AXA XL and Neptune Flood Insurance Partner to Expand Private Residential Flood

AXA XL, a division of AXA, and Neptune Flood, the first all-digital flood insurance Program Administrator, have entered a strategic underwriting partnership intent on expanding Neptune Flood Insurance’s capacity to homeowners throughout the US.

Source: AXA XL | Published on September 12, 2019

According to Chris Bressette, Senior Vice President and Head of AXA XL’s North America Program business, “Private Residential Flood Insurance in the US has emerged as a rare growth opportunity in an otherwise crowded P&C market. We are thrilled to be working with such a capable Delegated Program Administrator partner. Neptune has very strong technical analytic capabilities, a deep understanding of related legislative issues, and a unique and responsive client service platform.”

“We are very proud to partner with the world’s largest Commercial Property & Casualty insurer to accelerate Neptune’s growth, giving us the ability to expand our strategic alliances and coverage territory. The additional capacity and underwriting expertise of AXA XL will expand the availability of private flood and ultimately change the way homeowners buy flood insurance,” said Jim Albert, CEO of Neptune Flood Insurance.

Trevor Burgess, Chairman of Neptune Flood Insurance, added, ‘Neptune brings together three critical elements: the backing of global partners like AXA XL, the big data analytic capabilities of our Triton underwriting engine, and a client user experience that strives to be best in class.”

Neptune Flood offers coverage to residences in all flood zones, including non-mandatory “X” zones that have been hit so hard in recent years. As evidenced by Hurricanes Harvey and Florence, more than 70% of the losses were to homeowners without insurance, and over 70% were in flood zones where they were not required to have flood insurance.

Neptune offers agents and direct buyers the ability to quote and bind a flood insurance policy in minutes, using advanced data analytics to deliver an accurate, custom quote for each residence.
Neptune Flood’s fully-automated analytics-enabled service platform brings transparency to the traditionally opaque and complicated process of buying flood insurance by allowing homeowners to price their home’s risk for flood in real-time to obtain the protection that is right for them.


Neptune Flood was founded in 2016 by insurance and technology industry veterans, including CEO Jim Albert, with a goal of bringing advanced analytics and extreme ease of use to the flood insurance market. In January 2018, Neptune raised over $2mm in seed financing led by C1 Bank founder and former CEO Trevor Burgess who now serves as Neptune’s Chairman.


AXA XL, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit