Insurtech Startup Hippo Opens Innovation Center In Israel

Israeli-founded home insurtech startup Hippo announced last week the expansion of its technology, product, and marketing operations by opening its first international office in Tel Aviv.

The new innovation center will focus 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 company said in a statement.

The office will be led by Shahaf Shakuf, who previously established the Israeli 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.

“Hippo has become a leading example of an industry-defining company with its unique, customer-first approach to homeownership,” said Shakuf,“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.”

Founded in 2015 by Israelis Assaf Wand and Eyal Navon, Hippo offers homeowner’s insurance that covers the homes and possessions of the insurance holder as well as liability from accidents happening in the insured property. The startup uses AI and big data to aggregate and analyze property information

Hippo has expanded its insurance products to reach more than 80 percent of U.S. homeowners in 37 states. he company recently launched two new innovative products to market, Inspection Protection and Commercial Lines Insurance, with additional home protection offerings to come.

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.

“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 office at 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.”