Insurtech Hippo Holdings Inc. is laying off about 20% of its workforce, roughly 120 employees, at the start of an “organizational realignment,” according to a U.S. Securities and Exchange Commission filing.
Tag: insurtech layoffs
Another Round of Insurtech Layoffs: Hippo Reduces Workforce by 10%
Hippo, an Israeli-founded insurtech company, has announced the layoff of 70 employees, accounting for approximately 10% of the company’s workforce. The decision was made “to further drive efficiency and increase focus on strategic priorities,” according to the company. The layoffs are effective immediately, and the company says it “expects the majority of the affected employees… Continue reading Another Round of Insurtech Layoffs: Hippo Reduces Workforce by 10%
GlobalData Says Insurtech Investment Fell by 80% in 2021
Insurtech investments fell by 79.6% in 2021, leading to job losses and tough economic conditions in 2022, according to GlobalData. This is the latest in a series of stories about insurtechs struggling in 2022. Lemonade, for example, recently reduced Metromile’s workforce by 20% after completing the acquisition of the insurtech in August 2022, despite previously… Continue reading GlobalData Says Insurtech Investment Fell by 80% in 2021
Insurtech Trend? Next Insurance, Thimble Announce Layoffs
Israeli insurtech Next Insurance is laying off 150 employees, which make up some 17% of the company’s workforce. Most of those being laid off are based in the U.S., but it is believed that around 40 of the employees leaving the company are headquartered in Israel. “It was a very difficult decision, but we are… Continue reading Insurtech Trend? Next Insurance, Thimble Announce Layoffs