Honeycomb Insurance has formed a new partnership with Trisura Insurance Company in a strategic move to increase its admitted capacity across the United States.
The digital insurer, which focuses on property and casualty coverage for landlords and condominium associations, more than doubled its sales in 2024. This growth was achieved while maintaining a loss ratio well below the industry average, thanks in part to its use of advanced AI and machine learning technologies. These capabilities are central to Honeycomb’s platform, allowing the company to deliver competitively priced and highly tailored policies at scale.
Honeycomb Insurance CEO and co-founder Itai Ben Zaken said, “Trisura is a highly credible and trusted partner whose support reflects the market’s confidence in Honeycomb’s model and long-term strategy. This partnership boosts our admitted capacity and strengthens our foundation as we continue to expand into new states and serve more policyholders.”
Trisura president and CEO Michael Beasley said, “Honeycomb has strong underwriting discipline and a clear vision for long-term growth and profitability. We’re proud to support continued expansion by providing admitted capacity and partnering with a team that shares our commitment to innovation and stability in the market.”
Honeycomb’s proprietary underwriting engine uses computer vision and AI to evaluate properties on a case-by-case basis, a method that allows the company to underwrite buildings often overlooked by traditional insurers. This technology removes the need for in-person inspections and streamlines the approval process, offering policyholders faster and more accessible coverage.
Based in Chicago, Honeycomb now operates across 18 states, serving over 60% of the US population. The company manages more than $55bn in insured assets and continues to invest in technology and partnerships that support long-term growth in underserved markets.
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