AXA XL enters partnership with insurtech, expands private residential flood

AXA XL has entered a strategic underwriting partnership with all-digital flood insurance program administrator Neptune Flood Insurance. The partnership will expand Neptune Flood Insurance’s capacity to homeowners in the US, a release said. “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,” said AXA XL North America senior vice-president and head of program business Chris Bressette. Bressette noted in a statement that Neptune has strong analytic capabilities, a deep understanding of related legislative issues, and an innovative client service platform.