Itai Ben Zaken, Co-Founder and CEO at Honeycomb Insurance
Honeycomb Insurance, a deep-tech digital insurer specializing in tailored property and casualty coverage for landlords and condominium associations, has announced a partnership with Trisura Insurance Company, a leading insurance provider. This collaboration enhances Honeycomb’s admitted capacity and underscores its position as a stable, growth-focused insurer with strong underwriting performance.
The addition of Trisura diversifies Honeycomb’s carrier partnerships while reinforcing the company’s commitment to providing scalable, AI-powered coverage solutions across the U.S. Advanced AI and machine learning capabilities enable Honeycomb to offer the most competitive coverages and pricing in the industry to well-maintained properties. Honeycomb more than doubled its sales in 2024 while maintaining a loss ratio that’s significantly lower than the industry average, thanks to its precise risk selection. Through this alliance, Honeycomb continues to deliver competitive pricing, customized policies, and market-leading loss ratios.
“Trisura is a highly credible and trusted partner whose support reflects the market’s confidence in Honeycomb’s model and long-term strategy,” said Itai Ben Zaken, Co-Founder and CEO at Honeycomb Insurance. “This partnership boosts our admitted capacity and strengthens our foundation as we continue to expand into new states and serve more policyholders.”
“Honeycomb has strong underwriting discipline and a clear vision for long-term growth and profitability,” said Michael Beasley, President & CEO of Trisura. “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 advanced computer vision and AI to evaluate each building independently, enabling precise risk assessment at scale. Built by insurance experts, the platform allows Honeycomb to insure properties that traditional carriers often avoid, not because of higher risk, but because they lack the tools to accurately underwrite them. By eliminating physical inspections and lengthy approval processes, Honeycomb makes coverage faster, more efficient, and easier to access.
About Honeycomb Insurance
Honeycomb Insurance is a deep-tech property and casualty digital insurer specializing in providing tailored coverage for landlords and condominium associations. Using advanced computer vision and AI developed by insurance industry experts, Honeycomb has developed a best-in-class underwriting engine that delivers competitive pricing and customized policies for a diverse range of properties often overlooked by traditional carriers, all while maintaining an industry-leading loss ratio. Its intuitive, streamlined platform eliminates the need for lengthy approval processes and physical property inspections, making the insurance process faster and more efficient.
Headquartered in Chicago, Illinois, with additional offices in the United States and Israel, Honeycomb operates across 18 major states, covering over 60% of the U.S. population, and manages insured assets exceeding $55 billion.
About Trisura Group
Trisura Group Ltd. is a specialty insurance provider operating in the Surety, Warranty, Corporate Insurance, Program and Fronting business lines of the market. Trisura has investments in wholly owned subsidiaries through which it conducts insurance operations. Those operations are primarily in Canada and the United States. Trisura Group Ltd. is listed on the Toronto Stock Exchange under the symbol “TSU”.
Further information is available at https://www.trisura.com. Important information may be disseminated exclusively via the website; investors should consult the site to access this information. Details regarding the operations of Trisura Group Ltd. are also set forth in regulatory filings. A copy of the filings may be obtained on Trisura Group’s SEDAR+ profile at www.sedarplus.ca.
