TypTap, which describes itself as a technology-driven homeowners’ insurance company in Florida, is moving ahead with plans to raise $100 million for an initial public stock offering.
The Tampa-based company, a subsidiary of publicly traded HCI Group, said it had filed its plans with the U.S. Securities and Exchange Commission, and has embarked on a national growth strategy, according to a news release.
TypTap said it uses artificial intelligence to analyze risk and to price homeowners’ insurance. It now operates in seven states. Its in-force premiums exceeded $214 million by September 2021, and its gross loss ratios were below 50% in 2018-2020.
The company was founded in 2016 and booked $95 million in revenue for the 12 months ended Sept. 30, 2021. It plans to list on the NYSE under the symbol TYTP.
Was this article valuable?
Here are more articles you may enjoy.
Online Insurance Marketplace Insurify Blocks Meta’s Personal AI Agent Muse 
Claims Against NYC Rental Buildings Nearly Doubled Since 2021: Milford Street 
Florida OIR Approves Four More HO Rate Cuts as Citizens Keeps Shrinking 
Independent Agencies Total About 37,000 in 2026, a Decrease From 2024 
