Hippo Holdings Inc. announced the expansion of its fastest-growing channel with the launch of the Hippo Builder Insurance Agency. The new agency leverages Hippo's proprietary technology to allow builders of any size to partner with HBIA and generate a predictable revenue stream. Builder participation by sending leads to HBIA does not require significant allocation of resources or any investment, and eliminates the cost and risk often associated with insurance agency operations.

HBIA pays for each lead regardless of whether the homeowner closes on the property or purchases a policy through HBIA. Hippo's technology stack can ingest each home's specific details directly from a builder partner via an API or simple file. By accessing this exclusive builder data, HBIA can accurately quote an entire development before addresses are assigned, or a customer is attached to a particular property.

HBIA reviews offerings from the multiple HO5 carriers it represents to ensure each customer gets the right policy, and quotes are tailored to each home's specific details. The insurance information is then shared electronically with the builder's mortgage and title partners to help avoid closing delays and remove some of the friction consumers can experience in the home-buying process. Since launching in 2019, nearly 100,000 new construction customers have taken advantage of Hippo's fully digital insurance purchase experience.

In 2022, 75% of Hippo partner, Lennar's, new homes sold were insured by Hippo.