Neptune Insurance Holdings Inc. NP

What this company does

Neptune offers residential and commercial insurance products, including primary flood insurance, excess flood insurance, and parametric earthquake insurance, distributed through a nationwide network of agencies, and it underwrites and administers the issuance of these policies on behalf of a panel of insurance and reinsurance companies it refers to as capacity providers, which bear the insurance risk and handle claims. As of December 31, 2025, the company had 62 employees, 40% of whom were on its technology development team. The company's operations are organized around three pillars: underwriting, risk relationships, and distribution. Underwriting is performed with no human underwriters, with 100% of underwriting completed instantaneously by the company's Triton engine. Its risk relationships consist of 8 distinct insurance programs supported by 32 reinsurance providers that collectively provide underwriting capacity for the policies it sells. Distribution relies mainly on agent and broker partnerships: as of December 31, 2025, over 96.7% of the company's policies in force were driven by these partnerships, which included more than 23,000 unique agency codes that had bound a policy through Neptune.

Written from the business description in Neptune Insurance Holdings Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.