The home insurance industry is massively valuable, with estimations around $90 billion for the industry as a whole, but Hippo home insurance is trying to disrupt that elephant through the use of big data. The company's sleekly designed, user-friendly website is a clear departure from the typical insurance site, and it has the function to back up the look: Hippo home insurance promises that it can let users get a quote and purchase insurance in just 90 seconds.
Hippo manages this impressively quick feat by mining data it collects from as many sources as possible. It reaches through city records, construction data, and even satellite imagery to answer questions about homes. After entering one's home address on the site, Hippo quickly pre-fills a form with information like square footage, the age of the roof, the roof material, the house's frame and foundation, when it was built, and more. Users can then purchase insurance directly through the site -- no in-person meeting necessary.
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