![]() “We want it to be fast, easy, and economical.” “Broadening our reach to the earthquake peril and to parametric insurance more broadly will help us fulfill our mission to use technology to change the way that consumers buy, and agents sell, insurance,” said Neptune CEO Trevor Burgess. “Earthquake is a natural add-on to flood insurance as agents look to help their clients cover catastrophic risks,” said Jean-Luc Eckstein, Neptune’s chief customer officer. Neptune’s agent network in those three states will have access to Jumpstart products in the coming weeks via the Neptune agent portal. Jumpstart Parametric Earthquake Firm on Move in Westĭuring the transition, Jumpstart coverage will be available online via waitlist on Jumpstart’s website for California, Oregon and Washington customers. The company is based in St Petersburg, Fla. Neptune uses artificial intelligence-driven technology to make it fast and easy for consumers to buy, and agents to sell, insurance. Neptune Flood’s residential and commercial flood products are available nationwide. Neptune Flood is a private flood market backed by a roster of underwriters including AXA, Lloyds of London, and Transverse and is an alternative to the government’s National Flood Insurance Program. The average monthly cost in California is $20 per month, the average in Washington is $13, and in Oregon it’s $8 per month for a $10,000 payout, according to Jumpstart. Jumpstart’s policies are available to renters, homeowners and businesses. Late last year, Jumpstart started offering its product in Oregon and Washington as well. Quick coverage payout offers range up to $10,000 for individuals and $20,000 for small businesses. The policyholder receives the funds in a matter of days with no deductible, no adjusters, and no paperwork. Policyholders pay a monthly amount and are paid a set amount automatically if there is an earthquake in their area. The company provides a set payout amount based on the quake intensity, rather than the cost of damage. Geological Survey earthquake measurements. Jumpstart, a licensed surplus lines insurance broker selling online and using Lloyd’s capacity, began offering earthquake insurance in California in 2019 in the form of a parametric product, with payments linked to a formula and based on U.S.
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