Flood of business: Insurer reaches $50M in premiums, sets sights on $100M

Tech-savvy TypTap achieved the milestone after just three years in business.

  • By Business Observer Staff
  • | 6:00 a.m. December 20, 2019
  • | 0 Free Articles Remaining!
File. TypTap CEO Paresh Patel, left, and President Kevin Mitchell have led the insurance firm to its goal of $50 million in premiums.
File. TypTap CEO Paresh Patel, left, and President Kevin Mitchell have led the insurance firm to its goal of $50 million in premiums.
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TypTap, a subsidiary of Tampa-based HCI Group (NYSE: HCI) that specializes in flood insurance, has achieved its goal of $50 million in premiums.

It’s an impressive surge for the tech-driven company, with a data-centric business model — made possible by HCI’s software subsidiary, Exzeo USA Inc. — that provides flood insurance quotes in as little as two minutes.

 

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