Neptune Flood

Name

Neptune Flood

Legal name

Neptune Flood, Inc.

Website

https://neptuneflood.com

Company type

Public

Founded year

2018

Operating status

Ipo

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Flood Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Flood Insurance (FSAJACAG)

Keywords

• Private flood insurance
• Managing general agent
• AI underwriting platform
• Parametric earthquake insurance
• Residential commercial flood coverage

Headquarters

HQ city

St. Petersburg

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Marketing or Sales, Technology or R&D, Personnel, Operations, Infrastructure, Others

Revenue model

1. Managing General Agent (MGA) Commission Income: Neptune operates as a licensed MGA and program administrator underwriting and administering flood insurance programs on behalf of one or more authorized surplus lines insurance carriers; it does not assume underwriting risk and earns commissions/fees on premium placed with carrier partners. Operates in 50 states plus DC with AM Best-rated carrier partners.
2. Primary Residential, Commercial, and RCBAP Flood Insurance Premium Placement: Generates revenue by placing primary flood insurance policies (residential up to $15M building, commercial up to $15M, RCBAP up to $15M building, $500K contents) through carrier panel; capital-light MGA model with revenue growing 34% to $159.5M in FY2025
3. Excess Flood and Parametric Earthquake Insurance (Jumpstart): Excess flood policies plus parametric earthquake insurance offered in California, Oregon, and Washington via the Jumpstart Insurance brand acquired in October 2021, providing additional premium placement revenue lines

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Neptune Flood sells private flood insurance directly to property owners and through a network of independent insurance agents, operating as a Managing General Agent (MGA) that prices, binds, and services residential, commercial, and RCBAP flood policies on its proprietary Triton AI underwriting platform and places the risk with a panel of 42+ global insurance and reinsurance carriers. It also distributes parametric earthquake insurance under its Jumpstart sub-brand in California, Oregon, and Washington. Coverage is offered across all 50 states plus DC, with up to $15M building limits, 10-day waiting periods, broader optional coverages, and quote-to-bind in under two minutes via Triton.

Product overview

Neptune Flood operates a single, unified AI-native insurance platform that powers multiple primary flood insurance product lines through one core technology stack. At the center is Triton®, Neptune's proprietary AI/ML underwriting engine and Model-as-a-Service (MaaS) platform, which analyzes millions of property risk data points daily and prices/places each policy with no human underwriters — enabling quote-to-bind in under two minutes. Built on Triton, the platform is delivered across three primary flood insurance products: Neptune Residential Flood Insurance, Neptune Commercial Flood Insurance, and Neptune RCBAP (Residential Condominium Building Association Policy) Flood Insurance, plus an Excess Flood Insurance offering layered above primary coverage. The Triton platform is also exposed externally via the Model Context Protocol (MCP) to power the Neptune Flood App in ChatGPT, a conversational AI quoting interface launched in March 2026. Two further AI products, Atlas+ (an agentic AI assistant for agents) and Proteus (an AI software development tool), were launched in Q1 2026 to extend platform capabilities for the agent channel and internal engineering. Neptune also owns and operates Jumpstart, an acquired sub-brand offering parametric earthquake insurance in California, Oregon, and Washington. Distribution is supported by the Neptune Agent Hub (for 45,000+ registered insurance agents) and a direct Consumer App.

Differentiator

Problem solved

Functional benefit

Brands

• Jumpstart: Parametric earthquake insurance product available in California, Oregon, and Washington; operates as a separate branded offering at jumpstartinsurance.com.
• Triton

Products and services

• Neptune Residential Flood Insurance Primary private flood insurance for homeowners providing up to $15,000,000 in property coverage and $500,000 in contents coverage, with optional coverages such as temporary living expenses, replacement cost on contents, basement contents, unattached structures, pool repair & refill, loss of rental income, building betterments & improvements, and outdoor trees/shrubs/plants. Quote-to-bind in under two minutes via Triton AI underwriting. 10-day waiting period (no wait for real estate closings or rollovers).
• Neptune Commercial Flood Insurance Primary private flood insurance for commercial buildings, mixed-use buildings, hotels/motels/inns, and apartment or co-op buildings. Provides up to $15,000,000 building coverage per building and up to $1,000,000 contents coverage (up to $500,000 for apartments), with business interruption coverage up to $1,000,000 for 50 days after a 14-day waiting period, loss of rental income up to $1,000,000, replacement cost on building, basement contents, pool repair & refill, and building betterments & improvements. 10-day waiting period.
• Neptune RCBAP Flood Insurance Residential Condominium Building Association Policy flood insurance exclusively for condominium building ownership (at least 75% residential, minimum $100,000 of coverage per unit). Provides up to $15,000,000 building coverage per building and $500,000 contents coverage, with optional basement contents, pool repair & refill, outdoor trees/shrubs/plants, and renewal price protection. Available in 50 states plus Washington, D.C.
• Neptune Excess Flood Insurance Excess flood insurance coverage layered above primary flood policies for residential, commercial, and RCBAP customers needing additional limits beyond primary coverage. Sample policies are available for residential, commercial, and RCBAP excess forms.
• Jumpstart Parametric Earthquake Insurance Parametric earthquake insurance available in California, Oregon, and Washington, acquired by Neptune in October 2021 with the purchase of Jumpstart. Operates as a separate branded sub-brand (jumpstartinsurance.com) of Neptune Flood, offering trigger-based earthquake coverage.
• Neptune Flood App in ChatGPT Digital flood insurance quoting app launched inside ChatGPT in March 2026, providing property owners nationwide with instant preliminary flood insurance quotes and coverage information through a conversational AI experience powered by Neptune's Triton underwriting engine via the Model Context Protocol (MCP). Provides preliminary quotes and information but does not bind coverage.

Quantifiable outcome

• 92% reduction in ticket resolution times and 78% reduction in support costs via AI customer service automation
• +4 more outcomes

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability14 records

Feature6 records

Partnerships

Five partnerships are on record, tiered flagship, minor and core.

• Somers Syndicate 3705 (Lloyd's)flagshipChannel Partner/ Reseller/ Distributor · 7 January 2026Strategic partnership with Somers Syndicate 3705, the Lloyd's market syndicate operated by Somers Re Ltd, to bring fresh underwriting capacity onto Neptune's private flood insurance platform; Acrisure Re served as the Lloyd's broker. This expands Neptune's capacity panel following its October 2025 IPO and supports continued growth in the US private flood market.
• Acrisure ReminorImplementation/ SI/ Consulting Partner · 7 January 2026Acrisure Re acted as the Lloyd's broker supporting Neptune's capacity partnership with Somers Syndicate 3705, facilitating placement of flood risk into the Lloyd's market.
• Palomar HoldingsflagshipStrategic or Co-development Partner · 26 June 2025Palomar Holdings and Neptune Flood announced a strategic partnership making Neptune the exclusive managing general agent for Palomar's flood insurance offerings; Neptune's data science and ML platform powers quote generation and policy binding, with Palomar's agents transitioning to provide enhanced coverage options, aiming to expand private flood insurance as an alternative to NFIP nationwide.
• Charles River DatacoreStrategic or Co-development Partner · 1 May 2024Neptune Flood acquired Boston-based data science consulting firm Charles River Data in May 2024 to enhance its AI-driven flood insurance underwriting system with advanced AI and machine learning capabilities, improving risk assessment accuracy and operational efficiency.
• Jumpstart Insurance (parametric earthquake)coreStrategic or Co-development Partner · 1 October 2021Neptune acquired Jumpstart, a parametric insurance company, in October 2021, adding parametric earthquake insurance available in California, Oregon, and Washington to the Neptune product portfolio.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Wright Flood (Wright National Flood Insurance Services): Wright Flood is one of the largest US private flood insurance MGAs and Write Your Own (WYO) NFIP administrators, directly comparable to Neptune's MGA model in residential, commercial, and excess flood placement. Both compete for the same agent channel and carrier panel capacity.
• Kin Insurance: Kin is a direct-to-consumer AI-native home and flood insurer that uses proprietary technology to price and bind coverage online, similar to Neptune's Triton-driven digital quoting and self-serve consumer funnel. Both target homeowners underserved by NFIP with a tech-first approach.
• Aon Edge (Aon plc): Aon Edge is Aon's private flood insurance solution offering higher limits than NFIP, marketed through the agent channel. It is a directly comparable private flood product competing head-to-head with Neptune for residential, commercial, and excess flood placement.
• Beyond Floods: Beyond Floods is a private flood MGA offering higher coverage limits than NFIP via the agent channel, similar to Neptune. It is a direct competitor in the supplemental and replacement-cost flood market.
• ICAT (Boulder Claims Management / ICAT): ICAT is a specialty MGA and managing agent for catastrophe-exposed property insurance including flood, with a comparable carrier-panel-driven, agent-distributed model. Both firms act as distribution and underwriting intermediaries for catastrophe perils.

Broad incumbents

• Palomar Holdings: Palomar is a publicly-traded specialty insurer that is Neptune's exclusive flood MGA partner and is both a strategic partner and a broader incumbent in catastrophe-exposed property lines. It is a meaningful comparator because it shares the same distribution and risk placement economics from the carrier side.
• Assurant (Flood Insurance): Assurant is a large specialty insurer that writes private flood and lender-placed flood insurance through mortgage servicer and agent channels. It is a broad incumbent in the same private flood market where Neptune competes, though with a much larger and more diversified portfolio.
• Citizens Property Insurance Corporation: Citizens is the Florida state-backed residual-market property insurer of last resort, including a large coastal flood book. It is a broad incumbent that competes with Neptune for catastrophe-exposed residential risks in Florida, Neptune's most concentrated state.

Emerging players

• Hippo Insurance: Hippo is an insurtech homeowner-focused carrier that sells coverage through agents and direct channels with a technology-driven UX similar to Neptune. While Hippo writes its own home policies (with flood as an add-on), the go-to-market and AI tooling overlap directly.
• Lemonade Inc. Lemonade is an AI-native digital insurance carrier that uses behavioral AI and a digital-first funnel. While Lemonade focuses on renters and homeowners and not flood, its technology stack, mobile UX, and AI-driven underwriting approach are broadly comparable to Neptune's Triton platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/12956923
• Xx.com/NeptuneFlood
• Facebookfacebook.com/NeptuneFlood

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neptune Flood