Premium growth at TypTap Insurance Company propelled by homegrown technology.
TAMPA, Fla. (Nov. 20, 2019) – HCI Group, Inc. (NYSE: HCI) announced today that premiums in force at its technology-driven insurance subsidiary, TypTap Insurance Company, have surpassed $50 million.
During HCI’s 2019 second-quarter earnings call, HCI Chief Executive Paresh Patel projected that TypTap would have over $50 million of premiums in force by year-end. Patel updated that guidance in the company’s third-quarter earnings call, predicting TypTap would reach that level before Thanksgiving.
“Gross written premiums at TypTap have grown more than four-fold since the third quarter of 2018. This rapid growth is organic and, most important, profitable. We’re not sacrificing margins for the sake of growth.”
Paresh Patel, Chairman & CEO – HCI
TypTap’s operations are powered in large part by insurance-related information technology developed by HCI’s a software subsidiary, Exzeo USA, Inc.