Neptune Flood surpasses $100bn of insured value

Florida domiciled Neptune Flood, a private flood insurance provider, has surpassed $300 million in premium in force, over 235,000 policyholders, and over $100 billion of insured value.

These milestones underscores the firm’s commitment to the private flood insurance market, driven by cutting-edge technology, data-driven underwriting, and protecting homeowners and businesses from flood risks.

Launched in 2018, the company has the most policies in Florida, with over $250 million paid in claims so far. It serves across 49 states and Washington, D.C., with plans to launch in Alaska soon.

Neptune Flood offers primary and excess private flood insurance, parametric earthquake insurance through its 25 re/insurance partners.

South Carolina has the most policies per capita, while Harris County in Texas contributes the most policies, confirmed Neptune.

The company credits its strong growth to its proprietary AI and machine learning-driven platform, which streamlines the flood insurance process, provides instant quotes and coverage compared to traditional offerings.

As flood risks continue to rise due to climate change and increased development in flood-prone areas, Neptune continues its commitment to offering flood protection. The company has also confirmed that Hurricane Helene in 2024 has resulted in most claims so far.

Trevor Burgess, Chief Executive Officer, Neptune Flood, commented, “Reaching $300 million in premium in force is a testament to our mission of making flood insurance accessible, affordable, and easy to obtain. Our proprietary machine learning models allow us to better assess risk, price policies more accurately, and ultimately provide a superior experience for our customers.

“But this milestone is also a reflection of something bigger – Neptune’s growth demonstrates the scale and strength of the private flood insurance market, which is ready to step in and grow significantly. As the National Flood Insurance Program faces mounting challenges, private insurers like Neptune are prepared to offer a robust, technology-driven alternative that meets the needs of today’s homeowners and businesses.”

Jean-Luc Eckstein, Chief Customer Officer, Neptune Flood, added, “At Neptune, our focus has always been on delivering a seamless, simple experience for our policyholders and agents. This milestone reflects not only the strength of our technology but also the dedication of our team to providing outstanding service to those facing flood risks.”

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Florida domiciled Neptune Flood, a private flood insurance provider, has surpassed $300 million in premium in force, over 235,000 policyholders, and over $100 billion of insured value. These milestones underscores the firm’s commitment to the private flood insurance market, driven by cutting-edge technology, data-driven underwriting, and protecting homeowners and businesses from flood risks. Launched in…