Neptune Flood Insurance

Goals

To gain a better understanding of Neptune Flood, including current CMO, company overview, locations, revenue, agency of record, and other relevant information about the company.

Early Findings

History/Overview

  • Neptune Flood was founded in 2016 in St. Petersburg, Florida by Jim Albert and Bill Martin. The goal of the company was to use advanced analytics in order to provide customers with an easy avenue to obtain flood insurance.
  • Customers can visit the Neptune website and purchase flood insurance for under 3 minutes with a five day waiting period. By using its LiDAR technology, customers are not required to have their property surveyed in order to obtain an elevation certificate.
  • Policies are backed by Lloyd's of London and rated A by A.M. Best.
  • The company released its first flood policy in Florida in 2017. After receiving the designation of Lloyd's Coverholder later that year, it was authorized to sell flood insurance across the United States.
  • In January 2018, Neptune received $2 million in seed funding. The two investors were Jim Albert and Trevor Burgess.
  • By June of 2018, the insurance was available in 21 states: Alabama, Arizona, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Michigan, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington. In March 2019, an additional 6 states were added: Missouri, Colorado, New Hampshire, Rhode Island, West Virginia, and Indiana
  • Neptune partnered with global re-insurer AXA XL in an underwriting deal that will help Neptune expand its geographical coverage areas.

C-Suite

  • Jim Albert is the current CEO. Before Neptune he was the CIO of Banker's Insurance. He also serves as a member of the board of directors.
  • Stephanie Lee joined Neptune as the Chief Operating Officer/Chief Revenue Officer in 2016. She is also a member of the board of directors.
  • Brad Schulz is the current Chief Technology Officer. He began consulting with Neptune in 2016 and joined full time in 2018.
  • Jim Steiner joined the Neptune team as Chief Risk Officer in 2018.
  • Trevor Burgess and Jon Carlon, both of TRB development, serve on the board of directors. Burgess is the current chairman of the board.
  • Neptune does not currently have a chief marketing officer in its c-suite.

Revenue

  • As a privately held company, Neptune is not required to disclose revenue to the public. Despite a thorough search of press releases, news articles, Crunchbase, Bloomberg, and Owler, we were unable to locate any data concerning annual revenue or valuation.

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