Honeycomb Insurance Opens New Chicago HQ to Expand AI-Driven Property Insurance

Honeycomb Insurance, a rapidly expanding U.S. insurtech firm, has opened a new 15,000-square-foot headquarters in Chicago, marking a strategic move following significant growth. The company utilizes AI and proprietary computer vision technology to modernize property insurance for residential real estate, focusing on landlords, condo associations, and multifamily property owners across 18 states. Its underwriting platform offers real-time, accurate risk assessment while complementing broker roles rather than replacing them. Honeycomb has insured over $55 billion in assets and achieved more than double its revenue year over year. The new Chicago office is designed to support substantial workforce growth, with plans to add around 50 employees to sustain its expansion trajectory. Honeycomb’s technology-driven approach streamlines underwriting, eliminating traditional lengthy approval processes and physical inspections, which enhances efficiency and market responsiveness in the property and casualty insurance domain.