Curated News
By: NewsRamp Editorial Staff
July 08, 2025
Honeycomb Insurance Expands with New Chicago HQ Amid Record Growth
TLDR
- Honeycomb Insurance's expansion into a new Chicago headquarters and its use of AI for property insurance underwriting offers landlords and property owners a competitive edge in risk management.
- Honeycomb Insurance employs AI and proprietary computer vision to streamline property insurance underwriting, enabling real-time, accurate risk assessment without replacing traditional brokers.
- By modernizing property insurance with technology, Honeycomb Insurance makes insurance more accessible and efficient, contributing to a safer and more secure real estate market.
- Honeycomb Insurance's new Chicago HQ marks a milestone in insurtech, blending AI with traditional insurance to cover over $55 billion in assets innovatively.
Impact - Why it Matters
This development signifies Honeycomb Insurance's commitment to innovation and growth in the insurtech space, offering a more efficient and tailored approach to property insurance. For property owners and managers, this means access to faster, more accurate insurance solutions that cater to their specific needs, potentially lowering costs and improving coverage options. The expansion also highlights Chicago's role as a hub for tech and insurance innovation, creating jobs and fostering economic growth in the region.
Summary
Honeycomb Insurance, a rapidly growing insurtech firm, has unveiled its new 15,000-square-foot headquarters in Chicago, marking a significant milestone in its expansion. This move comes after a year of unprecedented growth, driven by its innovative use of AI and proprietary computer vision to revolutionize property insurance for the residential real estate sector. With backing from Zeev Ventures, Honeycomb has emerged as a preferred solution for landlords, condo associations, and multifamily property owners, offering real-time, accurate risk underwriting across 18 states. The company has insured over $55 billion in assets and seen its revenue more than double year over year.
The new headquarters, located in the Chicago Board of Trade building, is designed to accommodate the company's growing team, with plans to hire approximately 50 new employees. Itai Ben-Zaken, CEO and co-founder of Honeycomb, highlights Chicago's talent pool as a key factor in the company's decision to expand its presence in the city. Honeycomb's platform stands out for its ability to provide tailored coverage quickly and efficiently, eliminating the need for traditional, time-consuming approval processes and physical inspections.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Honeycomb Insurance Expands with New Chicago HQ Amid Record Growth
