St. Pete flood insurance company acquires firm specializing in earthquake insurance
October 4, 2021 - St. Pete-based Neptune Flood, a digital-driven flood insurance company, has acquired Jumpstart Insurance Solutions, a leading parametric insurtech. The acquisition adds parametric earthquake to Neptune Flood's portfolio of technology-based insurance products. The financial details of the acquisition were not disclosed. California-based Jumpstart uses a parametric approach to provide a set payout amount based on the quake intensity, rather than the cost of damage. The policyholder receives the funds in a matter of days and quick coverage payout offers up to $10,000 for individuals and $20,000 for small businesses. During the transition, Jumpstart is available via waitlist in California, Oregon and Washington, according to a press release.