Honeycomb Insurance Expands to Oregon: Innovative Coverage for Property Owners

Honeycomb Insurance, a digital managing general agent (MGA) specializing in property and casualty coverage for landlords and condominium associations, has expanded its operations to Oregon. This strategic move marks the company's entry into its 21st active state, further strengthening its national presence in markets with constrained coverage options.

The Oregon insurance market faces significant challenges due to retreating insurers and stringent underwriting standards for condominium buildings, apartment complexes, and single-family rentals (SFRs). These limitations have placed substantial pressure on property owners, particularly those managing older buildings with outdated infrastructures along the Portland-Eugene I-5 corridor.

Innovative Underwriting Solutions

Honeycomb provides an AI-driven alternative for agents and property owners in Oregon. By offering a streamlined process for quoting and individualized underwriting at the property level, Honeycomb enables agents to secure stable insurance where traditional carrier restrictions hinder coverage.

Oregon agents benefit from Honeycomb's fast quoting processes, allowing them to submit complete schedules or portfolios with just an address for initial eligibility feedback. This not only enhances efficiency but also ensures that agents focus on submissions likely to yield competitive quotes, benefiting the broader insurance industry.

Itai Ben-Zaken, Co-Founder and CEO, stated, "Our platform allows us to underwrite each property individually with ease, speed, and precision, even in complex environments with older buildings." Honeycomb continues to maintain underwriting discipline, focusing on minimizing average annual premium increases while expanding across the states.

With operations in the U.S. and Israel and headquartered in Chicago, Honeycomb leverages advanced technology to offer tailored underwriting and competitive pricing. This is particularly advantageous for properties typically overlooked by traditional insurers, as their products include both admitted and non-admitted insurance offerings.