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Mitsui Sumitomo Insurance to invest $350m in US startup Hippo

Japanese provider embraces AI to predict and mitigate disaster damage

A home in Louisiana damaged by Hurricane Delta: Hippo uses artificial intelligence to prevent or minimize problems, reducing insurance damages.   © Reuters

TOKYO -- Mitsui Sumitomo Insurance will invest $350 million in U.S. home insurance technology company Hippo, looking to tap the "insurtech" startup's expertise in artificial intelligence to help policyholders minimize damages from fires and other disasters.

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