Tech-driven insurance company Neptune Flood has promoted Matt Duffy (pictured) to the dual role of managing director and chief risk officer. He previously held only the CRO position.
Having spent three years at Neptune, Duffy has been a key figure in overseeing the private flood insurance firm’s data science operations and capacity management, as well as the integration of artificial intelligence (AI) into its risk underwriting processes.
Before his time at Neptune, Duffy was the executive vice president of enterprise technology solutions at Bank OZK.
Lifting the lid on the appointment, Neptune president and chief executive Trevor Burgess noted: “Matt’s promotion to managing director reflects 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.”
The leadership move follows Neptune’s swoop for data science consultancy Charles River Data in Boston. The acquisition is expected to boost the company’s risk underwriting capabilities and market position by enabling it to significantly advance in the areas of artificial intelligence and machine learning (ML).
Meanwhile, commenting on his broader remit, Duffy said: “I am honored to take on the role of managing director at Neptune. With the integration of Charles River Data, we are poised to make even greater strides in leveraging AI and ML to provide superior risk management solutions.
“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 more than 30,000 quotes daily through data analytics and machine learning, delivering efficient underwriting solutions and top-tier customer service to make flood insurance accessible to all.
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