Expansion to Minnesota will be followed by Colorado, Oregon, Kansas, and Missouri, bringing Honeycomb's competitive real estate insurance solutions to 23 states
CHICAGO, ILLINOIS / ACCESS Newswire / August 21, 2025 / Honeycomb Insurance, the AI-powered digital insurer specializing in tailored property and casualty coverage for landlords and condominium associations, announced today that it has begun writing policies in Minnesota, with plans to expand into four additional states over the upcoming months.
The move comes during a period of exceptional momentum for the company. In 2024, Honeycomb more than doubled its sales as it maintained a loss ratio significantly below the industry average. This performance reflects Honeycomb's selective, data-driven underwriting approach, which uses proprietary computer vision and AI to assess each property with precision, enabling competitive coverage for well-maintained buildings that many traditional carriers overlook.
Minnesota is the first stop in Honeycomb's expansion journey, and it represents one of the more challenging insurance markets in the country. Over the past few years, many admitted carriers have exited the state, leaving customers with minimal insurance options for condos, apartments, and single-family rentals, underscoring the urgent need for new, stable solutions.
To meet that need, Honeycomb will immediately make available its newly announced $25 million capacity limits across both admitted and non-admitted programs in Minnesota. By expanding and aligning these offerings, the company provides brokers with a unified platform to manage diverse portfolios more easily. This streamlined capacity delivers a consistent, reliable solution for landlords and associations seeking long-term stability.
"Expanding into Minnesota is another clear sign that our growth strategy works, and works consistently," said Itai Ben-Zaken, Co-Founder and CEO of Honeycomb Insurance. "In the past year alone, we've entered new states, broadened our capabilities, and delivered strong, reliable underwriting performance. That track record gives our brokers and policyholders the confidence that we can deliver stability and scale wherever we operate."
To support its nationwide growth, Honeycomb also opened a new headquarters in Chicago this summer, expanding operational capacity and positioning the company to continue its rapid expansion in the year ahead.
About Honeycomb Insurance
Honeycomb Insurance is a deep-tech property and casualty digital insurer specializing in providing tailored coverage for landlords and condominium associations. Using advanced computer vision and AI developed by insurance industry experts, Honeycomb delivers competitive pricing and customized policies for a diverse range of properties, all while maintaining an industry-leading loss ratio. Headquartered in Chicago, Illinois, Honeycomb operates across 19 major states, including its newest state, Minnesota, and manages insured assets exceeding $55 billion.
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Mia Balaban, Tell NY
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SOURCE: Honeycomb Insurance
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/honeycomb-insurance-launches-in-minnesota-the-first-of-five-new-stat-1063641
