Hippo (HIPO) 10-Q 16 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 09, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-39711
Entity Registrant Name	HIPPO HOLDINGS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0662604
Entity Address, Address Line One	150 Forest Avenue
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94301
City Area Code	650
Local Phone Number	294-8463
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		568,103,749
Entity Central Index Key	0001828105
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	HIPO
Security Exchange Name	NYSE
Warrants to purchase common stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	HIPO.WS
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost: $89.5 and $55.6, respectively)	$ 86.5	$ 54.9
Short-term investments	348.9	9.1
Total investments	435.4	64
Cash and cash equivalents	336.8	775.6
Restricted cash	44.8	43.1
Accounts receivable, net of allowance of $0.3 and $0.4, respectively	61	56.5
Reinsurance recoverable on paid and unpaid losses and LAE	321.4	266.9
Prepaid reinsurance premiums	236	231.6
Ceding commissions receivable	49.2	41.6
Capitalized internal use software	30.3	25.9
Goodwill	53.5	53.5
Intangible assets	30.3	32.2
Other assets	75.8	51.8
Total assets	1,674.5	1,642.7
Liabilities:
Loss and loss adjustment expense reserve	282.4	260.8
Unearned premiums	252.1	253.1
Reinsurance premiums payable	201.7	159.4
Provision for commission	14.4	12.3
Contingent consideration liability	14.1	11.6
Accrued expenses and other liabilities	101.1	83.8
Total liabilities	865.8	781
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, $0.0001 par value per share; 2,000,000,000 and 2,000,000,000 shares authorized as of March 31, 2022 and December 31, 2021, respectively; 567,754,016 and 565,031,129 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	0	0
Additional paid-in capital	1,504.4	1,488.3
Accumulated other comprehensive loss	(3.3)	(0.7)
Accumulated deficit	(695.6)	(628)
Total Hippo stockholders’ equity	805.5	859.6
Noncontrolling interest	3.2	2.1
Total stockholders’ equity	808.7	861.7
Total liabilities and stockholders’ equity	$ 1,674.5	$ 1,642.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fixed maturities, available-for-sale, amortized cost	$ 89.5	$ 55.6
Accounts receivable, allowance	$ 0.3	$ 0.4
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	567,754,016	565,031,129
Common stock, shares outstanding (in shares)	567,754,016	565,031,129

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Net earned premium	$ 9	$ 8.8
Commission income, net	11.5	5.2
Service and fee income	3.6	2.9
Net investment income	0.4	0.1
Total revenue	24.5	17
Expenses:
Losses and loss adjustment expenses	22.5	19
Insurance related expenses	13.2	5.8
Technology and development	14.7	6.9
Sales and marketing	24.9	24.7
General and administrative	16.5	8.3
Interest and other (income) expense	(1)	147.1
Total expenses	90.8	211.8
Loss before income taxes	(66.3)	(194.8)
Income tax expense	0.2	0.1
Net loss	(66.5)	(194.9)
Net income attributable to noncontrolling interests, net of tax	1.1	0.3
Net loss attributable to Hippo	(67.6)	(195.2)
Other comprehensive income:
Change in net unrealized gain or loss on investments, net of tax	(2.6)	(0.6)
Comprehensive loss attributable to Hippo	(70.2)	(195.8)
Per share data:
Net loss attributable to Hippo - basic	(67.6)	(195.2)
Net loss attributable to Hippo - diluted	$ (67.6)	$ (195.2)
Weighted-average shares used in computing net loss per share attributable to Hippo - basic (in shares)	561,620,061	95,970,269
Weighted-average shares used in computing net loss per share attributable to Hippo - diluted (in shares)	561,620,061	95,970,269
Net loss per share attributable to Hippo - basic (in dollars per share)	$ (0.12)	$ (2.03)
Net loss per share attributable to Hippo - diluted (in dollars per share)	$ (0.12)	$ (2.03)

Consolidated Statements of Chan

Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total Hippo Stockholders' Equity (Deficit )	Non controlling Interests
Beginning balance (in shares) at Dec. 31, 2020	305,887,443
Beginning balance at Dec. 31, 2020	$ 344.8
Ending balance (in shares) at Mar. 31, 2021	305,887,443
Ending balance at Mar. 31, 2021	$ 344.8
Beginning balance (in shares) at Dec. 31, 2020		92,547,014
Beginning balance at Dec. 31, 2020	(199.5)	$ 0	$ 56.9	$ 0.1	$ (256.6)	$ (199.6)	$ 0.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(194.9)				(195.2)	(195.2)	0.3
Other comprehensive income	(0.6)			(0.6)		(0.6)
Issuance of common stock upon exercise of stock options (in shares)		4,604,469
Issuance of common stock upon exercise of stock options	1.9		1.9			1.9
Vesting of early exercised stock options (in shares)		171,695
Vesting of early exercised stock options	0.2		0.2			0.2
Repurchase of common stock (in shares)		(21,732)
Stock-based compensation expense	2.9		2.9			2.9
Other	0				(0.1)	(0.1)	0.1
Ending balance (in shares) at Mar. 31, 2021		97,301,446
Ending balance at Mar. 31, 2021	$ (390)	$ 0	61.9	(0.5)	(451.9)	(390.5)	0.5
Beginning balance (in shares) at Dec. 31, 2021	0
Beginning balance at Dec. 31, 2021	$ 0
Ending balance (in shares) at Mar. 31, 2022	0
Ending balance at Mar. 31, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021		565,031,129
Beginning balance at Dec. 31, 2021	861.7	$ 0	1,488.3	(0.7)	(628)	859.6	2.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(66.5)				(67.6)	(67.6)	1.1
Other comprehensive income	(2.6)			(2.6)		(2.6)
Issuance of common stock upon exercise of stock options and vesting of RSUs (in shares)		2,722,887
Issuance of common stock upon exercise of stock options and vesting of RSUs	1.2		1.2			1.2
Shares withheld related to net share settlement	$ (1)		(1)			(1)
Issuance of common stock upon exercise of stock options (in shares)	1,753,435
Vesting of early exercised stock options (in shares)		0
Vesting of early exercised stock options	$ 0.2		0.2			0.2
Stock-based compensation expense	15.7		15.7			15.7
Ending balance (in shares) at Mar. 31, 2022		567,754,016
Ending balance at Mar. 31, 2022	$ 808.7	$ 0	$ 1,504.4	$ (3.3)	$ (695.6)	$ 805.5	$ 3.2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (66.5)	$ (194.9)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3.9	2.5
Stock–based compensation expense	13.4	2.5
Change in fair value of preferred stock warrant liabilities	0	97.1
Change in fair value of warrant liability	(1.2)	0
Change in fair value of contingent consideration liability	3.2	0.6
Change in fair value of derivative liability on notes	0	39.3
Amortization of debt discount	0	8.2
Non-cash service expense	0	7
Other non-cash items	0.2	2.7
Changes in assets and liabilities:
Accounts receivable, net	(4.5)	(5.4)
Reinsurance recoverable on paid and unpaid losses and LAE	(54.5)	(74.6)
Ceding commissions receivable	(7.6)	(6.4)
Prepaid reinsurance premiums	(4.4)	(26.6)
Other assets	(3.3)	(10.2)
Provision for commission	2.1	(3.1)
Accrued expenses and other liabilities	(2.3)	26.1
Loss and loss adjustment expense reserves	21.6	62.8
Unearned premiums	(1)	24.7
Reinsurance premiums payable	42.3	32.2
Net cash used in operating activities	(58.6)	(15.5)
Cash flows from investing activities:
Capitalized internal use software costs	(3.8)	(2.7)
Purchase of intangible assets	0	(3.3)
Purchases of property and equipment	(2.4)	0
Purchases of investments	(385.4)	(5.8)
Maturities of investments	12.8	0.7
Sales of investments	2.6	2.1
Other	(2)	0
Net cash used in investing activities	(378.2)	(9)
Cash flows from financing activities:
Taxes paid related to net share settlement of equity awards	(1)	0
Proceeds from exercise of options	1.2	1.9
Other	(0.5)	(1.7)
Net cash (used in) provided by financing activities	(0.3)	0.2
Net increase in cash, cash equivalents, and restricted cash	(437.1)	(24.3)
Cash, cash equivalents, and restricted cash at the beginning of the period	818.7	492.4
Cash, cash equivalents, and restricted cash at the end of the period	381.6	468.1
Supplemental disclosures of non-cash financing and investing activities:
Convertible promissory notes issued for services	0	7
Unpaid transaction costs	$ 0	$ 3.9

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	1. Description of Business and Summary of Significant Accounting Policies Description of Business Hippo Holdings Inc., referred to in these Notes to the Consolidated Financial Statements as “Hippo” or the “Company,” specializes in the underwriting, administration, and marketing of personal property and commercial insurance policies. The Company’s subsidiary, Hippo Analytics Inc., is a licensed insurance agency that provides various insurance services, including some or all of the following services for affiliated and non-affiliated insurance carriers: soliciting, marketing, servicing, underwriting, or providing claims processing services for a variety of commercial and personal insurance products. Hippo Analytics Inc. offers its insurance products through licensed insurance agents, and direct-to-consumer channels. The Company’s insurance company subsidiaries, Spinnaker Insurance Company (“Spinnaker”), an Illinois domiciled insurance company, Spinnaker Specialty Insurance Company ("SSIC”), a Texas domiciled authorized surplus lines insurance company, and Mainsail Insurance Company (“MIC”), a Texas domiciled insurance company, underwrite personal and commercial insurance products on a direct basis through licensed insurance agents and surplus lines brokers. The Company has a wholly-owned Cayman domiciled captive insurance company, RH Solutions Insurance (Cayman) Ltd. (“RHS”) which assumes insurance risk of policies from affiliated and non-affiliated insurance carriers. Hippo was originally incorporated under the name Reinvent Technology Partners Z (“RTPZ”) as a Cayman Islands exempted company on October 2, 2020 for the purpose of effecting a merger, capital stock-exchange, asset acquisition, share purchase, reorganization, or similar business combination. On August 2, 2021, RTPZ domesticated as a Delaware corporation and changed its name to “Hippo Holdings Inc.” (the “Domestication”) and consummated the merger (the “First Merger”) of RTPZ Merger Sub Inc. (“Merger Sub”), a Delaware corporation and subsidiary of RTPZ, with and into Hippo Enterprises Inc., a Delaware corporation (“Old Hippo”), with Old Hippo surviving the Merger as a wholly owned subsidiary of the Company immediately following the First Merger, and Old Hippo (as the surviving corporation of the First Merger) was merged with and into the Company, with the Company surviving (the “Second Merger” and, together with the First Merger, the “Mergers” or the “Business Combination”). The Business Combination was completed pursuant to the terms of the Agreement and Plan of Merger, dated as of March 3, 2021, by and among RTPZ, Merger Sub and Old Hippo. Basis of Presentation and Consolidation The interim consolidated financial statements and accompanying notes of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the Company’s consolidated subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted accordingly. The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Interim results are not necessarily indicative of the results for a full year. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, loss and loss adjustment expense (“LAE”) reserves, provision for commission slide and cancellations, reinsurance recoverable on paid and unpaid losses and LAE, the fair values of investments, fair value of common stock prior to the Business Combination, stock-based awards, acquired intangible assets and goodwill, deferred tax assets and uncertain tax positions, and revenue recognition. The Company evaluates these estimates on an ongoing basis. These estimates are informed by experience and other assumptions that the Company believes are reasonable under the circumstances. Actual results may differ significantly from these estimates. Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In February 2016, the FASB issued ASU 2016-02 In June 2016, the FASB issued ASU No. 2016-13, Financial instruments — Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), and subsequent related ASUs, which amends the guidance on the impairment of financial instruments by requiring measurement and recognition of expected credit losses for financial assets held. The Company early adopted Topic 326 effective January 1, 2022 using the modified retrospective approach which resulted in no cumulative-effect adjustment to retained earnings. The adoption of the accounting guidance did not have a material impact on the Company’s available-for-sale securities. In December 2020, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The Company adopted ASU 2019-12 as of January 1, 2022, under the private company transition guidance and the adoption of this standard did not have a material impact on the Company’s consolidated financial statements. Leases Leases arise from contractual obligations that convey the right to control the use of an identified property, plant or equipment for a stated time period in exchange for consideration. The Company determines if an arrangement is, or contains a lease at contract inception. Lease classification is determined at the lease commencement date, on which the leased assets are available for the Company’s use. The Company recognizes a ROU asset and a corresponding lease liability at commencement date for operating leases. ROU assets are presented under other assets and lease liabilities are presented under accrued expenses and other liabilities in the consolidated balance sheets. The Company did not have any material finance leases in the periods presented. ROU assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company’s obligation to make payments during the lease term. ROU assets are recognized at the lease commencement date for the lease liability amount, adjusted for initial direct costs incurred and lease incentives received. Lease liabilities are recognized at commencement based on the present value of the future lease payments over the lease term. Lease terms may include options to extend or terminate the lease when the Company believes it is reasonably certain that the Company will exercise such options. Since the implicit discount rate for operating leases is not readily determinable, the Company uses an estimate of its incremental borrowing rate (“IBR”) on the lease commencement date in determining the present value of lease payments. IBR is determined based on information available at lease commencement including interest rates, credit ratings, credit spreads, and lease term. Operating lease expense is recognized on a straight-line basis over the lease term. The Company accounts for lease and non-lease components as a single lease component. Accordingly, the Company includes fixed non-lease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities. Non-lease components that are not fixed are expensed as incurred as variable lease payments. The Company does not record leases on the balance sheet that have a term of 12 months or less at the lease commencement date.

Investments

Investments	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	2. Investments The amortized cost and fair value of fixed maturities securities and short-term investments are as follows (in millions): March 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Fixed maturities available-for-sale: U.S. government and agencies $ 15.1 $ — $ (0.2) $ 14.9 States, and other territories 5.8 — (0.4) 5.4 Corporate securities 40.2 — (1.0) 39.2 Foreign securities 0.9 — — 0.9 Residential mortgage-backed securities 10.9 — (0.7) 10.2 Commercial mortgage-backed securities 6.6 — (0.4) 6.2 Asset backed securities 10.0 — (0.3) 9.7 Total fixed maturities available-for-sale 89.5 — (3.0) 86.5 Short-term investments: U.S. government and agencies 349.2 — (0.3) 348.9 Total $ 438.7 $ — $ (3.3) $ 435.4 December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Fixed maturities available-for-sale: U.S. government and agencies $ 9.3 $ — $ — $ 9.3 States, and other territories 5.8 — (0.1) 5.7 Corporate securities 17.3 — (0.2) 17.1 Foreign securities 0.9 — — 0.9 Residential mortgage-backed securities 10.8 — (0.2) 10.6 Commercial mortgage-backed securities 4.8 — (0.1) 4.7 Asset backed securities 6.7 — (0.1) 6.6 Total fixed maturities available-for-sale $ 55.6 $ — $ (0.7) $ 54.9 Short-term investments: U.S. government and agencies 9.1 — — 9.1 Total $ 64.7 $ — $ (0.7) $ 64.0 The following tables present the gross unrealized losses and related fair values for the Company’s investments in available-for-sale debt securities, grouped by duration of time in a continuous unrealized loss position as of March 31, 2022, and December 31, 2021 (in millions): March 31, 2022 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fixed maturities available-for-sale: U.S. government and agencies $ 14.4 $ (0.2) $ 0.5 $ — $ 14.9 $ (0.2) States, and other territories 0.5 — 4.9 (0.4) 5.4 (0.4) Corporate securities 25.9 (0.4) 10.8 (0.6) 36.7 (1.0) Residential mortgage-backed securities 3.0 (0.2) 6.5 (0.5) 9.5 (0.7) Commercial mortgage-backed securities — — 4.3 (0.4) 4.3 (0.4) Asset backed securities 4.6 (0.1) 4.2 (0.2) 8.8 (0.3) Short-term investments: U.S. government and agencies 348.9 (0.3) — — 348.9 (0.3) Total $ 397.3 $ (1.2) $ 31.2 $ (2.1) $ 428.5 $ (3.3) December 31, 2021 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses States, and other territories 5.2 (0.1) — — 5.2 (0.1) Corporate securities 15.9 (0.2) — — 15.9 (0.2) Residential mortgage-backed securities 10.5 (0.2) — — 10.5 (0.2) Commercial mortgage-backed securities 4.7 (0.1) — — 4.7 (0.1) Asset backed securities 5.4 (0.1) — — 5.4 (0.1) Total $ 41.7 $ (0.7) $ — $ — $ 41.7 $ (0.7) Company determined that an allowance for credit losses was not necessary as it is more likely than not that the Company will not be required to sell the investments before the recovery of the amortized cost basis. The amortized cost and fair value of fixed maturities securities by contractual maturity are as follows (in millions): March 31, 2022 Amortized Cost Fair Value Due to mature: One year or less $ 8.4 $ 8.3 After one year through five years 46.8 45.6 After five years 6.8 6.5 Residential mortgage-backed securities 10.9 10.2 Commercial mortgage-backed securities 6.6 6.2 Asset backed securities 10.0 9.7 Total fixed maturities available-for-sale $ 89.5 $ 86.5 Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Net realized gains on fixed maturity securities were insignificant for the three months ended March 31, 2022 and 2021, respectively. The Company’s net investment income is comprised of the following (in millions): Three Months Ended March 31, 2022 2021 Fixed maturities income $ 0.2 $ 0.1 Short-term investment income 0.2 — Total gross investment income 0.4 0.1 Investment expenses — — Net investment income $ 0.4 $ 0.1 Pursuant to certain regulatory requirements, the Company is required to hold assets on deposit with various state insurance departments for the benefit of policyholders. These special deposits are included in cash and cash equivalents, or fixed maturities, available-for-sale on the consolidated balance sheets. The carrying value of securities on deposit with state regulatory authorities total $9.0 million and $8.4 million as of March 31, 2022 and December 31, 2021, respectively.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Restricted Cash	3. Cash, Cash Equivalents, and Restricted Cash The following table sets forth the cash, cash equivalents, and restricted cash (in millions): March 31, December 31, Cash and cash equivalents: Cash $ 141.4 $ 219.2 Money market funds 161.4 556.4 Treasury bills 34.0 — Total cash and cash equivalents 336.8 775.6 Restricted cash: Fiduciary assets 26.7 25.0 Letters of credit and cash on deposit 18.1 18.1 Total restricted cash 44.8 43.1 Total cash, cash equivalents, and restricted cash $ 381.6 $ 818.7

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	4. Fair Value Measurement The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in millions): March 31, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 161.4 $ — $ — $ 161.4 Treasury bills 34.0 — — 34.0 Total cash equivalents 195.4 — — 195.4 Fixed maturities available-for-sale: U.S. government and agencies 14.9 — — 14.9 States, and other territories — 5.4 — 5.4 Corporate securities — 39.2 — 39.2 Foreign securities — 0.9 — 0.9 Residential mortgage-backed securities — 10.2 — 10.2 Commercial mortgage-backed securities — 6.2 — 6.2 Asset backed securities — 9.7 — 9.7 Total fixed maturities available-for-sale 14.9 71.6 — 86.5 Short term investments U.S. government and agencies 348.9 — — 348.9 Total financial assets $ 559.2 $ 71.6 $ — $ 630.8 Financial liabilities: Contingent consideration liability $ — $ — $ 14.1 $ 14.1 Public warrants 1.6 — — 1.6 Private placement warrants — 1.5 — 1.5 Total financial liabilities $ 1.6 $ 1.5 $ 14.1 $ 17.2 December 31, 2021 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 556.4 $ — $ — $ 556.4 Total cash equivalents 556.4 — — 556.4 Fixed maturities available-for-sale: U.S. government and agencies 9.3 — — 9.3 States, and other territories — 5.7 — 5.7 Corporate securities — 17.1 — 17.1 Foreign securities — 0.9 — 0.9 Residential mortgage-backed securities — 10.6 — 10.6 Commercial mortgage-backed securities — 4.7 — 4.7 Asset backed securities — 6.6 — 6.6 Total fixed maturities available-for-sale 9.3 45.6 — 54.9 Short term investments U.S. government and agencies — 9.1 — 9.1 Total financial assets $ 565.7 $ 54.7 $ — $ 620.4 Financial liabilities: Contingent consideration liability $ — $ — $ 11.6 $ 11.6 Public warrants 2.2 — — 2.2 Private placement warrants — 2.1 — 2.1 Total financial liabilities $ 2.2 $ 2.1 $ 11.6 $ 15.9 The Company’s policy is to recognize transfers into and transfers out of fair value hierarchy levels at the end of each reporting period. There were no transfers between levels in the fair value hierarchy during the three months ended March 31, 2022. Contingent Consideration The contingent consideration, relating to the Company’s 2019 acquisition of North American Advantage Insurance Services, LLC, is re-valued to fair value at the end of each reporting period using the present value of future payments based on an estimate of revenue and customer renewals. North American Advantage Insurance Services, LLC’s ultimate parent company was Lennar Corporation, a related party of the Company. There is no limit to the maximum potential contingent consideration as the consideration is based on acquired customer retention. The table below presents the changes in the contingent consideration liability valued using Level 3 inputs (in millions): 2022 2021 Balance as of January 1, $ 11.6 $ 12.0 Payments of contingent consideration (0.7) (0.7) Changes in fair value 3.2 0.6 Balance as of March 31, $ 14.1 $ 11.9 Preferred Stock Warrant Liabilities The preferred stock warrants were issued through the issuance of Series A-2 and Series C-1 Preferred Stock in March 2017 and October 2018, respectively. The warrants were vested immediately. Prior to the Business Combination on August 2, 2021, the holders exercised their warrants for 2,494,116 shares of Old Hippo preferred stock in exchange for 17,344,906 shares of the Company’s common stock. The warrants were classified as a liability as the underlying redeemable convertible preferred stock was not considered redeemable and would have required us to transfer assets upon exercise. The warrants were recorded at fair value upon issuance and are subject to remeasurement of fair value using the Black-Scholes-Merton option-pricing model at each balance sheet date. The table below presents changes in the preferred stock warrant liability valued using Level 3 inputs (in millions): 2021 Balance as of January 1, $ 22.9 Changes in fair value 97.1 Balance as of March 31, $ 120.0 The following assumptions were used in determining fair value of the convertible preferred stock warrant liabilities: March 31, 2021 Fair value of Series A-2 Preferred Stock $ 59.10 Fair value of Series C-1 Preferred Stock $ 59.73 Exercise price A-2 Preferred Stock $ 1.57 Exercise price C-1 Preferred Stock $ 11.74 Expected term (in years) 1.6-6.0 Expected volatility 29.0%-43.8% Risk-free interest rate 0.1%-1.2% Expected dividend yield — % Derivative liability on notes The embedded derivative liabilities on the previously issued and outstanding convertible promissory notes were re-valued to the then current fair value at the end the reporting period using the income-based approach with or without a 10% discount. The expected time to conversion used in the mark to market valuation was 0.3-2.9 years. The table below presents the changes in derivative liability on convertible promissory notes valued using Level 3 inputs (in millions): 2021 Balance as of January 1, $ 113.3 Initial measurement of new derivative 2.8 Changes in fair value 39.3 Balance as of March 31, $ 155.4

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets March 31, 2022 December 31, 2021 Weighted- Average Useful Life Remaining (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in millions) (in millions) Agency and carrier relationships 6.7 $ 13.5 $ (2.1) $ 11.4 $ 13.5 $ (1.7) $ 11.8 State licenses and domain name Indefinite 10.5 — 10.5 10.5 — 10.5 Customer relationships 3.0 13.7 (6.6) 7.1 13.7 (6.0) 7.7 Developed technology — — — — 3.6 (2.7) 0.9 VOBA — — — — 0.1 (0.1) — Other 6.5 2.0 (0.7) 1.3 2.0 (0.7) 1.3 Total intangible assets, net $ 39.7 $ (9.4) $ 30.3 $ 43.4 $ (11.2) $ 32.2 Amortization expense related to intangible assets for the three months ended March 31, 2022 and 2021 was $1.9 million and $1.4 million, respectively. The amortization expense is included in technology and development expenses for developed technology, sales and marketing expenses for customer relationships, agency relationships, carrier relationships and other. Amortization expense related to value of business acquired (VOBA) is included in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss.

Capitalized Internal Use Softwa

Capitalized Internal Use Software	3 Months Ended
	Mar. 31, 2022
Research and Development [Abstract]
Capitalized Internal Use Software	6. Capitalized Internal Use Software March 31, December 31, (in millions) Capitalized internal use software $ 40.7 $ 34.5 Less: accumulated amortization (10.4) (8.6) Total capitalized internal use software $ 30.3 $ 25.9 Amortization expense totaled $1.8 million and $1.0 million for the three months ended March 31, 2022 and 2021, respectively.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	7. Other Assets March 31, December 31, (in millions) Prepaid expenses $ 26.1 $ 21.2 Claims receivable 25.0 24.4 Lease right-of-use assets 15.9 — Other 8.8 6.2 Total other assets $ 75.8 $ 51.8

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	8. Accrued Expenses and Other Liabilities March 31, December 31, (in millions) Claim payments outstanding $ 25.3 $ 23.2 Lease liability 16.6 — Advances from customers 13.7 8.7 Deferred revenue 10.8 11.2 Employee related accruals 8.1 8.5 Premium refund liability 6.1 4.8 Fiduciary liability 4.6 3.7 Accrued licenses and taxes 3.2 5.8 Warrant liability 3.1 4.3 Other 9.6 13.6 Total accrued expenses and other liabilities $ 101.1 $ 83.8

Loss and Loss Adjustment Expens

Loss and Loss Adjustment Expense Reserves	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
Loss and Loss Adjustment Expense Reserves	9. Loss and Loss Adjustment Expense Reserves The reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses, net of reinsurance is summarized as follows for the three months ended March 31, (in millions): 2022 2021 Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of beginning of the period $ 260.8 $ 105.1 Reinsurance recoverables on unpaid losses (217.0) (92.1) Reserve for losses and LAE, net of reinsurance recoverables as of beginning of the period 43.8 13.0 Add: Incurred losses and LAE, net of reinsurance, related to: Current year 25.3 19.4 Prior years (2.8) (0.4) Total incurred 22.5 19.0 Deduct: Loss and LAE payments, net of reinsurance, related to: Current year 8.8 9.8 Prior year 10.4 4.4 Total paid 19.2 14.2 Reserve for losses and LAE, net of reinsurance recoverables at end of period 47.1 17.8 Add: Reinsurance recoverables on unpaid losses and LAE at end of period 235.3 150.1 Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of end of the period $ 282.4 $ 167.9 Loss development occurs when actual losses incurred vary from the Company’s previously developed estimates, which are established through the Company’s loss and LAE reserve estimate processes. Net incurred losses and LAE experienced favorable development of $2.8 million and $0.4 million for the three months ended March 31, 2022 and 2021, respectively. The prior period development of $2.8 million was driven primarily by favorable net loss development relating to the 2021 accident year, resulting in a net release of $2.1 million from attritional reserves and $0.7 million from catastrophe reserves. These changes are generally a result of ongoing analysis of claims emergence patterns and loss trends. Unpaid loss and LAE includes anticipated salvage and subrogation recoverable. The amount of anticipated salvage and subrogation recoverable is insignificant as of March 31, 2022.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
Reinsurance	10. Reinsurance The Company purchases reinsurance to help manage exposure to property and casualty insurance risks, including attritional and catastrophic risks. The Company’s insurance company subsidiaries have entered into proportional and non-proportional reinsurance treaties, under which a significant portion of the liabilities have been ceded to third party reinsurers. The Company also assumes risk from non-affiliated insurance carriers. Proportional Reinsurance Treaties — Hippo For the Company’s primary homeowners reinsurance treaties commencing in 2021 and 2022, the Company secured proportional, quota share reinsurance from a diverse panel of third-party reinsurers. Two of the reinsurers, representing approximately one-third of the programs, provided three-year agreements which incepted in 2021. All reinsurers are either rated “A-” Excellent or better by AM Best, or are collateralized. The Company retains approximately 10% of the premium through its insurance company subsidiaries. Additionally, the reinsurance contracts continue to be subject to variable commission adjustments and loss participation features, including loss ratio caps and loss corridors, and may increase the amount of risk retained by the Company in excess of the Company’s pro-rata participation. Such provisions are recognized in the period based on the experience to date under the agreements. Non-Proportional Reinsurance — Hippo The Company further reduces its risk retention through the purchase of non-proportional reinsurance, primarily excess of loss catastrophe coverage (“XOL”). Through the Company’s insurance company subsidiaries, the Company is exposed to the risk of natural catastrophe events that could occur on the risks arising from policies underwritten by the Company or other managing general agents (“MGAs”). In 2021, the per-risk program protected the Company from large, individual claims that are less likely to be associated with catastrophes, such as house fires. The Company purchased this coverage for the benefit of its retained shares for losses on single policies in excess of $0.5 million. The per-risk reinsurance program was not continued in 2022. Other Reinsurance Other Spinnaker reinsurance treaties are a mix of proportional and XOL in which approximately 75% to 100% of the risk is ceded. The reinsurance contracts continue to be subject to variable commission adjustments and loss participation features, including loss caps, and may increase the amount of risk retained by the Company in excess of the Company’s proportional participation. Such provisions are recognized in the period the experience to date under the agreement. The Company also purchases a corporate catastrophe XOL program, which provides protection to the Company from catastrophes that could impact a large number of insurance policies. The XOL program provides protection so that the probability of losses from a single occurrence exceeding the protection purchased is no more than 0.4%, or equivalent to a 1 in 250 year return period. This reinsurance protects the Company from all but the most severe catastrophic events. With all reinsurance programs, the Company’s wholly owned insurance carriers are not relieved of their primary obligations to policyholders in the event of a default or the insolvency of its reinsurers. As a result, a credit exposure exists to the extent that any reinsurer fails to meet its obligations assumed in the reinsurance agreements. To mitigate this exposure to reinsurance insolvencies, the Company evaluates the financial condition of its reinsurers and, in certain circumstances, hold substantial collateral (in the form of funds withheld, qualified trusts, and letters of credit) as security under the reinsurance agreements. No amounts have been recorded in the three months ended March 31, 2022 and 2021 for amounts anticipated to be uncollectible or for the anticipated failure of a reinsurer to meet its obligations under the contracts. The following tables reflect amounts affecting the consolidated statements of operations and comprehensive loss for ceded reinsurance as of and for the three months ended March 31, 2022, and 2021 (in millions). For the Three Months Ended March 31, 2022 2021 Written premiums Earned premiums Loss and LAE incurred Written premiums Earned premiums Loss and LAE incurred Direct $ 117.0 $ 120.1 $ 90.9 $ 95.1 $ 71.0 $ 142.1 Assumed 0.1 — 0.3 4.1 3.4 5.3 Gross 117.1 120.1 91.2 99.2 74.4 147.4 Ceded (116.5) (111.1) (68.7) (92.0) (65.6) (128.4) Net $ 0.6 $ 9.0 $ 22.5 $ 7.2 $ 8.8 $ 19.0 As of March 31, 2022 and December 31, 2021, a provision for sliding scale commissions of $9.2 million and $8.6 million, respectively, is included in provision for commission on the consolidated balance sheets. As of March 31, 2022 and December 31, 2021, a receivable for sliding scale commissions of $3.1 million and $2.7 million, respectively, is included in ceding commissions receivable on the consolidated balance sheets. As of March 31, 2022 and December 31, 2021, a provision for loss participation features of $16.4 million and $8.3 million, respectively, was recorded as a contra-asset in reinsurance recoverable on the consolidated balance sheets.

Geographical Breakdown of Gross

Geographical Breakdown of Gross Written Premium	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
Geographical Breakdown of Gross Written Premium	11. Geographical Breakdown of Gross Written Premium Gross written premium by state is as follows (in millions): Three Months Ended March 31, 2022 2021 Amount % of GWP Amount % of GWP State Texas $ 33.9 28.9 % $ 33.0 33.3 % California 22.1 18.9 % 18.9 19.1 % Florida 6.8 5.8 % 5.8 5.8 % Georgia 6.1 5.2 % 4.1 4.1 % Illinois 3.5 3.0 % 3.1 3.1 % Colorado 3.2 2.7 % 2.5 2.5 % Missouri 3.0 2.6 % 2.4 2.4 % Arizona 3.1 2.6 % 2.4 2.4 % Ohio 2.6 2.2 % 2.0 2.0 % New Jersey 2.6 2.2 % 2.2 2.2 % Other 30.2 25.8 % 22.8 23.0 % Total $ 117.1 100 % $ 99.2 100 %

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Legal Proceedings From time to time, the Company may become involved in litigation or other legal proceedings. The Company is routinely named in litigation involving claims from policyholders. Legal proceedings relating to claims are reserved in the normal course of business. The Company does not believe it is a party to any pending litigation or other legal proceedings that is likely to have a material adverse effect on our business, financial condition or results of operations. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. On November 19, 2021, Hippo and its Chief Executive Officer (“CEO”) were named in a civil action in San Francisco Superior Court brought by Eyal Navon. Mr. Navon brings six causes of action against Hippo’s CEO for breach of fiduciary duty, breach of contract, promissory estoppel, fraud, negligent misrepresentation, and constructive fraud surrounding a loan and call option entered into between Innovius Capital Canopus I, L.P. (“Innovius”) and Mr. Navon, as well as alleged promises made by Hippo’s CEO to Mr. Navon while Mr. Navon was an employee of Hippo. Mr. Navon brings two causes of action against Hippo – he repeats the fraud claim that is alleged against the CEO, and also alleges a claim for declaratory judgment, requesting that the Court declare that Mr. Navon properly revoked the call option he entered into with Innovius. On January 20, 2022, Hippo filed a demurrer, moving to dismiss the claims alleged in the complaint against Hippo. The Court sustained Hippo’s demurrer, dismissing all claims against Hippo without prejudice. On May 2, 2022, Mr. Navon amended his complaint, naming Hippo in his breach of contract, promissory estoppel, negligent misrepresentation, and constructive fraud causes of action (in addition to re-pleading the declaratory relief and fraud causes of action). Hippo’s responsive pleading is due on June 1, 2022. Hippo’s CEO has yet to be properly served in the matter. The lawsuit is in the early stages and, at this time, the Company is unable to predict the outcome and cannot estimate the likelihood or magnitude of the Company’s possible or potential loss contingency.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	13. Leases The Company leases office space under non-cancelable operating leases with various expiration dates through 2026, some of which include options to extend the leases for up to 5 years. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably certain. For the three months ended March 31, 2022, the Company recognized operating lease expense of $1.0 million in the consolidated statement of operations. Under ASC 840, the operating lease expense during the three months ended March 31, 2021 was $0.7 million. The weighted average remaining lease term and the weighted average discount rate for operating leases as of March 31, 2022 were as follows: Weighted average remaining lease term 4.29 Weighted average discount rate 3.38 % Maturities of operating lease liabilities by fiscal year as of March 31, 2022 are as follows (in millions): Operating Leases 2022 (Remainder) $ 2.9 2023 3.9 2024 4.0 2025 3.7 2026 2.7 Thereafter — Total undiscounted lease payments 17.2 Less: Imputed interest (0.6) Present value of lease payments 16.6 As of March 31, 2022, the Company has entered in additional operating leases for office space that have not yet commenced with total future lease obligations of $7.2 million. These operating leases are expected to commence during 2022. The following table presents supplemental cash flow information about the Company’s operating leases (in millions): Three Months Ended March 31, 2022 Cash paid for amounts included in measurement of liabilities Operating cash flows from operating leases $ (1.0) Right-of-use assets obtained in exchange for new operating liabilities $ —

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders’ Equity	14. Stockholders’ Equity Common Stock On August 2, 2021, the Company’s common stock and warrants began trading on the New York Stock Exchange (“NYSE”) under the ticker symbols “HIPO” and “HIPO.WS,” respectively. Pursuant to Certificate of Incorporation, the Company is authorized to issue 2 billion shares of common stock, with a par value of $0.0001 per share. Each share of common stock is entitled to one vote. The holders of the common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors. No dividends have been declared or paid since inception. Stock-Based Compensation Plans 2019 Stock Option and Grant Plan Adopted in 2019, the 2019 Stock Option and Grant Plan (“the 2019 Stock Plan”) provides for the direct award or sale of shares, the grant of options to purchase shares, and the grant of restricted stock units (“RSUs”) to employees, consultants, and outside directors of the Company. Stock options under the plan may be either incentive stock options (“ISOs”) or non-qualified stock options (“NSOs”), with an exercise price of not less than 100% of fair market value on the grant date, with a term less than or equal to ten years. The vesting period of each option and RSU shall be as determined by a committee of the Company’s board of directors but is generally over four years. Upon the closing of the Business Combination, the remaining unallocated share reserve under the 2019 Plan was cancelled and no new awards will be granted under such plan. Awards outstanding under the 2019 Plan were assumed by the Company upon the Closing and continue to be governed by the terms of the 2019 Plan. 2021 Incentive Award Plan In connection with the Closing of the Business Combination, on August 2, 2021, the Company adopted the 2021 Incentive Award Plan (the “2021 Plan”), which authorized for issuance 78,000,000 shares of common stock. The 2021 Plan provides for the issuance of a variety of stock-based compensation awards, including stock options, stock appreciation rights (“SARs”), restricted stock awards, restricted stock unit awards, performance bonus awards, performance stock unit awards, dividend equivalents, or other stock or cash-based awards. The vesting period of each option and award shall be as determined by a committee of the Company’s board of directors but is generally over two This reserve increases on January 1 of each year through 2031, by an amount equal to the smaller of: (i) 5% of the number of shares of common stock issued and outstanding on the last day of the immediately preceding fiscal year, or (ii) an amount determined by the board of directors. Stock Options The following table summarizes option activity under the plans: Options Outstanding Weighted-Average Remaining Aggregate Intrinsic Value Number of Shares Weighted Average Exercise Price Contract Term Outstanding as of December 31, 2021 47,538,926 $ 1.39 8.30 $ 84.8 Granted — — Exercised (1,753,435) 0.64 Cancelled/Expired (1,336,079) 1.23 Outstanding as of March 31, 2022 44,449,412 $ 1.35 8.04 $ 45.5 Vested and exercisable as of March 31, 2022 17,879,890 $ 0.94 7.72 $ 21.2 The aggregate intrinsic value of options exercised during the three months ended March 31, 2022 and 2021 was $2.5 million and $34.3 million, respectively, and is calculated based on the difference between the exercise price and the fair value of the Company’s common stock as of the exercise date. Total unrecognized compensation cost of $25.2 million as of March 31, 2022 is expected to be recognized over a weighted-average period of 2.2 years. Early Exercises of Stock Options In 2019, certain employees early exercised stock options in exchange for promissory notes. The Company accounted for the promissory notes as nonrecourse in their entirety because the promissory notes are not aligned with a corresponding percentage of the underlying shares. The early exercises of options were not deemed to be substantive exercises for accounting purposes. Each of these loans and all interest accrued thereon was forgiven upon the consummation of the Business Combination. The forgiveness of the promissory notes were deemed to be exercises of the 9.4 million stock options with an intrinsic value of $94.0 million on the date of forgiveness. The related number of unvested shares subject to repurchase as of March 31, 2022 was 2,362,894 . In 2020 and 2021, certain employees early exercised stock options with cash. On March 31, 2022 and December 31, 2021, the Company had $2.0 million and $2.2 million, respectively, recorded in accrued expenses and other liabilities related to early exercises of the stock options, and the related number of unvested shares subject to repurchase was 1,888,525 and 2,060,221, respectively. Restricted Stock Units In August 2021, the Company began granting RSUs under the 2021 Incentive Award Plan. The RSUs granted to employees are measured based on the grant-date fair value. In general, the Company’s RSUs vest over a service period of two Number of Shares Weighted Average Grant-Date Fair Value per Share Unvested and outstanding as of December 31, 2021 27,170,930 $ 3.91 Granted 3,808,702 1.98 Vested (1,409,457) 3.93 Canceled and forfeited (1,546,494) 3.86 Unvested and outstanding as of March 31, 2022 28,023,681 $ 3.65 Total unrecognized compensation cost related to unvested RSUs is $90.9 million as of March 31, 2022, and it is expected to be recognized over a weighted-average period of 3.1 years. Performance Restricted Stock Units In August 2021 and November 2021, the Company granted performance-based restricted stock units ( PRSUs), w hich become eligible to vest subject to the achievement of specified performance conditions within 18 months of the grant date. Compensation expense for PRSUs reflects the estimated probability that performance conditions will be met. The Company recognized $2.3 million of stock-based compensation expense associated with the PRSUs for the three months ended March 31, 2022. Total unrecognized compensation cost related to unvested PRSUs is $3.9 million as of March 31, 2022, and it is expected to be recognized within the next six months. 2021 Employee Stock Purchase Plan In connection with the closing of the Business Combination, the Company adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which authorized 13,000,000 shares of common stock for issuance. The 2021 ESPP became effective on October 25, 2021. The 2021 ESPP is designed to allow eligible employees of the Company to purchase shares of our common stock with their accumulated payroll deductions at a price equal to 85% of the lesser of the fair market value on the first business day of the offering period or on the designated purchase date of the offering period up to $25,000 during the calendar year. The ESPP offers a six-month look-back feature as well as an automatic reset feature that provides for an offering period to be reset to a new lower-priced offering if the offering price of the new offering period is less than that of the current offering period. No shares have been issued under the 2021 ESPP as of March 31, 2022 . In addition, the number of shares available for issuance under the 2021 ESPP will be annually increased on January 1 of each calendar year beginning in 2022 and ending in 2031, by an amount equal to the lesser of (i) one percent of the shares outstanding (on a converted basis) on the last day of the immediately preceding fiscal year and (ii) such number of shares as may be determined by the board of directors. Stock-Based Compensation Total stock-based compensation expense, classified in the accompanying consolidated statements of operations and comprehensive loss was as follows (in millions): Three Months Ended March 31, 2022 2021 Losses and loss adjustment expenses $ 0.7 $ 0.1 Insurance related expenses 1.3 0.1 Technology and development 5.2 0.4 Sales and marketing 2.4 1.0 General and administrative 3.8 0.9 Total stock-based compensation expense $ 13.4 $ 2.5

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes The consolidated effective tax rate was (0.3)% and (0.1)% for the three months ended March 31, 2022 and 2021, respectively. The difference between the rate for the three months ended March 31, 2022 and 2021 and the U.S. federal income tax rate of 21% was due primarily to a full valuation allowance against the Company’s net deferred tax assets. As of March 31, 2022 and 2021, the Company has $1.1 million and $0.0 million of unrecognized tax benefits, respectively, fully offset by a valuation allowance. No interest or penalties were incurred during the three months ended March 31, 2022 and 2021.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	16. Net Loss Per Share Attributable to Common Stockholders Net loss per share attributable to common stockholders was computed as follows: Three Months Ended March 31, 2022 2021 Numerator: Net loss attributable to Hippo – basic and diluted (in millions) $ (67.6) $ (195.2) Denominator: Weighted-average shares used in computing net loss per share attributable to Hippo — basic and diluted 561,620,061 95,970,269 Net loss per share attributable to Hippo — basic and diluted $ (0.12) $ (2.03) The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: March 31, 2022 2021 Convertible preferred stock (on an as if converted basis) — 305,887,443 Outstanding options 44,449,412 68,856,873 Warrants to purchase common shares 9,000,000 33,384,616 Warrants to purchase preferred shares — 17,344,906 Common stock subject to repurchase 4,251,406 12,003,660 RSU and PRSUs 29,792,100 — Convertible notes — 149,377,472 Total 87,492,918 586,854,969

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	The interim consolidated financial statements and accompanying notes of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the Company’s consolidated subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted accordingly. The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Interim results are not necessarily indicative of the results for a full year.
Use of Estimates	The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, loss and loss adjustment expense (“LAE”) reserves, provision for commission slide and cancellations, reinsurance recoverable on paid and unpaid losses and LAE, the fair values of investments, fair value of common stock prior to the Business Combination, stock-based awards, acquired intangible assets and goodwill, deferred tax assets and uncertain tax positions, and revenue recognition. The Company evaluates these estimates on an ongoing basis. These estimates are informed by experience and other assumptions that the Company believes are reasonable under the circumstances. Actual results may differ significantly from these estimates.
Recent Accounting Pronouncements	Accounting Pronouncements Recently Adopted In February 2016, the FASB issued ASU 2016-02 In June 2016, the FASB issued ASU No. 2016-13, Financial instruments — Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), and subsequent related ASUs, which amends the guidance on the impairment of financial instruments by requiring measurement and recognition of expected credit losses for financial assets held. The Company early adopted Topic 326 effective January 1, 2022 using the modified retrospective approach which resulted in no cumulative-effect adjustment to retained earnings. The adoption of the accounting guidance did not have a material impact on the Company’s available-for-sale securities. In December 2020, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The Company adopted ASU 2019-12 as of January 1, 2022, under the private company transition guidance and the adoption of this standard did not have a material impact on the Company’s consolidated financial statements.
Leases	Leases arise from contractual obligations that convey the right to control the use of an identified property, plant or equipment for a stated time period in exchange for consideration. The Company determines if an arrangement is, or contains a lease at contract inception. Lease classification is determined at the lease commencement date, on which the leased assets are available for the Company’s use. The Company recognizes a ROU asset and a corresponding lease liability at commencement date for operating leases. ROU assets are presented under other assets and lease liabilities are presented under accrued expenses and other liabilities in the consolidated balance sheets. The Company did not have any material finance leases in the periods presented. ROU assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company’s obligation to make payments during the lease term. ROU assets are recognized at the lease commencement date for the lease liability amount, adjusted for initial direct costs incurred and lease incentives received. Lease liabilities are recognized at commencement based on the present value of the future lease payments over the lease term. Lease terms may include options to extend or terminate the lease when the Company believes it is reasonably certain that the Company will exercise such options. Since the implicit discount rate for operating leases is not readily determinable, the Company uses an estimate of its incremental borrowing rate (“IBR”) on the lease commencement date in determining the present value of lease payments. IBR is determined based on information available at lease commencement including interest rates, credit ratings, credit spreads, and lease term. Operating lease expense is recognized on a straight-line basis over the lease term. The Company accounts for lease and non-lease components as a single lease component. Accordingly, the Company includes fixed non-lease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities. Non-lease components that are not fixed are expensed as incurred as variable lease payments. The Company does not record leases on the balance sheet that have a term of 12 months or less at the lease commencement date.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Fixed Maturities Securities and Short-Term Investments	The amortized cost and fair value of fixed maturities securities and short-term investments are as follows (in millions): March 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Fixed maturities available-for-sale: U.S. government and agencies $ 15.1 $ — $ (0.2) $ 14.9 States, and other territories 5.8 — (0.4) 5.4 Corporate securities 40.2 — (1.0) 39.2 Foreign securities 0.9 — — 0.9 Residential mortgage-backed securities 10.9 — (0.7) 10.2 Commercial mortgage-backed securities 6.6 — (0.4) 6.2 Asset backed securities 10.0 — (0.3) 9.7 Total fixed maturities available-for-sale 89.5 — (3.0) 86.5 Short-term investments: U.S. government and agencies 349.2 — (0.3) 348.9 Total $ 438.7 $ — $ (3.3) $ 435.4 December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Fixed maturities available-for-sale: U.S. government and agencies $ 9.3 $ — $ — $ 9.3 States, and other territories 5.8 — (0.1) 5.7 Corporate securities 17.3 — (0.2) 17.1 Foreign securities 0.9 — — 0.9 Residential mortgage-backed securities 10.8 — (0.2) 10.6 Commercial mortgage-backed securities 4.8 — (0.1) 4.7 Asset backed securities 6.7 — (0.1) 6.6 Total fixed maturities available-for-sale $ 55.6 $ — $ (0.7) $ 54.9 Short-term investments: U.S. government and agencies 9.1 — — 9.1 Total $ 64.7 $ — $ (0.7) $ 64.0
Schedule of Unrealized Loss on Investments	The following tables present the gross unrealized losses and related fair values for the Company’s investments in available-for-sale debt securities, grouped by duration of time in a continuous unrealized loss position as of March 31, 2022, and December 31, 2021 (in millions): March 31, 2022 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fixed maturities available-for-sale: U.S. government and agencies $ 14.4 $ (0.2) $ 0.5 $ — $ 14.9 $ (0.2) States, and other territories 0.5 — 4.9 (0.4) 5.4 (0.4) Corporate securities 25.9 (0.4) 10.8 (0.6) 36.7 (1.0) Residential mortgage-backed securities 3.0 (0.2) 6.5 (0.5) 9.5 (0.7) Commercial mortgage-backed securities — — 4.3 (0.4) 4.3 (0.4) Asset backed securities 4.6 (0.1) 4.2 (0.2) 8.8 (0.3) Short-term investments: U.S. government and agencies 348.9 (0.3) — — 348.9 (0.3) Total $ 397.3 $ (1.2) $ 31.2 $ (2.1) $ 428.5 $ (3.3) December 31, 2021 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses States, and other territories 5.2 (0.1) — — 5.2 (0.1) Corporate securities 15.9 (0.2) — — 15.9 (0.2) Residential mortgage-backed securities 10.5 (0.2) — — 10.5 (0.2) Commercial mortgage-backed securities 4.7 (0.1) — — 4.7 (0.1) Asset backed securities 5.4 (0.1) — — 5.4 (0.1) Total $ 41.7 $ (0.7) $ — $ — $ 41.7 $ (0.7)
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of fixed maturities securities by contractual maturity are as follows (in millions): March 31, 2022 Amortized Cost Fair Value Due to mature: One year or less $ 8.4 $ 8.3 After one year through five years 46.8 45.6 After five years 6.8 6.5 Residential mortgage-backed securities 10.9 10.2 Commercial mortgage-backed securities 6.6 6.2 Asset backed securities 10.0 9.7 Total fixed maturities available-for-sale $ 89.5 $ 86.5
Investment Income	The Company’s net investment income is comprised of the following (in millions): Three Months Ended March 31, 2022 2021 Fixed maturities income $ 0.2 $ 0.1 Short-term investment income 0.2 — Total gross investment income 0.4 0.1 Investment expenses — — Net investment income $ 0.4 $ 0.1

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The following table sets forth the cash, cash equivalents, and restricted cash (in millions): March 31, December 31, Cash and cash equivalents: Cash $ 141.4 $ 219.2 Money market funds 161.4 556.4 Treasury bills 34.0 — Total cash and cash equivalents 336.8 775.6 Restricted cash: Fiduciary assets 26.7 25.0 Letters of credit and cash on deposit 18.1 18.1 Total restricted cash 44.8 43.1 Total cash, cash equivalents, and restricted cash $ 381.6 $ 818.7
Restrictions on Cash and Cash Equivalents	The following table sets forth the cash, cash equivalents, and restricted cash (in millions): March 31, December 31, Cash and cash equivalents: Cash $ 141.4 $ 219.2 Money market funds 161.4 556.4 Treasury bills 34.0 — Total cash and cash equivalents 336.8 775.6 Restricted cash: Fiduciary assets 26.7 25.0 Letters of credit and cash on deposit 18.1 18.1 Total restricted cash 44.8 43.1 Total cash, cash equivalents, and restricted cash $ 381.6 $ 818.7

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in millions): March 31, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 161.4 $ — $ — $ 161.4 Treasury bills 34.0 — — 34.0 Total cash equivalents 195.4 — — 195.4 Fixed maturities available-for-sale: U.S. government and agencies 14.9 — — 14.9 States, and other territories — 5.4 — 5.4 Corporate securities — 39.2 — 39.2 Foreign securities — 0.9 — 0.9 Residential mortgage-backed securities — 10.2 — 10.2 Commercial mortgage-backed securities — 6.2 — 6.2 Asset backed securities — 9.7 — 9.7 Total fixed maturities available-for-sale 14.9 71.6 — 86.5 Short term investments U.S. government and agencies 348.9 — — 348.9 Total financial assets $ 559.2 $ 71.6 $ — $ 630.8 Financial liabilities: Contingent consideration liability $ — $ — $ 14.1 $ 14.1 Public warrants 1.6 — — 1.6 Private placement warrants — 1.5 — 1.5 Total financial liabilities $ 1.6 $ 1.5 $ 14.1 $ 17.2 December 31, 2021 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents: Money market funds $ 556.4 $ — $ — $ 556.4 Total cash equivalents 556.4 — — 556.4 Fixed maturities available-for-sale: U.S. government and agencies 9.3 — — 9.3 States, and other territories — 5.7 — 5.7 Corporate securities — 17.1 — 17.1 Foreign securities — 0.9 — 0.9 Residential mortgage-backed securities — 10.6 — 10.6 Commercial mortgage-backed securities — 4.7 — 4.7 Asset backed securities — 6.6 — 6.6 Total fixed maturities available-for-sale 9.3 45.6 — 54.9 Short term investments U.S. government and agencies — 9.1 — 9.1 Total financial assets $ 565.7 $ 54.7 $ — $ 620.4 Financial liabilities: Contingent consideration liability $ — $ — $ 11.6 $ 11.6 Public warrants 2.2 — — 2.2 Private placement warrants — 2.1 — 2.1 Total financial liabilities $ 2.2 $ 2.1 $ 11.6 $ 15.9
Liabilities Measured on at Fair Value, Unobservable Input Reconciliation	The table below presents the changes in the contingent consideration liability valued using Level 3 inputs (in millions): 2022 2021 Balance as of January 1, $ 11.6 $ 12.0 Payments of contingent consideration (0.7) (0.7) Changes in fair value 3.2 0.6 Balance as of March 31, $ 14.1 $ 11.9 The table below presents changes in the preferred stock warrant liability valued using Level 3 inputs (in millions): 2021 Balance as of January 1, $ 22.9 Changes in fair value 97.1 Balance as of March 31, $ 120.0 2021 Balance as of January 1, $ 113.3 Initial measurement of new derivative 2.8 Changes in fair value 39.3 Balance as of March 31, $ 155.4
Fair Value Measurement Inputs and Valuation Techniques	The following assumptions were used in determining fair value of the convertible preferred stock warrant liabilities: March 31, 2021 Fair value of Series A-2 Preferred Stock $ 59.10 Fair value of Series C-1 Preferred Stock $ 59.73 Exercise price A-2 Preferred Stock $ 1.57 Exercise price C-1 Preferred Stock $ 11.74 Expected term (in years) 1.6-6.0 Expected volatility 29.0%-43.8% Risk-free interest rate 0.1%-1.2% Expected dividend yield — %

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	March 31, 2022 December 31, 2021 Weighted- Average Useful Life Remaining (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in millions) (in millions) Agency and carrier relationships 6.7 $ 13.5 $ (2.1) $ 11.4 $ 13.5 $ (1.7) $ 11.8 State licenses and domain name Indefinite 10.5 — 10.5 10.5 — 10.5 Customer relationships 3.0 13.7 (6.6) 7.1 13.7 (6.0) 7.7 Developed technology — — — — 3.6 (2.7) 0.9 VOBA — — — — 0.1 (0.1) — Other 6.5 2.0 (0.7) 1.3 2.0 (0.7) 1.3 Total intangible assets, net $ 39.7 $ (9.4) $ 30.3 $ 43.4 $ (11.2) $ 32.2
Schedule of Finite-Lived Intangible Assets	March 31, 2022 December 31, 2021 Weighted- Average Useful Life Remaining (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in millions) (in millions) Agency and carrier relationships 6.7 $ 13.5 $ (2.1) $ 11.4 $ 13.5 $ (1.7) $ 11.8 State licenses and domain name Indefinite 10.5 — 10.5 10.5 — 10.5 Customer relationships 3.0 13.7 (6.6) 7.1 13.7 (6.0) 7.7 Developed technology — — — — 3.6 (2.7) 0.9 VOBA — — — — 0.1 (0.1) — Other 6.5 2.0 (0.7) 1.3 2.0 (0.7) 1.3 Total intangible assets, net $ 39.7 $ (9.4) $ 30.3 $ 43.4 $ (11.2) $ 32.2

Capitalized Internal Use Soft_2

Capitalized Internal Use Software (Tables)	3 Months Ended
	Mar. 31, 2022
Research and Development [Abstract]
Schedule of Capitalized Computer Software	March 31, December 31, (in millions) Capitalized internal use software $ 40.7 $ 34.5 Less: accumulated amortization (10.4) (8.6) Total capitalized internal use software $ 30.3 $ 25.9

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	March 31, December 31, (in millions) Prepaid expenses $ 26.1 $ 21.2 Claims receivable 25.0 24.4 Lease right-of-use assets 15.9 — Other 8.8 6.2 Total other assets $ 75.8 $ 51.8

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	March 31, December 31, (in millions) Claim payments outstanding $ 25.3 $ 23.2 Lease liability 16.6 — Advances from customers 13.7 8.7 Deferred revenue 10.8 11.2 Employee related accruals 8.1 8.5 Premium refund liability 6.1 4.8 Fiduciary liability 4.6 3.7 Accrued licenses and taxes 3.2 5.8 Warrant liability 3.1 4.3 Other 9.6 13.6 Total accrued expenses and other liabilities $ 101.1 $ 83.8

Loss and Loss Adjustment Expe_2

Loss and Loss Adjustment Expense Reserves (Tables)	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense	The reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses, net of reinsurance is summarized as follows for the three months ended March 31, (in millions): 2022 2021 Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of beginning of the period $ 260.8 $ 105.1 Reinsurance recoverables on unpaid losses (217.0) (92.1) Reserve for losses and LAE, net of reinsurance recoverables as of beginning of the period 43.8 13.0 Add: Incurred losses and LAE, net of reinsurance, related to: Current year 25.3 19.4 Prior years (2.8) (0.4) Total incurred 22.5 19.0 Deduct: Loss and LAE payments, net of reinsurance, related to: Current year 8.8 9.8 Prior year 10.4 4.4 Total paid 19.2 14.2 Reserve for losses and LAE, net of reinsurance recoverables at end of period 47.1 17.8 Add: Reinsurance recoverables on unpaid losses and LAE at end of period 235.3 150.1 Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of end of the period $ 282.4 $ 167.9

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
Effects of Reinsurance	The following tables reflect amounts affecting the consolidated statements of operations and comprehensive loss for ceded reinsurance as of and for the three months ended March 31, 2022, and 2021 (in millions). For the Three Months Ended March 31, 2022 2021 Written premiums Earned premiums Loss and LAE incurred Written premiums Earned premiums Loss and LAE incurred Direct $ 117.0 $ 120.1 $ 90.9 $ 95.1 $ 71.0 $ 142.1 Assumed 0.1 — 0.3 4.1 3.4 5.3 Gross 117.1 120.1 91.2 99.2 74.4 147.4 Ceded (116.5) (111.1) (68.7) (92.0) (65.6) (128.4) Net $ 0.6 $ 9.0 $ 22.5 $ 7.2 $ 8.8 $ 19.0

Geographical Breakdown of Gro_2

Geographical Breakdown of Gross Written Premium (Tables)	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
Gross Written Premium by Geographical Areas	Gross written premium by state is as follows (in millions): Three Months Ended March 31, 2022 2021 Amount % of GWP Amount % of GWP State Texas $ 33.9 28.9 % $ 33.0 33.3 % California 22.1 18.9 % 18.9 19.1 % Florida 6.8 5.8 % 5.8 5.8 % Georgia 6.1 5.2 % 4.1 4.1 % Illinois 3.5 3.0 % 3.1 3.1 % Colorado 3.2 2.7 % 2.5 2.5 % Missouri 3.0 2.6 % 2.4 2.4 % Arizona 3.1 2.6 % 2.4 2.4 % Ohio 2.6 2.2 % 2.0 2.0 % New Jersey 2.6 2.2 % 2.2 2.2 % Other 30.2 25.8 % 22.8 23.0 % Total $ 117.1 100 % $ 99.2 100 %

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease, Cost	The weighted average remaining lease term and the weighted average discount rate for operating leases as of March 31, 2022 were as follows: Weighted average remaining lease term 4.29 Weighted average discount rate 3.38 % The following table presents supplemental cash flow information about the Company’s operating leases (in millions): Three Months Ended March 31, 2022 Cash paid for amounts included in measurement of liabilities Operating cash flows from operating leases $ (1.0) Right-of-use assets obtained in exchange for new operating liabilities $ —
Lessee, Operating Lease, Liability, Maturity	Maturities of operating lease liabilities by fiscal year as of March 31, 2022 are as follows (in millions): Operating Leases 2022 (Remainder) $ 2.9 2023 3.9 2024 4.0 2025 3.7 2026 2.7 Thereafter — Total undiscounted lease payments 17.2 Less: Imputed interest (0.6) Present value of lease payments 16.6

Stockholders_ Deficit (Tables)

Stockholders’ Deficit (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Share-based Payment Arrangement, Option, Activity	The following table summarizes option activity under the plans: Options Outstanding Weighted-Average Remaining Aggregate Intrinsic Value Number of Shares Weighted Average Exercise Price Contract Term Outstanding as of December 31, 2021 47,538,926 $ 1.39 8.30 $ 84.8 Granted — — Exercised (1,753,435) 0.64 Cancelled/Expired (1,336,079) 1.23 Outstanding as of March 31, 2022 44,449,412 $ 1.35 8.04 $ 45.5 Vested and exercisable as of March 31, 2022 17,879,890 $ 0.94 7.72 $ 21.2
Schedule of Unvested Restricted Stock Units Roll Forward	Number of Shares Weighted Average Grant-Date Fair Value per Share Unvested and outstanding as of December 31, 2021 27,170,930 $ 3.91 Granted 3,808,702 1.98 Vested (1,409,457) 3.93 Canceled and forfeited (1,546,494) 3.86 Unvested and outstanding as of March 31, 2022 28,023,681 $ 3.65
Share-based Payment Arrangement, Expensed and Capitalized, Amount	Total stock-based compensation expense, classified in the accompanying consolidated statements of operations and comprehensive loss was as follows (in millions): Three Months Ended March 31, 2022 2021 Losses and loss adjustment expenses $ 0.7 $ 0.1 Insurance related expenses 1.3 0.1 Technology and development 5.2 0.4 Sales and marketing 2.4 1.0 General and administrative 3.8 0.9 Total stock-based compensation expense $ 13.4 $ 2.5

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Net loss per share attributable to common stockholders was computed as follows: Three Months Ended March 31, 2022 2021 Numerator: Net loss attributable to Hippo – basic and diluted (in millions) $ (67.6) $ (195.2) Denominator: Weighted-average shares used in computing net loss per share attributable to Hippo — basic and diluted 561,620,061 95,970,269 Net loss per share attributable to Hippo — basic and diluted $ (0.12) $ (2.03)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: March 31, 2022 2021 Convertible preferred stock (on an as if converted basis) — 305,887,443 Outstanding options 44,449,412 68,856,873 Warrants to purchase common shares 9,000,000 33,384,616 Warrants to purchase preferred shares — 17,344,906 Common stock subject to repurchase 4,251,406 12,003,660 RSU and PRSUs 29,792,100 — Convertible notes — 149,377,472 Total 87,492,918 586,854,969

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Jan. 01, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-02 [Member]
Lease liability	$ 0	$ 16.6
ROU assets	$ 0	$ 15.9
Cumulative Effect, Period of Adoption, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Lease liability			$ 17.4
ROU assets			16.7
Deferred rent			$ (0.7)

Investments - Fixed Maturities

Investments - Fixed Maturities Securities and Short-Term Investments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 89.5	$ 55.6
Unrealized Gains	0	0
Unrealized Losses	(3)	(0.7)
Fair Value	86.5	54.9
Fair Value	348.9	9.1
Amortized Cost	438.7	64.7
Unrealized Gains	0	0
Unrealized Losses	(3.3)	(0.7)
Total investments	435.4	64
U.S. government and agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	15.1	9.3
Unrealized Gains	0	0
Unrealized Losses	(0.2)	0
Fair Value	14.9	9.3
Amortized Cost	349.2	9.1
Unrealized Gains	0	0
Unrealized Losses	(0.3)	0
Fair Value	348.9	9.1
States, and other territories
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5.8	5.8
Unrealized Gains	0	0
Unrealized Losses	(0.4)	(0.1)
Fair Value	5.4	5.7
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	40.2	17.3
Unrealized Gains	0	0
Unrealized Losses	(1)	(0.2)
Fair Value	39.2	17.1
Foreign securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0.9	0.9
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	0.9	0.9
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10.9	10.8
Unrealized Gains	0	0
Unrealized Losses	(0.7)	(0.2)
Fair Value	10.2	10.6
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6.6	4.8
Unrealized Gains	0	0
Unrealized Losses	(0.4)	(0.1)
Fair Value	6.2	4.7
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10	6.7
Unrealized Gains	0	0
Unrealized Losses	(0.3)	(0.1)
Fair Value	$ 9.7	$ 6.6

Investments - Continuous Loss P

Investments - Continuous Loss Position (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	$ 397.3	$ 41.7
Less than 12 months, Gross Unrealized Losses	(1.2)	(0.7)
12 months or longer, Fair Value	31.2	0
12 months or longer, Gross Unrealized Losses	(2.1)	0
Total, Fair Value	428.5	41.7
Total, Gross Unrealized Losses	(3.3)	(0.7)
U.S. government and agencies
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	14.4
Less than 12 months, Gross Unrealized Losses	(0.2)
12 months or longer, Fair Value	0.5
12 months or longer, Gross Unrealized Losses	0
Total, Fair Value	14.9
Total, Gross Unrealized Losses	(0.2)
States, and other territories
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	0.5	5.2
Less than 12 months, Gross Unrealized Losses	0	(0.1)
12 months or longer, Fair Value	4.9	0
12 months or longer, Gross Unrealized Losses	(0.4)	0
Total, Fair Value	5.4	5.2
Total, Gross Unrealized Losses	(0.4)	(0.1)
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	25.9	15.9
Less than 12 months, Gross Unrealized Losses	(0.4)	(0.2)
12 months or longer, Fair Value	10.8	0
12 months or longer, Gross Unrealized Losses	(0.6)	0
Total, Fair Value	36.7	15.9
Total, Gross Unrealized Losses	(1)	(0.2)
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	3	10.5
Less than 12 months, Gross Unrealized Losses	(0.2)	(0.2)
12 months or longer, Fair Value	6.5	0
12 months or longer, Gross Unrealized Losses	(0.5)	0
Total, Fair Value	9.5	10.5
Total, Gross Unrealized Losses	(0.7)	(0.2)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	0	4.7
Less than 12 months, Gross Unrealized Losses	0	(0.1)
12 months or longer, Fair Value	4.3	0
12 months or longer, Gross Unrealized Losses	(0.4)	0
Total, Fair Value	4.3	4.7
Total, Gross Unrealized Losses	(0.4)	(0.1)
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	4.6	5.4
Less than 12 months, Gross Unrealized Losses	(0.1)	(0.1)
12 months or longer, Fair Value	4.2	0
12 months or longer, Gross Unrealized Losses	(0.2)	0
Total, Fair Value	8.8	5.4
Total, Gross Unrealized Losses	(0.3)	$ (0.1)
U.S. government and agencies
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	348.9
Less than 12 months, Gross Unrealized Losses	(0.3)
12 months or longer, Fair Value	0
12 months or longer, Gross Unrealized Losses	0
Total, Fair Value	348.9
Total, Gross Unrealized Losses	$ (0.3)

Investments - Contractual Matur

Investments - Contractual Maturity (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Amortized Cost
One year or less	$ 8.4
After one year through five years	46.8
After five years	6.8
Amortized Cost	89.5	$ 55.6
Fair Value
One year or less	8.3
After one year through five years	45.6
After five years	6.5
Fair Value	86.5	54.9
Residential mortgage-backed securities
Amortized Cost
Securities	10.9
Amortized Cost	10.9	10.8
Fair Value
Securities	10.2
Fair Value	10.2	10.6
Commercial mortgage-backed securities
Amortized Cost
Securities	6.6
Amortized Cost	6.6	4.8
Fair Value
Securities	6.2
Fair Value	6.2	4.7
Asset backed securities
Amortized Cost
Securities	10
Amortized Cost	10	6.7
Fair Value
Securities	9.7
Fair Value	$ 9.7	$ 6.6

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Fixed maturities income	$ 0.2	$ 0.1
Short-term investment income	0.2	0
Total gross investment income	0.4	0.1
Investment expenses	0	0
Net investment income	$ 0.4	$ 0.1

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Securities on deposit with state regulatory authorities	$ 9	$ 8.4

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 336.8	$ 775.6
Restricted cash	44.8	43.1
Total cash, cash equivalents, and restricted cash	381.6	818.7	$ 468.1	$ 492.4
Cash
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	141.4	219.2
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	161.4	556.4
Treasury bills
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	34	0
Fiduciary assets
Cash and Cash Equivalents [Line Items]
Restricted cash	26.7	25
Letters of credit and cash on deposit
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 18.1	$ 18.1

Fair Value Measurement - Assets

Fair Value Measurement - Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Financial assets:
Cash equivalents	$ 195.4	$ 556.4
Fixed maturities available-for-sale	86.5	54.9
Short-term investments	348.9	9.1
Total financial assets	630.8	620.4
Financial liabilities:
Contingent consideration liability	14.1	11.6
Total financial liabilities	17.2	15.9
Public warrants
Financial liabilities:
Warrants liabilities	1.6	2.2
Private placement warrants
Financial liabilities:
Warrants liabilities	1.5	2.1
U.S. government and agencies
Financial assets:
Fixed maturities available-for-sale	14.9	9.3
Short-term investments	348.9	9.1
States, and other territories
Financial assets:
Fixed maturities available-for-sale	5.4	5.7
Corporate securities
Financial assets:
Fixed maturities available-for-sale	39.2	17.1
Foreign securities
Financial assets:
Fixed maturities available-for-sale	0.9	0.9
Residential mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	10.2	10.6
Commercial mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	6.2	4.7
Asset backed securities
Financial assets:
Fixed maturities available-for-sale	9.7	6.6
Money market funds
Financial assets:
Cash equivalents	161.4	556.4
Treasury bills
Financial assets:
Cash equivalents	34
Level 1
Financial assets:
Cash equivalents	195.4	556.4
Fixed maturities available-for-sale	14.9	9.3
Total financial assets	559.2	565.7
Financial liabilities:
Contingent consideration liability	0	0
Total financial liabilities	1.6	2.2
Level 1 | Public warrants
Financial liabilities:
Warrants liabilities	1.6	2.2
Level 1 | Private placement warrants
Financial liabilities:
Warrants liabilities	0	0
Level 1 | U.S. government and agencies
Financial assets:
Fixed maturities available-for-sale	14.9	9.3
Short-term investments	348.9	0
Level 1 | States, and other territories
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Corporate securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Foreign securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Residential mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Commercial mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Asset backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 1 | Money market funds
Financial assets:
Cash equivalents	161.4	556.4
Level 1 | Treasury bills
Financial assets:
Cash equivalents	34
Level 2
Financial assets:
Cash equivalents	0	0
Fixed maturities available-for-sale	71.6	45.6
Total financial assets	71.6	54.7
Financial liabilities:
Contingent consideration liability	0	0
Total financial liabilities	1.5	2.1
Level 2 | Public warrants
Financial liabilities:
Warrants liabilities	0	0
Level 2 | Private placement warrants
Financial liabilities:
Warrants liabilities	1.5	2.1
Level 2 | U.S. government and agencies
Financial assets:
Fixed maturities available-for-sale	0	0
Short-term investments	0	9.1
Level 2 | States, and other territories
Financial assets:
Fixed maturities available-for-sale	5.4	5.7
Level 2 | Corporate securities
Financial assets:
Fixed maturities available-for-sale	39.2	17.1
Level 2 | Foreign securities
Financial assets:
Fixed maturities available-for-sale	0.9	0.9
Level 2 | Residential mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	10.2	10.6
Level 2 | Commercial mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	6.2	4.7
Level 2 | Asset backed securities
Financial assets:
Fixed maturities available-for-sale	9.7	6.6
Level 2 | Money market funds
Financial assets:
Cash equivalents	0	0
Level 2 | Treasury bills
Financial assets:
Cash equivalents	0
Level 3
Financial assets:
Cash equivalents	0	0
Fixed maturities available-for-sale	0	0
Total financial assets	0	0
Financial liabilities:
Contingent consideration liability	14.1	11.6
Total financial liabilities	14.1	11.6
Level 3 | Public warrants
Financial liabilities:
Warrants liabilities	0	0
Level 3 | Private placement warrants
Financial liabilities:
Warrants liabilities	0	0
Level 3 | U.S. government and agencies
Financial assets:
Fixed maturities available-for-sale	0	0
Short-term investments	0	0
Level 3 | States, and other territories
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Corporate securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Foreign securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Residential mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Commercial mortgage-backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Asset backed securities
Financial assets:
Fixed maturities available-for-sale	0	0
Level 3 | Money market funds
Financial assets:
Cash equivalents	0	$ 0
Level 3 | Treasury bills
Financial assets:
Cash equivalents	$ 0

Fair Value Measurement - Change

Fair Value Measurement - Changes in Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in fair value	$ (1.2)	$ 0
Preferred Stock Warrant
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability, beginning balance		22.9
Changes in fair value		97.1
Liability, ending balance		120
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability, beginning balance	11.6	12
Payments of contingent consideration	(0.7)	(0.7)
Changes in fair value	3.2	0.6
Liability, ending balance	$ 14.1	11.9
Embedded Derivative Liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability, beginning balance		113.3
Initial measurement of new derivative		2.8
Changes in fair value		39.3
Liability, ending balance		$ 155.4

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Aug. 02, 2021shares
Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible promissory notes, conversion period	3 months 18 days
Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible promissory notes, conversion period	2 years 10 months 24 days
Discount rate | Income approach
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible promissory notes, measurement input		0.10
Convertible Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of securities called by warrants or rights (in shares)			2,494,116
Common Stock
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of securities called by each warrants or rights (in shares)			17,344,906

Fair Value Measurement - Assump

Fair Value Measurement - Assumptions (Details)	Mar. 31, 2021$ / shares
Preferred Stock Warrant | Minimum
Temporary Equity [Line Items]
Expected term (in years)	1 year 7 months 6 days
Preferred Stock Warrant | Maximum
Temporary Equity [Line Items]
Expected term (in years)	6 years
Preferred Stock Warrant | Expected volatility | Minimum
Temporary Equity [Line Items]
Measurement input	0.290
Preferred Stock Warrant | Expected volatility | Maximum
Temporary Equity [Line Items]
Measurement input	0.438
Preferred Stock Warrant | Risk-free interest rate | Minimum
Temporary Equity [Line Items]
Measurement input	0.001
Preferred Stock Warrant | Risk-free interest rate | Maximum
Temporary Equity [Line Items]
Measurement input	0.012
Preferred Stock Warrant | Expected dividend yield
Temporary Equity [Line Items]
Measurement input	0
Preferred A-2 Stock | Fair value
Temporary Equity [Line Items]
Measurement input	59.10
Preferred A-2 Stock | Exercise price
Temporary Equity [Line Items]
Measurement input	1.57
Preferred C-1 Stock | Fair value
Temporary Equity [Line Items]
Measurement input	59.73
Preferred C-1 Stock | Exercise price
Temporary Equity [Line Items]
Measurement input	11.74

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (9.4)		$ (11.2)
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	39.7		43.4
Accumulated Amortization	(9.4)		(11.2)
Net Carrying Amount	30.3		32.2
Amortization expense related to intangible assets	1.9	$ 1.4
State licenses and domain name
Indefinite-lived Intangible Assets [Line Items]
Net Carrying Amount	$ 10.5		10.5
Agency and carrier relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life Remaining (in years)	6 years 8 months 12 days
Gross Carrying Amount	$ 13.5		13.5
Accumulated Amortization	(2.1)		(1.7)
Net Carrying Amount	11.4		11.8
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (2.1)		(1.7)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life Remaining (in years)	3 years
Gross Carrying Amount	$ 13.7		13.7
Accumulated Amortization	(6.6)		(6)
Net Carrying Amount	7.1		7.7
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	(6.6)		(6)
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0		3.6
Accumulated Amortization	0		(2.7)
Net Carrying Amount	0		0.9
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	0		(2.7)
VOBA
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0		0.1
Accumulated Amortization	0		(0.1)
Net Carrying Amount	0		0
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ 0		(0.1)
Other
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life Remaining (in years)	6 years 6 months
Gross Carrying Amount	$ 2		2
Accumulated Amortization	(0.7)		(0.7)
Net Carrying Amount	1.3		1.3
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (0.7)		$ (0.7)

Capitalized Internal Use Soft_3

Capitalized Internal Use Software (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Research and Development [Abstract]
Capitalized internal use software	$ 40.7		$ 34.5
Less: accumulated amortization	(10.4)		(8.6)
Total capitalized internal use software	30.3		$ 25.9
Amortization expense	$ 1.8	$ 1

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expense	$ 26.1	$ 21.2
Claims receivable	25	24.4
Lease right-of-use assets	$ 15.9	$ 0
Lease right-of-use assets [Extensible Enumeration]	Total other assets	Total other assets
Other	$ 8.8	$ 6.2
Total other assets	$ 75.8	$ 51.8

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Claim payments outstanding	$ 25.3	$ 23.2
Lease liability	$ 16.6	$ 0
Lease liability [Extensible Enumeration]	Total accrued expenses and other liabilities	Total accrued expenses and other liabilities
Advances from customers	$ 13.7	$ 8.7
Deferred revenue	10.8	11.2
Employee related accruals	8.1	8.5
Premium refund liability	6.1	4.8
Fiduciary liability	4.6	3.7
Accrued licenses and taxes	3.2	5.8
Warrant liability	3.1	4.3
Other	9.6	13.6
Total accrued expenses and other liabilities	$ 101.1	$ 83.8

Loss and Loss Adjustment Expe_3

Loss and Loss Adjustment Expense Reserves (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of beginning of the period	$ 260.8	$ 105.1
Reinsurance recoverables on unpaid losses	(217)	(92.1)
Reserve for losses and LAE, net of reinsurance recoverables as of beginning of the period	43.8	13
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year	25.3	19.4
Prior years	(2.8)	(0.4)
Total incurred	22.5	19
Deduct: Loss and LAE payments, net of reinsurance, related to:
Current year	8.8	9.8
Prior year	10.4	4.4
Total paid	19.2	14.2
Reserve for losses and LAE, net of reinsurance recoverables at end of period	47.1	17.8
Add: Reinsurance recoverables on unpaid losses and LAE at end of period	235.3	150.1
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of end of the period	282.4	$ 167.9
Attritional reserves release	2.1
Catastrophe reserves release	$ 0.7

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)reinsurer	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Effects of Reinsurance [Line Items]
Loss on uncollectible accounts in period	$ 0	$ 0
Provision for sliding scale commission	9,200,000		$ 8,600,000
Receivable for sliding scale commission	3,100,000		2,700,000
Provision for loss participation feature	$ 16,400,000		8,300,000
Term-based agreement
Effects of Reinsurance [Line Items]
Number of third-party reinsures | reinsurer	2
Percentage attributable to program	33.00%
Agreement term	3 years
Reinsured risk, percentage	10.00%
Excess of Loss
Effects of Reinsurance [Line Items]
Excess retention, year return period, ratio	0.004
Excess of Loss | Maximum
Effects of Reinsurance [Line Items]
Excess retention, percentage	0.40%
Per-risk Reinsurance | Minimum
Effects of Reinsurance [Line Items]
Excess retention, amount			$ 500,000
Proportional and Excess of Loss | Maximum
Effects of Reinsurance [Line Items]
Ceded risk, percentage	100.00%
Proportional and Excess of Loss | Minimum
Effects of Reinsurance [Line Items]
Ceded risk, percentage	75.00%

Reinsurance - Ceded Reinsurance

Reinsurance - Ceded Reinsurance (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Written premiums
Direct	$ 117	$ 95.1
Assumed	0.1	4.1
Gross	117.1	99.2
Ceded	(116.5)	(92)
Net	0.6	7.2
Earned premiums
Direct	120.1	71
Assumed	0	3.4
Gross	120.1	74.4
Ceded	(111.1)	(65.6)
Net	9	8.8
Loss and LAE incurred
Direct	90.9	142.1
Assumed	0.3	5.3
Gross	91.2	147.4
Ceded	(68.7)	(128.4)
Net	$ 22.5	$ 19

Geographical Breakdown of Gro_3

Geographical Breakdown of Gross Written Premium (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Gross Written Premium [Line Items]
Amount	$ 117.1	$ 99.2
Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	100.00%	100.00%
Texas
Gross Written Premium [Line Items]
Amount	$ 33.9	$ 33
Texas | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	28.90%	33.30%
California
Gross Written Premium [Line Items]
Amount	$ 22.1	$ 18.9
California | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	18.90%	19.10%
Florida
Gross Written Premium [Line Items]
Amount	$ 6.8	$ 5.8
Florida | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	5.80%	5.80%
Georgia
Gross Written Premium [Line Items]
Amount	$ 6.1	$ 4.1
Georgia | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	5.20%	4.10%
Illinois
Gross Written Premium [Line Items]
Amount	$ 3.5	$ 3.1
Illinois | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	3.00%	3.10%
Colorado
Gross Written Premium [Line Items]
Amount	$ 3.2	$ 2.5
Colorado | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.70%	2.50%
Missouri
Gross Written Premium [Line Items]
Amount	$ 3	$ 2.4
Missouri | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.60%	2.40%
Arizona
Gross Written Premium [Line Items]
Amount	$ 3.1	$ 2.4
Arizona | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.60%	2.40%
Ohio
Gross Written Premium [Line Items]
Amount	$ 2.6	$ 2
Ohio | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.20%	2.00%
New Jersey
Gross Written Premium [Line Items]
Amount	$ 2.6	$ 2.2
New Jersey | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	2.20%	2.20%
Other
Gross Written Premium [Line Items]
Amount	$ 30.2	$ 22.8
Other | Geographic Concentration Risk | Gross written premium
Gross Written Premium [Line Items]
Concentration risk, percentage	25.80%	23.00%

Commitment and Contingencies (D

Commitment and Contingencies (Details) - Pending Litigation	Nov. 19, 2021cause
Litigation, Hippo and Chief Executive Officer Named Defendants
Loss Contingencies [Line Items]
Loss contingency, pending causes of action, number	6
Litigation, Hippo Named Defendant Only
Loss Contingencies [Line Items]
Loss contingency, pending causes of action, number	2

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Lessee, operating lease, renewal term	5 years
Operating lease, expense	$ 1
Operating lease, rent expense		$ 0.7
Lessee, operating lease, lease not yet commenced, liability	$ 7.2

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Mar. 31, 2022
Leases [Abstract]
Weighted average remaining lease term	4 years 3 months 14 days
Weighted average discount rate	3.38%

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2022 (Remainder)	$ 2.9
2023	3.9
2024	4
2025	3.7
2026	2.7
Thereafter	0
Total undiscounted lease payments	17.2
Less: Imputed interest	(0.6)
Present value of lease payments	$ 16.6	$ 0

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ (1)
Right-of-use assets obtained in exchange for new operating liabilities	$ 0

Stockholders_ Equity - Narrativ

Stockholders’ Equity - Narrative (Details) - USD ($)	Aug. 02, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000		2,000,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001		$ 0.0001
Aggregate intrinsic value of options exercised		$ 2,500,000	$ 34,300,000
Exercises in period, forgiveness (in shares)	9,400,000
Exercises in period, forgiveness, intrinsic value	$ 94,000,000
Incremental stock option charge, number of shares subject to repurchase (in shares)		2,362,894
Early exercise of stock options liability for unvested awards		$ 2,000,000		$ 2,200,000
Number of shares subject to repurchase related to early exercise of stock option (in shares)		1,888,525		2,060,221
Share-based compensation expense		$ 13,400,000	$ 2,500,000
the 2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent		100.00%
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	78,000,000
Percentage of issued and outstanding stock, maximum		5.00%
2021 Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		2 years
2021 Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 25,200,000
Unrecognized compensation cost, period for recognition		2 years 2 months 12 days
Options | the 2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term period		10 years
Vesting period		4 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 90,900,000
Unrecognized compensation cost, period for recognition		3 years 1 month 6 days
Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		2 years
Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Restricted Stock Units | the 2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		18 months
Unrecognized compensation cost		$ 3,900,000
Unrecognized compensation cost, period for recognition		6 months
Share-based compensation expense		$ 2,300,000
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent		85.00%
Number of shares authorized for issuance (in shares)		13,000,000
Percentage of issued and outstanding stock, maximum		1.00%
Maximum employee subscription amount		$ 25,000
Look back feature		6 months
Issued (in shares)		0

Stockholders_ Equity - Stock Op

Stockholders’ Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Options Outstanding
Outstanding, beginning balance (in shares)	47,538,926
Granted (in shares)	0
Exercised (in shares)	(1,753,435)
Cancelled/Expired (in shares)	(1,336,079)
Outstanding, ending balance (in shares)	44,449,412	47,538,926
Vested and exercisable (in shares)	17,879,890
Weighted Average Exercise Price
Outstanding, beginning balance (in dollar per share)	$ 1.39
Granted (in dollars per share)	0
Exercised (in dollars per share)	0.64
Cancelled/Expired (in dollars per share)	1.23
Outstanding, ending balance (in dollar per share)	1.35	$ 1.39
Vested and exercisable (in dollars per share)	$ 0.94
Additional Disclosures
Outstanding, weighted-average remaining, contract term (in years)	8 years 14 days	8 years 3 months 18 days
Outstanding, aggregate intrinsic value	$ 45.5	$ 84.8
Vested and exercisable, weighted-average remaining, contract term (in years)	7 years 8 months 19 days
Vested and exercisable, aggregate intrinsic value	$ 21.2

Stockholders_ Equity - Restrict

Stockholders’ Equity - Restricted Stock Units Activity (Details) - RSUs	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of Shares
Unvested and outstanding, beginning balance (in shares) | shares	27,170,930
Granted (in shares) | shares	3,808,702
Vested (in shares) | shares	(1,409,457)
Canceled and forfeited (in shares) | shares	(1,546,494)
Unvested and outstanding, ending balance (in shares) | shares	28,023,681
Weighted Average Grant-Date Fair Value per Share
Unvested and outstanding, beginning balance (in dollars per share) | $ / shares	$ 3.91
Granted (in dollars per share) | $ / shares	1.98
Vested (in dollars per share) | $ / shares	3.93
Canceled and forfeited (in dollars per share) | $ / shares	3.86
Unvested and outstanding, ending balance (in dollars per share) | $ / shares	$ 3.65

Stockholders_ Equity - Share-ba

Stockholders’ Equity - Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 13.4	$ 2.5
Losses and loss adjustment expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0.7	0.1
Insurance related expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1.3	0.1
Technology and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	5.2	0.4
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2.4	1
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3.8	$ 0.9

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	(0.30%)	(0.10%)
Unrecognized tax benefits	$ 1,100,000	$ 0
Income tax interest or penalties incurred	$ 0	$ 0

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Computation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net loss attributable to Hippo - basic	$ (67.6)	$ (195.2)
Net loss attributable to Hippo - diluted	$ (67.6)	$ (195.2)
Weighted-average shares used in computing net loss per share attributable to Hippo - basic (in shares)	561,620,061	95,970,269
Weighted-average shares used in computing net loss per share attributable to Hippo - diluted (in shares)	561,620,061	95,970,269
Net loss per share attributable to Hippo - basic (in dollars per share)	$ (0.12)	$ (2.03)
Net loss per share attributable to Hippo - diluted (in dollars per share)	$ (0.12)	$ (2.03)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Antidilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	87,492,918	586,854,969
Convertible preferred stock (on an as if converted basis)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	305,887,443
Outstanding options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	44,449,412	68,856,873
Warrants to purchase common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	9,000,000	33,384,616
Warrants to purchase preferred shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	17,344,906
Common stock subject to repurchase
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4,251,406	12,003,660
RSU and PRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	29,792,100	0
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	149,377,472