AI-driven flood insurance company Neptune Flood has forged an alliance with the US-based independent insurance agency alliance SIAA.
As part of the tie-up, Neptune will provide its instant flood solution to SIAA member agencies.
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Neptune’s instant flood solution is claimed to offer “greater and broader” coverages than the traditional National Flood Insurance Programme (NFIP).
It is said to offer a range of additional coverage options, including temporary living expenses, unattached structures, pool repair & refill, replacement cost on contents, and basement contents for homeowners.
Additionally, it provides business interruption coverage to enable businesses to recover from a flood event.
Neptune president and CEO Trevor Burgess said: “Neptune Flood makes it fast and easy for agents to obtain flood insurance for their customers while also providing superior coverage to the traditional NFIP.
“As the largest nationwide alternative to the NFIP, Neptune is uniquely positioned to meet the scale and needs of SIAA member agencies and their customers. We are homered to partner with SIAA.”
SIAA member agencies will be able to access Neptune Flood through SIAA MarketFinder, its online member-only portal for difficult-to-place and speciality risk markets.
SIAA COO Jeff Holmes said: “Our partnership with Neptune fulfills a growing demand for private flood insurance options, and alternatives to the coverage available through the National Flood Insurance Programme.
“By adding Neptune Flood to our platform, member agencies will be able to offer their clients an outstanding flood coverage option, in an efficient, data-driven manner, often at considerable savings.”
Last year, Neptune Flood acquired Jumpstart Insurance Solutions to expand its product portfolio.
