Honeycomb Insurance
AI-powered real estate insurance reinvented for landlords and condo associations.
Overview
Honeycomb Insurance is a deep-tech digital Managing General Agent (MGA) that specializes in tailored property and casualty coverage for residential landlords and condominium associations across the United States. Founded in 2019, the company leverages proprietary AI, computer vision, and aerial imagery to automate and streamline the traditionally arduous commercial real estate underwriting process, delivering competitive pricing and customized policies in minutes rather than weeks.
The company operates across 20 major U.S. states, covering over 60% of the U.S. population, and manages insured assets exceeding $55 billion. Honeycomb has experienced rapid growth of 200-300% year over year, more than doubling its sales in 2024 while maintaining a loss ratio significantly below the industry average. Headquartered in Chicago with additional offices in Tel Aviv, Israel, Honeycomb employs approximately 166 people across three continents.
Honeycomb initially launched in 2019 as a digital agency selling existing policies from incumbent insurers. After gathering market feedback, the company pivoted to become a full MGA, developing its own end-to-end platform encompassing policy management, risk modeling, and automated underwriting. The platform uses proprietary user-generated data combined with advanced AI and computer vision to assess property risk without requiring physical inspections.
Products & Services
Honeycomb Admitted Program
Core commercial habitational insurance program for landlords and condo associations, backed by SiriusPoint and Trisura as capacity providers.
Key Features
- Building property protection
- General liability ($1M/$2M and $2M/$4M limits)
- Wind and hail coverage
- Water damage and sump overflow protection
- Ordinance or Law coverage (enhanced A/B/C)
- Equipment breakdown
- Employee dishonesty and computer fraud
- Certified terrorism coverage
Target Users: Landlords, condo associations (HOAs/COAs), apartment building owners, property managers
Distribution: Retail agents via self-serve digital platform
Honeycomb Specialty (E&S Program)
Non-admitted insurance program launched as "E&S Lite" in late 2024, expanded to all 18+ operating states in 2025 with increased limits. Backed by Specialty Builders Insurance (Atlanta).
Key Features
- Property and liability coverage for habitational risks
- Per-policy insured property limits up to $25M (increased from $10M in 2025)
- Properties can migrate from non-admitted to admitted program when criteria improve
Target Users: Property owners who do not qualify for the admitted program due to non-standard electrical panels, below-average roof conditions, or short coverage lapses
Distribution: Same digital platform as admitted program; agents can submit, bind, and manage admitted and non-admitted properties in a single flow
Neptune Flood Integration
Partnership with Neptune Flood (largest U.S. private flood insurer) launched October 2025, enabling agents to generate bindable flood quotes directly within the Honeycomb platform.
Key Features
- Private flood insurance
- Single-submission workflow for both habitational and flood coverage
- Scalable foundation for additional coverages (wind, earthquake)
Target Users: Property owners in flood-prone areas, particularly New Jersey and other high-risk states
Distribution: Integrated into Honeycomb agent platform