Neptune Flood, a US-based insurtech firm, has introduced the acquisition of Charles River Knowledge, an information science consulting group, for an undisclosed sum.
The acquisition is anticipated to reinforce Neptune’s Triton underwriting system with superior knowledge science, machine studying and AI.
Charles River Knowledge, headquartered in Boston, is understood for its experience in huge tech and academia, specialising within the growth of analytical instruments and fashions.
These instruments are designed to empower companies to leverage knowledge for strategic decision-making.
The mixing with Neptune is anticipated to refine the corporate’s capacity to analyse and underwrite flood danger with elevated precision and pace.
As the brand new chief knowledge science officer of Neptune, Mike Dezube, the CEO of Charles River Knowledge, brings with him eight years of expertise working as an information scientist at Google.
Entry essentially the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Achieve aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e-mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nevertheless, we would like you to take advantage of
helpful
resolution for your corporation, so we provide a free pattern that you may obtain by
submitting the under type
By GlobalData
His co-founder, Gleb Drobkov, beforehand a advisor at BCG X, will tackle the position of chief technique officer at Neptune.
Neptune Flood CEO Trevor Burgess stated: “The mixing of Charles River Knowledge’s experience will allow us to develop our analytical capabilities, making certain quicker and extra correct flood danger assessments for our clients.”
Dezube added: “We’re thrilled to affix Neptune and contribute to a platform that’s reworking an trade by knowledge and AI. Our experience in knowledge science aligns seamlessly with Neptune’s imaginative and prescient of accuracy and effectivity in underwriting flood danger, and collectively, we are going to carry the trade ahead, setting new requirements as we go”.
Earlier in February, Neptune launched its extra flood insurance coverage product catering to residential, business and condominium properties.
This coverage provides protection past the utmost restrict accessible by the Nationwide Flood Insurance coverage Program (NFIP), permitting clients to take care of their NFIP coverage whereas nonetheless receiving market charge protection.
It additionally goals to fill protection gaps and safeguard in opposition to losses that exceed NFIP limits.
