Neptune launches AI-driven commercial flood insurance for SMEs

Neptune Flood, an artificial intelligence (AI) driven flood insurance company, has launched its commercial flood insurance for small and mid-sized businesses in the US.

Neptune Commercial Flood insurance policies are issued by AXA XL and Lloyd's.

The company plans to roll out its offering to non-residential businesses such as offices, retailers and restaurants, later extending to hotels, apartment buildings and condominiums later this summer.

Neptune Commercial flood also offers a unique flood related business interruption insurance option with its policy that provides $500 of coverage to a business for each day it is closed. Flooding is generally not covered by standard business insurance policies.

"Over the past two years we have built this amazing Artificial Intelligence-driven technology for our extremely popular residential flood insurance offering and realized that the need to save time and money and to have the best possible coverage was just as great for small and medium sized businesses as it is for homeowners," said Neptune president and CEO Trevor Burgess. "Currently, there are hundreds of thousands of businesses that are not properly insured from the catastrophic risk of flooding this upcoming Hurricane Season and now Neptune can help them."