HCI Group Launches InsurTech Platform for Homeowners’ Insurance

TAMPA, Fla., April 25, 2018 (GLOBE NEWSWIRE) — HCI Group, Inc. (NYSE:HCI) announced today that its wholly owned insurance subsidiary, TypTap Insurance Company, has extended its proprietary online quoting and binding platform to include homeowners’ insurance. Previously, the platform was limited to offering TypTap’s flood insurance product. 

“Over the past two years TypTap’s InsurTech platform has made TypTap the fastest growing admitted flood insurer in the state of Florida,” said Paresh Patel, HCI’s chairman and chief executive officer. “We plan to leverage the same technology for our homeowners’ insurance offering. This platform uses a process we call ‘positive underwriting’ to streamline the underwriting and sales process. Our initial plan is to launch TypTap’s homeowners’ insurance offering, TypTap Home®, in Florida.”

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