Japan Earthquake Disrupts Auto and Chip Supply Chains 
Tesla Weighs China Business Separation Amid SpaceX Merger Speculation 
Novo Nordisk Eyes Turnaround as Oral Wegovy Challenges Eli Lilly in Weight-Loss Drug Race 
Alibaba Stock Jumps as Qwen 3.8-MAX AI Model Intensifies China's AI Race 
Robinhood Q2 Earnings Beat Estimates, But HOOD Stock Falls as Investors Question Profit Quality 
WestJet Cancels 86 Flights as CUPE Strike Threat Disrupts Travel 
Roblox Stock Drops 16% as Q3 Bookings Forecast Misses Expectations 
Warner Bros. Discovery Shares Rise as Newsom Pushes Settlement in $110 Billion Merger Fight 
Capital One Says AML Review Led to Closure of Trump Organization Accounts 
Anthropic Reveals Claude AI Accessed Real Production Systems During Cybersecurity Tests 
Amazon Q2 Earnings Beat Estimates as AWS AI Growth Surges, But Q3 Revenue Forecast Disappoints 
Toyota First-Half Global Sales and Production Decline on Weak China Demand, RAV4 Transition 
World game at war: why some European nations have threatened a World Cup boycott 
Meta Cuts Wipro Outsourcing by 25% After AI-Led Restructuring 
Chery Invests $75 Million in KG Mobility to Expand Global Automotive Partnership 
Prysmian Nears Deal to Acquire Atkore in Potential All-Cash Takeover 
Apple Stock Slides 7% as Weak Sales Forecast Overshadows Quarterly Earnings Beat 
TAMPA, Fla., April 12, 2018 -- HCI Group, Inc. (NYSE:HCI) announced today that TypTap Insurance Company, HCI’s technology focused insurance subsidiary, has surpassed $10 million in gross written premiums.
TypTap, which provides residential flood insurance in Florida, features HCI’s internally developed, online quoting and binding platform. Accessible from any internet capable device, the platform provides a quote in seconds, and a bound policy in minutes. It uses a process the company calls “positive underwriting” to streamline the underwriting and sales process. Positive underwriting also enables the company to target its marketing efforts.
“In a short period of time TypTap has established itself as a leading alternative to the Federal government’s National Flood Insurance Program,” said Paresh Patel, HCI’s chairman and chief executive officer. “TypTap’s growing success demonstrates the efficacy and power of our InsurTech platform which we expect will be an important driver of future growth. We are working now to expand the platform beyond flood insurance to include homeowners insurance and other insurance products,” he said.
HCI has previously announced its intention to expand into additional states, including Arkansas, California, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, and Texas.
HCI’s InsurTech is developed internally by its Exzeo technology division.
For more information on TypTap, please visit www.typtap.com.
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners’ insurance, reinsurance, real estate and information technology services. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.
The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 Index and the S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.
Company Contact:
Kevin Mitchell, Vice President of Investor Relations
HCI Group, Inc.
Tel (813) 405-3603
[email protected]
Investor Relations Contact:
Matt Glover or Najim Mostamand, CFA
Liolios Group, Inc.
Tel (949) 574-3860
[email protected]
