Tech-driven insurance company Neptune Flood has announced the promotion of Matt Duffy (pictured) to the dual role of Managing Director and Chief Risk Officer. Previously, Duffy served solely as the Chief Risk Officer.
Duffy, who has been with Neptune for three years, has played a pivotal role in overseeing the company’s data science operations and capacity management. He has also been integral to the integration of artificial intelligence (AI) into Neptune’s risk underwriting processes.
Prior to joining Neptune, Duffy held the position of Executive Vice President of Enterprise Technology Solutions at Bank OZK.
Commenting on the promotion, Neptune President and Chief Executive Trevor Burgess stated: “Matt’s promotion to Managing Director is a testament to his significant contributions and our confidence in his leadership abilities.
“His expertise in risk management and technology has been instrumental in advancing our capabilities and positioning Neptune at the forefront of innovation in the flood insurance industry. We are excited to see Matt take on this new role and continue to drive our mission forward.”
This leadership change comes on the heels of Neptune’s acquisition of Boston-based data science consultancy Charles River Data. This acquisition is expected to enhance Neptune’s risk underwriting capabilities and strengthen its market position by advancing its use of AI and machine learning (ML).
Duffy expressed his enthusiasm for the new role, stating, “I look forward to continuing to work with our talented team to drive innovation and deliver exceptional value to our customers and our risk-taking partners.”
Utilizing the advanced AI-driven platform Triton, Neptune processes over 30,000 quotes daily through data analytics and machine learning. This allows the company to provide efficient underwriting solutions and top-tier customer service, making flood insurance accessible to all.
