AI-insurtech Honeycomb Insurance has teamed up with Trisura Insurance Company to expand admitted capacity in 18 U.S. states.
The agreement positions Honeycomb for broader market reach while maintaining its rapid growth trajectory.
Honeycomb launched in 2019 under the leadership of Itai Ben‑Zaken (CEO) and Nimrod Sadot (CTO). Its platform leans on advanced computer vision and AI to underwrite at the level of individual buildings, thanks to aerial imagery and smart risk analysis.
In the past year, the company more than doubled sales and kept loss ratios far below industry norms. Its property and casualty products target landlords and condominium associations, with pricing and coverage tailored through AI and machine learning.
Adding Trisura as a carrier partner gives Honeycomb the bandwidth to serve more customers at scale.
Our work with Trisura reflects strong market confidence in our approach and long-term direction. The additional capacity strengthens our footing as we move into new markets.
Honeycomb CEO and co-founder Itai Ben Zaken
Michael Beasley, president and CEO of Trisura, noted that Honeycomb’s underwriting discipline and clear path to profitability made the decision straightforward. “We’re backing a team that is pushing the market forward with practical innovation,” he said.
Honeycomb’s platform applies computer vision to evaluate property risk without on-site inspections, accelerating the insurance process and lowering access barriers.
The company now operates in 18 states, insures over $55bn in assets, and covers more than 60% of the U.S. population.
The company’s growth trajectory got a major boost with a Series B round in May 2024. Zeev Ventures led the $36 mn investment, joined by Arkin Holdings, Launchbay Capital, and returning investors Ibex Investors, Phoenix Insurance, and IT‑Farm. That brought Honeycomb’s cumulative funding to about $55 mn.
Honeycomb put its funding to use doubling its staff—from 90 to 180 in 18 months—expanding product offerings, and extending its footprint across sixteen U.S. states. At the time, it insured over $21 bn in real‑estate assets, with ambitions to triple that volume within a year.
By mid‑2025, the company had opened a new headquarters in Chicago. It also rolled out “Honeycomb Specialty,” its non‑admitted insurance programme, scaling coverage limits to $25 m per policy and extending availability across all 18 states where it operates. This boosted its ability to serve hard‑to‑insure properties and streamline risk transitions from non‑admitted to admitted coverage.
