5 August 2025

AI-driven MGU Neptune Flood has exceeded 250,000 policies in force, as more homeowners and businesses seek alternatives to government-backed coverage.

"Crossing the 250,000-policy mark reflects the increasing demand for alternatives to the National Flood Insurance Program," said Trevor Burgess, CEO of Neptune Flood.

Earlier in July this year, Neptune Flood secured over $400 million in premium capacity for 2025—including more than 30 insurance and reinsurance partners—encompassing global reinsurers and specialty carriers.

The milestone marks the company's growing market share in a country where flood events have risen year over year, as the NFIP faces mounting pressure due to outdated risk models and rising claims.

Neptune, late last year in a paper, advocated for systemic reforms and a shift toward private market solutions.

Since launching in 2018, the company has expanded to all 50 states and Washington, D.C., and is backed by more than 30 global insurers and reinsurers.

 View article: https://www.theinsurer.com/program-manager/news/neptune-flood-hits-250000-policies-amid-growing-demand-2025-08-05/

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