The HCI Group, Inc. has announced that it has commenced the regulatory process to expand its flood insurance operations towards Arkansas, California, Maryland, North California, New Jersey, Ohio, Pennsylvania, South Carolina, and Texas. At present, the company provides its services in Florida.
“A core part of our long-term strategic plan has been – and continues to be – expanding and diversifying our operations geographically,” Paresh Patel, chairman and chief executive officer, HCI Group, said in an article published on Nasdaq’s website. “We believe expansion into additional markets will leverage our proven business model, as well as our internally developed technology.
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“Our online platform for quoting and binding flood insurance policies – accessible from any internet capable device, including a mobile phone – provides a quote in seconds, a policy in minutes. We are changing the way people buy insurance.”
HCI Group, Inc. owns subsidiaries engaged in diverse and complementary business activities such as homeowners’ insurance, reinsurance, real estate, and information technology services, and Homeowners Choice Property & Casualty Insurance Company, Inc., the company’s largest subsidiary, is one of Florida’s leading providers of property and casualty insurance.
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