Neptune Flood Raises $2M

Florida-based flood insurance provider Neptune Flood announced it has raised “over” $2 Million in a seed round. This is Neptune:

Feels Lemonade-ish.

Moving on.

The startup, established by Jim Albert and Bill Martin in 2016, currently offers coverage in Florida, Virginia and Texas with plans to expand “across more than a dozen US states in early 2018.” It is a Lloyd’s Coverholder with authority to provide flood insurance throughout the US. Also, it currently sells its product via brokers and strategic partnerships with plans to go direct by Q3 this year. Get a feel for its flow below:

Key features of coverage: (1) backed by A rated Lloyd’s, the world’s leading insurance market, (2) coverage can be purchased in less than 3 minutes, (3) access to coverage options not available through the NFIP, and (4) same day coverage, with no waiting period vs. 30-day wait for the NFIP.

Fun Fact: the idea started with the creation of a consulting firm by the name of Tangibly Unique Strategies LLC.