Jim Albert, CEO of Neptune Flood Insurance, said he hoped the partnership would accelerate Neptune’s growth and help it expand its strategic alliances and coverage territory. Neptune touts itself as a high-tech, customer service-focused alternative to the FEMA-backed NFIP, which covers about 96 of the nation’s 5 million homes that have flood insurance. In the aftermath of Hurricanes Harvey and Florence more than 70 percent of the losses were to homeowners without insurance, and over 70 percent were in flood zones where they were not required to have flood insurance, Neptune said. Largest private flood insurance company in the USA - Proper protection from flooding - Award-winning AI engine - Discover your price in < 2 minutes. It offers coverage to residences in all flood zones, including non-mandatory X zones that have been hit so hard in recent years.Ĭhris Bressette, head of AXA XL’s North America program business, said: “Private residential flood insurance in the US has emerged as a rare growth opportunity in an otherwise crowded P&C market.”īressette praised Neptune’s strong technical analytic capabilities, deep understanding of related legislative issues and “unique and responsive client service platform.” An A or A- rating is an indication of a very stable, well-financed insurance business with a substantial capacity to pay claims in virtually any event. It allows agents and direct buyers to quote and bind a flood insurance policy in minutes, using data analytics. Neptune is backed by some of the largest insurance markets in the world and offers a leak-proof flood product with high limits and additional coverages. Get the coverage you need in minutes, save money and then relax knowing Neptune has waterproofed your life.
Neptune Flood in the first all-digital flood insurance program administrator. We think about flood insurance every day, so you don’t have to. The average annual cost of NFIP flood insurance939 per year1,074 per year, according to our 2023 analysis of flood. Neptune Flood Insurance is backed by some of the largest insurance markets in the world. Compare private flood insurance & NFIP rates. AXA XL has entered a strategic underwriting partnership with Neptune Floodto expand Neptune Flood Insurance’s capacity to homeowners throughout the US. In fact, a 2017 study by Milliman found that 77 of single-family homes in Florida, 69 in Louisiana, and 92 in Texas could all see cheaper premiums with private flood insurance.
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