Honeycomb Expands to Washington and Maryland, Insures Over $35 Billion in Assets

Honeycomb Insurance has expanded its operations to Washington state and Maryland, increasing its presence to 18 states. The company now insures assets valued at over $35 billion, reaching more than 60% of the U.S. population. Honeycomb's offerings include insurance for landlords and condo associations in states such as Arizona, California, and Ohio.

In addition to geographic expansion, Honeycomb launched an E&S program to broaden eligibility for clients. Partnering with Builders, this initiative addresses risks beyond the typical coverage scope while maintaining efficiency and innovation.

Established in 2021, Honeycomb leverages AI and computer vision to enhance the insurance process. This approach simplifies quoting and provides cost savings. The company expects to exceed $100 million in insurance premiums this year, following substantial funding led by Zeev Ventures.

CEO Itai Ben-Zaken highlighted the challenges faced by the U.S. insurance market, noting Honeycomb's commitment to offering affordable coverage through advanced technology.