Neptune Flood Named to CNBC Upstart 100 - the Annual List of 100 Promising Start-ups

Insurtech now selling Flood Insurance in 21 states via over 1500 agents and online at neptuneflood.com expects to be nationwide in 2019

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Neptune Flood

Oct 10, 2018, 12:24 ET

ST. PETERSBURG, Fla., Oct. 10, 2018 /PRNewswire/ -- Neptune Flood was named to the CNBC Upstart 100 which highlights promising start-ups across industries. In naming Neptune to its Upstart 100 list, CNBC said that Neptune Flood is "an insurance company rivaling the federal flood insurance program." CNBC added, "technology-based start-ups like Neptune Flood are entering the market in an era of rising flood risks across coastal areas, using data analytics."

Neptune's Chairman, Trevor Burgess said, "I'm incredibly proud of the team at Neptune to be named to the CNBC Upstart 100. Neptune set out to change the way that people think about and buy flood insurance. In less than three minutes, millions of households can get a quote and bind a flood insurance policy protecting their home."

Jim Albert, Neptune's founder and CEO said, "Neptune is one of the fastest growing insurtechs and we are honored to be named in the CNBC Upstart 100. Our goal is to provide information and analytics to help people everywhere, not just the coastal mandatory areas, understand and get flood insurance coverage."

In September, in the counties in North Carolina affected by Hurricane Florence, only 10% of homes had flood insurance, according to the Washington Post. In Hurricane Harvey in Houston in 2017, 68% of flood damage was to homes in non-mandatory areas. Neptune provides a simple and affordable solution to acquire critical protection from devastating natural catastrophes.

Neptune Flood currently offers polices in the following flood prone states: Alabama, Arizona, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Massachusetts Maryland, Michigan, Mississippi, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

About Neptune
Neptune Flood utilizes advanced mapping technologies and aerial remote sensing to create sophisticated algorithms for the risk of flooding. This revolutionary approach to pricing flood risk often results in superior coverages at a reduced cost to the government's NFIP.

Neptune Flood was founded in 2016 by insurance and technology industry veterans, including CEO 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 Lloyd's, rated "A" (Excellent) by A.M. Best and other highly rated carriers. Neptune launched its product in early 2017 in Florida, and later in the year achieved the designation of Lloyd's Coverholder with authority to provide flood insurance throughout the US. In January 2018, Neptune raised over $2 million in seed financing led by C1 Bank founder and former CEO Trevor Burgess who now serves as Neptune's Chairman.

SOURCE Neptune Flood