TypTap Receives Approval to Write Homeowners Insurance in Massachusetts as Part of Company’s Nationwide Expansion Plan
May 21 2021 - 8:00AM
TypTap Insurance Group, Inc.
(TypTap), a rapidly growing, technology-driven
insurance company and a subsidiary of HCI Group, Inc. (NYSE: HCI),
has received regulatory approval to write homeowners insurance in
Massachusetts.
The approval is part of TypTap’s planned nationwide expansion
announced in August of 2020. TypTap has received approvals in 13
states outside of Florida.
About TypTap Insurance Group, Inc.Funded by HCI
Group, Inc. (NYSE:HCI), TypTap was founded in 2016 with the mission
of utilizing technology, data, and data analytics to simplify the
insurance experience. TypTap is a rapidly growing,
technology-driven insurance company that provides homeowners and
flood insurance in Florida with plans to expand its operations
nationwide. TypTap uses its innovative, proprietary, online
platform to quote and bind policies quickly and efficiently. It
also has powerful algorithms, enabled by artificial intelligence,
designed to identify policies that deliver profitable results while
mitigating risk.
HCI Group, Inc. is an InsurTech company with operations in
insurance, software development and real estate. HCI’s leading
insurance operation, TypTap Insurance Company, is a rapidly
growing, technology-driven insurance company that is expanding
nationwide to provide homeowners and flood insurance. TypTap’s
operations are powered in large part by insurance-related
information technology developed by HCI’s software subsidiary,
Exzeo USA, Inc. HCI’s largest subsidiary, Homeowners Choice
Property & Casualty Insurance Company, Inc., provides
homeowners’ insurance primarily in Florida. HCI’s real estate
subsidiary, Greenleaf Capital, LLC, owns and operates multiple
properties in Florida, including office buildings, retail centers
and marinas.
The company's common shares trade on the New York Stock Exchange
under the ticker symbol "HCI" and are included in the Russell 2000
and 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.
TypTap Company Contact:Kevin Mitchell,
PresidentTypTap Insurance CompanyTel (813)
405-3603kmitchell@typtap.com
TypTap Media Contact:Jordan Schmidt, Managing
DirectorGateway GroupTel (949) 386-6332TypTap@gatewayir.com
HCI Company Contact:Rachel Swansiger, Esq. HCI
Group, Inc.Tel (813) 405-3206rswansiger@hcigroup.com
HCI Investor Relations Contact:Matt
GloverGateway GroupTel (949) 574-3860HCI@gatewayir.com
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