a claims payer.

Finance: draft 13-week cash view by Friday.

Hippo Holdings Inc. (HIPO) - Canvas Business Model: Channels

Direct-to-Consumer (D2C) digital platform and website

• Hippo Insurance Services acts as a licensed property casualty insurance agent.
• The Services segment, which includes the Consumer Agency, earns fees and commission income.
• Premium growth outside the Hippo Home Insurance Program (HHIP) was 21% in the first quarter of 2025.

Westwood Insurance Agency (homebuilder distribution network)

Following a strategic transaction in Q3 2025, Hippo now partners with Westwood Insurance Agency to access the homebuilder channel.

Metric	Value
Acquisition Price Paid by Westwood for Network	$100 million
Revenue from Homebuilder Distribution Network (TTM prior to sale)	Approximately $29.2 million
Expected Adjusted EBITDA from Network (12 months post-closing)	Approximately $7 million
Net Gain on Sale Recorded in Q3 2025	$91 million, net of technology write-off

Partner MGAs utilizing the Insurance-as-a-Service platform

The Insurance-as-a-Service (IaaS) segment, managed through Spinnaker Insurance Company, supports third-party Managing General Agents (MGAs).

• IaaS revenue surged 91% year-over-year to $39 million in the first quarter of 2025.
• The company expanded its platform to 36 programs as of the third quarter of 2025.
• This segment generates the majority of Hippo Holdings Inc.'s revenue.

Consumer Agency for multi-carrier comparison and sales

This function is part of the Services segment, which also includes First Connect.

Segment/Program	Q1 2025 Revenue	Year-over-Year Growth
Insurance-as-a-Service (IaaS)	$39 million	91%
Hippo Home Insurance Program (HHIP)	$62 million	12%

Overall financial context for late 2025:

• Trailing 12-month revenue ending September 30, 2025, was $450.10 million.
• Full-Year 2025 Revenue Guidance: Expected to be between $465 million to $475 million.
• Third Quarter 2025 Revenue: $121 million.

Hippo Holdings Inc. (HIPO) - Canvas Business Model: Customer Segments

You're looking at the core groups Hippo Holdings Inc. (HIPO) targets as it shifts toward a more disciplined, diversified, and profitable hybrid fronting platform model, as detailed in their 2025 strategy updates. The customer base is clearly segmented across direct-to-consumer tech adoption and significant B2B channel growth.

Tech-savvy homeowners seeking modern, convenient coverage remain a foundational segment, served primarily through the Hippo Home Insurance Program (HHIP). This group values the digital-first experience Hippo built its brand on. While the overall focus has diversified, the core homeowner business still shows traction; for the three months ended March 31, 2025, HHIP revenue grew by 12% year-over-year, supported by stronger premium retention. This segment is characterized by an expectation for streamlined digital transactions and proactive protection tools.

New home buyers, accessed through builder partnerships, represent a key growth vector, especially following strategic realignments. Hippo announced a major agreement in June 2025 with The Baldwin Group, which will effectively triple Hippo's market access to new construction homebuyers through Westwood Insurance Agency's network. As part of this, Hippo sold its existing homebuilder distribution network to Baldwin for $100 million, allowing Hippo to focus on product and risk management while leveraging the partner's distribution. This channel showed strong momentum earlier in the year, with the homebuilder channel driving a 35% year-over-year increase in gross written premium in Q1 2025. As of late 2024, the New Homes Program was expected to provide access to insurance for almost 50,000 additional new homes in California, Florida, and Texas by year-end.

Third-party Managed General Agents (MGAs) and program partners are central to Hippo's Insurance-as-a-Service (IaaS) segment, which is now the primary revenue driver. The Spinnaker platform supports these partners. The IaaS segment demonstrated explosive growth, with revenue increasing by 97% year-over-year for the three months ended June 30, 2025. This segment, which supports third-party MGAs, generated significant premium volume; in Q3 2024, Insurance-as-a-Service and other service lines accounted for 81% of total premiums generated.

Small to mid-size commercial customers (CMP and Casualty) are the newest explicitly called-out diversification targets, accessed via the hybrid fronting platform. Hippo launched two new commercial and casualty programs on this platform in Q2 2025. The growth in these lines is substantial: for the quarter ended September 30, 2025, Gross Written Premium (GWP) for the Casualty line was $76 million, up 137% year-over-year, and CMP GWP was $66 million, up 123% year-over-year. These lines are now a material part of the overall premium mix.

Here's a quick look at the premium contribution from the diversifying lines as of Q3 2025:

Customer Segment Focus Area	Relevant Financial Metric (Q3 2025 GWP)	Amount (USD)
Casualty (Commercial/MGA)	Gross Written Premium	$76 million
CMP (Commercial/MGA)	Gross Written Premium	$66 million
New Homes Program (Builder Channel)	Q1 2025 YoY GWP Growth	35%
Insurance-as-a-Service (MGA Support)	Q2 2025 YoY Revenue Growth	97%

The overall strategy shows a clear move away from being solely reliant on the direct homeowner channel. You can see this in the premium mix shift; in Q3 2025, Homeowners accounted for 32% of total GWP, down from 47% in the prior year quarter.

The key customer access points and their recent performance drivers include:

• Tech-savvy homeowners: HHIP revenue grew 12% YoY (Q1 2025).
• New home buyers: Builder channel GWP grew 35% YoY (Q1 2025).
• Partner MGAs: IaaS revenue grew 97% YoY (Q2 2025).
• Commercial/Casualty: Casualty GWP up 137% YoY (Q3 2025).

If onboarding new builder partners takes longer than expected, the projected growth from the new construction market could slow down. Finance: draft 13-week cash view by Friday.

Hippo Holdings Inc. (HIPO) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Hippo Holdings Inc. business as of late 2025, focusing on what it takes to write and service the policies. The structure shows a clear push for underwriting discipline alongside ongoing investment in the technology backbone.

Losses and Loss Adjustment Expenses (LAE), Net Loss Ratio

The core cost of insurance is claims, reflected in the loss ratio. Hippo Holdings Inc. reported a significant improvement in underwriting performance through the third quarter of 2025. The consolidated Net Loss Ratio for Q3 2025 stood at 48%. This was a substantial improvement, moving the company closer to its long-term profitability goals, though the full-year 2025 guidance for the consolidated net loss ratio was set in the range of 63% to 64%.

• Net Loss Ratio (Q3 2025): 48%
• Full Year 2025 Net Loss Ratio Guidance: 63% to 64%
• Combined Ratio (Q3 2025): Reached 100%, an improvement of 28 percentage points year-over-year.

Technology and platform development expenses (R&D)

Technology and Development (T&D) costs are bundled into the fixed operating expenses that Hippo Holdings Inc. has been actively managing down. This investment is crucial for maintaining the technology-native approach to underwriting and operations. While specific T&D figures for Q3 2025 aren't isolated in the latest reports, the trend shows efficiency gains.

Reinsurance premiums for risk transfer and capital protection

To manage the volatility inherent in property and casualty insurance, Hippo Holdings Inc. relies heavily on reinsurance. This is a major cost component for risk transfer. Reinsurance premiums payable as of Q3 2025 were reported at 332.1. Furthermore, capital protection and growth support came through financing activities, such as the issuance of a surplus note. For instance, a $50 million surplus note was secured in Q1 2025 to support platform growth.

Sales and marketing costs for customer acquisition

Costs associated with acquiring new premium volume, including sales and marketing (S&M), are being controlled as the company prioritizes profitable growth and diversification away from a heavy homeowners concentration. The Q3 2025 Sales and marketing expense was 8.0. This is part of the overall fixed expense base that management is targeting for leverage.

General and administrative expenses (fixed costs declining)

General and Administrative (G&A) expenses represent the overhead of running the business. The focus here has been on achieving operating leverage. For Q3 2025, the General and administrative expense was 16.5. The trend of declining fixed costs is evident when looking at the combined S&M, T&D, and G&A expenses:

Period	Combined Fixed Expense Change (S&M, T&D, G&A)
Q1 2025 vs. Prior Year	Declined by $7 million
Q2 2025 vs. Prior Year	Declined by $6 million

This combined group of fixed expenses fell from 48% of revenue in Q2 2024 to 30% of revenue in Q2 2025, showing defintely improving scalability.

Here's a quick look at the key Q3 2025 reported expense line items (units not explicitly stated but context suggests millions):

Cost Component	Q3 2025 Amount
Sales and marketing	8.0
General and administrative	16.5
Reinsurance premiums payable	332.1

Finance: draft 13-week cash view by Friday.

Hippo Holdings Inc. (HIPO) - Canvas Business Model: Revenue Streams

You're looking at how Hippo Holdings Inc. (HIPO) actually brings in the money as of late 2025, which is key to understanding their path to profitability. The model clearly shows a shift toward platform-based and diversified income rather than relying solely on one product line. Honestly, the numbers from the third quarter really highlight this pivot.

Here's a quick look at some of the most recent, hard financial figures driving the revenue side of the canvas:

Metric	Value	Period
Full-Year 2025 Revenue Guidance	$465 million to $468 million	FY 2025 (Projected)
Gross Written Premium (GWP)	$311 million	Q3 2025
GWP Year-over-Year Growth	33%	Q3 2025
Total Revenue	$120.6 million	Q3 2025
Net Earned Premium (Total)	$99.7 million	Q3 2025

The core of the business still involves the direct insurance product, but the growth engine is clearly elsewhere. You see the Net Earned Premium from the Hippo Home Insurance Program (HHIP) as a foundational element. While Q3 2025 Net Earned Premium reached $99.7 million, remember that the growth rate for this specific segment has been more moderate lately compared to the others. For instance, in Q1 2025, HHIP revenue grew 12% year-over-year, and in Q2 2025, that program grew by 8%, moving from $56.2 million to $60.6 million.

The real acceleration comes from the Insurance-as-a-Service (IaaS) fees, which utilize the Spinnaker fronting platform. This is where Hippo is scaling its technology and underwriting capabilities for partners. The momentum here is significant; in Q1 2025, IaaS segment revenue saw a massive 91% increase, and by Q2 2025, that revenue nearly doubled, jumping 97% from $24.4 million to $48 million. This diversification is what management is counting on to drive scale.

Also feeding into the revenue streams are the Services segment fees and commissions from agency activities. This stream has seen some structural changes following recent divestitures. You should note that in Q3 2025, there was a $5 million reduction in commissions, which they attribute to the sales of First Connect in Q4 2024 and the homebuilder distribution network in Q3 2025. Still, the overall strategy is to generate revenue from multiple sources:

• Net Earned Premium from the Hippo Home Insurance Program.
• Insurance-as-a-Service (IaaS) fees from the Spinnaker fronting platform.
• Fees and commissions from the Services segment, post-restructuring.

Looking ahead, the company is confident enough in this diversified model to raise its expectations. Management guided the full-year 2025 revenue to land between $465 million and $468 million. This projection is supported by the Q3 2025 results, where Gross Written Premium (GWP) hit $311 million, marking a strong 33% increase year-over-year, showing that the underlying premium volume is definitely moving in the right direction.