TAMPA, Fla., June 06, 2016 (GLOBE NEWSWIRE) — HCI Group, Inc. (NYSE:HCI), a holding company primarily engaged in homeowners insurance, with additional operations in reinsurance, real estate and information technology, has appointed insurance industry veteran Ted Blanch as president of TypTap Insurance Company, HCI’s new online insurance company.
Blanch brings years of industry experience to TypTap, which bills itself as “not your typical insurance company.” The TypTap.com online platform provides “a quote in seconds; a policy in minutes” and currently offers residential flood insurance in Florida.
“Ted brings well over 45 years of comprehensive executive leadership to our recently established TypTap Insurance Company,” said Paresh Patel, HCI Group’s chairman and chief executive officer. “His extensive experience, deep industry knowledge, and strong relationships throughout the country provide an unparalleled resource for TypTap.”
As president, Blanch will oversee the development and growth of TypTap. His responsibilities include driving sales, establishing reinsurance partnerships and overseeing the strategic direction and expansion of the company.
“The launch of TypTap.com is another example of HCI Group’s innovation and leadership within the insurance industry,” commented Blanch. “TypTap’s robust platform provides a quick and simple way to buy insurance from any Internet connected device – it is unlike any other in the industry. I look forward to establishing TypTap as the leading alternative to the National Flood Insurance Program in Florida and exploring its additional potential applications well beyond its current territory and product markets.”
Patel added, “Since the March launch of TypTap.com, we have been encouraged with the level of traffic on the website and we are beginning to see numerous flood insurance policies sold through the platform.”
About Ted Blanch
Most recently, Blanch was a partner with Advocate Reinsurance Partners, a premier intermediary services firm. Prior to that, he founded and ran Ted Blanch & Associates, an insurance and reinsurance consulting firm providing professional analysis, expert witness and arbitration services, reinsurance portfolio analysis, and executive management consulting.
Prior to that Blanch was with E.W. Blanch Co., a reinsurance brokerage firm, serving as chief executive officer from 1977 to 2001. E.W. Blanch Co. became the third largest international reinsurance broker and the world’s largest independent reinsurance broker.
In 2000 Blanch received the Review Worldwide Reinsurance Lifetime Achievement Award and was a finalist for the 1996 Ernst & Young Entrepreneur of the Year award.
TypTap Insurance Company is a Florida-based property insurance company and a wholly owned subsidiary of HCI Group, Inc. For more information on TypTap, please visit www.typtap.com.
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners insurance, reinsurance, real estate and information technology. The company’s largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.
The company’s common shares trade on the New York Stock Exchange under the ticker symbol “HCI” and are included in the Russell 2000 and S&P SmallCap 600 Index. Its 8% Senior Notes trade on the New York Stock Exchange under the ticker symbol “HCJ.” For more information about HCI Group, visit www.hcigroup.com.
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “confident,” “prospects” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. There can be no assurance, for example, that the addition of new employees will better position the Company to grow their business. Some of these risks and uncertainties are identified in the company’s filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company’s business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.