Hippo Opens Innovation & Growth Center in Israel

Rhea-AI Summary

Hippo, a leading home insurance group, has announced the opening of its first international office in Tel Aviv, Israel. This expansion aims to enhance its technology, product, and marketing operations. Led by Shahaf Shakuf, the new office will focus on innovation, product development, and digital marketing, supporting Hippo's mission to transform the U.S. home insurance industry. With a customer-first approach, Hippo has extended its insurance products to over 80% of U.S. homeowners across 37 states and recently launched new products such as Inspection Protection and Commercial Lines Insurance.

Positive

• Opening international office in Tel Aviv to drive innovation.
• Leadership under Shahaf Shakuf with experience from Chegg.
• Expanding to over 80% of U.S. homeowners in 37 states.
• Recent launch of Inspection Protection and Commercial Lines Insurance.

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• None.

The home insurance group, which is transforming homeowners insurance, will fuel growth through its global team

PALO ALTO, Calif.--(BUSINESS WIRE)-- Hippo, the home insurance group that created a new standard of care and protection for homeowners, today announced the expansion of its technology, product and marketing operations by opening its first international office in Tel Aviv, Israel, a global technology hub. The new office will be a center for innovation for the company, focused on the development of talent and technologies to fuel the products and services across Hippo’s business, delivering a transformative home insurance experience to its customers.

The office will be led by Shahaf Shakuf, who brings strong management experience to Hippo and previously established the Israel subsidiary for Chegg, the online learning company with over 4.8 million subscribers. Shakuf will oversee the growth of Hippo’s regional team and the entire spectrum of office functions, from product development and design to data science and digital marketing, ensuring engagement and alignment across the organization.

“Hippo has become a leading example of an industry-defining company with its unique, customer-first approach to homeownership,” said Shakuf, General Manager, Hippo. “Hippo’s mission to transform the U.S. home insurance industry will be supported by a talented team in Israel, which has quickly become a global hub for innovation. I’m thrilled to work alongside a growing team of leaders who are passionate about the innovative products and services behind Hippo and being a part of building the next home insurance franchise.”

Hippo’s Israel-based team will focus on fueling the growth and innovation behind the home protection company with leadership that spans product developers and designers, engineers, machine learning experts, data scientists, and digital marketers. Hiring is ongoing and Hippo is seeking innovative, creative, ambitious problem-solvers with a curious, global mindset.

“We have been scouting Israel’s technology scene with interest and enthusiasm and consider it an ideal location for our first international office,” said Ran Harpaz, Chief Technology Officer, Hippo. “We are pleased to have the opportunity to put roots down in Israel and welcome Mr. Shakuf, a deeply experienced technical and business leader, during this crucial time in our growth. We look forward to bringing a widely diverse set of innovative minds together as we build and grow some of the most critical functions of Hippo’s business to support our customers.”

Hippo offers a customer-first approach to homeownership with intuitive and proactive protection that combines the power of technology with a human touch. In just over four years, Hippo has expanded its insurance products to reach more than 80 percent of U.S. homeowners in 37 states. The company recently launched two new innovative products to market, Inspection Protection and Commercial Lines Insurance, with additional home protection offerings to come.

About Hippo

Hippo’s goal is to make homes safer and better protected so customers spend less time worrying about the burdens of homeownership and more time enjoying their homes and the life within. Harnessing real-time data, smart home technology, and a growing suite of home services, we are creating the first integrated home protection platform. Hippo is headquartered in Palo Alto, California with offices in Austin and Dallas, Texas and insurance products available to more than 80 percent of U.S. homeowners in 37 states. Hippo Insurance Services is a licensed property casualty insurance agent with commercial and personal lines products underwritten by various insurance companies. For more information, including licensing information, visit http://www.hippo.com.

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “expect,” “possible,” “will,” or the negative of such terms or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

These forward-looking statements are subject to known and unknown risks, uncertainties, and assumptions about us that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed or implied by such forward-looking statements.

These and other important factors are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Registration Statement on Form S-4 and Current Report on Form 8-K, each filed with the Securities and Exchange Commission (the “SEC”) and in our other filings with the SEC. While we may elect to update or revise such forward-looking statements at some point in the future, we disclaim any obligation to do so.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210826005251/en/

Andrea Collins / Courtney Klosterman

press@hippo.com

Source: Hippo

FAQ

What is the significance of Hippo's new office in Tel Aviv, Israel?

Hippo's new office in Tel Aviv will focus on innovation and product development, supporting its mission to transform the home insurance industry.

Who is leading the new office in Tel Aviv for Hippo?

Shahaf Shakuf is leading the Tel Aviv office, bringing strong management experience from his previous role at Chegg.

How much of the U.S. market does Hippo cover with its insurance products?

Hippo covers over 80% of U.S. homeowners across 37 states.

What recent products has Hippo launched?

Hippo recently launched Inspection Protection and Commercial Lines Insurance.

How does Hippo plan to support its growth through the new office?

The Tel Aviv office will focus on developing talent and technologies to enhance Hippo's product offerings and services.