TypTap Insurance Group Inc.

General Information

(Note: TypTap Insurance Group Inc.  withdrew its IPO plans in an SEC filing dated April 10, 2023. The S-1 was filed Nov. 8, 2021.)

TypTap Insurance is a homeowners’ insurance company. It is being spun off by HCI Group. (Incorporated in Florida) 

TypTap is a rapidly growing technology-driven insurance company that leverages extensive data and AI-enabled analytics to better select and price homeowners insurance risk. We have a successful track record of profitable underwriting, with loss ratios better than the overall homeowners industry average, and offer our insurance agents a frictionless full-stack digital technology platform that provides policyholders with a better purchase and claims experience. We achieve this through a comprehensive suite of technology solutions to manage the end-to-end insurance process, from risk selection and underwriting to accelerated quoting to claims management.

The $110 billion U.S. homeowners insurance market is a large market with attractive industry dynamics and a strong growth outlook. We believe it is also a good candidate for technology-driven innovation. For decades, the insurance industry has underinvested in technology and is thus dependent on inefficient legacy systems. This has led to mispriced risk and high loss ratios, low policyholder satisfaction scores, and a frustrating agent experience. While many companies have attempted to take a more tech-forward approach to insurance in recent years, they typically lack sustainable unit economics and fail to address the biggest inefficiency in the industry—high claims costs, that comprise, on average, 73% of total costs for an insurance carrier.

**Note: Net loss and revenue figures are for the 12 months that ended Sept. 30, 2021.

Industry: Insurance
Employees: 276
Founded: 2016
Contact Information
Address 5300 West Cypress Street, Suite 100 Tampa, Florida 33607
Phone Number 1-844-289-7968
Web Address http://www.typtap.com/
View Prospectus: TypTap Insurance Group Inc.
Financial Information
Market Cap
Revenues $94.98 mil (last 12 months)
Net Income $-19.58 mil (last 12 months)
IPO Profile
Symbol TYTP
Exchange NYSE
Shares (millions): 0.0
Price range $0.00 - $0.00
Est. $ Volume $100.0 mil
Manager / Joint Managers JMP Securities/ Truist Securities/ Oppenheimer & Co.
CO-Managers Dowling and Partners Securities, LLC/ Fifth Third Securities/ TigerRisk Capital Markets & Advisory
Expected To Trade:
Status: Withdrawn
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change