InsurTech NY News: Neptune — The Anti-InsurTech IPO
Neptune Aims for $2.7B IPO as Flood Risk Rises
Neptune just filed to go public with the kind of numbers most MGAs dream about.
- $137M Last 12 Mon revenue
- $45M net income (33% margin)
- Lifetime written loss ratio ~25%
- 245k policies
That’s not vibes; that’s a machine (SEC S-1)
This isn’t happening in a vacuum. Slide’s fresh IPO tells the same story in a different line of business—$929M Last 12 mon revenue, ~$239M Last 12 mon net income—proof that “climate lines” aren’t just insurable; they’re investable when you specialize, model well, and secure capacity.
Why now? Demand and data.
Independent risk science shows ~14.6M U.S. properties carry substantial flood risk—~70% more than traditional maps suggest. That spread presents a pure opportunity for carriers/MGAs that can price granularly and distribute quickly. Neptune’s footprint supports this (policies concentrated in FL, 31%, and TX, 17%, with a broad reach elsewhere), and their capacity panel comprises 33 providers across 7 programs, a resilience play as much as a growth one.
The question remains:
Are Neptune and Slide outliers, or are they the new trend in high-growth InsurTechs?
Upcoming InsurTech Community Events and Programs
-
Breaking Free From the Core System Giants
Free Webinar
Oct 9 | 2pm – 2:30pm | Online
Insurtech NY partners with Neota to discuss how insurers are shifting from platform dependency to a portfolio mindset. -
Future of Distribution 2025
Public Event
Nov 4 | New York
We partner with Catalyit and Big I New York in a complementary event for Agents, Brokers and Carriers combining startup speed dating and debates. -
InsurTech Slopes 2026
Public Event
Jan 28-29 | Idaho
A two day event designed to bring together a small, diverse group of InsurTech investors and startup founders over the slopes. -
2026 Spring Conference: Human Side of Insurance
Conference
March 30-31 | New York
Our 7th annual InsurTech Conference. P&C, Life & Health Tracks. 1,000 Attendees at Pier 60 in NYC. 40% off available until Aug 31.
InsurTech Fund Spotlight: Eleos Life – A Case Study in Embedded Protection
-
Case Study Eleos
-
Case Study
Life insurance is complex, slow to deploy, and often disconnected from real financial journeys. Eleos Life fixes that. Backed by InsurTech Fund, Eleos makes life and disability coverage accessible through seamless, white-labeled embedded protection. From credit unions to fintech apps, platforms can add personalized coverage in days—no setup costs or licensing hassles. The payoff: higher loyalty, stronger conversions, and peace of mind when it matters. With 10+ partners and reach to nearly 5 million consumers, Eleos is making financial resilience the default. Our latest case study details the approach and InsurTech Fund’s role in the U.S. expansion.
InsurTech Deals, Opportunities, and Partner Events
Discover a curated mix of InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
Coterie Insurance (Undisclosed Amount, Allianz X): Wisconsin-based insurtech firm specialising in small business coverage
LightSpun ($13M Series A, Brewer Lane): Boston-based AI-powered dental insurance administration platform
Parento ($5.9M, Seed II, ResilienceVC): NYC-based provider of paid parental leave insurance and employee support
Kin ($50M, Series E, QED Investors): Chicago-based direct-to-consumer, digital home insurance provider
Partner Events and Programs
- NAMIC 130th Annual Convention (Sep 28-Oct 1 | San Diego, CA)
- Bolt Conference by Gener8tor (Oct 1-2 | Indianopolis, IN)
- APCIA Annual Meeting (Oct 5-7 | Orlando, FL)
- ITC Vegas (Oct 14-16 | Vegas, NV)
- India Insurtech Association Annual Event 2025 (Oct 30 | Mumbai, India)
- RevTech Labs Foundation V135 Accelerator Program (Nov 20-21 | Charlotte, NC)
See more information about our partner events here:
https://www.insurtechny.com/2025-insurtech-conference-calendar/
