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Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information for the period ended December 31, 2022 has been revised to conform with the current year presentation.

			Year Ended December 31, 2023
			Services						Insurance-as-a-Service						Hippo Home Insurance Program						Intersegment Eliminations(1)						Total
Revenue:
Net earned premium			$	—					$	42.9					$	64.6					$	—					$	107.5
Commission income, net			43.7						19.8						7.3						(7.4)						63.4
Service and fee income			0.5						0.3						14.9						—						15.7
Net investment income			0.1						7.7						15.3						—						23.1
Total Revenue			44.3						70.7						102.1						(7.4)						209.7
Adjusted Operating Expenses:
Loss and loss adjustment expense			—						15.6						165.0						—						180.6
Insurance related expense			—						22.8						37.9						(2.9)						57.8
Sales and marketing			42.5						—						16.9						(3.5)						55.9
Technology and development			16.6						0.5						17.2						—						34.3
General and administrative			11.9						5.8						30.0						—						47.7
Other expenses			0.7						—						0.1						—						0.8
Total adjusted operating expenses			71.7						44.7						267.1						(6.4)						377.1
Less: Net investment income			(0.1)						(7.7)						(15.3)						—						(23.1)
Less: Noncontrolling interest			(10.1)						—						—						—						(10.1)
Adjusted operating income (loss)			(37.6)						18.3						(180.3)						(1.0)						(200.6)
Net investment income																											23.1
Depreciation and amortization																											(19.8)
Stock-based compensation																											(57.5)
Fair value adjustments																											1.5
Contingent consideration charge																											(6.0)
Other one-off transactions																											(7.8)
Income tax expense																											(0.5)
Restructuring charges																											(2.6)
Impairment charges																											(2.9)
Net loss attributable to Hippo																											$	(273.1)
Income tax expense																											0.5
Noncontrolling interest																											10.1
Loss before income taxes																											$	(262.5)

(1)Intersegment eliminations include commissions paid from Hippo Home Insurance Program for policies sold by the Company’s Services segment (revenue, cost, and other adjustments in respective business units eliminated as part of consolidation).

			Year Ended December 31, 2022
			Services						Insurance-as-a-Service						Hippo Home Insurance Program						Intersegment Eliminations(1)						Total
Revenue:
Net earned premium			$	—					$	22.5					$	20.0					$	—					$	42.5
Commission income, net			36.0						11.4						25.0						(18.1)						54.3
Service and fee income			0.9						—						13.0						—						13.9
Net investment income			—						3.1						5.9						—						9.0
Total Revenue			36.9						37.0						63.9						(18.1)						119.7
Adjusted Operating Expenses:
Loss and loss adjustment expense			—						13.4						85.4						—						98.8
Insurance related expense			—						10.5						53.1						(18.1)						45.5
Sales and marketing			61.8						0.2						18.1						—						80.1
Technology and development			6.8						—						29.7						—						36.5
General and administrative			9.7						4.4						34.5						—						48.6
Other expenses			0.7						—						—						—						0.7
Total adjusted operating expenses			79.0						28.5						220.8						(18.1)						310.2
Less: Net investment income			—						(3.1)						(5.9)						—						(9.0)
Less: Noncontrolling interest			(6.9)						—						—						—						(6.9)
Adjusted operating income (loss)			(49.0)						5.4						(162.8)						—						(206.4)
Net investment income																											9.0
Depreciation and amortization																											(15.2)
Stock-based compensation																											(61.9)
Fair value adjustments																											4.0
Contingent consideration charge																											(4.1)
Other one-off transactions																											(2.2)
Income tax expense																											(1.3)
Restructuring charges																											(1.8)
Impairment charges																											(53.5)
Net loss attributable to Hippo																											$	(333.4)
Income tax expense																											1.3
Noncontrolling interest																											6.9
Loss before income taxes																											$	(325.2)

(1)Intersegment eliminations include commissions paid from Hippo Home Insurance Program for policies sold by the Company’s Services segment (revenue, cost, and other adjustments in respective business units eliminated as part of consolidation).

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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