Neptune Insurance Holdings CEO on government shutdown: Neptune is open for business

Company Launch & Market Opportunity - Neptune, a private flood insurance provider, debuts on the New York Stock Exchange [1] - The IPO coincides with a government shutdown impacting the National Flood Insurance Program (NFIP), Neptune's biggest competitor, which covers 67% of the nation's flood insurance policies [2] - Neptune aims to assist the 1,300 people daily who require flood insurance for home closings [3] - Only about 4% of properties carry flood insurance, while flooding costs the nation roughly $200 million to $500 million annually [4] Technology & Underwriting - Neptune utilizes technology, including AI, for efficient underwriting, resulting in better outcomes compared to the federal government [5] - The company uses AI to assess individual properties for risk, offering tailored insurance rates [6] - Advanced technology is changing the insurance industry, impacting claims processing and risk assessment, including wildfire risk [7][8] Industry Impact & Future Trends - Insurers are using advanced technology to assess risk, potentially influencing regulators and state building codes [8] - The use of technology in insurance may change building practices nationwide [9] - Insurance deserts, where coverage is unavailable, are a growing concern [9]