Honeycomb

Honeycomb Insurance aims to remedy these real estate coverage issues using AI and computer vision to quantify insurance claim costs. It analyses aerial photographs of building roofs and street-level shots to analyse quality and risk, thus removing the need for expensive physical inspections. This means the company can accurately underwrite risks in a fraction of the time, and deliver a better service to more consumers.

The value of this offering is showcased by Honeycomb's expansion to operate across 16 states. It now covers around 60% of the US market and has over $20 billion in assets under its belt. A substantial Series B round in 2024 will help it grow into new insurance markets and accelerate its AI-powered tech, as it aims to triple this asset value by 2025.