Profile: HCI Group Inc (HCIIP.PK)
HCI Group, Inc. (HCI), incorporated on November 30, 2006, is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance. Its Other Operations include information technology (IT) and real estate.
The Company, through its subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc. (HCPCI), provides property and casualty insurance to homeowners, condominium owners and tenants on properties located in Florida. HCPCI also offers flood-endorsed and wind-only policies to new and pre-existing Florida customers. HCPCI's operations are supported by HCI, as well as the subsidiaries of HCI, including Homeowners Choice Managers, Inc., Southern Administration, Inc. and Claddaugh Casualty Insurance Company Ltd. Homeowners Choice Managers, Inc. acts as managing general agent and provides marketing, underwriting, claims settlement, accounting and financial services to HCPCI. Southern Administration, Inc., provides policy administration services to HCPCI. Claddaugh Casualty Insurance Company Ltd. provides reinsurance to HCPCI.
The Company's real estate operations consist of multiple properties it owns and operates. Its real estate operations consist of its building in Tampa, Florida, and its secondary insurance operations site in Ocala, Florida. As of December 31, 2016, its investment properties consisted of a combined 24 acres of waterfront property, land and land improvements that included one full-service restaurant and two marinas, as well as two acquired retail shopping centers. It also has one real estate development project.
Information technology operations include software developers, engaged in designing and creating Web-based applications and products for mobile devices. The operations, which are located in Tampa, Florida and Noida, India, are focused on developing cloud-based products and services that support in-house operations, as well as its third party relationships with agency partners and claim vendors. Its Proplet is an online platform for quoting homeowners policies for HCPCI. This platform offers a map based solution for quoting. Its TypTap is an online platform for quoting and binding residential flood policies for its subsidiary, TypTap Insurance Company. Its SAMS is an online platform for supporting back-office policy and claims management for both of its insurance subsidiaries, HCPCI and TypTap Insurance Company. The technologies developed in-house for its own insurance operations include Exzeo, Atlas Viewer and CasaClue. Exzeo is a cloud-based application available at Exzeo.com which provides a customizable environment to support automation and process management. Atlas Viewer is an interactive cloud-based data mapping and visualization application. CasaClue is a database containing residential property data points important to underwriting residential flood insurance.
HCI Group Inc
5300 W Cypress St Ste 100
TAMPA FL 33607-1712
Company Web Links
- BRIEF-HCI Group says James Mark Harmsworth appointed CFO
- BRIEF-HCI Group Q1 earnings per share $1.15
- BRIEF-HCI group to redeem 8% senior notes due 2020
- BRIEF-HCI Group announces pricing of $125 million offering of convertible senior notes due 2037
- BRIEF-HCI Group announces proposed $115 mln offering of convertible senior notes due 2037