TypTap Insurance Company, a rapidly growing, technology-driven insurance company and a wholly owned subsidiary of HCI Group, Inc. (NYSE: HCI), announced today that annual recurring revenue surpassed $100 million.
TypTap provides homeowners insurance and flood insurance primarily in Florida. It uses proprietary technologies and data analytics to make quick and smart underwriting decisions and reduce risks. Most of its insurance services are sold through independent insurance agents.
“The growing acceptance of our products and technology platform has enabled TypTap to reach this major milestone ahead of schedule,” said TypTap President Kevin Mitchell.