Hugo Insurance Exchange prepares Kentucky launch

Hugo Insurance has filed trademark applications for “Hugo Exchange” and “HEX,” both covering software, advertising, and car insurance services. While the HEX mark dates back to first commercial use in 2017, Hugo Insurance Exchange itself is a newer entrant—founded in 2024 as a reciprocal insurance exchange managed by Hugo Insurance Services LLC.

Hugo Insurance Exchange is currently live in three states and preparing to enter a fourth.

In Mississippi, the company launched in October 2024, had 178 policyholders and $238,166 in premium by March 2025, and recently filed for a 14% rate decrease.

In Arkansas, the company began operations in February 2025, reached 65 policyholders and $87,374 in premium by May 2025, and recently filed for a 16.8% rate decrease.

In Louisiana, Hugo launched in January 2025, reached 39 policyholders and $96,103 in premium by May 2025, and recently filed for a 13.6% rate decrease.

Next, Hugo is set to launch in Kentucky in September 2025.

Separate from the Exchange, the insurance agency is appointed with First Acceptance Insurance Company, Inc., Foremost County Mutual Insurance Company, and Old American County Mutual Fire Insurance Company.

Hugo competes with pay-per-mile startup Just Insure , which operates in Arizona with over 2,700 policyholders and nearly $9 million in premium, and recently expanded to Nevada. The company raised $1.2 million in debt this summer.