Neptune Flood Expands Coverage to All NFIP Product Types

RCBAP, Apartment Building and Hotel/Motel/Inn Coverage Now Instantly Available Via Neptune's AI-Driven Online Insurance Platform

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Neptune Flood

Sep 14, 2020, 07:00 ET

ST. PETERSBURG, Fla., Sept. 14, 2020 /PRNewswire/ -- Neptune Flood, the first AI-driven flood insurance company to provide fast, easy and better flood insurance, today announces the expansion of its flood insurance products to now include all NFIP product types. Neptune, which has previously offered flood insurance for 1-4 family homes, Main Street businesses, today adds RCBAP (Residential Condominium Building Association Policy) along with policies for apartment buildings, co-op's, hotels, motels and inns.

"Building off of the successful launch of our commercial flood insurance product this summer we are excited to round out the product suite to be able to serve the flood insurance needs of nearly all US households and businesses," said Neptune President & CEO, Trevor Burgess. "RCBAP makes up a large part of the flood insurance marketplace and there is no reason agents and association managers should have to suffer through the traditional slow, paper-laden purchase process to buy flood insurance."

Neptune Flood Insurance is available via 10,000+ insurance agents across 48 states, the District of Columbia and online at neptuneflood.com.

"With coverage of up to $2 million dollars per building we are able to save money for small and medium sized associations with up to 20 units per building," said Jean-Luc Eckstein, Neptune's Executive Director. "Neptune's AI driven engine allows agents and consumers to quote and bind flood insurance in under two minutes. That's unheard of especially when it comes to commercial flood insurance and RCBAP."

Neptune provides flood insurance to over 42,000 homes and businesses across the United States. Agents interested in offering Neptune Flood to their customers should contact Neptune at [email protected]

ABOUT NEPTUNE FLOOD:
Neptune Flood was founded in 2017 by insurance and technology industry veterans, including Chairman, Jim Albert, with a goal of bringing advanced analytics and extreme ease of use to the flood insurance market. Neptune Flood's policies are currently backed by some of the largest and most secure reinsurers in the world, rated "A" (Excellent) by AM Best. In January 2018, Neptune raised over $2mm in seed financing led by C1 Bank founder and former CEO Trevor Burgess who now serves as Neptune's President & CEO. Neptune filed for a patent on its revolutionary Artificial Intelligence engine in November 2019 for which it was awarded a Novarica Impact Award in July 2020.

SOURCE Neptune Flood