Categorially a higher inductive type in an extensional type theory is an initial algebra of an endofunctor. In intensional type theory this analogy fails.
In particular -types in an extensional type theory correspond to initial algebras of polynomial functors. Also this is not true for intensional type theories.
This failure can be (at least for -types and some more general cases) remedied by replacing “initial” by “homotopy initial”. This is the main result (to be found in §2) of