Many modern automotive and aerospace components are heat-formed at temperatures up to 900 °C. Due to the high tool temperature, insulations are employed to reduce the heat loss and the energy consumption of the process. However, current insulation materials for the force flow of these processes still require active counter-cooling. In this study, the performance of a novel hybrid structure with improved insulation capability for such applications was investigated. It consisted of an outer frame made of an oxide fiber composite (OFC) and a paper-based ceramic (PBC) as a filler. The mechanical and thermal properties for both materials were determined and implemented in a finite element model (FEM) to numerically design the layout of a hybrid structure. Experimental load tests in process-oriented conditions validated the simulation results. The hybrid insulation appears promising, as mechanical stability and good insulation capabilities were confirmed.