Neptune Insurance Holdings Inc.

Overview

Neptune Insurance Holdings Inc. is a U.S. insurtech and insurance managing general agency focused on catastrophe coverage, particularly private-market flood insurance for residential and commercial property owners. It operates a technology-first, API-enabled platform that supports quoting, underwriting, policy management and distribution through a nationwide agency network, with primary flood insurance as its flagship product and excess flood and parametric earthquake insurance as additional offerings.[1]+4

The company operates nationwide in the United States, with Florida, Texas and Louisiana accounting for 48.9% of policies in force at year-end 2025. Neptune says its mission is to create a smarter, more resilient insurance platform powered by AI, data science and technology, and its filings describe data science and automation as central operating principles. As of December 31, 2025, Neptune had 62 employees, generated $159.6 million of revenue, and reported about $370.2 million of premium in force across roughly 280,200 policies, indicating a relatively lean but nationally scaled specialty insurer.

[6]+6

Products & services

Neptune’s core product is private flood insurance. Its flagship offering is Primary Flood Insurance for residential and commercial property owners, structured around the National Flood Insurance Program (NFIP) form so it can either supplement or fully replace NFIP coverage; the company says these policies include expanded coverage options versus the base NFIP policy.[4][13] Neptune also markets flood coverage for condominium buildings and emphasizes an instant quote and quick-buy process through its digital platform.[14] In the disclosed 2025 product mix, primary flood represented 97.0% of premium in force, with primary residential flood alone accounting for 85.7%.[13]

A second flood product is Excess Flood Insurance, launched in February 2024 for residential and commercial property owners who keep NFIP coverage but want added limits above the NFIP policy.[15][5] Neptune describes this product as beginning where NFIP limits end, with availability in 49 states plus Washington, D.C., and highlights a $0 deductible on the product page.[16] Excess flood represented 2.9% of premium in force in the disclosed 2025 mix.[13]

Outside flood, Neptune offers earthquake products. Its Parametric Earthquake Insurance, added after the Jumpstart acquisition, pays predetermined amounts based on earthquake intensity, which is intended to enable faster and more straightforward claims settlement than traditional indemnity coverage.[17] The company also launched a beta test of an indemnity earthquake product in California in December 2025.[18] Supporting these products is Neptune’s in-house Triton underwriting engine, which the company says uses machine learning, AI, data science and behavioral economics to perform risk selection, pricing, aggregation management and carrier assignment in less than two seconds, with no human underwriters; Neptune’s service role also includes underwriting and policy administration for carrier and capacity-provider partners.

[19]+2

Geographic presence

Neptune Insurance Holdings’ operations are concentrated in the United States. The company states that it operates nationwide, and it says its insurance programs are eligible to write policies in all 50 states and Washington, D.C., facilitating business across the country. Within that national footprint, business remains meaningfully concentrated in Florida, Texas, and Louisiana, which represented 48.9% of policies in force as of December 31, 2025; the company also notes that this concentration increases its exposure to regulatory changes in those states.[6]+2

The company’s office footprint is centered in St. Petersburg, Florida. Its principal executive offices are at 400 6th Street S, Suite 2, St. Petersburg, Florida 33701, and it says its current St. Petersburg headquarters serves as the central hub for technology development, sales, and corporate administration. Neptune also says it plans to move to a new headquarters, also in St. Petersburg, in 2027.[24]+2

Employee geography is more distributed than its office footprint. Neptune describes itself as a remote-first company, with the majority of its workforce operating remotely, and it reported 62 employees as of December 31, 2025, most of whom worked remotely. The company does not disclose revenue by country or region in the available information; instead, revenue is presented as disaggregated by source rather than geography.

[27]+2

Business segments

Neptune Insurance Holdings does not report multiple operating segments. It states that it is organized as a single operating and reportable segment, centered on its managing general agent business offering residential and commercial insurance products, including primary flood, excess flood, and parametric earthquake coverage, primarily through a nationwide U.S. agency network. The CEO evaluates the company on a consolidated basis, using net income and total assets, so the company’s officially reported segment mix is effectively one segment representing 100% of operations.[29]+2

As a product/program mix within that single segment rather than a formal segment disclosure, Neptune said primary flood insurance accounted for 97.0% of premium in force as of December 31, 2025, excess flood accounted for 2.9%, and earthquake products were less than 1%. The company also disclosed that residential properties represented 88.0% of premium in force and commercial properties 12.0%, with its flagship primary residential flood product alone making up 85.7% of premium in force. A beta indemnity earthquake product had been launched, but no separate percentage contribution was disclosed for it.

[4]+4

Company history

Neptune began in 2018 as Neptune Flood, and its launch was accompanied by a $2 million seed financing round led by Trevor Burgess; the company identified Jim Albert as founder and CEO.[14][31]

By March 2019, Neptune had expanded coverage to six additional states as it broadened its early flood-insurance footprint, and in December 2019 Burgess became CEO while Albert moved to the role of chairman.[32][33]

In September 2021, Neptune acquired Jumpstart, a parametric insurance company focused on earthquake coverage in California, Oregon and Washington, which enabled Neptune to add parametric earthquake insurance and provided the basis for a later indemnity earthquake product.[34]

In April 2025, the business completed a holding-company reorganization in which Neptune Insurance Holdings became the parent of Neptune Flood, and later in 2025 it completed its transition to a public company.

[35][36]

Sources

• Neptune Insurance Holdings Inc. — Full financial report (2025 Y)
  28 citations

  [1][3][4][5][6][8][9][10][11][12][13][15][17][18][19][20][21][22][23][24][25][26][27][28][29][30][34][35]
• Neptune Insurance Holdings Inc. — Presentation (2025 Y)[2][36]
• investors.neptuneflood.com[7]
• neptuneflood.com[14]
• neptuneflood.com[16]
• www.prnewswire.com[31]
• www.prnewswire.com[32]
• www.insurancejournal.com[33]